Demo and real accounts of the Olymp Trade broker. Is there a difference?

[Flankaaa]

I train on Olymp Trade's demo account. Not bad so far. I am interested in the real market rate of this broker and how its promises correspond to reality.

 

[Owesdr]

Olymp Trade broker is relatively young, but promising. Their trading platform is developed quite qualitatively. In any case, it's easier for a novice to get used to it than to the generally accepted MT4, so the broker mainly attracts novice traders. For example, you can automatically set the stoploss and takeprofit levels when opening an order. There were no commissions for funds withdrawal. It's a pleasant thing. In addition, the list of assets has quite a lot of cryptocurrencies. It is now popular, but other even eminent brokers still lag behind in the number of cryptocurrencies.

 

[Ziggrs]

It's funny that you mentioned cryptocurrencies. I have a question on this topic. I noticed that there are no spreads on Olymp trade for some reason. There're commissions instead. If you compare the Olymp trade's commission and ******-exchanges' spreads, they're almost the same. But the question why commissions instead of spreads remains open. I think it's quite a disputable decision, far from accepted in the market.

 

[Owesdr]

The question is incorrect. Every ******-exchange has orders commission. It's stated in their rules. Commissions can be compared, but Olymp Trade indeed doesn't have spreads. That's another advantage of it.

 

[Flankaaa]

This is a disputable argument. I've heard some exchanges don't have commissions.

 

[Owesdr]

You might be talking about poloniex. Yes, sure, they don't charge commission in some cases, but in particular, this exchange doesn't do that only with orders with great monthly volume. If I'm not mistaken, turnovers should be about 5-7 million dollars. The number is huge.

 

[Flankaaa]

No, I meant bitfinex. It doesn't matter. Bitcoin moves well and spreads don't matter much. I am more interested in another question. Why do you think bitcoin has grown? Everyone is talking about the impending crisis, it would seem pessimistic, but investors think otherwise.

 

[Ziggrs]

Analysts explain the situation by a technical factor. Some say that the growth only confirms the downtrend of bitcoin. Like it's supposed to be in a fall. I still don't get the logic…

 

[Owesdr]

According to the technical analysis, the growth of bitcoin from three thousand is quite natural, since the fall was too fast. That's all. If we draw a trend line from the historical highs to the peaks, we will see that BTC fell from the price of 6000 dollars too quickly. If the demand for ****** currency is not confirmed by the fundamental factor or at least by investor sentiment, then in the future the lows will be updated. Strictly by the trend line.

 

[WaveJumper]

I train on Olymp Trade's demo account. Not bad so far. I am interested in the real market rate of this broker and how its promises correspond to reality.

You will find there is a difference between a demo accounts margins / slippedage, you need to check the sites actual live trading figures. Which is generally why people open a demo account do well then go live and loose everything. Do your homework properly and remember around 80% of traders loose their money.

 

[estwig]

What is this, the funky avatar thread!

 

[WaveJumper]

Don’t know about that but this thread made me smile being in ‘tradespeople’

 

[Ziggrs]

So the growth was predicted? How is this upward movement called according to technical analysis? A bounce?

 

[Owesdr]

You can call it so. Generally speaking, the technical analysis has recently been very suitable for trading cryptocurrencies, since the influence of fundamental factors on the ****** market has weakened. Too much high-profile economic news. In the future, due to the regulation of the ****** market, the role of the Foundation will increase, of course. But not soon.

 

[Flankaaa]

What websites can you recommend for chart relevance comparison?

 

[Owesdr]

I’m constantly checking with finance.yahoo and investing. For example, the bitcoin rate on Olymp usually coincides with the charts of these two resources. Checking the rate of bitcoin with ******-exchanges is useless. Each ******-exchange has its own chart. You can also read the latest news and analytics there.

 

[Ziggrs]

Analytical reviews are rarely useful when it comes to practical trading. Usually they are all justified by technical analysis, and it rarely comes true.

 

[Owesdr]

I don’t agree. Technical analysis works well with exchange’s assets and is also suitable for crypt. But it’s bad for currencies prediction. Previously, I constantly traded with Nonfarm Payrolls, and now it has become extremely difficult to work on news.