Technology continues to evolve in unimaginable ways to make our lives better. It touches on every aspect of our lives and also various industries; making things easier as it goes on. The financial industry has been around for a very long time but it only began to gain the mass attention it now has a few years ago due to the emergence of digital trading.
With digital trading, the profits posed by the financial industry are unlimited. Technology makes it easy to access hundreds of markets all at the same time. Due to this, a lot of people have cashed out big time from their various investments in the industry. As the success story of several people grew in the market, so did the interest in the financial market.
Many people who were once skeptical about the industry are choosing to throw caution to the wind and explore the opportunities that the industry seems to offer. The only catch to all of this is a broker. A broker is your entry point into the financial market. They are the connecting link between a trader and the hundreds of markets available in the industry to explore.
Thanks to technology, one does not need to go in search of a brokerage firm around them. There are now online brokers designed to provide you with the platform you need to perform the trades you want. While it is convenient, the hundreds of brokers that are continually erupting in the industry have made it extremely difficult to pick the right one.
It would have been great to have a vast selection of brokers vying for your attention if they were all legit and truly delivered on the many promises they make. However, this is not the case. Half the brokers on the platform are not efficient enough to truly be of any advantage to a trader. Many of them are half-baked and do not have the resources and tools that a trader needs to excel in the industry.
Some of them are also scammers posing as efficient brokers and will only end up scamming traders and leaving them short of funds. This can be very discouraging for a new trader trying to find their feet in the industry and they might cut their trading activities short and pull back. Even traders who have been in the market for a while sometimes fall victim to these platforms that offer traders so many bonuses and enticing packages meant to rein naïve traders into their platform.
What is the best course of action? Research always works. Even legit platforms may not offer you the right platform to perform trades. Some platforms are designed for traders who have a level of knowledge in how the market works. Some are better suited to newbies and were designed for their convenience. Finding the right fit for you is important.
There are also platforms that can only offer a limited selection of financial products and these could be discouraging for traders who are looking to diversify into various assets. They would then have to go through the trouble of registering in a new platform that offers them the other asset they would like to invest in. This is why it is always a good idea to carry out research before you register on a platform.
Once again, we are here to save you the stress and have found an online broker that has the qualities that might just make it the right fit for you – FXOro. This online broker has been around for some time and has made a name for itself in the industry delivering excellent services. This broker doesn’t make tall claims and prefers that you come to find things out yourself. Let’s dive into the background of FXOro to understand this broker much better.
A Quick Sum-Up of FXOro
If you check the financial industry, you will find that most of the top traders that are always cashing out big time come from Cyprus. Traders from this side of this world are tapping into the Forex market and making as much profit as they can. This country is teeming with many companies and traders who recognize the potentials that could be found in the industry and are making the most of it.
Many online brokers have emerged from this side of the world also. This is because there are many expert traders located in this country who understands what is needed in the industry to succeed and are looking to make it available to other traders. It is even advised that when looking for an online broker to partner with, you should keep a lookout for one from Cyprus.
Well, FXOro has that box checked as their headquarters are located in Cyprus. This online trading platform has been around for quite a while as it began back in 2012. It has however stood the test of time by providing top-notch services to customers on its platform. It has received stellar reviews from its many members and stands proudly as one of the top brokers to look out for in the industry.
Although FXOro first began as a platform for trading Forex, it has expanded its boundaries to offer customers entry to many markets by integrating several other financial products to trade with. FXOro impeccable services changed the tune of many traders in the industry who found it difficult to get a dependable broker to register with. Traders left astounding reviews about the different features of this platform.
With the many unregulated platforms in the industry, it is always nice to find one which is regulated and therefore can be trusted to deliver on their many promises as there is an authorized body keeping them in check. This is another box that FXOro has fully checked; their platform is fully regulated and they operate in line with policies that protect the interest of its customers.
This platform also has many tools that can be instrumental in advancing trades in the market. With the many tools and also educational materials that FXOro has, a trader will excel easily in the financial industry. They also have a professional team behind them prepped and ready to assist any trader who needs their help at any time. One of the FXOro team that could be counted on at all times is their customer support team. They are well-informed and take delight in answering questions and queries of customers.
They also have in place market experts who are available on the platform to help traders with any trading decision they would like to make. FXOro fierce commitment to offering their clients the very best in all sections is admirable and one of the reasons a lot of traders have chosen them as their online broker in the industry.
There are however several other features of this platform which we would be checking out in the review to give you a holistic picture of what this online broker has to offer you and why it is tagged a top trading platform in the industry and various markets.
General Features of FXOro
Every online broker in the industry has a selection of qualities that are meant to appeal to traders in the industry. However, several brokers end up being dishonest about their features and benefits and traders find it a colossal waste of their time when they register on the platform. FXOro however has several features that a trader is bound to love and we would be going into details about these qualities to give traders a better idea of what this platform offers them when they register.
Top-Notch Security Measures
The main problem that is found in the financial industry is security. A lot of platforms cannot offer security to their customers. Hackers are continually looking for ways into a platform and once they see a single loophole, they would exploit it and make their way into the platform. There is always a new story of traders who were victims of cyber-attacks in the industry. This is why a lot of traders are now wary of platforms and need to be assured that these platforms have advanced security in place.
