Are you interested in developing a career in the financial world? The best thing about the financial market is that it is a diverse and extensive, which means there are tons of possibilities to explore. The most appealing feature that draws people to this industry is the flexibility it provides, especially when you decide to go for online trading. You can set your own hours, answer to yourself and take as much or as little risks as you want. Most notably, you can make thousands of dollars in a fraction of the time it would have taken to you to earn the same amount, through a regular job. Nowadays, online trading has become impressively popular since the financial markets are offering new opportunities for everyone.
There are thousands of instruments that can be traded in these markets, there is an option for everyone, no matter what kind of risk appetite they have. Plus, due to the internet and technology, trading has also become more accessible than ever, there are no such prerequisites or barriers that can stop you from getting started. It is up to you to pick the instrument you want to trade, decide how much to invest and figure out what trading strategy you wish to use. Not many careers will offer you such freedom and ease, since trading has gained a lot of popularity.
However, before you can fully head into the potential of trading, you first need to make some choices that can make a direct impact on it. Yes, education, knowledge and experience are not mandatory in this market, but finding a broker is. How else will you start trading? A broker is your gateway to the trading world; it’s what link you to the financial markets, plus it allows you to use the instruments you want and give you access to the most reliable investment platform (MT4), tools and other resources that help you throughout the process.
This step can often become a bit daunting for new traders and this is not because there is a limited number of brokers in the market. In fact, it is quite the opposite: because there are literally hundreds of them operating in the market. Just with a superficial research, you’d find an incredible variety of options that will generate a great confusion. How do you sort through this list to find your broker? Sure, you can read reviews and ask other people, but just because a broker is solid doesn’t mean it will be a suitable for you.
For instance, some brokers in the market are specialized in a particular instrument such as cryptocurrencies. If you want to diversify or may wish to do so later on, you’ll need a broker that offers more instruments. Likewise, there are brokers that are orientated to a specific category of trader, such as professional ones. You need to seek for a broker that offers you services according to your experience level and background. How can you do that? This will require a bit of research from you and as long as you take the right steps, you will be able to find the right broker.
If you don’t choose correctly, you could end up having to switch between brokers soon , loosing then time and missing, as consequence, many opportunities. It’s worth to be cautious from the beginning, that can pay off on a long time basis. One of the brokers that you will find in your search is TradeFW. Established in May, 2018 by iTrade Global (CY) Ltd, this European broker has developed a strong reputation in the market. It specializes in CFD trading, which means it offers you Contract For Difference to trade rather than having you buy the assets physically.
But, what steps should you follow to ensure if TradeFW is the right choice for you or not? Read on to find out:
|Trading Accounts||Standard, Gold, VIP and Professional|
|Assets Coverage||Forex, Stocks, Indices, Commodities and Cryptocurrencies|
|Trading Tools||Charting and technical analysis tools, trading indicators, price quotes, negative balance protection, risk management tools and Expert Advisors (EAs) for automated trading|
|Education and Training||Yes|
|Customer Support||24/5 customer support via email and phone number|
|Security Policy||AML (Anti-Money Laundering) and KYC (Know your Customer) policies, Investor Compensation Fund (ICF)|
|Parent Company||iTrade Global (CY) Ltd.|
|Regulation||Cyprus Securities and Exchange Commission (CySEC)|
Step 1: Checking the background
The first thing you need to do when you begin your search for a broker is to take a look at their background. Where are they based? Are they regulated? These are some questions you need answers to, in order to determine if the broker can be trusted or not. When it comes to TradeFW, as mentioned above, it was founded by iTrade Global (CY) Ltd, a company that is based in Limassol, Cyprus. It is a licensed and regulated broker, under the authority of the Cyprus Securities and Exchange Commission (CySEC), one of the top regulator entities in Europe. This is an automatic reassurance that the broker is a lawful one and can be trusted.
Since it is regulated, the broker’s accounts are audited regularly, which reduces any possibility of misappropriation or any other kind of financial crimes. They also maintain segregated accounts for traders, with some of Europeans top and reputable banks to ensure funds safety, by all meanings. TradeFW also complies with The Markets in Financial Directive (MIFID II), which means the broker is legally required to be transparent, fair and efficient regarding their services. These rules are meant to ensure customer protection, which is highly reassuring for any trader.
