Have you been thinking deep and hard on how to make money online in Kenya? Olymp Trade Kenya allows you to make money quickly and easily.
All you need is a computer, a smartphone, and a stable internet connection. Boom! You are good to go.
Make sure to hone your forex trading skills by learning from success stories. There are a bunch of them on the internet – some converted into handy forex trade e-book guides to help newbies like you.
If you want to explore the forex trade space, this guide will walk you through the nitty-gritty so that you come out polished and assured to start getting hands-on sooner.
It’s time to start making easy money right from the comfort of your phone, couch, and home!
But first…
What is Olymp Trade?
You have most likely asked this question before. Maybe you were just excited about the opportunity to make money by using this route although you didn’t know what it was.
Olymp Trade is an international Forex and digital trading platform. You are supposed to invest your options on this platform over a certain amount of time.
Olymp Trade allows traders to trade on currency pairs, cryptocurrency, stocks, indices, and commodities. It is owned and operated by Inlustris Limited and certified by the International Financial Commission also known as FinaCom.
The platform is well-designed and provides an education center in several languages, webinars, and you are exposed to various trading strategies. You also get a detailed economic calendar to help in your trading efforts.
How Olymp Trade Works.
First, you need to register on the platform. And once you are done, you get a free demo account loaded with US$ 10,000 with which you can start practicing trade on the platform.
If you stake the minimum recommended trade size, $1, the $10,000 should enable you to run 10,000 trades. Of course, this is only for learning and practicing purposes.
This demo is very important if your ambition is to get to the pinnacle of the earning charts. Olymp trade works with two types of Options to trade.
The first is the Classic Option.
This is better known as the UP-DOWN trade. Here, the system allows you to choose the trade amount and the time you want it to run – this could be a minute at least, 5 minutes to several hours, etc.
The second one is the Time Option
This is meant for the Gurus of FOREX trading. Hence, they are not the best for beginners. This Option is considered the best, up-to-date and convenient method to trade on Olymp Trade markets.
You place this Option by selecting the expiration time of a particular trade. Following this method, you can rack up profits up to 92% on your initial investment.
Until this point, you already know that Olymp trade is a binary broker. This means it involves binary options trading in Kenya and all other countries where it applies.
Further, it also means that you have two options when you are staking your money: win or lose. Sounds bitter-sweet, frightening?
So, it is a risky business to venture in. But with good prediction expertise, careful risk management and market analysis, and a bit of luck, it has great profits.
Also Read: Smart ways to make money online in Kenya
How to Trade on Olymp Trade in Kenya.
The following is a quick procedure on how to trade on Olymp Trade:
- Open your Demo Account to start practicing as mentioned above. The Demo Account prepares you on the journey ahead.
- Deposit in the live account.
Remember that the minimum amount of money you can deposit is $10. Loading your account is simple as Mpesa services are also allowed for payment on this platform.
But you can use your Visa Card to make a deposit and the money will reflect almost immediately on your account.
- Begin trading immediately
It is time to start trading. As a quick reminder, you have a list of five different assets with which you can trade.
These include currency pairs, commodities, stocks of major global companies, and indices in Europe, Asia, and the United States.
You will need to decide which one would work out magic for you and settle on that one.
Although you are free to stake the highest amount, begin small, preferably with the minimum amount of $10. This should give you the breathing space to think about your next move whichever way this investment goes.
That being said, if you stake higher amounts, you also stand the chance to claim bigger profits. The same is true if you lose.
- Analyze the market chart
Learning how to use Olymp Trade encompasses examining the behavior of the charts on the market. And making appropriate decisions based on these evaluations.
You want to know if the trend at the time is up or down. Be sure about these trends before you can charge your resources.
- Make your market prediction
Use the indicator to predict whether the market is going up or plunging. Remember to set the trade time – 1 minute, 5 minutes, 30 minutes, or 1 hour, etc.
- Time to earn the profit
Now at this stage, when the trade expires in the set time, the asset price and the strike price are compared. The correct prediction will earn you interest and vice versa.
For example, if the trade was that an investment of $100 in Gold would give 80% in return, and your forecast about the market going up came true, you would earn the invested amount plus the 80% interest.
That is $180 in total earnings.
Here is another good example.
If you invest $10 in GOLD with a possible return interest of 80%.
You have two options (remember? Up or down). Just indicate whether the market will go UP or Down.
Say you believe – from your analysis – that the market will go UP. So, as usual, press the BUY button for let’s say 5 minutes.
After the expiry of this 5 minutes, Olymp Trade checks whether your prediction is correct or wrong. The correct prediction will give you $10+$8 = $18.
Olymp Trade App.
If you are a mobile-savvy trader, Olymp Trade has covered your needs thanks to their flexible functionality. There is a mobile application that offers very much-needed flexibility.
Both users of Android and IOS can also have the platform on their smartphones. On this mobile app, you can access all services right from the comfort of your phone in any place you are.
Which means that you can perform all trading operations safely on your gadget. The good side of mobile phones is that they are convenient to use and haul around.
The Olymp trade app on phone offers the same operation speed as the PC. The Olymp Trade app can be downloaded free from their website.
How Do You Withdraw Your Money on Olymp Trade
First, it is important to know that withdrawing money from Olymp Trade in Kenya is free. Except that Skrill charges 1% as processing fees for mpesa users if you use Skrill in the middle for funds transfer.
Here is the withdrawal procedure in a flash.
- Login to your Olymp Trade account
- Locate and click on the withdrawal button right on the menu button at the Olymp Trade logo
- You are redirected to a new page with Skrill. That’s if you used Skrill to load your wallet.
- Fill in the amount you’d like to withdraw.
- Withdrawal process may take anything from just a few minutes to hours
- The money goes in your skrill account so be sure to check there for it after some time.
- If the money reflects on Skrill, you can now go-ahead to withdraw to Mpesa.
- On Skrill – click on the withdraw button, then on the mobile wallet (withdraw now)
- Enter the amount you would like to withdraw and click on continue
- Have a view or confirm the details of your transaction and click continue
- You will receive the message confirming the transaction is being processed.
- Wait for a few minutes. But the process can also take hours.
Is Olymp Trade a SCAM?
Olymp Trade is not a scam. Even so, you need to take maximum caution as you engage with them.
These trading businesses can be pretty tricky.
The company is a member of FinaCom – an agency that resolves any disputes between customers and the broker in case the partners fail to agree.
Can I Make Money from Olymp Trade?
Yes. You can make money on this platform and really good money. However, this is a binary broker which means there’s also a 50% chance of losing all your invested capital.
To make a daily kill, be ready to study the market stats and charts. Observe the trends and learn about proven winning methods that you can replicate in your stakes. And be patient.
Until then, doing business blindly can only be toxic.
Olymp Trade Affiliate.
The Olymp Trade affiliate enables users to make extra bucks by referring new people to the platform. But you must sign up with the Olymp Trade affiliate program KingFin Affiliate.
In Conclusion
Olymp Trade Kenya offers all users the opportunity to make their investments count. If you will be keen on your trades, you could earn handsomely.
On the other hand, poor trading strategies will be a disappointment. So trade carefully