Is Olymp Trade Legal in Indonesia

To Tony Tan,

Actually, both forex brokers and binary option brokers originating from abroad do not have official legality in Indonesia. So, even foreign brokers who have legality from a credible regulatory body, if in Indonesia their status is ILLEGAL, unless they have a license from Bappebti.

Regarding binary option brokers, Olymptrade, which admits to cooperating with FintechFX, we cannot provide further comment on that. Our advice is, if this is not proven, you may continue option trading activities with that broker with the note to make regular withdrawals. However, if indications of scams or abnormal activity begin to appear, it would be better to separate the funds there to a more trusted broker.

Hopefully this can help.

So is Olymp Trade legal?

To Maulana Yusup,

Similar to the explanation above, namely all brokers from Abroad (even if they already have a license from a credible regulatory body) their status in Indonesia is ILLEGAL if they do not yet have a license from the Bappebti regulatory body. Thus, not only OlympTrade brokers are illegal in Indonesia. Other unregulated forex and binary option brokers are illegal.

Hopefully this can help.

Why am I suspicious of Olymtrade? Why when I deposit using internet banking, the destination is an individual's name, not the Indonesian Olymtrade bank? For example, I deposited $40 to Zainudin, the internet banking report shows it went to Zainudin, not to the Indonesian Olymtrade bank...? And unfortunately, all $40 was lost, understandably. I'm still new to this, and what makes me even more curious is I want to know how long the WD (withdrawal) time is...? Please advise....

To Agege,

If you have doubts, it is best to avoid it. Because basically, if you have a feeling of doubt or apprehension, it will certainly affect your trading atmosphere. If the trading atmosphere is disturbed, it will automatically impact your trading performance.

Therefore, to create a comfortable trading atmosphere, it is recommended to choose a broker that is guaranteed in terms of regulation and security.

Regarding the destination account for deposit transactions, most forex brokers and binary option brokers do use individual accounts. However, this only applies to brokers that can accept deposits/withdrawals via local bank transfers. This is because these brokers have IBs or representatives in Indonesia. So this is reasonable.

Regarding the speed of the deposit or withdrawal process, this depends on the transaction method chosen. However, generally, if using a transaction method via a local bank, transactions are usually processed within 1 to 2 business days. Please contact the broker you are using for more clear information.

Hopefully this can help.

I am very doubtful about Olymtrad

The reason is... some time ago I deposited 300 US$. Because I am still a beginner, I was afraid that the funds could all be lost. So I withdrew 200 US$.

Strangely, after I withdrew the 200 US$, the real account balance was only 55 US$. Even though I had only lost 20 US$.

Isn't this theft?

Please share your knowledge, masters, tips and tricks to profit frequently on Olymp Trade. For those with a lot of experience. Sharing is caring.

At Seputarforex, we have already provided several articles on how to trade options. Here are some selected articles that we have summarized:

• 5 Best Trading Strategies in Binary Options

• Making a Profit in 5 Minutes in Binary Options

• 7 Steps to Making a Profit in Binary Options

• Successful 60-Second Trading in Binary Options

Good luck, sir. Profit Greetings!

I am an Olymptrade user and have been using it for about 6 months now. So far, there have been no problems regarding withdrawals. It is true that it sometimes takes a long time, in my experience up to 10 days due to the need for identity data verification etc. But that was because I withdrew above USD200. If the withdrawal is below USD 100, I received it as quickly as 30 minutes and as long as 5 days.
If anyone has questions or anything else, their CS team is very responsive and cooperative. I always get satisfactory answers. Hopefully this helps other friends

Hello everyone.. Why wasn't the data verified during registration? Why is it only when we want to withdraw funds that we are informed about data verification? I haven't verified yet until now. Please make it easier. 

How do I register?

I deposited $20 the other day, bringing my total to $50. I withdrew $20 just last night and the money was successfully withdrawn. But it's true that if we deposit, it's not to a bank name but to an individual. However, the service is good, not complicated when withdrawing funds. I withdrew at 8 pm and it was already successful in the early morning.

How to register for OlympTrade and what are the next steps?

Is trading on OlympTrade illegal?

Thank you olymptrade, thanks to you my kitchen is still smoking 👍

To ANTHON,
it's possible your deposit wasn't $300, but $275.
Then you received a deposit bonus of $25, making a total of $300. Then when you withdrew $200 again, the $25 bonus will automatically disappear. Your remaining balance will automatically be $75 and you experienced a loss of $20. So the remaining balance is $55.

Would it be better if you checked in your trading history.

Although I no longer trade in binary options, I used to use Olymptrade for 2 years. During that time I made withdrawals safely. As long as you have verified your data when making your first withdrawal. And it takes up to 5x24 hours.

However, if you are in doubt, it is better to look for another broker. Because psychology greatly affects our trading.

Regards

I've been using OT as well and it's been safe so far, but who knows what will happen in the future.