Traders with FXOro do not have to worry about security with this online broker. Registration on the platform is not as simple as many people might think. Traders have to authenticate their identity and their address before access is given to them. FXOro first confirms the documents provided before allowing a trader into its website. It is not as concerned about gathering clients as it is about the security of traders already on the platform With this, you know you’re also protected once you make it into the platform.
Data on this platform is also encrypted at all times to ensure that cybercriminals find the information useless and indiscernible. This is because the encryption is done with advanced technology to ensure that customers get the best security available. Also, traders worried about their funds can rest assured as this online broker keeps traders money in an isolated account that prevents the broker from accessing the funds for anything other than investments by the trader.
Vast Financial Instruments
A trader wants to be assured that they will not have to go through the trouble of registering in more than one platform when they want to trade with different assets. This online broker is all you need to gain access to various markets. It has an impressive number of assets that will present traders with many trading opportunities than expected.
Forex is the main asset this platform offers traders, its various currency pairs are notable. There are various major currency pairs with also minor currency pairs. For traders who understand that exotic currencies yield more profits, it is also made available on the platform. The booming cryptocurrency market is also not left out of the mix. There are several top cryptocurrencies available on the platform for traders looking to access the crypto market.
This is not all this online broker has to offer as traders also have access to commodities and indices if they wish to trade with physical assets. CFDs are also available on the platform for traders who trust their prediction abilities and would like to trade on contracts. There are many tools available on the platform however to assist you trade and make profits with whatever assets you pick.
Exceptional Educational Materials
It is always a good idea to store up on knowledge if you intend to keep trading in the industry; no knowledge is ever wasted when it comes to trading. This is an added advantage that FXOro offers its clients; a wide array of training material that both new and experienced traders are bound to benefit from. Beginners are bound to benefit from these materials even more than traders who have a better grip on how the market works.
There are ebooks on the platform as well as other courses that will teach traders about how the market works and the different market opportunities one can explore with the different assets. In addition to these are webinars that are in-depth and provided by market experts. Other tools available on the platform are daily market updates as well as in-depth analysis of the updates that will help clients understand why the prices of assets may have changed.
Another top tool that is available on the platform is the autochart list that many traders usually look for in other platforms. FXOro offers it freely and customers can use it to find different market charts and patterns. With these educational tools, a trader will never miss out on opportunities to profit in the market and new traders will soon become professionals in trading.
Simple Processes of Depositing and Withdrawal
If you’re looking for a platform that won’t stress you out when you want to make deposits and withdrawals; then you would find FXOro to be suitable for you. This online broker has put in place many methods that clients can easily carry out deposits so that they can pick whichever they find more convenient for them. There is a wide array of e-wallets and debit cards to pick from. In addition to this is the bank transfer method.
Every other method is carried out instantly but the bank transfer can take days depending on the bank from which it is made. There are different currencies available to pick from according to your country’s currencies. The same methods go with withdrawals and the funds are paid in the same currency with which deposits were made.
Withdrawals are fast and are usually confirmed within two days of the request being made, with the exception of bank transfer once again. There are few withdrawal fees on the platforms and the fee depends on the method being used. Deposits however do not incur any fees to carry out.
Account Options Available with FXOro
Apart from the demo account that traders can practice trading with on the platform, there are three other accounts that traders will benefit from in so many ways. The demo account was put in place mostly for beginners who do not know how to trade. They can make use of this account to understand how the market works and how prices move in the market.
Traders who are also skeptical can make use of the demo account to get a feel of the platform and know how it works. While the Demo account is completely free, other account types require a certain amount of funds to unlock. There is also the Islamic account which is just a version of the other accounts that complies with sharia laws of not holding trades overnight.
- The Fixed Account
As the name implies on the account, your spreads will never have the chance to move when you choose to start out with this account. New traders most especially will find this account convenient because of the low deposit of $200 required to unlock this account. Margins are being used on this account with a leverage ratio of 1:400.
- The Floating Account
As the second account available on FXOro, this account offers better chances than the fixed offers. Traders who have garnered a level of experience while trading in the market will find this account enjoyable. Spreads on this account are floating which means it can be moved. Traders are however expect to use 25% of their margin at a leverage ratio of 1:200 and it only requires a $1000 deposit for this account to be unlocked.
- ECN Account
When you have gotten a high level of experience in the financial industry, you can only go for the best account available on the platform. This is because you’re prepared to take more risks and that is what this account offers traders. Trades on previous accounts who have a better understanding of the market can switch to this account also. It is available for a $5000 deposit and margins are available at 50% along with a 1:100 leverage ratio.
It is always a great experience when you carry out successful trades in the market. This is what traders are looking for and this is what FXOro offers you. This online broker leaves no resources behind as it strives to provide an efficient and safe trading platform for traders who have registered with it. With a variety of accounts, you can start small and then build up. Whichever your choice is, FXOro is there to deliver at all times.