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Can Olymp trade be used in India?

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Can Olymp trade be used in India?

According to various sources, Olymp Trade is not technically illegal in India but it is in no way monitored or controlled by SEBI or RBI. This means if a trader faces any issues with regards to the app’s transactions or collections then Indian authorities will not be able to help.

Can I become rich by Olymp trade?

The Olymp Trade system allows you to earn up to 90 percent profit with minimum investment. The minimum trade requirement is $1, which could help you earn up to 80 percent profit from your investment on a regular account, and up to 90 percent on a VIP account.

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Do we need to pay tax for Olymp trade?

Under income tax it is a business income. You should disclose it in ITR. As you have mentioned net salary income is 2.80 lacs p.a., total income would be less than 5 lacs hence no tax.

Is Olymp Trade legal in India 2021?

Yes. The trading platform is also a member of the Financial Commission, a regulatory institution in charge of regulating various online trading platforms to ensure that they function in complete accordance with the Indian laws. …

Which Trade app is best in India?

Zerodha Kite
Top Trading App in India with their Ratings

Rank Trading Platform Performance Ratings
1 Zerodha Kite 9.8/10
2 Upstox Pro App 9.4/10
3 Angel Broking Mobile App 9.0/10
4 5Paisa Mobile App 8.9/10

Which trading app is best in India?

List Of The Best Trading App In India

  • Zerodha Kite.
  • Angel Broking.
  • Upstox Pro App.
  • Groww app.
  • 5paisa online trading app.
  • Sharekhan App.
  • Motilal Oswal MO Investor App.
  • Edelweiss Online Trading App.
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Who made Olymp trade?

The “Olymp Trade” brand belongs to Saledo Global LLC, which is registered in St. Vincent and the Grenadines. The company has 20 mln. customers worldwide and seeks to make Forex trading transparent and affordable to everyone.

Is Olymp trade a gambling site?

The Olymp Trade broker is a reliable and certified company. A trading strategy is a set of rules and techniques for analyzing the asset price of an asset and making trades. Trading is not gambling!

Is Olymp trade really good?

Olymp Trade is one of the best options available. If you’re looking for a binary broker that has a variety of educational resources available to their clients, then Olymp Trade is one of the best options available.

How can I learn day trading in India?

Plus, one of the best ways to learn is from those with real day trading experience in India. You’ll also benefit from day trading recommendations on stock picks, plus creative strategy ideas. Alternatively, you can find books with day trading tips in Hindi.

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How many day traders are there in India?

Despite a population of over 1.2 billion, there exists only 20 million active trading accounts in India. Fortunately, as famous traders such as Sudarshan Sukhani and Rakesh Jhunjhunwala continue to make millions of Rupees each year, day trading in India is on the rise.

How much money do I need to start day trading?

Novices can start with smaller amounts, depending upon their selected trading plan, the frequency of trading, and other costs they bear. To actively day trade it is required that you maintain a balance of $10,000 in your trading account.

How much profit do professional day traders make in a month?

A professional trader makes profit between 40\% – 100\% pa ( may be more ) in general market condition, in sideway or flat market professional traders does not trade. If you have good trading strategies and trading psychology than you can make 3\% to 7\% every month. 80 – 90 percent of retail day traders lose money.