Many young people aspire to become traders today because of the glamour and lure of great riches promised by the job. Of course, this is an illusory impression caused by a lack of proper education about trading. Traders need to be educated about risk management, money management, as well as various other factors that can lead to huge losses in the stock market. In addition to these aspects, they must also get training on how to use an online brokerage account as it is not just any ordinary bank account that you can open up; there are rules and regulations in place that deal with how much one can invest every month if he or she wants to avoid certain legal complications.
A broker’s account is basically a trading platform for both buyers and sellers of stocks and securities. An online brokerage account is an electronic trading platform where you can purchase either new or used securities at the current market price using your money, cash on hand, a credit card, or even other sources of funding provided by the company or institution that you are dealing with. It’s like when you buy something from Amazon because they charge your credit card for the item’s value once it is shipped to your house; this is similar to how an online broker works except, in this case, investors are buying shares of existing companies instead of purchasing products.
One of the biggest advantages associated with an online trading account is that almost anybody can open one using his or her bank accounts as well as any other funds in order to trade. This means that if you have just a couple of dollars in your bank accounts, then you can open up an account and start trading with them because it’s as simple as setting up such an account using your ATM card.
If this is the first time that you are opening an online brokerage account, then there are some important things that you need to know before making any transactions: Just like you check out the security of a website before entering your sensitive data, know about the broker’s security features. You can look for such information on their websites or even ask them if they have any information regarding this matter.
If you are dealing with an independent brokerage firm that is not associated with any bank or credit card company, then make sure that you will be able to access your account 24/7 via the internet regardless of where you are in the world. This is vital because people continue to trade even when travelling all around the globe and it would be disastrous if your trading stops while you’re away from home. If possible, opt for binary options trading as it lets users open up accounts very quickly compared to other types of online trading.
Check with your financial institution and see if the broker you are dealing with is licensed to offer his services in your country. Look for any complaints that have been lodged against the company before deciding whether or not to invest your money because it could potentially save you a lot of trouble later on down the road. Make sure that you view them closely so that you can know everything about what it takes to get started with such an account as well as how to avoid possible legal troubles later on.
If you wish to know more specific stuff about this broker and the good ones generally, then you have landed at the right place because I am a trader who has been trading for around 20 years now and today I am going to review my forex platform, TopMarketCap.
I am going to show you how it works and tell you about the benefits and drawbacks that come with it since there are many people who don’t know very much about such an online trading platform.
The Benefits Of Using TopMarketCap To Trade Forex
When looking at any financial services company, make sure that they are well-reputed among the traders. You should also listen to what they say because their stories, fake or real, help you streamline your research.
Let’s talk about security first. You will also want to check out security systems before deciding whether or not it is safe for you to settle with them since there are numerous ways that hackers and scammers can steal your money. I made sure that I researched a lot about the security measures at TopMarketCap because I didn’t want to end up losing my hard-earned savings. What I found out is that they offer many different types of security features from mobile phone text alerts containing important information regarding the trades you have placed, as well as advanced encryption methods and internet firewalls to protect traders’ sensitive data stored on the company’s servers.
In addition regarding their security features, traders who use TopMarketCap are confident about using such a trading platform because they know exactly where and how all of their sensitive information is stored at all times, especially when compared with other types of online brokers who don’t offer similar safety measures.
Great for Newbies
It also offers many different types of trading opportunities depending on what type of person you are when it comes to investments. If you are new to forex, then this might be your first stop because all you need is $250 or more in order to start trading with them. Their minimum deposit requirement hasn’t changed since the past few years so if you are planning on opening up an account here, then this will definitely satisfy your needs.
They provide fast transactions, which is really important especially if you’re looking at making profits from your daily trades. The sooner you get your money, the better so be sure that they have all of these features before investing.
When it comes to what I found out about the company itself, then you will be able to trade using your mobile phone or any other device since they offer 24/5 customer service support regardless of where you are located in the world. This is a major concern because many companies will only offer such support to local clients while others would just cut you off if you are located in a different part of the world.
Tools and Instruments
I have also been able to see for myself that they provide clients with trading charts and graphs that are updated in real-time so that they can get easy access to such information as it comes in, no need for them to refresh the page or do anything else related to what I just mentioned because this data is already there. They also provide a variety of tools that are intended to help traders make better decisions when investing in their platform since it is never good to just go all-in on what you don’t know.
Apart from the above features, TopMarketCap also offers useful educational resources for new traders. All the educational material is within their official websites such as ebooks and other articles where they can learn everything about this type of trading with ease no matter who they are or how much experience they have in regards to such matters.
In terms of the drawbacks, there aren’t many but still something that you should take into consideration since not everything is good about using this platform.
The Drawbacks Of Using TopMarketCap
Although I think this platform is good for everyone who is looking for a good place where they can start trading, there are still some problems that you need to look into.
One of these issues is that they don’t offer websites in many dialects. I think that they should consider adding more languages so that it will be easier for traders from all parts of the world to understand what is being said.
The Layout of the Website
I have seen that some people are upset with the layout and design of the website itself which I did find out after a few days of seeing how it worked in action. The reason why people say so is that it is not highly user-friendly for elderly clients who are not that much into technology. However, it is not a deal-breaker because the wide number of tradable assets make up for it.
Another issue is that you can’t get hold of a phone number when you want to contact them via telephone if you are an international trader. You will have to send them an email or submit a form if you want to get in touch with their customer service because this platform doesn’t offer call support as well.
In spite of the drawbacks, many will still enjoy what this broker has to offer. You can do everything from trading to tracking the market itself on your mobile phone which is a major plus for clients. They have been able to acquire a huge share of this market because they are able to provide investors with the latest services in regards to financial markets, it shouldn’t come as any surprise that investors have flocked towards these platforms.
Disclaimer: This review is written from my own experience and my self-knowledge only and this is not a recommendation.