You want to sign up with the best broker because you want your trading career to be successful. Of course, when you start trading you don’t always have a lot of money. Whatever amount you have, you want to make the most of it. However, choosing the best broker can be quite a difficult task at times. You have many online brokers that promise a lot of things but deliver absolutely nothing. When you look at their regulations and policies, you realize that they are in it for themselves, not for the traders. At the same time, you also have to protect yourself from online scammers and fraudsters.
There are more online scammers than you might imagine. You can find them fooling people in the name of Bitcoin trading, forex trading, and just about any type of trading that you can name. So, finding the best or one of the best brokers is nothing less than a blessing for a trader. Now, when you look at some of the best brokers of 2020, you will find the name of MDX500 in them. This broker has been rising the ladder of fame fast in the recent months. Has this broker discovered the key to making things right for its traders? You will find out as you read this detail review on MDX500.
Why MDX500’s Trading Platform Is Different
First of all, you will realize that the trading platform from this broker is different. There are many reasons to back up that claim. Let’s look at those reasons one by one.
· A Non-conventional Trading Platform
If you have researched online brokers, you must have noticed a trend. Most online brokers go with MetaTrader 4 trading platform. There is no doubt that it has remained the best trading platform for many years. However, things have to change at some point. What used to be great 10 years ago cannot be practical in today’s world. You want something that updates with the passage of time to meet the requirements of the modern traders. So, you cannot always rely on MetaTrader 4 trading platform forever. For this reason, the broker has brought you Active8 trading platform.
This is a robust trading platform with all the features that you will find on MetaTrader 4 and some more. You will see it as an improved form of the trading platform that were once the best of their time. It is fast and does not make you suffer the agony of requotes. When you sign up with this broker and enter a trade, you will enter that trade. You will not know after a few minutes that the broker has canceled your order.
· A Trading Platform for All Devices
This trading platform has been designed by the broker to meet the needs of the modern traders, and there is nothing more important to a modern trader than a trading platform that conforms to his/her lifestyle. So, you are looking for a trading platform that you can carry with you wherever you go. You don’t want to have a specific time to trade. In fact, you want to trade whenever you see the right time for it. If you are looking to trade while you are having a break during your university, you should be able to do to that. If you think the asset you have been following for many months is showing some good signs while you are on your lunch break in the office, you should be able to trade it.
To meet your needs, the broker has given you a trading platform that you can use no matter where you are in the world. Whether you are in your office or traveling to some other country, you can use the trading platform on the device of your choice. You have its desktop version that you can use on your Windows computers. However, if you are looking for the trading platform on your smartphone, you can go with its smartphone application that works great on iPhones and Android phones without any problems.
· A Platform with Great Trading Features
Trading on Active8 is no big deal. The trading platform is easy to use and understand. You will not have to spend many days to learn how this software works. In fact, you can start straight away without going through the learning curve with this trading software. It has an intuitive interface for its users, who hail from all parts of the world. Many of the traders are trading for the first time in life and that’s why the broker has to keep their interests in mind while designing the trading platform. So, when you need help with your trades, you will get plenty of it on this trading platform. Whether you want some great charts or indicators, you will have them all on your trading platform.
The charts that you find on this trading platform are of many different shapes. You can trade based on the simplest charts that only show you the history of the price of an asset. However, if you are deeper into trading and understand that volume is just as important in trading as the price of the asset, you can go with other charts that show you the volume of trading at any given point. In other words, you can have your data the way you want. You can see things the way they make sense to you.
Copy Trading Is a Thing
There are some great features that have completely revolutionized the way people used to trade before. However, there are brokers who are still keeping their traders trade like they used to do many years ago. For example, you now have the option of trading without doing things manually. Automated trading is something that you will see more and more in the coming times. You already have many trading platforms that you can put on autopilot mode and go to sleep. The platform is working and entering and exiting trades on your behalf even when you are sleeping if you are using an automated one.
More importantly, there are some great features that have made the lives of new traders easy. For example, if you notice the website of the broker, you will realize that you have the option of trading in the shadow of the best traders in the world. Yes, there is an option that’s called Master Trading when you sign up with MDX500. This option allows you to copy the trades of the best traders on the platform. They have been trading for many years so you can rely on their trading decisions. This way, you can keep the danger away from you and avoid the risks of trading blindly, which is the biggest risk that traders face when they start trading.
A Secure Online Platform for Trading
How much has the broker that you have signed up with paid attention to your security and the security of the trading platform as a whole? Can you see any indicators that your broker is serious with your security? There are certain measures that online brokers can take to prove their seriousness with safety. You will be glad to know that this broker has all of those great features in one place. Let’s look at them one by one.