Step 2: Considering the registration process
The next step that you should take is to assess the registration process of a platform. It is necessary to do so, in order to let the broker understand what you need exactly and how long will it take to achieve it. Some brokers tend to have very complicated and lengthy requirements, which can often frustrate traders and they leave it at halfway. When it comes to registering with TradeFW, you will figure out that they don’t ask you to share any sort of unnecessary information. The broker has kept their registration process very easy and simple for its clients.
The registration procedure involves a form on their website that needs to be filled. What does it require? It asks you for some basic details, such as:
- Your first and last name
- Country of residence
- Phone number
- An email address
- Account password
- Confirming you are at least 18 or above
- Agreeing to their Terms & Conditions
You can find these Terms & Condition on their website and can go through them, in order to ensure to understand what you are getting into. Now, you are registered with the broker.
Step 3: Going over the account options
As soon as you are done with registering in the broker, the next step you need to take is to open your account. In order to do this, you have to check which account options are available. It is the norm for most brokers to offer several account options to their traders, in particular when they are offering their services to a global audience. Therefore, you will find multiple choices at TradeFW, since they have designed their services for all kind of traders. A total of four account options have been developed, and they are:
- Standard: The first account option is meant for newcomers in the financial market, therefore they have equipped it with features accordingly. It gives you a minimum contract size of 0.01 and 24/5 dedicated customer support, hedging, educational resources, an account manager and leverage of 1:30. The spreads in this account start as 2.7 pips and the commissions charged can vary, depending on where you are trading from.
- Gold: The second account choice that the broker has developed is called “Gold” and it is for intermediate traders. The spreads in this account are decreased to 2 pips and the minimum contract size is 0.05.
- VIP: To accommodate seasoned traders, TradeFW has introduced the “VIP” account in order to give them incentive, they have tightened the spread to 1.7 pips. The minimum contract size is 0.1, all of other features are accessible in this account anyhow.
- Professional: The last account option that the broker has developed for its clients is known as “Professional” and it is meant to be used by expert and professional traders only. Every feature offered by the broker is available in this account and the leverage is increased up to 1:500 as maximum, in order to help investors to trade with a higher volume.
Step 4: Looking at the trading products
After you have chosen an account to open with the broker, you need to take a look at the trading products that you can trade through those accounts. TradeFW has put together 170 instruments in their asset index and they are spread out over different financial markets in order to ensure that traders can have the best possible variety. You’ll obtain access to some lucrative and profitable trading instruments, which will help you to diversify your portfolio and maximize your returns, reducing the related risks.
If you are wondering what trading products you will find, some options are:
- Stocks: The stock market has always been synonymous with the trading world and for good reason. It has helped millions of people make huge fortunes by buying and selling shares of different companies, you’ll be able to do so with this broker. You can trade stocks of companies like Google, Facebook, Microsoft, Fiat, Apple, Unicredit, ENI and eBay. The broker has added some rare options like Cannabis stocks as well.
- Forex: Considered as the biggest financial market in the world, the Forex market has a ton of opportunities to offer to whom is interested in taking them. You can find an array of currency pairs, whether they are major or minor pairs or even exotic pairs. USD/CAD, USD/JPY, GBP/USD and EUR/USD are only some examples you’ll find.
- Indices: You trade individual stocks in the stock market, but indices let you trade on sets of stocks and other assets, which is much more lucrative and can offer solid returns. TradeFW offers the top indices in the market, such as Nasdaq, FTSE 100, S&P 500 and more.
- Commodities: Traders who adverse to risk will be able to take advantage of commodities that are available for trade. They can choose from hard commodities, which include precious metals such as gold, silver, palladium and platinum. There are soft commodities that comprise of agricultural items such as coffee, soybeans, corn and wheat. The broker has also added energies like crude oil, Brent crude oil and natural gas for trading.
- Cryptocurrency: Possibly, one of the hottest trading instruments in the market is cryptocurrency that has taken the financial world in a storm. Consequently, the broker has added top crypto like Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash for you to trade.
Step 5: Assessing the trading platform
After you have explored the trading products you can trade on TradeFW, you need to know how you can trade them. If you are eager to get started, that because there are some very interesting opportunities; but to begin trading, you need to make sure which trading platform to be used. This is essential because it will determine the possibility for you to incur in any sort of difficulty in trading or not. If the platform is too complex, you will have problems in surfing it and this can affect your ability to trade.
