Question 1

Is Olympic Markets Limited regulated?

FXScope Intelligence Lab · Accepted Answer

No, Olympic Markets Limited is an unregulated forex broker. This means your funds are not protected by any financial regulatory oversight. Unregulated entities can potentially abscond with your money without being held accountable, creating significant risks for traders who deposit funds.

Question 2

Is this broker beginner-friendly?

FXScope Intelligence Lab · Accepted Answer

No, Olympic Markets Limited is not beginner-friendly. In fact, this broker displays multiple red flags typical of scam operations, including unverified automated trading software, unrealistic promises of doubling deposits within 24 hours, and the use of manipulative tactics to extract additional funds from victims. The lack of regulation makes it particularly dangerous for new traders who may not recognize these warning signs.

Question 3

What are the main red flags with Olympic Markets Limited?

FXScope Intelligence Lab · Accepted Answer

The main red flags include: being completely unregulated, promoting suspicious automated trading software from affiliated sites, using deceptive tactics to convince traders to make initial deposits with promises of unrealistic profits (like doubling deposits in 24 hours), and employing experienced scammers to extract additional funds after initial deposits. These are all classic indicators of fraudulent operations.

Question 4

What should I do if I was scammed by Olympic Markets Limited?

FXScope Intelligence Lab · Accepted Answer

If you have been scammed by Olympic Markets Limited, take these steps: 1) Maintain communication with the scammers for evidence collection, 2) Immediately submit a written withdrawal request, 3) Initiate a chargeback if you paid by credit/debit card, 4) For wire transfers, warn the scammers about reporting to authorities and compose detailed letters to forex regulatory agencies in your country, 5) Post reviews on alternative platforms to warn other potential victims. These actions can help recover funds and prevent further scams.

Question 5

Does Olympic Markets Limited offer automated trading software?

FXScope Intelligence Lab · Accepted Answer

Yes, Olympic Markets Limited promotes automated trading software from another affiliated site. However, this is considered a major red flag as such websites are notorious for engaging in fraudulent schemes. The automated trading software claims are often used as part of their deceptive marketing tactics to lure unsuspecting traders.

Olympic Markets

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