Trade Olympic Review: Tradeolympic.com Bane Broker Scam
Trade Olympic (Tradeolympic.com) is another ridiculous online platform using false information. TradeOlympic is claiming to be located in the United Kingdom and United States. Assets they profess to offer include Binary Options, CFDs, Cryptocurrency, and Forex. The broker is using misleading information to throw off investors. And this is the main reason why we must expose this broker. They are openly stealing from unsuspecting online investors. The trend must stop. Read this honest TRADE OLYMPIC Review for more on them.
About Trade Olympic
On their about us page, Trade Olympic is claiming to be among the leading brokers in the world. It is clear this is a cloned website immediately we set eyes on it. The website is a close resemblance of another scam TradeOption24. Everything on the website is the same which is proof TradeOlympic is a scam. Stay away from cloned websites as they offer harsh trading conditions. The only way to trade safely is by using acclaimed experts who poses enough experience.
Trade Olympic is offering the same features as TradeOption24, a scam we did a review a while back. Scam brokers will recreate websites to mess around with unsuspecting investors. The case is seen with the broker’s false claims. In the States, Binary options trading is banned and this was the first indicator of a scam. Binary Options is allowed in other jurisdictions such as Asia and Europe. These scam brokers are professing to offer assets in jurisdictions not applicable, the second mistake.
Assets Found on Trade Olympic Platform
Binary Options trading is offered by this broker with a guaranteed 95 percent ROI. And this is another false claim posted on their website. Any broker who promises ROI above 90 percent is lying. The market is volatile and making such a guaranteed profit margin remains a huge problem. Minimum investment set by the broker on Binary options is $300. Bitcoin is another commodity listed on their platform. They fail to mention the features available for trading Cryptocurrency.
Commodities available on the platform include Agricultural, energy, and metals. They have failed to inform members on the leverage and spread available on commodities. Trade Olympic is offering major and minor currency pairs on the platform. They are also claiming to offer US and global stock indices on their website. These include China 50, Germany 30, FTSE 100, NASDAQ, among others. They promise shares from over 30 US companies such as Apple and Facebook.
Business Proprietor
No one has come forward and claimed to be the owner of this platform. If the broker was such a success, why fail to claim responsibility. Trade Olympic is another anonymous online trading platform operated by offshore brokers. Anonymous online trading platforms are risky and should be ignored. Signing up with unknown brokers will lead to security breach of your banking information. These scam artists are far from offering any legit trading services. And this is the reason they remain hidden from members.
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Domain Register Details
Records show tradeolympic.com was created on 23rd February 2020. And this is concrete proof the broker lacks the experience they claim to poses. The website is barely four months old and they still claim to be superior. Stay away from this broker or else risk losing every penny you have. Thanks to domain registers, one can determine the actual date a website was created. And this helps us to prove their online reputation.
License and Registration of Trade Olympic
Trade Olympic is NOT LICENSED OR REGISTERED by any regulator in the industry. Disclaimer at the footer of their homepage claims they are regulated by CFTC, CySEC, and IFSC. On the about us page, the broker claims to be regulated by Financial Services Board. The FSB is located in South Africa and they also claim regulation by Financial Conduct Authority. All these regulatory bodies have not licensed the broker.
Scam brokers will use names of regulatory bodies to throw off prying eyes. The entire website has no information regarding any license and registration number. If these regulators issued a license, it could have come in form of a number. It is clear TradeOlympic is using false information to try and throw off investors. The broker is far from being licensed by authorities. Stay away from the platform or else risk losing your entire funds. The broker has no legal documents to prove regulation.
Limitations of Trade Olympic
Account Details
Trade Olympic is furnishing users with four account types to choose from. The accounts listed include Classic, Standard, Premium, and VIP. Classic account holders must deposit $500 to start trading. The industry has set $250 as the acceptable trading deposit. Any broker asking for a higher amount is openly overpricing. These accounts all have the same features apart from daily signals and spreads.
Contact and Customer Support
The broker uses a variety of communication channels with their members. They include chat messages, emails, and phone numbers. What the broker fails to reveal to users is they will choose which emails to respond to. The phone number listed is a virtual phone number which is ever busy. Any emails referencing withdrawal will be an indication of the member’s intent. And the broker goes ahead and blocks contact with the said member.
Deposit and Withdrawal
A look at the entire website reveals no information regarding depository channels. Users get no information regarding the withdrawal procedure and how it works. And this is proof we are dealing with a rogue broker. Why don’t they give this valuable information on the homepage? Depositing funds is either via Bank Transfer, Bitcoin, Credit/Debit Cards, and Neteller.
Trading Platform
Trade Olympic is claiming to have three trading platforms on their homepage. These platforms include Premium Trader, MT4, and MT5 trading terminals. The premium trader is a web based trading platform which the broker prefers. A huge problem with the premium trader is lack of proper trading tools. They lack security software which is vital in protecting users. The results are having a platform which is unstable.
Safety of funds with Trade Olympic
Without a license, it means segregation of funds is not taking place. Members are depositing funds straight to owner’s bank account. The broker is laughing all the way to the bank as they are pooling funds in one account. Steer clear of this broker as they have nothing else to do than steal from investors.
Scam or Legit Trade Olympic
After reviewing all the facts, it is clear Trade Olympic is a scam. These brokers will drive traders insane with their harsh trading conditions. Use of false information to mislead unsuspecting investors is also another reason to stay away. These are rogue brokers who have nothing else to do than steal from investors. With a cloned website, it is clear these scam artists lack imagination.
Verdict
Adding the broker to our scam blacklist will alert our readers on the risks involved. Warn your family members from joining any of their affiliate programs. Mark any of their promotional emails as spam and don’t sign up with the platform. These are scam brokers who have nothing else to do than steal from investors.
Continue reading our reviews for more on online trading services. Ensure you use industry-approved brokers when dealing with Crypto trading. It is the only safe way to trade.
November 15, 2021 @ 9:27 pm
These are scammers. They scammed me by telling me they are shipping my profits, only for the courier to charge even more.
August 12, 2022 @ 12:42 pm
They still around? my friend commit suicide bcos of them. Karma befall on them.