When you signed up for the fresh Olymp Trade account, it is time to gain knowledge about the platform. With some previous experience with other trading platforms, it should be easy to get familiar with the Olymp Trade trading interface. And of course, we are here to help you. You can begin with our quick guide to the Olymp Trade user interface or just dive into this tutorial to get to know all the useful features and tools the Olymp Trade platform has to offer.
Key Takeaways🔑
| →Olymp Trade offers a user-friendly platform with many features and tools for traders. |
| →It provides comprehensive educational resources and market insights to help users make informed decisions. |
| →Olymp Trade offers both Demo and Live accounts, allowing users to practice before starting real trading. |
Contents
Main sections of the Olymp Trade trading interface
When you log in to the platform you will see something similar to the screenshot below. We have sliced the screen showing that actually there are 4 different sections:
- Top Bar.
- Chart Area.
- Trade Management.
- Trades and Orders.
Let’s take a closer look at each section so you will have a better understanding of each section.
Top Bar
- The question mark icon will take you to a submenu with a few informational items. From here you can access support chat. There is also the Olymp Trade Assistant section, where you can find answers on how to use technical indicators, how to read charts, how to make deposits and withdrawals. If you’d rather watch and listen, Video Tutorials may be something for you. For traders with VIP status, Olymp Trade prepared the trading signals section that is also available from this submenu.
- The “Hamburger” menu gives you access to your account settings and history. It allows you to change your profile data. From here it’s possible to initiate the withdrawal and deposit process. Connected Education and Analytics sections will give you additional insights into current market conditions.
- All the time your Olymp Trade platform can be used for trading on Demo or Live account. Here you can see an available balance on each account and you can easily switch between them.
- Make a deposit button is self-explanatory. It allows you to add funds to your real account or recharge your demo account, if necessary.
Chart area
- Here you can see the name of an asset that you are currently trading. In case of the financial derivatives, the payout rate is also included so you will know how profitable your trade can be. You can choose a different asset simply by clicking on the asset name.
- Compass icon gives you access to technical analysis tools such as technical indicators and drawing tools.
- Chart type selector allows you to choose the preferred chart format. You can switch between the line chart, bar chart, candlestick chart, or Heiken Ashi.
- The trade starts line is positioned at the current candle, just to show the distance between itself and End of the trade line. The time between them comes from the preset trade duration.
- End of trade line – see explanation above.
- Plus and minus buttons allow you to scale in and out your chart. This tool is useful when you want to focus on just a few candles or you want to see the bigger picture.
- Time frame selector allows you to change the time frame of the chart from 15 seconds up to 1 month. Depends on your trading style and the length of a transaction you can set a suitable period of single candle creation.
- The candle timer shows how advanced is the current candle. In other words, it simply tells you how much time is left until the current candle close.
Trade management
In the picture below you can see the trade management section for trading financial derivatives. It will be different when you choose to trade CFDs. You can read more about the differences in our guide on trading on Olymp Trade. Now let’s focus on financial derivatives.
- Trade duration. This is where you decide about the expiration of your financial derivative order. You can choose any time between 1 minute up to 23 hours.
- The investment amount is simply the amount of money you want to place in the upcoming trade.
- Custom order is used for pending orders. You can decide to open a new transaction in the future at a specified time or a specified price. It is useful if you don’t want to spend all day in front of your computer. Still, using pending orders should come from the rules in your trading plan and your trading strategy.
- Up (green) and Down (red) buttons are triggering your trade in the direction of your choice.
📈Pros and Cons of Using Olymp Trade📉
👍Pros:
- Easy-to-use interface, suitable for both beginners and experienced traders.
- Extensive educational resources available, including video tutorials and trading signals for VIP users.
- Offers the ability to switch between Demo and Live accounts easily.
👎Cons:
- The platform may be different when choosing to trade CFDs, which might require some time to adjust.
- While the platform offers many tools, it may take some time for new users to get familiar with all the features.
| Features | Olymp Trade | Competitor |
|---|---|---|
| User Interface | Easy-to-use, friendly | Variable (depends on competitor) |
| Educational Resources | Extensive (including video tutorials and signals for VIP users) | Variable (depends on competitor) |
| Account Types | Demo and Live | Variable (depends on competitor) |
Trades and Orders
This section of the Olymp Trade trading interface allows you to analyze your past performance. If you have opened trades you can follow them in the Trades tab (1). All your orders, current, and past, are visible in the Orders tab (2).
Get to know your tools
The Olymp Trade trading interface is simple. That doesn’t mean that you shouldn’t practice. But here is the great thing about Olymp Trade. You can open a demo account and perfect your skills. Have fun, click here and there, get to know Olymp Trade platform features. It will help you to avoid unnecessary mistakes when you start real trading.
All the best!
🔎FAQs
- Q: What educational resources does Olymp Trade offer to its users?A: Olymp Trade provides a wide range of educational resources including video tutorials, trading signals for VIP users, and a section on how to use technical indicators, read charts, and make deposits and withdrawals.
- Q: Can I practice on Olymp Trade before starting real trading?A: Yes, Olymp Trade offers a demo account where you can practice and familiarize yourself with the platform before trading with real money.
- Q: What are the account types available on Olymp Trade?A: Olymp Trade offers both Demo and Live accounts. You can easily switch between the two according to your needs.
- Q: How user-friendly is the Olymp Trade platform?A: Olymp Trade is known for its easy-to-use interface which is suitable for both beginner and experienced traders. However, it might take some time for new users to get familiar with all the features.
- Q: Is the Olymp Trade platform different when trading CFDs?A: Yes, the platform interface changes when you choose to trade CFDs. It’s recommended to get familiar with this layout before starting CFD trading.