If you have been looking into lucrative investment options, you would certainly have come across trading. These days, it appeals to a lot of people because of the lack of requirements and the freedom and flexibility associated with it. Who wouldn’t want to trade at their own convenience and actually be able to make millions with a small investment? Indeed, this is now possible because there are hundreds of instruments that can be traded by people. You don’t need to worry about competition because there are plenty of opportunities for everyone. But, you need to remember that in order to succeed, you have to ensure that you work with the right broker.
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How do you find the right broker? By asking the right questions. Looking for a broker is no different than when you search for a business to buy a product. You don’t make that decision lightly and the same should apply to a broker. After all, you will trust this broker with your personal information and your hard-earned money and you don’t want to put either at risk. In addition, you also want to succeed in the trading market because it will bring you closer to your goal of financial independence.
The number of brokerages in the market has surged since online trading became a trend. The launch of cryptocurrencies strengthened it further and there is no going back now. However, not every broker will be a good choice for you. They may not offer the products you want or they may not have good trading conditions. There are many things that can go wrong, so you need to play it safe. This can be done by asking some questions. When you come across Coinibank, a broker specializing in cryptocurrency, forex and CFD trading, you need to ask these questions and then make your decision. What should you ask? Check the questions below:
- Can you diversify with this broker?
When you are entering the trading space, you are probably aware that it comes with its fair share of risks. The good news is that these risks can be minimized and diversification is one of the top ways to accomplish this goal. Therefore, you need a broker that gives you the option to do so and Coinibank will be a good choice in this regard. They have put together more than 300 financial instruments on their platform and allow you to trade as many as you want.
Your options begin with the stock market where you buy shares of companies like Microsoft, Vodafone, Apple, Barclays and Fiat. There are indices like Dow Jones, FTSE 100, DAX and NASDAQ that you can invest in. If you want less risky options, commodities can do the job. These include precious metals like gold and silver, agricultural products like wheat, coffee and corn, and energies like oil. ETFs and bonds are also available and Coinibank has recently added cryptocurrencies like Bitcoin, Ethereum and Litecoin for their clients.
- Can you rely on their security?
The most notable security tool on Coinibank is the use of the Anti-Money Laundering (AML) and Know Your Customer (KYC) policies that verify every trader signing up. This can prevent money laundering and other financial crimes, which can give you peace of mind. You will have to provide some documentation to the broker to comply with these policies, but they are for your own security.
- Can you trade easily?
Your trading experience with a broker is largely dependent on what trading platform you will be using. Every broker will give you a different option and its user-interface and features will have an impact on your experience. Coinibank has developed its own trading platform, one that you can access via the web browser. This saves traders from the hassle of downloading, installing and then maintaining the platform. State-of-the-art technology has been used by the broker to provide you with fast execution, access to the latest market news, a variety of trading orders and trading alerts.
You don’t have to worry about a learning curve either because the platform is easy to use. Along with this option, you will also find that Coinibank is offering mobile trading apps that you can download on your Android and iOS devices. These allow you to access your accounts on your smartphones or tablets and use them at your own convenience. They keep you updated and let you access your account 24/7 for making the most of your trading.
- Can you find a suitable account?
The account options of a broker are also important because not everyone will accommodate you in the best way. Coinibank has added six options, which are Basic, Standard, Silver, Gold, Platinum and VIP. You have to deposit at least $250 to open the basic account and the VIP asks for a deposit of $50,000. Each of these accounts have different features because they are meant for traders with different styles. Some features include account manager, trading alerts, welcome bonus and expert analyst trading sessions.
However, you will be pleased to know that Coinibank also offers its clients the option of four saving accounts, which are Silver, Gold, Platinum and VIP. You can deposit funds in these accounts and earn money in six, twelve and twenty-four months, depending on your preference. This gives you another way to supplement your income without having to put in any effort.
Put all of these answers together and you will know that Coinibank can be the right partner for you to start trading.