Olymp Trade Deposit and Withdraw Money in Nigeria
In Nigeria, the accessibility and ease of financial transactions play a pivotal role in the adoption and success of online trading platforms like Olymp Trade. Among the crucial aspects of this user experience are depositing funds into trading accounts and withdrawing profits. This guide aims to explore the methods, challenges, and solutions associated with depositing and withdrawing money on Olymp Trade in Nigeria.
How to Deposit Money in Olymp Trade Nigeria
What Payment Methods Can I Use on Olymp Trade?
There is a unique list of payment methods available for every country. They can be grouped into:
- Bank cards.
- Digital wallets (Neteller, Skrill, etc.).
- Payment invoice generation in banks or special kiosks.
- Local banks (bank transfers).
- Cryptocurrencies.
How do I make a Deposit in Olymp Trade Nigeria
Click the "Payments" button.
Go to the Deposit page.
The minimum deposit amount is just $10/€10. However, it may vary for different countries.
Select a payment method and enter the amount of your deposit. Click "Next" blue button.
Some of Payment Options in the list.
The system may offer you a deposit bonus, take advantage of the bonus to increase the deposit.
If you top up with a bank card, you can store your card details to make one-click deposits in the future.
Click "Confirm" blue button.
Choose "Perfect Money account" and click "Make payment".
Enter you Member ID and password.
Check your email and enter PIN code to continue.
Click "Confirm Payment".
Click "Continue".
Now you can trade on Real Account.
Frequently Asked Questions (FAQ)
When will the funds be credited?
The funds are usually credited to trading accounts fast, but sometimes it can take from 2 to 5 business days (depending on your payment provider.)If the money has not been credited to your account right after you make a deposit, please wait for 1 hour. If after 1 hour there is still no money, please wait and check again.
I Transferred Funds, but They Weren’t Credited to My Account
Make sure the transaction from your side has been completed.If the funds transfer was successful from your side, but the amount was not credited yet to your account, please contact our support team by chat, email, or hotline. You will find all contact information in the "Help" menu.
Sometimes there are some issues with the payment systems. In situations like this, funds are either returned to the payment method or credited to the account with a delay.
Do you charge a brokerage account fee?
If a customer has not made trades in live account or/and has not deposited/withdrawn funds, a $10 (ten US dollars or its equivalent in the account currency) fee will be monthly charged to their accounts. This rule is enshrined in non-trading regulations and KYC/AML Policy.If there are not enough funds in the user account, the amount of the inactivity fee equates to the account balance. No fee will be charged to a zero-balance account. If there is no money in the account, no debt is to be paid to the company.
No service fee is charged to the accont provided that the user makes one trading or non-trading transaction (funds deposit/withdrawal) in their live account within 180 days.
The history of inactivity fees is available in the “Transactions” section of the user account.
Do you charge a fee for making a deposit/withdrawing funds?
No, the company covers the costs of such commissions.How can I get a bonus?
To receive a bonus, you need a promo code. You enter it when funding your account. There are several ways to get a promo code:– It may be available on the platform (check the Deposit tab).
– It may be received as a reward for your progress on Traders Way.
– Also, some promo codes may be available in the brokers official social media groups/communities.
Bonuses: Terms of Use
All the profit a trader makes belongs to him/her. It can be withdrawn any moment and without any further conditions. But note that you cannot withdraw bonus funds themselves: if you submit a withdrawal request, your bonuses are burned.The bonus funds in your account sum up if you apply a bonus promo code when depositing additional money.
Example: In his account, a trader has $100 (their own funds) + $30 (bonus funds). If s/he adds $100 to this account and applies a bonus promo code (+ 30% to the deposit amount), the account balance will be: $200 (own money) + $60 (bonus) = $260.
Promo codes and bonuses can have unique terms conditions of use (validity period, bonus amount).
Please note that you cannot use the bonus money to pay for the Market features.
What happens to my bonuses if I cancel a funds withdrawal?
After making a withdrawal request, you may continue trading using your total balance until the requested amount is debited from your account.While your request is being processed, you may cancel it by clicking the Cancel Request button in the Withdrawal area. If you cancel it, both your funds and bonuses will remain in place and available for use.
If the requested funds and bonuses are already debited from your account, you may still cancel your withdrawal request and recover your bonuses. In this case, contact Customer Support and ask them for assistance.
