[Resolved] Olymp Trade — Early trade close not working on FTT

[Resolved] Olymp Trade — Early trade close not working on FTT

P Parveen Bakshi from Bengaluru, Karnataka Aug 23, 2023 Aug 24, 2023 This thread was updated on Aug 24, 2023

I did my homework and thoroughly studied Olymp Trade’s trading conditions and rules regarding FTT. Don’t need to mention that fixed time trading was something new to me, and that’ exactly why I spend time to make sure I understand what I am doing. However, Olymp Trade said that it’s possible to close trade early. I had such case, my profit on this particular trade was quite big, and wanted to close the trade. But guess what, It was not possible… eventually the closing time came and the trade closed by itself, but with less profit then it had when I was trying to sell. Was this information helpful? No (0) Yes (0)
Aug 25, 2023 Complaint marked as Resolved It was totally my mistake… I even brag that I did my homework of carefully studying the rules about FTT 😀 Let me just briefly explain to othesr what happen, so they could avoid making the same mistake: I place my trade with 6h limit, and at the time I was trying to close it had around 50 min left till the deadline. After reading again the guide on FTT, it was clearly written that: “An early sale can be carried out only if there is more than ⅙ of the set time left until the trade closes.” Well, in my case, with 50 min left out of 6h, it was surely less than 1/6. Sorry about the false alarm 🥺 Olymp Trade customer support has been notified about the posted complaint.
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Olymp Trade Customer Care

Aug 24, 2023

Verified Support

Hello, Parveen Bakshi.

Thank you for sending this question to us. We are glad that you have reached out for support. A trade opened in the Fixed Time mode can be closed before the selected time using the early sale function. If you want to use it and close the current trade, just click "Sell Now" in the list of trades.

You can also sell an open trade right on the asset chart by clicking the icon indicating the open trade.

The Sell button shows the amount of money you will receive. It is often less than the investment amount. It means that you will lose a part of the funds if you sell the trade.
It is also possible to sell a profitable trade early, but the trade must be deep in the profitable zone. The farther from the strike price, the greater the amount of return on an early sale.

Please pay attention that an early sale can be carried out only if there is more than ⅙ of the set time left until the trade closes.

Best regards, Olymp Trade team.

Olymp Trade Customer Care's response, Aug 30, 2023

Verified Support

Greetings, Parveen Bakshi.

We are so happy that we have been useful to you. We understand that sometimes there would be some confusion around trading. But we are glad that you have reached out to us. We are here to answer any question that occurs to you along your trading journey.

Please let us know if you have any further questions.
Best regards, Olymp Trade team.