This broker has added the MetaTrader4 (MT4) suite of trading platforms, which are regarded as the best in the market. There are different versions of MT4 that can be found in the market, the broker has added them to its offerings to facilitate its traders, as much as possible. These versions are:
- MT4 WebTrader: A simple and easy-to-use trading platform, this one doesn’t have to be downloaded or installed on any device. This is because it is accessed via a browser and so, you can use it with any sort of internet connected devices. This means that traders are not responsible for upgrading it either. It comes with top-notch encryption, one-click trading, real-time quotes, numerous execution modes and multiple order types. You can access your complete trading history and use trading indicators, technical analysis tools and charting tools too.
- MT4 Desktop: The most innovative trading solution, the MT4 desktop is the most powerful version of this trading software. There is no dealing desk intervention, but the platform is fully customizable, which makes it easy for traders to use it. The interface is highly intuitive and can provide a smooth trading experience to every trader. It has been equipped with an advanced charting package, a huge variety of trading indicators and analysis tools, plus it has a superior trade execution. You can trade in a single click, use the multiple chart setup, navigator window and different order kinds as well. The platform also lets you download Expert Advisors (EAs) if you want automated trading benefits.
- MT4 Mobile Apps: The third option that you can explore when you are checking out the trading platforms is the one for mobile apps. Nowadays, mobile devices have become quite common and people are using them for any sort of task. In fact, some people use them as a substitute for computers and laptops. Therefore, the MT4 mobile apps were developed and can be downloaded on both Android and iOS devices. With these apps, traders are free to trade, no matter where they are.
They can access their full trading account and can leverage even the smallest movements in the markets in their favor. The good thing about the MT4 apps is that they are just as powerful as their web and desktop counterparts. They have been integrated with advanced features, including charting tools, real time price quotes, various execution modes, a complete set of trading orders and multiple screen access. Customization is also possible and the trade execution is also quick and smooth.
Step 6: Exploring the payment solutions
When you have figured out what trading platform can be used with the broker, it is time for you to deposit your funds in order to trade actually. After all, you cannot really buy or sell anything with no money, can you? That been said, how to add your funds? You are ready to invest: how will the money get into your trading account with TradeFW? In order to make this happen, the broker adds many deposit solutions to their platform, which are used for both deposits and withdrawals.
Eventually, you would want to withdraw your profits as well, so it is best to know what options are available. The broker lets traders to choose between traditional options, such as bank wire transfers that use your bank account or S€PA transfers. If you prefer more advanced options, you can use debit and credit cards, as the broker supports MasterCard, Maestro and Visa, which need to be personal ones. In addition to these, some modern choices like e-wallets have also been added. These include Skrill and Neteller, which are commonly used for making online payments.
Both deposits and withdrawals can be made via these methods. The deposits don’t incur any charges, but they are applicable on withdrawals and can be different for every method. The minimum deposit that you can make to trade with TradeFW is just $250. You can make your deposits in one of those three currencies: GBP, EUR and USD. If you use any other currency, conversion costs will be incurred. As long as you comply with AML and KYC rules, you will be able to trade any financial transactions without any hassle.
Step 7: Taking advantage of learning resources
Your success in the trading world will greatly depend on your knowledge and understanding of it. Sure, luck can also work, but it’s not the way of trading. Eventually, you will need to rely on facts and your trading strategy. But, how do you learn them? TradeFW has assisted their clients since they have created an education center on their website, here traders can find extensive learning resources to be used. You can find a wide range of learning material that can help you to increase your knowledge of the market and understand its ins and outs.
There are videos and tutorials available, along with detailed e-books, articles and blogs. In fact, the broker has put together a complete glossary of relevant keywords that you need to learn and understand. You can also attend courses and webinars organized by experts, which can assist you in knowing the latest happenings in the market and refining your trading strategy to avoid as many mistakes as possible which could set you back.
Step 8: Evaluating customer support
Last but certainly not least, you also need to think about the kind of customer support the broker provides. Trading is an unpredictable activity and you never know when you may need help. If there are no proper channels for getting answers, it can cause you a great amount of problems. Obviously, you want to avoid it, TradeFW has added dedicated customer support available 24/5 for your ease and convenience.
You can get in touch with their customer support team through an online contact form. The broker has also provided four different email addresses and phone numbers for traders from Germany, Italy, Spain and the United Kingdom. There is also a general number for traders in other areas. Their agents are responsive and friendly and will work on resolving your issues quickly. Apart these options, the broker has also put together an FAQ section on their website, where answers to common questions can be found.
Now that you know what to expect with TradeFW, you can create your account and start trading in the financial markets for a long and profitable career.