If you are just starting with trading, you might not know much about brokers and how you can pick the best ones. Not to mention, you have so many choices today that picking one seems like a big task. However, things can be trickier for traders who do not know which factors to look at to choose a broker. They know nothing about online brokers and thus end up with wrong ones. What does it mean by ending up with a wrong broker? Well, you will see your money going away but no profits coming into your account.
So, you have to be sure 100% that the broker you are about to start your trading account with is honest with you and will provide you with every opportunity to make money. In addition to that, the broker must not be the barrier between you and the money you make on your trades. If you are looking for such a broker, you might want to give Pibexa a shot. This broker will meet all your requirements and provide you with a trading platform that’s not had to learn. Let’s evaluate the performance of this broker for its traders in terms of seven extremely important factors.
Pibexa – Evaluating the Broker on 7 Crucial Factors
1. The Customer Support Factor
Usually, you have online experts talking about this particular factor at the end of their reviews. Believe it or not, it should be the first factor you consider before you finalize a broker. You cannot expect anything good from your trading journey if you cannot even get in touch with your broker at the time of an issue. It is surprising that many online brokers have started to use FAQs as a way to help their customers. Yes, that’s a great way to help customers, but it should never be the only way. They make their FAQs huge so they can cover all the topics that a trader might have questions about. However, that’s a very flawed strategy.
They can only think of so many possibilities. A customer can always run into a problem that the company might not have heard of before. At the end of the day, it should be the responsibility of every online broker to provide traders with at least one email address where they can send in their concerns and questions. In addition to that, the broker should also work on having a phone line dedicated to listening to its customers. There is nothing faster than a phone call when the trader is facing an issue. So, if you see that the broker you have signed up with does not have these points of contacts, you can reconsider your decision.
When you sign up with Pibexa, however, you will be glad to know that the broker has provided you with a phone number and an email address to contact it. This contact information is available on every page of the website of the broker. Last but not least, the customer support from Pibexa is available to help you 24/7, which is something you rarely ever find online brokers offering. Based on this particular factor, you have to give 10 out of 10 points to Pibexa.
2. The Platform Factor
Can you trade profitably if you do not have access to a great trading platform? Well, you might but the overall experience is going to suck. If you want to trade smoothly and with confidence, you have to be on the right trading platform. You will notice that online brokers have different types of trading platforms that they give their traders access to. Some traders have their trading platforms available differently for every device. If you want to trade on your computer, you are asked to download the software on your desktop.
If you move to your mobile device next, you will again have to download the software on your mobile device to use it. While is sounds great that the broker has made its trading platform available on multiple devices, the experience of trading will be affected. Despite being trading platforms from the same broker, they will not look the same. In other words, you might have to spend some time learning the software when you switch from your desktop computer to your smartphone.
On the other hand, you have Pibexa providing you with a web-based trading platform. You can use this platform anywhere you want in the world without ever downloading. In addition to that, it will work on all devices. Whether you have a Windows computer or a MAC, you will be able to use it with ease. In addition to that, you can use the trading platform without a problem on your smartphones and desktops. However, just for your convenience, if you are not okay with a web-based trading platform, the broker has created the mobile versions as well. You can download the application on your iPhone or Android phone and use it without a worry.
3. The Training Factor
So, you have to learn how to trade before you can be a part of any financial market. Even though it is true that forex trading is quite straightforward, you do need some training before you can do it successfully. Keep in mind that the markets are always moving up and down. Some new traders believe that they are supposed to trade only when the market seems in good condition. They are wrong in this observation. You can make a lot of money even if the market is experiencing a down swing. There are many strategies that have been specifically designed to help you make money during declining markets.
How can you learn about those techniques and strategies? Well, you have many online resources you can use for that. In fact, there are some courses that award you with a certification upon completion. However, no one is in a better position than your broker to offer you training on trading forex currency pairs. Pibexa has a lot of training material that will teach you all about trading currency pairs and making money from them even when the market does not seem in a great shape. You can learn through eBooks or videos to be sure that you make money on your trades right from the beginning.
