Olymp trade scam alert, run for your life

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Olymp trade is a trading platform for online trading and investment where one can trade on company’s stocks such as Apple Inc, Amazon, Google, Tesla, Starbucks, Facebook, Boeing, Microsoft, IBM, Visa, Coca-Cola, BMW, currency pairs and crytpo assets. From a deep research I discovered the platform is managed by two different companies called Smartex International Ltd based in Nicosia, Cyprus and the other in Mahe, Seychelles. Uhmm there’s nothing to be worried about regarding those two companies, the real danger is how the Olymp trade platform is managed, are they truly honest and transparent? Are they legitimate or scam? Now let’s delve in further to review some mind blowing secrets.

HERE COMES THE SCAM

Recently Olymp trade is doing vigorous adverts with Facebook and Google, on an average I come across 5 adverts of Olymp trade  a day whilst surfing the web or scrolling through my facebook feed, at some points I thought they were monitoring my moves or at worst pestering my life, but then I realized how robust the Google algorithm could be, so it’s generate adverts based on my browser’s history and frequent search terms. Sorry I never meant to keep telling you stories so let’s head straight to the business of the day.

While browsing the web I came across an article about a pizza delivery boy in South Africa that made millions of $Dollars within a year of trading online, before stumbling on that article I was 85% drowsy and my bed was calling on me because I can’t cheat on nature and hey! No one ever did. But then the post’s title spark a new light in me that I was unable to go to bed, I read through the lengthy article which was well furnished with pictures of luxurious houses and cars and alongside picture of a young dude, so in the entire article someone explained how the guy saw some two other guys trading while he went to deliver pizza to them, so he crammed the name of the site on screen so he checked it when he got home.

The article further explained how the young dude created account with Olymp trade and used the default demo account with $10,000 to do some practice and derived a suitable method to trade and make money which is “UP’’ “DOWN” strategy, so basically  all you have to do using this almighty winning formula is start your trade with $1 trading EUR/USD as it is more stable and predictable than any other pairs. So you set your trade time to one minute and choose whichever direction in your first trade regardless of what direction the market pair is facing. It doesn’t matter if you lose or not, but if it happens that you lose your first trade then you use another bigger figure that will recoup your lose and make you some little profit. So let’s try some calculations and see how it works.

Assuming you initiated your first trade with $1 and the duration is set to 1 minute and you lose it then the next figure to use is $3, the winning percentage ranges from 79-82% so if you lose $1 and try $3 and luckily you win so you will have $3 x 82% =$3 x 0.82 =$2.46, so you gain is $2.46, adding that to the initial $3 you used for the trade you have $3 + $2.46 =$5.46 but at this point you’ve used $1 + $3 from your initial capital and that totaled up to $4, subtracting that from the $5.46 you will be left with $5.46-$4 =$1.46.

Let’s assume you lose that of the $3 trade so the next figure is $7, assuming you’re lucky and you win that then the total amount you have will be $12.74, but you would have used $1 + $3 + $7 =$11, subtracting the amount you’ve used from the total amount you made after the $7 trade was won you have $12.74 – $11 =$1.74. N:B if you win your first trade of $1 then the second trade will be $1 again, at whichever point you win, you return to the initial first trade of $1. With this method they claimed the young lad made millions of USD from Olymp trade, now THAT IS A LIE FROM THE PIT OF HELL.

The method can only work if you have over $5,000 capital, else you stand the chance to lose your hard earned money in a bid to make fast and quick money. The alarming thing about this Olymp trade is that, I’ve read over 5 articles of different people who made millions with this almighty formula method, my question is why is it the same method, why is it the same rags to riches story? I’ve never seen videos of these individual attesting to the claim that they actually made that amount from Olymp trade using the said strategy, no facebook profile of them to contact them to know if the story is real or not, so after giving it a trial and failed woefully I realized I was fooled and the story has no element of truth in it, total falsehood and fallacy. So Olymp trade orchestrated such article and promote it using different medium so the people who are desperate to make money online legitimately can lose the  their hard earned money.

I’m not disputing the fact that people can earn on Olymp trade but deploying the almighty formula will only increase your chance of losing your money, so I will advice you don’t make use of it so as not to learn the hard way like I did.

Make your opinion known in the comment box, we will love to hear from you…CHEERS!!!

2 COMMENTS

  1. My advice to Everyone that is losing money or has lost money to phony investment scams including Forex, dating scams and fake ICOs.
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