Olympus Markets (Olympusmarkets.com) is a forex broker who claims to make users win big. Some members however have found this statement to be false. Kelsey Logan lost all her initial deposit minutes after she started trading. We decided to investigate Olympus Markets to find out the truth about this Forex broker. What we found out will without a doubt make you shiver. Trickery used by scammers revealed, find out how!
According to their homepage, OlympusMarkets is the broker who will satisfy your trading appetite. Users are asked take advantage of their strategic skills and professional services. This platform will make you make the right decision. This is nothing but a lie. They claim that their platform is the best in the industry. We beg to differ. Below are the reasons why this cannot be true!
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According to their homepage, users have an option of trading with over 200 assets. They claim to have an easy to use trading tools and indicators. Claims of having the fastest market execution can also be seen. What’s more of importance is that they claim to have a mobile trading platform. This ensures that users can trade on the go.
When registering, members are issued with a $250 start up bonus. You may think that this is a good incentive but it’s illegal. Yes, you are not required to accept any trading bonus. Forex industry regulators have made sure that all brokers who offer bonuses are shut down. This is why we believe we are dealing with a fake broker. Issue of bonuses is never and has never been accepted.
Olympus Markets offers trading strategies which they claim help users trade like pros. Problem with this statement is that they don’t tell us how. They don’t tell us what strategies they are using and how users will gain from them. This is another promise that we believe is simply meant to entice users into signing up with Olympus Markets.
Claims of offering members with the best trading conditions can also be seen. Problem we have with this is that they don’t actually tell us what these conditions are. They just plaster fake pictures showing how a trader has won using their trading conditions. Best they could have done is show us the way they do it. This way, we would have more trust in Olympus Markets.
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According to their website, they claim Olympus Markets has an award-winning platform. Problem with this claim is that they don’t mention the award they have won. It would have also been okay if they actually posted the photo of the award certificate. A certificate would have ensured we verified whether the award-winning claim is true or not. Sadly, we cannot verify this claim.
You can also see that these scammers have a fake award claim. Olympus Markets claims to have won multiple awards. One of the visible mistakes they make is say that we can easily see the awards below. Nowhere on the platform can we see any awards being thrown at OlympusMarkets. We believe that these are just theatrics to ensure traders believe this platform is real.
We noticed that the demo account has been altered to ensure users make winning trades. Yes, we tried the demo account using numerous accounts and the results were the same. We all made wining trades even when we placed trades randomly. What we are sure of is that these trades have been tailored to win.
When users see that they are making successful trades, they will be swayed to open a live account. This is a well-known strategy that scammers use to sign up users. They make sure demo account makes only successful trades to make users believe the trading platform is legit. Honestly, we should all avoid this platform as we are sure it will close very soon.
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Olympus Markets has five different account types. These accounts vary in service delivery as well as deposit requirements. These accounts are named Jade, Ruby, Emerald, Sapphire, and Diamond. Jade account holders come with a 40% bonus level. Ruby account holders come with a 40% bonus and a junior dedicated account’s manager. Emerald comes with a 60% welcome bonus fee with silver spreads of 1:500.
Sapphire account holders come with 80% welcome bonus and gold spreads. Diamond account holders come with 100% welcome bonus with gold spreads. With the last three accounts, you will get a VIP dedicated account manager. You are also promised a personalized trading strategy that no member has taken advantage of.
During our investigation, we learn that these account managers are hired call center executives. Yes, these scammers have hired call center executives to act as account managers. What’s worse that these so-called accounts managers are hired Asian natives mostly from India. Some of them no nothing about Forex trading.
Once you see that your account is making successful trades only, you will be called by these managers. You will be asked to deposit even more money in order to make real profits. At this juncture, you will be required to deposit over $10,000. This is the amount they ask for as they claim it’s enough to make real profits.
What we found disturbing with Olympus Markets is how easy it is to deposit with them. When it comes to withdrawing money, it becomes problematic. According to the website, you can deposit with Visa, MasterCard, BitSend, Neteller, BPay, and Wire Transfer. A lot of users have had trouble withdrawing even half of their deposits with Olympus Markets.
Problem with withdrawing is not even delays, it’s lack of response. You are not able to get any response from customer service desk. Reason is that they also don’t have a live chat support. With this day and time, all trading platforms should have a live chat support. We believe this is a scam whose main intention is to lure people into signing up with them.
We have no doubt in our minds that we are dealing with a fake forex broker. Olympus Markets is a scam that all traders should avoid at all costs. No matter the promises made, we have unmasked irrefutable proof we are dealing with scam artists. No one should even try and accept any incoming email message to sign up with this broker.
We have no other option but to blacklist Olympus Markets as a scam. You should avoid this scam and never deposit money with it. You don’t have to pay the price of dealing with fake forex brokers.
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