4. The New Trader Friendly Factor
Does the broker do anything to make things easier for new traders? One must not forget that a huge market of traders consists of people who are doing it for the first time. These traders are looking for trading opportunities from all around the world. In many countries, they do not have a lot of money, especially when you convert their savings in to dollars. Sometimes, brokers do not realize this factor and make it difficult for new traders to sign up with their trading accounts. How can you think about signing up with a broker when you have to convert hundreds of thousands of your currency’s units into dollars to give as an initial deposit for opening your account?
That’s the issue many traders face when they sign up with an online broker. They do not have enough money to make the initial deposit in their accounts. That’s where brokers like Pibexa step in. They make life easy for new traders by giving them easy opportunities of trading. When you look at Pibexa’s website, you will notice that there are four different account types. The names of these accounts are sivler, gold, platinum, and diamond. These accounts are designed for different types of traders. If you want to start small and work your way up from there, you should go with the silver account.
You can start this account by making a small deposit of just $250. You will then get access to all the currency pairs and every amazing feature that Pibexa has to offer. Even with the gold account, you can start trading in the financial market by making a deposit of just $1000.
5. The Transparency Factor
Your broker should be transparent about its financial activities so you can trust it. In addition to that, you have to be sure that you will not meet some surprises after you have signed up with the broker. For example, many online brokers tell you that you have to pay in the form of spreads when you enter trades. So, the difference between the buying and selling price allows your trades to make money. On the other hand, this same differences gets deducted from your profit. But that’s the standard procedure for online brokers to make money.
The surprise comes when you find out about hidden charges as well. Yes, the broker charges you commissions on your trades as well. In addition to that, you have to pay a fee every time you make a withdrawal from your account. That just does not leave any sweet taste in your mouth. When you sign up with Pibexa, you will not be hit with any hidden charges. And if you sign up with platinum or diamond account, you will not even have to worry about any charges on your withdrawals either.
6. The Safety Factor
Is your broker doing anything to make its trading platform secure for you? If not, you should walk away from this broker as soon as you can. There are many ways for you to know that the broker you are signing up with cares about your security. First, you should verify the presence of KYC and anti-money laundering policy. In the case of Pibexa, you have both these policies in place to prevent illegal entities from using the trading platform. Furthermore, you should make sure that your information will be encrypted when you provide it to the broker on its website.
Again, Pibexa makes sure that every piece of information you enter on the website is encrypted. Through encryption, your information becomes safe even when someone tries to get access to it through some illegal means. The information gets turned into such format that it does not make any sense even when you look at it. Lastly, you should call your broker and ask how your money will be maintained. If your broker cares about the industry standards and your money, it will tell you that your money goes to segregated accounts.
You do not have to worry about any of the abovementioned factors. When you sign up with Pibexa, you can rest assured that all of it has already been taken care of. Most of the information about your security is available on the website of the broker.
7. The Banking Factor
At the end, you have to discuss the banking experience with the broker. When you open an account with an online broker, the experience is very similar to opening an account with your bank. Some banks have commissions that you have to pay on every transaction. However, you have already read above that Pibexa completely waives off the fees on your withdrawals if you sign up with select account types. Now, you will also be happy to know that the broker has provided you with many ways to deposit funds in your account. You can always use the method that sounds the easiest and safest.
You can transfer money in your account through your bank account. You can also use your MasterCard and Visa credits cards to fund your account. To make banking even easier, the broker has also provided you with Skrill, which is a great option to transfer money through the internet.
If you have read the entire review, you must have a great idea about the broker at this point. When you look at these factors one by one, you have to agree that Pibexa has worked on making its platform viable for traders from around the world. It is a great trading platform with lots of modern features. Furthermore, the broker has made entry into the trading world for new traders a breeze with the requirement of a very small first deposit.