There is a huge number of brokers that you can find in today’s market. With the popularity of the trading market, new brokers keep on popping up to accommodate the needs of traders, but this doesn’t mean that they are fully capable of doing so. It is true that some do an excellent job, but there are also those that fail to provide the essential features and tools that a trader needs for trading successfully. Likewise, some brokers are focused on experienced traders because they are a steady source of income while others cater to newbies because there is a huge potential.
There are also brokers that cater to the needs of different kinds of traders, which means they offer a comprehensive platform to accommodate your growing needs. Coin2fx is one such option. This broker has quickly become one of the top choices of traders because, as mentioned above, it serves as a comprehensive solution for the needs of both inexperienced and expert traders.
First and foremost, Coin2fx, like many other brokers in the market, provides you with the option of CFD i.e. Contract for Difference Trading. This kind of trading means that rather than trading the asset directly, you trade a contract for it. It is considered a beneficial form of trading because it provides a lot of excitement minus the risks. How do you trade CFDs? In order to help you do so, Coin2fx has incorporated a trading platform that’s easy to use and allows you to execute your trades without any problems.
One of the most noticeable things about the trading platform is that it is equipped with useful trading tools that can be immensely helpful for traders when making trading decisions. They can be useful in minimizing losses and maximizing profits. Coin2fx has integrated a powerful set of tools, which has allowed it to offer a complete trading experience to every trader, no matter what their background.
It is a given that no trader would ever choose a broker unless they are aware of the kind of trading conditions that would be made available. No one should make the mistake of signing up and depositing funds until they are aware of what to expect in terms of trading conditions. What exactly should you know? You need to find out what kind of leverage and spreads are being offered by the broker before you decide to use their services for your trades. Moreover, you also need to be aware of the assets that are available for trading in order to ensure they are in accordance with your risk tolerance and can help you build your portfolio.
First things first, consider the asset index of the broker. There are some brokers that specialize in a particular asset, such as forex or the stock market. But, it can be a problem for traders when they want to expand because it means signing up with a new broker all over again. This is not a problem you have to deal with when you opt for Coin2fx. Since they offer CFD trading, they have given their clients the option of trading a variety of assets that can be helpful in diversifying their portfolio. When you choose this broker, you can trade forex currencies, stocks, commodities and indices.
Under each category, you will find plenty of choices, which allows you to dip your toes in almost every financial market of the world. However, the most impressive aspect of Coin2fx is that they have added cryptocurrencies to their asset index. This is one of the hottest instrument because it is an emerging market and everyone wants to take advantage of this growing trend. When you sign up with Coin2fx, you can trade some of the top cryptocurrencies in the market and reap the rewards.
Other than an extensive asset index, Coin2fx also offers you significant leverage while trading. Some people believe that leverage is better suited for experienced traders because it comes with its own risk. Coin2fx has offered it to all traders, but the level of leverage made available varies. These changing levels of leverage are reflected in the different account types offered by the broker and it also changes according to the asset you have chosen to trade. This is certainly a plus because it means you get higher leverage for less volatile assets as there is reduced risk.
Moving on, the spreads are also important to check because they can have an impact on how much profit you get to take home. Put simply, spreads refers to the difference in value in the buying and selling price of an asset. The selling price of an asset is always less than what you pay to purchase it. This is the spread and lots of brokers opt to use these spreads for making profits instead of charging commission. Coin2fx has also chosen to use spreads for their profits and they are some of the most competitive in the industry.
How do you make your trades when you sign up with a broker? You use the trading platform provided. This is a software tool that provides you the services and features needed for executing trades in the financial markets. The interface and intuitiveness of the platform determines the kind of experience you have during trading. It should also be noted that the trading platform is not just for making transactions; it also boasts the tools needed for making well-informed decisions, such as economic calendar, the latest trading tools, charts and graphs and plenty more.
Knowing the importance of a trading platform, Coin2fx has made a lot of effort in developing an appropriate one for its customers. You will find it to be a perfect fit, not only because it allows you to trade seamlessly, but also because it is equipped with the most innovative tools and features that can make trading a smooth experience. You can get an idea of the trading platform by first opting to open a demo account offered by Coin2fx. This is sort of a practice account that enables you to test the features of the broker and making trades without actually risking your money.
