While the trading process has undergone some changes since shifting online, there is one thing that has remained constant; the role and importance of a broker. They are just as vital to online trading, as they were to the conventional way, and you need to sign up with one if you have any aspirations of profiting from the financial markets. In the last couple of decades, the number of brokers has surged significantly due to the heavy traffic in the financial markets, but this doesn’t mean all brokers are reliable. There is a need to go through 500.trade review, or that of others companies, before you choose one.
This is due to the fact that there have been some scam and fraudulent platforms that have exploited people. Likewise, there are also shady and misleading companies that you don’t want to partner with. Thus, you can distinguish good options from the unreliable ones through a review. 500.trade is one platform that has experienced considerable popularity, so it is understandable that people would want to review it. To come to a decision, you should ask some essential questions about them, as this will simplify the process. The questions that need to be asked are:
What assets does 500.trade offer?
The first question you should ask is about their asset index because it determines your risk and your profitability. Everyone wants access to the best and 500.trade will deliver exactly that. They have given their clients access to more than 1,200 global financial markets and there are more than 700 instruments to choose from these. This allows traders to find a suitable trading product, depending on their risk profile and profit expectations.
You can choose from forex currency pairs like EUR/USD, GBP/USD, USD/CHF and AUD/NZD, or you can invest in commodities like precious metals including gold and silver, agricultural products including wheat, sugar and cotton, and energies like natural gas and crude oil. There are stocks of companies like Apple, AT&T, Coca Cola, Amazon, Netflix, PayPal and Tesla. You can choose from indices like NASDAQ 100, FTSE 100 and S&P 500. 500.trade has also added cryptocurrencies like Bitcoin, Litecoin and Ethereum to their offerings.
With such wide variety at your disposal, diversification is made easy, allowing you to mitigate your trading risks.
Is 500.trade secure?
While the assets and markets you can access can be quite tempting, you shouldn’t make compromises on security. No one wants their hard-earned money to be stolen, or their personal information to be misused. Thus, knowing what kind of security you are given is essential. 500.trade’s goal is to give peace of mind to its clients, so it has created strong security policies. They use advanced SSL (Secure Socket Layer) encryption for keeping all sensitive and private data under wraps.
This prevents any third-parties from accessing confidential information without proper authorization. Likewise, they have opted to follow customer account segregation policies. This dictates that all client accounts are maintained separately from the company’s own and they are deposited with reputed financial institutions to keep them safe. If 500.trade was to file for bankruptcy, they would be returned to the traders.
Can you trade seamlessly?
Your trading experience with a broker depends on their trading platform, which will vary for every company. If the platform is not up to the mark, your performance can suffer because it could be difficult to use, break down, or may just be too slow. 500.trade aims to provide an optimal trading experience to its clients, so it has developed a web trading platform that’s compatible with any device with a web browser. It is a multi-asset trading platform, so you can trade everything easily and enjoy the flexibility of using it on any device you want.
The company has opted to use sophisticated trading technology to deliver fast trade execution and the highly intuitive user-interface ensures that it is not too complex. Moreover, 500.trade has integrated their platform with powerful and innovative trading tools, such as live charts, trading signals, price alerts, custom indicators, market analysis and reviews, various order types and risk management tools.
What account options are available?
You will be required to open a trading account that keeps track of your information, your deposits and withdrawals and your trading history. Brokers offer various account options to facilitate traders from all walks of life and this is what 500.trade has also done. But, what makes them different is that they have added six options, as opposed to the usual three to four. You can choose from the Basic, Bronze, Silver, Gold, Platinum and Elite accounts.
The minimum deposit and the features provided in each account will be different. For the first account, you have to deposit €250 and this increases gradually to €1,000, €5,000, €10,000 and €25,000, respectively. As for the Elite account, you cannot sign up directly because it is invitation-only and reserved for professional and VIP traders who can meet some specific requirements. If you want to upgrade to this account, you can talk to the account manager provided by 500.trade and they will be able to guide you about what needs to be done.
You can opt for an account option depending on how much you want to invest and your skill level and experience. Whether you are a newcomer or beginner, skilled or intermediate trader, there is an option for you. 500.trade has also added different features to improve the trading experience of its clients. Some are common amongst all like customer support, price alerts, Pro webinars, daily market review and daily video analysis. Others like 1-on-1 training, personalized trading strategy and exclusive position access are account specific. Likewise, welcome bonus is also given in some accounts and the expertise of the account manager also varies.
You can also ask about their 24/6 customer support and the numerous funding methods they support to clear up any doubts. It will help you in choosing 500.trade for a smooth and profitable trading experience in the financial markets.