Olymp Trade is a large broker that supports several trading terminals. The list is not limited to the platform and mobile apps of the same name. Olymp Trade now provides an opportunity to work in MetaTrader 4.
An increase in the number of products led to the appearance of various account types. From this article, you will learn about their benefits and how to get the one you need. Let’s start with the Olymp Trade demo account.
All registered users get a demo, or training, account. In fact, it is a free trading simulator, which can be used for following asset charts and making trades – however, traders use demo currency units when practicing in a demo mode.
The use of the simulator is not limited in time. And if there is less than 5000 units on the demo account balance, a trader can easily reset it to the initial amount of 10000 in just 2 clicks.
The trade making process is as close to the real one as possible. It makes it possible to test new trading strategies in the demo mode so that you could use them effectively when making real investments.
To create a MetaTrader 4 account, click this link: www.metatrader.olymptrade.com. Moreover, if you already have an account on Olymp Trade, you don’t have to create a new one. Just use the login information for your Olymp Trade account.
There are two account types available for both demo and live modes— ECN and Standard. Using the ECN account, you trade with zero spread and a fixed commission. With a Standard account, a trader has to pay the spread, which starts at 1.1 pips, but does not have to pay a commission for opening a trade.
To figure out how things work, create demo accounts of both types. Do not forget to experiment with a SWAP free option. It replaces a fixed commission for holding a position overnight.
After logging in to www.metatrader.olymptrade.com, you can create a demo or live account in MT4, select the account type (ECN or Standard) and create an account password. In the next step, you will get a login to enter the MT4 terminal.
Your account data (number, password) for MetaTrader 4 can be used for logging in to the main MT4 terminal, its web version and mobile apps. You can change your account password in your user account settings.
A trader should improve their skills gradually from one trade, strategy, or account type to another one. However, it is better to start with a demo account, and Olymp Trade is the right choice for doing so.