How to Withdraw Money from Olymp Trade Nigeria
The Olymp Trade platform strives to meet the highest quality standards of carrying out financial transactions. What is more, we keep them simple and transparent.The funds withdrawal rate has increased tenfold since the company was founded. Today, more than 90% of requests are processed during one trading day.
However, traders often have questions about the funds withdrawal process: which payment systems are available in their region or how they can speed up the withdrawal.
For this article, we collected the most frequently asked questions.
What Payment Methods Can I Withdraw Funds To?
You can only withdraw funds to your payment method.If you have made a deposit using 2 payment methods, a withdrawal to each of them should be proportional to the payment amounts.
Do I Need to Provide Documents to Withdraw Funds?
There’s no need to provide anything in advance, you will only have to upload documents upon request. This procedure provides additional security for the funds in your deposit.If your account needs to be verified, you will receive an instruction on how to do it by email.
How do I Withdraw Money from Olymp Trade
Withdrawal using Mobile Device
Go to your platform user account and select "More".
Select "Withdraw".
It will lead you to a special section on the Olymp Trade website.
In the “Available for withdrawal” block you will find the information about how much you can withdraw.
Select the amount. The minimum withdrawal amount is $10/€10/R$50, but it may vary for different payment systems. Click “Send a Request”.
Wait a few seconds, you will see your request.
Check your payment in Transactions.
Withdrawal using Desktop
Go to your platform user account and click the "Payments" button.
Select “Withdraw”.
It will lead you to a special section on the Olymp Trade website.
In the “Available for withdrawal” block you will find the information about how much you can withdraw.
Select the amount. The minimum withdrawal amount is $10/€10/R$50, but it may vary for different payment systems. Click “Send a Request”.
Wait a few seconds, you will see your payment.
Frequently Asked Questions (FAQ)
What Should I Do If the Bank Rejects My Withdrawal Request?
Don’t worry, we can see that your request has been rejected. Unfortunately, the bank doesn’t provide the reason for the rejection. We will send you an email describing what to do in this case.
Why Do I Receive the Requested Amount in Parts?
This situation may arise because of the payment systems’ operational features.You have requested a withdrawal, and you only got part of the requested amount transferred to your card or e-wallet. The withdrawal request status is still “In process”.
Don’t worry. Some banks and payment systems have restrictions on the maximum payout, so a larger amount can be credited to the account in smaller parts.
You will receive the requested amount in full, but the funds will be transferred in a few steps.
Please note: you can only make a new withdrawal request after the previous one has been processed. One cannot make several withdrawal requests at once.
How Long Do You Process Withdrawal Requests
We are doing our best to process all our clients requests as fast as possible. However, it may take from 2 to 5 business days to withdraw the funds. The duration of the request processing depends on the payment method you use.
Why Do You Credit a Deposit Straight off but Take Time to Process a Withdrawal?
When you top up, we process the request and credit the funds to your account straight off.Your withdrawal request is processed by the platform and your bank or payment system. It takes more time to complete the request due to an increase of counterparties in the chain. Besides, each payment system has own withdrawal processing period.
On average, funds are credited to a bank card within 2 business days. However, it may take some banks up to 30 days to transfer the funds.
E-wallet holders receive the money once the request is processed by the platform.
Don’t worry if you see the status saying “Payout has been successfully made” in your account but you haven’t received your funds.
It means that we have sent the funds and the withdrawal request is now processed by your bank or payment system. The speed of this process is out of our control.
How do I Withdraw Funds to 2 Payment Methods
If you topped up with two payment methods, the amount of the deposit you want to withdraw should be proportionally distributed and sent out to these sources.For example, a trader has deposited $40 in their account with a bank card. Later, the trader made a deposit of $100 using the Neteller e-wallet. After that, he or she increased the account balance to $300. This is how the deposited $140 can be withdrawn: $40 should be sent to the bank card $100 should be sent to the Neteller e-wallet Please note that this rule applies only to the amount of funds one has deposited. The profits can be withdrawn to any payment method without restrictions.
Please note that this rule applies only to the amount of funds one has deposited. The profits can be withdrawn to any payment method without restrictions.
We have introduced this rule because as a financial institution, we must comply with international legal regulations. According to these regulations, a withdrawal amount to 2 and more payment methods should be proportional to the deposit amounts made with these methods.
