Active and loyal traders get riskless transactions as an award. Such transactions help even those who don’t understand anything in the financial markets to concentrate, save and make money.
So what is a riskless transaction? Is it a bonus, a cheat code or just a reserve fund of a trader? In this article we will tell you all details about the most interesting privilege of Olymp Trade users.
What is a riskless transaction?
This is the trader’s right to carry out a transaction for a certain amount without losing money.
If the forecast is correct the user receives a return. But if a negative scenario is realized, the amount of the riskless transaction is returned to the trader’s account.
How to get a riskless transaction. Method one
It is important to understand that a riskless transaction is an advantage of VIP clients. Traders often receive these transactions first only after moving a certain amount into their trading accounts to get a VIP status.
Then the user receives a number of riskless transactions proportional to his trading turnover. That is to say, to the total amount of transactions, regardless of their outcome.
For example, to get 4 $ 5 riskless transactions, you need to have a turnover of $ 1500. To get $ 35.000 riskless transactions, the trading turnover in the previous month should be $ 1.5 million.
How to get a riskless transaction. Method two
Follow our contests, tournaments and other activations on social networks and blog. For answering questions and completing assignments, you can receive riskless transactions as an encouragement.
VIP department’s open marathons of webinars are the most vivid example of how you can combine the useful with the pleasant. For the whole period of the marathon, traders received riskless for a total amount of more than $ 100,000.
What is an expiry date of a riskless transaction?
Traders are very worried about the period of time when they can use a riskless transaction. Can it expire? Here is good news for them: such deals do not expire. You can take your chance whenever you want.
How can I use a riskless transaction?
Click on the shield icon. Then click to “activate” the transaction of the amount you need. You can do the same things using the mobile version of the platform.
If everything is ok, you will see shield-looking buttons for choosing the direction of trades you want to enter, and you will see the value of the riskless transaction in the input field.
Carry out a transaction. Please note that you can deactivate a riskless transaction only before opening a position.
What is the best way to use a riskless transaction?
Experienced traders say that riskless transactions are your reserve fund, which one should use only in extreme cases.
However, one of the best-known ways of using them rationally is taking another “step” in the losses compensation system.
Let’s study a case. Suppose a trader has a $ 50 riskless transaction. Here is how he can use it:
- as the 4th step of the losses compensation system, if he begins with $ 3 ($ 3, $ 7.5, $ 18.5, $ 46.88);
- as the 3rd step, if he begins with $ 7 ($ 7, $ 17.5, $ 43.75);
- also as the 3rd step, if his first step is $ 8 ($ 8, $ 20, $ 50).
Riskless transactions are more than just a compensation mechanism. Using them at a critical moment, you can reduce the risk of losing your funds to zero. Is not this what a real trader needs?