| Name of Complainant | |
| Date of Complaint | May 5, 2025 |
| Name(s) of companies complained against | Olymp trade |
| Category of complaint | Investments |
| Permanent link of complaint | Right click to copy link |
| Share your complaint on social media for wider reach | |
      |
|
My trader id is 96457488 and I deposit 30000 ruppee on 29 march, 2025,
I confirmed into bank and online customer care, that amount has successfully transferred. But olymp said that this amount not received by him. They are scamming to people, i tried to contact customer support, but every time bank statement and task created, and then no solution.
Olymptrade is a Fraud. I got defrauded by olymptrade. I request you to reach out to your bank for the Chargeback request for fraud. Before doing that please make sure you don’t have any funds in the account as it will block your account as soon as your bank takes up the chargeback request with olymtrade for the illegally operating in your country and defrauding people. Olymptrade is blacklisted in all countries and is illegally operating in countries. It is blacklisted by RBI and SEBI in india for its fraudulent activities. It is not regulated by any govt. Regulatory board anywhere in the world. It is operating from an offshore country with less or no regulatory oversight. Olymptrade deceives by saying that it is regulated by financial Commission, the fact is this Fin Commission is a self Regulatory authority and is not legally binding authority. It has no legal enforcement power. If a broker refuses to follow FinCom’s recommendation, it cannot force them legally. You can easily win chargeback against olymptrade if handled with little research. Remember, to operate legally in a country, it needs necessary regulatory license to operate. Olymtrade has no regulatory lisence of any country in the world. Chances of winning chargeback for all the deposits to olymptrade are very high if you present your case with little research to your bank about the olymptrade fraud. Do not forget to request the bank to flag the merchant as fraud in their system and block transactions to it in order to help others being defrauded.
Below is the RBI link of blacklisted merchants, olymptrade s.no 28:
https://m.rbi.org.in//scripts/bs_viewcontent.aspx?Id=4235
https://www.sebi.gov.in/media-and-notifications/press-releases/nov-2024/advisory-on-unauthorized-virtual-trading-gaming-platforms_88200.html?utm_source=chatgpt.com