The services of OlympTrade are available all over the world, except in certain countries such as the USA, Japan, Israel, Canada, Russia, and a few others, where binary options as trading instruments are completely banned. Since the Namibian government did not place a ban on binary options, then OlympTrade is much available in Namibia.
OlympTrade globally is well regulated; as mentioned earlier, it is a member of the International Financial Commission (FinaCom), a well-respected regulator of derivatives trading brokers. However, OlympTrade is not registered with or regulated by any Namibian government financial regulatory agency such as the Namibia Financial Institutions Supervisory Authority (NAMFISA). What this means is that in cases of infraction, no Namibian body can take up issues with or sanction OlympTrade. However, we must say that this is really nothing to worry about as the OlympTrade has been certified to be a credible broker.
OlympTrade Namibia allows you to speculate on the direction of prices of assets listed on major financial markets in the world, using binary options. On OlympTrade, you can trade:
- Currencies/forex (28 pairs)
- Commodities (metals)
It appears there are no individual stocks to trade on OlympTrade.
To start trading with OlympTrade in Namibia, you have to sign up; to do this, you have to undergo a registration process. This registration process is nothing complex at all.
There are several options through which you can do this. The registration can be done on the mobile application available on the Google Play Store for Android devices, as well as the Apple App Store for devices powered by the iOS. You can also do this on the broker website which is available for both mobile devices and PCs. OlympTrade also a WebTrader, and you can go to directly register from there.
How to Register on OlympTrade website
Upon successful registration, you are expected to check the inbox of the email you submitted for a confirmation mail; click the link provided in the mail.
You are then taken to a page for you to login into your account. Provide the username you entered during registration along with your password; undergo the human verification and get logged in into your new account.
Register via Mobile App
If you are making your registration via the mobile app, the process above is pretty much the same. You are asked to fill in the above information; then you are required to undergo a verification process to confirm the information you put in especially your email address.
Register with a Social Media Account
If you already have an account with either Facebook or Google, you can also make use of them to open the account. However, they must be signed in in your browser or mobile phone device. Once you click sign up with either of Facebook or Google, the registration is automatically done without need for any verification per se.
However, we have to note that the registration described above is not enough to get your account fully opened with OlympTrade Namibia. This is especially if you are going to be using more than a demo account to trade with OlympTrade. If you will make use of a live account and make actual deposits into OlympTrade Namibia, then you have to pass through a verification process.
This verification process basically entails you submitting certain documentations to OlympTrade. What this is needed for is to ascertain that you are the actual person you claim to be. The documents you have to submit typically include your proof of address and an acceptable identity document. Not all types of identity documents are accepted. The identity documents that are eligible are those that are typically issued by the government and can be verified by the government.
With OlympTrade Namibia, you can actually still perform some operations without undergoing the verification process yet. However when you want to withdraw your profits, you need to undergo the verification.
OlympTrade Demo Account
OlympTrade provides you with a $10,000 demo account with which you can make trades for free.
There is the Starter Status which is the most basic type of account and becomes available when you deposit the minimum allowable balance of $10. The maximum payout rate for a winning trade is 82%.
Then we have the Advanced Status. You need to deposit a minimum of $500 and a maximum of $1,999 to clinch the advanced status. Perks that are attached to this status include an increase of payout rate for successful trades to 84%; the ability to open up to 20 trade positions at the same time; access to consultation with a personal analyst, once every month; 7 already built-in trading strategies, and access to webinars and educational resources.
The final one is the Expert Status. To be a part of this, you need a deposit of at least $2,000, and the benefits that come with this include the increase of payout rate on winning trades to 92%; ability to open up to 30 positions; regular one-on-one training and access to a dedicated personal analyst; 15 trading strategies already built-in; daily exclusive trading ideas, amongst others.
OlympTrade Minimum Deposit in Namibia
The minimum amount you can deposit is dependent on the account status that you go for. For the basic Starter Status, you need $10.
For the Advanced Status, you need $500 minimum and for the Expert Status, you are required to put up $2,000.
OlympTrade has an array of channels through which you can make deposits into your trading account. This wide array of channels gives traders from different parts of the world access to multiple channels; as such, the inaccessibility of some services in their country cannot be a barrier.
The methods through which you can deposit capital into your OlympTrade binary options trading account include:
You can also make payments via debit or credit cards. Supported cards include those powered by Visa and MasterCard.
The processing time for deposits is instant.
You can pay through FasaPay, Skrill, Neteller, WebMoney and AstroPay.
Deposits via E-wallets should reflect in 24 working hours.
Although recently introduced, OlympTrade is one of the first binary options brokers to facilitate cryptocurrency payments. However, Bitcoin (BTC) is still the only allowed crypto coin through which you can make deposits.
OlympTrade Withdrawal Namibia
Just like with most brokers, the channel through which you made your deposit is also the channel that you will use for Withdrawal.
Irrespective of the account status, the minimum you can withdraw from your OlympTrade account is $10.
There is however no known maximum.
Is OlympTrade Legit in Namibia
As there are no express legislations in Namibia for OlympTrade in particular and binary options brokers in general, we can come to the safe conclusion that OlympTrade is very legit in Namibia.
In many other jurisdictions where there are binary options laws, OlympTrade is legal.
Is OlympTrade a Scam
OlympTrade Namibia is one of the best brokers you can find out there.
For one, it has a good history behind it. It has been in business for at least 7 years.
Furthermore, it has built a culture of credibility around it. It has good reviews everywhere you go.
It is also highly regulated by some of the most prestigious institutions in the financial regulatory space.
It is also an award-winning broker.