The UK Financial Market Authority (FCA) has issued an investor warning against the broker scam OlympTrade a/k/a OlympTrader. Saledo Global LLC, registered in St. Vincent & The Grenadines, allegedly operates the scam with partners VISEPOINT LIMITED in Malta, WALLFORT LIMITED and Martique Limited in Cyprus. These European companies are the operating entities of the scheme. The offshore broker addresses clients in India and the MENA region. Currently, no registrations for residents from Europe and North America are possible.
Key Data
| Trading name | Olymp Trade |
| Activity | Forex, CFD, crypto broker |
| Domain | https://olymptrade.com |
| Social media | Facebook, YouTube |
| Legal entities | Saledo Global LLC, SVG Visepoint Limited, Malta Martique Limited, Cyprus |
| Jurisdiction | St. Vincent & The Grenadines Cyprus, Malta |
| Authorization | No |
| Warnings | FCA |
Short Narrative
OlympTrade is a member of The Financial Commission, a so-called External Dispute Resolution organization. This is not a regulator and the membership therefore does not entitle OlympTrade to offer regulated financial services.
The latest Similarweb statistics from September 2022 show that OlympTrade is very successful, especially in India and the MENA region. In total, around 9.3 million people visited the website in September, almost 20% of which came from India and almost 17% from Egypt.
The OlympTrade broker scheme is apparently very active on Facebook and YouTube. The Facebook page has collected likes from about 1.3 million users; the YouTube channel has almost 300k subscribers.
Share Information
We recommend staying away from this unregulated offshore broker scheme. If you have any information about the scam operators or supporting partners, we would be happy if you share it with us.
