A deposit bonus is a kind of freebie that is offered to you from Olymp Trade depending on the type of account you have and the amount of money you wish to deposit. Here, I want to tell you how to use them most efficiently.
Key Takeaways🔑
| →Olymp Trade’s deposit bonus is an added incentive to traders, offering up to 50% of the deposit amount. |
| →The deposit bonus provides traders with extra trading funds but cannot be withdrawn directly. |
| →Despite the bonus, traders should continue to focus on learning, practicing, and managing risks for long-term trading success. |
Contents
Collect your Olymp Trade deposit bonus
The deposit bonus is something you get extra from Olymp Trade when you are depositing money onto the account. If you are a holder of the VIP account you can get much more. But the bonuses start from $30. That means every time you deposit $30 or more you can receive a bonus. And the more you invest, the more you get. Check the table before for the available deposit bonuses. They range from 10 to 50 percent.
Another chance to receive extra money from Olymp Trade is through various events and competitions organized by the broker. The specific information will be announced beforehand.
What to do with a bonus?
Olymp Trade bonuses are in fact virtual money that you can use on trading. There is no possibility of withdrawing them from your bank account. But this is an extra amount on your Olymp Trade account and when you make a profit with them, this is something you can withdraw.
The bonuses can change quite a lot in your situation. Let’s say you deposit $100 which means you will receive a bonus of $20. Together it gives $120 to your trading account. You can, for example, open 12 transactions for $10 each. This is more chances to practice your skills, knowledge, and mental attitude. Use the bonus wisely.
Pros and Cons of Olymp Trade’s Deposit Bonus👍👎
Pros:
- Provides additional trading funds that can be used to open more positions.
- Offers a good incentive for traders to deposit larger amounts.
- Can be a good buffer, especially for new traders learning to navigate the markets.
Cons:
- Cannot be withdrawn directly as cash.
- May encourage overtrading or taking unnecessary risks due to the availability of additional funds.
- Some traders may misunderstand it as free money without understanding the trading conditions attached.
| Deposit Amount | Potential Bonus |
|---|---|
| $30 – $99 | 10% |
| $100 – $199 | 20% |
| $200 – $499 | 30% |
| $500 – $1999 | 40% |
| $2000 and above | 50% |
Super offer for VIP account holders
Olymp Trade has prepared a special offer for those who opened a VIP account. If you deposit $2,000, you get a bonus of 30% which means $600. With a deposit of $5,000, you get as much as 50% which gives $2,500. That is a lot of money. The more money you have on the account the more possibilities in front of you. You can try various methods, different approaches, and at the same time you lower the risk.
Having all these perks will make your journey to success a little easier, but this still doesn’t beat learning, practice, and diligence. You still have to do all those, and at the same time face and manage risk, to succeed.
You can also read about the Olymp Trade VIP account in our article on that matter.
Good luck!
Q&A💡
- Q: Can I withdraw the Olymp Trade deposit bonus directly?
- A: No, the bonus cannot be withdrawn directly. However, profits made from trading with the bonus can be withdrawn.
- Q: Does the bonus affect my trading strategy?
- A: The bonus provides additional funds for trading, which can potentially allow for more flexibility in your trading strategy. However, it should not encourage overtrading or unnecessary risk-taking.
- Q: How can I maximize the use of the deposit bonus?
- A: Use the bonus to explore different trading strategies and learn more about the markets. Remember, the bonus is not free money and should be used wisely.
- Q: Does every deposit qualify for a bonus?
- A: Yes, every deposit above $30 qualifies for a bonus. The percentage of the bonus varies depending on the amount deposited.
- Q: Do VIP account holders get a higher bonus?
- A: Yes, VIP account holders can get a bonus of up to 50% of their deposit amount, which is higher than the bonus offered to regular account holders.