It provides you with an insight into what the trading market is like and how you will navigate the trading platform for making your trades. You can use it to see if the trading platform offered by Coin2fx is suitable for you or not. The broker has offered a web-based platform that can be used through the browser, a mobile application for your convenience and a solution for every device to make it easy for you to trade, regardless of where you are.
The sign up procedure typically requires you to provide some personal information in order to open an account with the broker. You will also need to enter some financial information for depositing your money, but before you do that, there is something else. It is the norm for brokers to offer multiple account options with each account type catering to traders of different backgrounds. The same is applicable in the case of Coin2fx. As mentioned earlier, this broker aims to target different kinds of trader and so it also offers several account options to choose from.
The basic account types are designed for traders who have just stepped into the market or don’t have a lot of experience under their belt. There are also advanced account options that are meant for traders who have been part of the industry for a while and have managed to accumulate some solid experience during this time. The features and services available in these account types are according to the needs of the traders. For instance, those who sign up for the basic account option will only get access to simple trading knowledge to help you get a better understanding and mastering the basics.
Apart from that, the spreads, leverages and commissions offered in each account type are also different. One great thing about Coin2fx is that they have not favored experienced brokers by offering them better leverages and spreads while not doing the same for beginners. Instead, no matter what account type, the broker has ensured that its offerings are quite competitive. In addition, the minimum deposit requirement of every account type is also different, again to accommodate all kinds of traders. For instance, those who are new to trading may not have a lot of money for trading and so their initial deposit requirements have been kept low.
In the same way, the deposit requirement for the advanced account types are a bit high because experienced traders can afford to invest more.
Security and Transparency
Transparency and security has become a major concern nowadays among traders. This is due to the fact that numerous brokerage scams have been reported and many people have lost their hard earned money in this way. Similarly, hacking attacks have also wiped out records and finances of many traders and you wish to avoid these issues. Therefore, every trader wants to choose a broker who implements the highest security standard for keeping all information and finances safe. They also prefer one who is transparent about all their policies and dealings and doesn’t spring up anything on you later on.
Coin2fx is fully aware of this element and they wish to provide their clients with the best services so they can trade with complete peace of mind. One of the first assurances the broker gives to its customers is the fact that it is a fully regulated and licensed entity, which is subjected to strict rules and monitoring. This is undoubtedly a relief because only legitimate brokers will opt for regulation and scrutiny. They have also implemented several policies for ensuring complete transparency. This includes Know your Customer (KYC) and AML (Anti-Money Laundering) policies. This ensures that only legit individuals and businesses are using Coin2fx services and their platform is not being used for money laundering or any other illegal entities.
As far as security is concerned, Coin2fx encrypts every byte of data that you share with the broker so you can rest assured that no third party can gain access to your information. They also implement strict measures to monitor funds in order to prevent misappropriation.
Training and Education
When you start out as a trader, the presence of trading and education can determine the level of success you achieve. The problem is that there are too many sources on the internet and it can be difficult to figure out where you can find authentic and accurate information. Coin2fx is immensely helpful in this regard because the broker provides its clients with access to educational material in the form of videos, tutorials and e-books. These are a great source of information that don’t just help you in understanding the basic concepts, but also teach you about advanced strategies and tactics.
The broker has also provided access to webinars, which are conducted by market experts and they are quite interactive. Coin2fx allows you to ask questions after the webinars are done and this can be an excellent source of learning for both new and experienced traders.
Last, but certainly not the least, another important aspect of a broker is the customer care they offer. You certainly don’t want to wait around when you need help and Coin2fx has ensured that you don’t have to wait because it has introduced several channels for getting in touch with them. You can get in touch with their customer care team via email or a web-based contact form. A phone number is also provided for any urgent queries. You can also go with the live chat option if that’s more convenient.
Suffice it to say, Coin2fx has covered every aspect of their brokerage and platform rather well in order to ensure that all kinds of investors and traders, no matter what their experience or stage, can use its services for establishing their trading career.