Traders dream about spectacular success. The first step to reach it is already made. You have decided to invest with an Olymp Trade broker. Now is the time to get familiar with the platform. This guide will help you to get through it.
Major parts of the Olymp Trade interface
You can divide the Olymp Trade interface into a few parts as I did in the picture below. These sections are top bar (1), chart area (2), trade management (3) and tools sidebar (4).
You need to understand what each section is about in order to use the platform to the fullest. Let’s see what is in each part.
- Olymp Trade offers two types of account. There is a demo account and a live one. You can switch between them as well as check the balance by clicking on the button marked as 1 in the above picture.
- You can deposit money in your live account or recharge the demo one by clicking a yellow button “Make a deposit”.
- Here are your profile and current status.
- You can add a new chart using the “+” button. You can open many charts and they will be visible in tabs (2).
- Instruments tabs. In this place, the name of the asset is displayed together with the payout percentage. It is very convenient to switch from one chart to another using tabs. When you click the star icon you will close the tab and connected chart.
- The vertical line marks the beginning of the trade.
- The other line shows when the trade is supposed to finish. The distance between these two lines depends on what expiration you have previously chosen in the trade management section.
- This is a candle timer that tells you how much time is left to the closing of this particular candle.
- When you press this button you will be able to choose a preferable chart type. Your options are Japanese candlesticks, bar chart, Heiken Ashi and area chart.
- Here you will find all the technical analysis tools such as indicators and the drawing tools.
- This button allows you to split the screen and trade on 2 different charts. It is very useful when you want to observe 2 different instruments or 2 different chart time frames.
- A minus button allows you to scale out the chart so you can see a bigger picture.
- The time frame of the chart. You can click on it and then you will be able to select a different time frame. You can set as little as 15 seconds or as much as 1 month.
- A plus button allows scaling in the chart. This way you will be able to focus on several candles only.
The following picture was taken for fixed time trades. Be aware that there are some differences when you wish to trade CFDs.
- The amount of money you are investing in this particular trade. You can write it in manually or use plus-minus buttons to adjust the amount.
- The duration of your transaction. Again, you can use plus-minus buttons, select time from the list or write a preferable time. A position can be opened from the 1 minute time up to 23 hours.
- This button allows you to order opening a position in the future. You may choose a specific time you want your trade to be opened or a particular price. Pending orders should reflect your personal plan and trading strategy.
- The coloured buttons trigger your trade. Click the green one when you want to open a long position. The red Down button will open a short trade.
Trades and orders
From the left sidebar, you get access to additional features such as:
- Your past and current trades and orders.
- Help, where you can seek the answers to your questions by searching FAQ, contacting the support or personal analyst. There is also Help with Trades section, which can be very useful if you are a beginner in trading.
- Settings of the platform such as language or colour theme. Adjust the platform settings so it is more transparent and encouraging to you.
- The three dots icon represents more features like a blog and educational resources or deposits and withdrawals. From there you can also manage your financial operations such as deposits and withdrawals.
The Olymp Trade interface is not much complicated. You can get familiar with it really fast. I encourage you to experiment with different settings. Click here and there and see what the result will be.
The good thing is, Olymp Trade has a free demo account in its offer. There you can check how the various features work without risking your money.
Enjoy Olymp Trade!