When you are ready to make an effort to start your trading journey, you would obviously want to boost your chances of success. It is true that even though trading can be immensely profitable, it also has the risk element associated with it. You can try your luck and in some cases, it will certainly work in your favor, but it can also go against you. It is possible to make a fortune within minutes, but it can also be wiped out in the same time span. Nonetheless, it is not just skills, knowledge and experience you need for achieving success in the trading world.
Your trading success will also depend on the trading platform you use, the tools available and other resources that are all part of the process. Where do you get these? This is where a broker comes in. They are the ones that provide you with all trading facilities and you have to find one that’s reliable and good. In the last decade, there has been a surge in online brokerage numbers, but it is important to remember that this is no guarantee of quality. Not every broker, even if they are authentic, will be the right choice for you.
It is possible that they cater to a specific category of traders like professionals or they only specialize in a single asset like cryptocurrency. You have to dig a little to find out everything possible about the broker because the right one can help you in realizing your potential in the trading space. Ualgo is one of the brokerages that you will come across and you need to dig into them to know if they are capable of facilitating you. This CFD (Contract for Difference) broker is located in St. Vincent and the Grenadines and governed by the Markets in Financial Instruments Directive (MIFID II).
But, how can Ualgo help you in starting your trading journey? Find out below:
The broker’s registration process
Every broker has a registration process that traders need to complete in order to access their services and features. However, there is no standard procedure in place, which means brokers are free to incorporate whatever steps they want. The problem is that some brokers have complicated their registration procedures by adding numerous forms, contract signing and even approval times, which can often be annoying. But, at Ualgo, you will come to know that the registration procedure is quite straightforward and quick as well. They don’t charge you for registration and there is just a single form to be completed.
The form asks your first name, last name, phone number, country, email address and a password. You also have to opt for an account currency and there are three options provided; USD, GBP and EUR. Lastly, you have to agree to the Terms & Conditions of the broker that are mentioned on their website and your registration will be complete. There is no approval process or waiting time involved.
The broker’s security features
As mentioned above, the registration process involves sharing some personal information with the broker and you will also deposit your money in order to start trading. Doing either of these on the internet is extremely risky, considering the number of cyberattacks that have happened quite recently. If your money or information is compromised, it results in unwanted circumstances. Subsequently, you should look for a broker that can offer you a secure trading environment. In compliance with MIFID II, Ualgo has incorporated various security protocols on its platform.
The broker uses advanced SSL (Secure Socket Layer) encryption for keeping your information safe and to prevent it from being misused. Ualgo has also opted to keep customer accounts segregated i.e. separate from its own, so their funds are only used for trading activities and not for paying off their own obligations. The broker also follows the Anti-Money Laundering and Know Your Customer policies, which are known as AML and KYC. These are meant to provide a secure environment by ensuring that no identities can be stolen and the platform cannot be used for money laundering or other illegal activities.
The broker’s asset offerings
After you are done knowing how secure the environment is, your next step should be to know exactly what you can trade. After all, the instruments available will decide how much profits you will really be able to make, if any. Ualgo will come off as quite impressive here because they have a horde of trading instruments to offer to their clients. If you want to trade in the stock market, the broker gives you stock CFDs of some of the biggest companies in the world. You can also try lucrative markets like indices and options include S&P 500, NASDAQ, Dow Jones and more.
There is also the forex currency market, with pairs like AUD/CAD, EUR/USD, USD/RUB and GBP/JPY. With Ualgo, you can also trade different commodities, such as agricultural products, precious metals and energies. The latest trading instrument i.e. cryptocurrency has also been added by the broker and options like Bitcoin, Litecoin, Bitcoin Cash and Ethereum are available.
The broker’s trading platform
To simplify the trading process for its clients, Ualgo has opted to provide its clients with the SIRIX trading platform, which is powered by state-of-the-art technology and offers a horde of innovative tools and features. It comes with excellent trade execution and one-click trading features. As far as trading tools are concerned, you can find advanced charting tools, trading indicators, technical analysis tools and an economic calendar. You can go with the desktop version of the trading platform or choose the web-based one, if you prefer not to download anything. Mobile trading apps for both iOS and Android have also been made available for the traders who want to enjoy trading on the move.
With these comprehensive offerings, Ualgo is able to provide a smooth trading environment for its clients to trade in the financial markets easily and reap the benefits it has to offer.