FX and CFDs broker Olympius Global provide only one trading account. The trading account is called the Standard account. Sadly, very little information on the trading environment like spreads, leverages, and the cost of trading. The broker claims to be operational from the UK, and it requires a minimum deposit of $ 250. Although it is not a valid claim and in this Olympius Global review, we will cover all the necessary information that will help our readers. Please read it completely.
About Olympius Global:
The leverage of 1:500 is provided that is considered generous. However, high leverages are risky and can cause significant damages. The higher leverages are banned in the regulation-oriented markets such as America, European Union, United Kingdom and Japan.
The broker also has a solid selection of trading assets. It provides many cryptocurrencies and CFDs over many indexes, several commodities, precious metals like platinum, gold and silver. Diversified trading assets play a critical role in risk management.
The Olympius Global does not share any vital information on its official website. The owner of this broker is not known. No official address is mentioned only UK based customer support telephone number is available. That certainly does not mean the broker is from the United Kingdom. Anonymity is a significant factor in recognizing a scam broker. Also, we could not find brokers registry in the UK based financial regulator.
However, the true nature of this broker can be drawn from the fact that Spain based financial regulator CNMV has blacklisted it. Also, the German financial regulator BaFin asked the broker to cease its operation for providing illegal brokerage solutions in the country. It means the broker is not authorized to provide its services in the regulated markets such as Australia.
The broker provides trading on an unproven web-based trading platform. The spreads saw on this trading platform us at 3 pips on USDEUR foreign exchange pair. The provided spread is vast and results in higher trading costs at Olympius Global.
The withdrawal at this broker is capped at a minimum of 500 dollars. It also charges withdrawal fees.
Is Olympius Global scam or legit?
The broker is anonymous, with many warnings against it. The spread is high and not beneficial to traders. Also, leverages are highly unaccepted. The broker Olympius Global is a potential Australian trading scam. The investments of traders possess a high risk of fraud, and this broker must be avoided.