There is an extended customer loyalty system on the Olymp Trade platform. It includes three levels of user statuses. A Starter status is a basic service level. With an Advanced status, traders get more privileges. And there is an Expert status for real professionals.
To reach a new status, you should deposit a certain amount into your trading account. Besides, as part of the loyalty program, all users gain experience points (XP) for their trading activity. These points can be used to get rewards, upgrade a status or extend the current one. But first things first.
How to Get a Status for Topping Up
Traders get a Starter status even when they make a minimum deposit. They need to deposit from $500 to $1999 to reach an Advanced status, which provides increased rate of return and unlocks some exclusive trading strategies.
Expert is a premium status that is only available after making a deposit of $2000 or more. With this status, a trader unlocks all the platform functionality and the best trading conditions, including maximum yields, weekly consultations with a personal analyst, minimum commissions for making trades on Forex, and much more.
You can find the details on all perks of the statuses at the end of this article or here.
The System of Statuses
With the exception of Starter, each status implies that a user will get certain benefits for 30 days. The countdown starts from the moment a trader upgrades to an Advanced or Expert status.
During this period, a trader gets increased return on the trades they make, pays lower commission for opening trades on Forex, gets professional analytics, uses exclusive trading strategies, etc.
And before the 30-day period ends, the trader needs to either accumulate enough experience points or get a special reward on their “Trader’s Way”. A new period is activated as soon as either of these conditions is met.
Experience Points (XP)
A trader gets experience points (XP) for every trade they make in a live account. Profitable trades bring more points than losing ones or those with zero result.
A trade amount also affects the number of XP one can get when trading: the larger the investment amount, the more points one earns. A similar rule applies to the multiplier when trading in the Forex mode. You will get more XP for trades made with a х500 value than for those made with a х100 multiplier.
As mentioned above, you can use experience points to upgrade your status or extend the current one. However, you should hurry to earn them as the number of XP you get is reset every 30 days.
|Status||The number of XP you need to get it||The number of XP you need to extend it|
|Starter||you get it automatically when making the first deposit into your live account||none|
|Advanced||25 300||42 000|
|Expert||120 000||210 000|
A Trader’s Way is a system of rewards with a large number of sublevels between the statuses. Upon completing each of these levels, you get a new reward. It can be a new indicator, a risk-free trade, a deposit bonus or anything else.
For example, for earning 50 XP you will get a Moving Average Strategy Adviser, which searches for signals and lets you know when the time is right for you to open a trade!
More About the Privileges
Note that the basic functionality of the platform – 4 types of charts and 34 analysis tools – is available to traders with any status.
- A rate of return of up to 82%
- Basic functionality of the platform
- Free training
- A rate of return of up to 84%
- One consultation with an analyst per month
- 7 built-in strategies
- 1 private webinar a week
- Funds withdrawal within up to 3 days
- Up to 10% discount on position opening fee on Forex
- A rate of return of up to 92%
- Risk-free trades
- Daily consultations with an analyst
- Trading signals
- Exclusive trading ideas
- All built-in strategies
- 3 private webinars per week
- Personal training
- Funds withdrawal within up to 24 hours
- Up to 20% discount on position opening fee on Forex
You will find more information on the special website.
We hope that this information has helped you better understand what Olymp Trade statuses mean, how you can get them and what you need to do to avoid losing your premium status. If so, do not put off starting and make trades right now — your “Trader’s Way” is waiting for you!