There are a number of ways to participate in and profit from global financial markets – the stock, cryptocurrencies, commodities, ETFs and indices markets. But most of them are not accessible to retail traders like us. Even though increasing technology breakthroughs are making it quite easy for us to participate in stock markets like that of the USA, the problem of accessibility is still there.
For instance, it is quite expensive, if not impossible, to purchase stocks like those of Amazon Inc, which is currently trading around $2,000 per share.
However, as technology advances, the barriers that existed in the past are being dismantled, giving retail traders access to almost any market whatsoever. In fact, this time around, you don’t need to own the actual financial asset, all you are interested in is the price movement of such assets to make good profits.
This is done through derivatives trading. One of such popular derivatives is binary options.
Binary options trading involves speculating on the directional movements of prices of financial instruments such as stocks, currencies, commodities, indices and others.
As such, through binary options, you can bet on the upward or downward movements of these instruments, from anywhere in the world, all over the internet.
Binary options offer ample profit-making opportunities, but we must also note that it can be very risky as you may lose all your capital, due to the never-ending volatility. However, if you learn the game well and apply proper risk management, you can emerge quite profitable.
Just like you need a stockbroker to purchase shares, so also do need a binary options broker, who will provide you with a platform to make trades. However due to the fact that in binary options, you deal with all brokers online and never get to meet physically, you have to take extra care.
For one, there are a number of scams in the name of brokers. Furthermore, some “real” brokers provide sub-optimal services to traders who use their platforms. These and others, are reasons why you should carefully select a reliable broker. One of such reliable tested and trusted brokers is OlympTrade.
OlympTrade Login Kenya
OlympTrade is an award-winning binary options popularly deemed as one of the best in the industry, as a result of the vast array of beneficial services that it makes available to clients that trade on its platform.
With OlympTrade, you can participate in the most liquid financial markets in the world, and with the ability to make good profits from these markets. You can speculate on the directions of forex, commodities, stock indices, crypto coins and exchange-traded funds (ETFs).
OlympTrade is present in several countries of the world, except those countries whose governments have placed a ban on the trading of binary options. Such countries include Japan, Canada, USA, Russia, Iran, Norway, New Zealand, Australia, Turkey, amongst others. However, in Kenya, there are no restrictions placed on trading in binary options and as such, OlympTrade is much available for Kenyan traders.
To however make use of OlympTrade in Kenya, you have to sign up; to do this, you have to undergo a registration process. This registration process is nothing complex at all.
There are several options through which you can do this. The registration can be done on the mobile application available on the Google Play Store for Android devices, as well as the Apple App Store for devices powered by the iOS. You can also do this on the broker website which is available for both mobile devices and PCs. OlympTrade also a WebTrader, and you can go to directly register from there.
The Website Registration Option
Upon successful registration, you are expected to check the inbox of the email you submitted for a confirmation mail; click the link provided in the mail.
You are then taken to a page for you to login into your account. Provide the username you entered during registration along with your password; undergo the human verification and get logged in into your new account.
The Mobile App Option
If you are making your registration via the mobile app, the process above is pretty much the same. You are asked to fill in the above information; then you are required to undergo a verification process to confirm the information you put in especially your email address.
The Social Media Account Option
If you already have an account with either Facebook or Google, you can also make use of them to open the account. However, they must be signed in in your browser or mobile phone device. Once you click sign up with either of Facebook or Google, the registration is automatically done without need for any verification per se.
The Verification Process
However, we have to note that the registration described above is not enough to get your account fully opened with OlympTrade Kenya. This is especially if you are going to be using more than a demo account to trade with OlympTrade. If you will make use of a live account and make actual deposits into OlympTrade Kenya, then you have to pass through a verification process.
This verification process basically entails you submitting certain documentations to OlympTrade. What this is needed for is to ascertain that you are the actual person you claim to be. The documents you have to submit typically include your proof of address and an acceptable identity document. Not all types of identity documents are accepted. The identity documents that are eligible are those that are typically issued by the government and can be verified by the government.
Documents that fall into this category include the National Identity Card, your Voter’s Identity, the international passport and your driver’s license. Other documents like the Diplomatic Passport – if you have one – are also very much accepted.
Although this registration might seem as a burden some times, but it was actually meant for the best interest of you as a trader. Fraud and cyber-theft are big issues in the international financial system in general, and then in the binary options trading industry in particular. Persons who you do not know and who you do not give authority or access over your account may take control of it, and cause you harm.
Furthermore, these Know-Your-Customer procedures are required by the regulators under whom the binary options brokers are registered; and in order to comply they have to subject you to a verification process.
With OlympTrade Kenya, you can actually still perform some operations without undergoing the verification process yet. However when you want to withdraw your profits, you need to undergo verification.
Olymp Trade Demo Account in Kenya
One of the attributes of a good binary options broker is providing its traders with a demo account. The demo account can benefit your trading in countless ways. For one, if you are a newbie trader, it can help you practise your newly learnt trading skills; then, as an experienced trader, you may have some strategies that you may want to test out. The demo account works well in these cases.
Finally, it enables you to test out a broker so that you can decide if you want to trade with them.
OlympTrade provides you with a $10,000 demo account with which you can practise trading. This can be replenished anytime.
Olymp Trade Minimum Deposit Kenya
The minimum deposit required by OlympTrade Kenya is primarily determined by the type of account you want to go for.
For the live or real account, there are 3 account levels or ‘Status’ that a trader can have access to; they are Starter Status, Advanced Status and Expert Status.
The Starter Status account becomes available if you deposit the least deposit of $10, and comes with 82% maximum winning percentage.
The Advanced Status account is given to those who deposit between $500 and $1,999, and comes with an 84% winning percentage.
Finally, the Expert Status account becomes available when you deposit $2,000 and above. Apart from a winning percentage return as high as 92%, you are also given the ability to make risk-free trades.
OlympTrade Withdrawal Kenya
Before we know the channels through which you can withdraw, you must know the channels for Withdrawals.
To deposit you can make use of Visa or MasterCard debit or credit cards, as well as e-wallets such as Neteller, GlobePay, AstroPay, FasaPay, Skrill, WebMoney, as well as Bitcoin.
If you want to make withdrawals, you also use the same above channels. The minimum Withdrawals depend on the channel through which you use to make the withdrawal.
Is Olymp Trade Legal in Kenya?
One critical feature of a good binary options broker is that it must be regulated by relevant government authorities in charge of regulating financial services; and OlympTrade is not lacking in this aspect.
OlympTrade is registered with the International Financial Commission (popularly referred to as FinaCom), which makes it a part of other reputable financial services brokers across the globe. For being a member, it has to adhere to strict FinaCom rules, which border around providing the best services to clients, with utmost integrity.
However, when it comes to being regulated by specific financial regulatory authorities in Kenya, checks show that OlympTrade is not particularly regulated by any financial regulator in Kenya, such as the Capital Markets Authority (CMA). Nevertheless, this is not something to fear as no one can dispute OlympTrade’s credibility.
Is OlympTrade Kenya a Scam
OlympTrade is one of the most credible and trustworthy brokers you will find around. You can test this our assertion out yourself by conducting a very brief research online. Visit the broker’s app on your Play Store and check the ratings and especially the reviews.
You can then confirm for sure that OlympTrade is not a scam.