· Encryption of Data
One of the things you expect from modern brokers is that they will take care of the information you are providing on their website. Of course, you will have to provide a lot of information when you sign up with the broker. At the time of signup, you will have to create a trading account with the broker. Creating a trading account with the broker means that you will have to deposit money in it as well. For that, you will have to provide your personal identification information, banking information, credit card information, and much more to the broker. Can you trust a broker that keeps your information out in the open?
Well, if the broker is not encrypting the information you are providing on the website, it is nothing less than keeping gold out in the open. However, you will have peace of mind after knowing that this broker encrypts every bit of your information as soon as you provide it on the website. This way, the broker protects your information from any third parties that could harm you in many ways by stealing your info.
· AML and KYC
If you haven’t heard these terms, you will know about them as soon as you land on the right broker’s website. The right broker will make sure that you know about these policies before you even sign up on the trading platform. That’s what you will get from MDX500 as well. The broker has made sure that you know about these policies before you sign up with it. These policies are there for your protection. The AML policy, which is for anti-money laundering, makes sure that the trading platform of the broker is used only for fair trading and no other activity.
If someone tries to use this trading platform for money laundering, they can’t because of the many strict protocols in place. In addition to that, the broker makes sure that it collects proper identification information from its traders before they start trading with it. Now, if someone has stolen your information, they can provide it while signing up. However, the broker will also ask the trader to submit the scanned copies or pictures of their identification information, credit card, bank statement, etc. as a proof that he/she really is the owner of the information that they are providing on the website.
· Security of Funds
The more you know about online trading, the more secrets you will discover. So, before signing up with an online broker, you should make sure that they are keeping your money safe in segregated accounts. What are segregated accounts? Well, these are accounts that brokers separate for their traders. When you create a trading account with an online broker, you have to deposit funds in it. In some cases, the funds you deposit in your account will go into the same account that belongs to the broker. This mixes your money with the money of the broker. If an investigation starts some day with the broker and its accounts are frozen, your money is stuck too.
However, you can rest assured with MDX500 because the broker has created segregated accounts where all the money that you deposit in your online account goes. This way, your money is safe even when the broker is under investigation or scrutiny.
Many Assets and Financial Markets
When you sign up with a broker, you want access to many financial markets. At the same time, you want many assets in your reach so you can analyze them and trade the ones that you think suit your trading style. That’s where the asset index from the broker makes a lot of sense. If the broker has a small asset index, you will not have enough options to find out the assets that suit you. However, with MDX500, you will find all the assets that suit your trading style. There are so many that you can create a great portfolio of trading with them. Let’s take a look at the categories of assets that are available to you for trading with this broker.
They are the hottest assets in any financial market right now and there is no reason why your online broker should not give you access to this financial market. When you talk about cryptocurrencies, you are talking about the latest assets and the ones that are going to be the most practical in the future. You have thousands of digital coins that you can trade on the internet. However, they are not all viable for trading. However you can still trade quite a few that are not only safe but can also provide you with some great returns. Unfortunately, not all brokers give you access to these amazing assets.
MDX500 allows you to trade the most reliable crypto assets from the cryptocurrency market. You are not limited to treading Ethereum and Bitcoin only. You can trade Bitcoin Cash, Litecoin and many other digital currencies with this broker.
· Forex Currency Pairs
Yes, there is no doubt that cryptocurrencies are becoming more and more popular with the passage of time. However, that does not take away the fact that forex is the largest financial market in the world right now and it has been that way for many years. The size of the market is only increasing with time if you notice. Forex currency pairs can be of many types. You can choose the currency pairs that suit your style of trading. The good thing is that MDX500 is providing you with some really great options. So, you can trade the major currency pairs if you like to trade safely and with minimal risks.
However, if you don’t mind risks and want to give it a shot to make some huge profits with volatile assets, you should go with minor and exotic currency pairs. You have to be careful when you trade these assets though.
Trade the stocks of your favorite companies in this category. You can pick the best companies of the world by choosing the right index. Do keep in mind that you will be trading them in the form of CFDs. Furthermore, you have to know that the broker is providing you with some great leverages on indices as well.
Commodities are always interesting because they provide you with a lot of different assets that you can trade from the same trading platform. So, when you talk about commodities, you are not looking at a specific asset in the market. These assets can be of many different types. If you are looking to trade energies, like gas and crude oil, you will find these assets in this particular category. However, interestingly, you will also find orange juice, wheat, and other produce in this category. The best part is that you will also find some great precious metals for trading in this category. If you want to trade copper, platinum, silver, palladium, and gold, you should pick this category.
Some Great Features with MDX500 Trading Accounts
When you sign up with a broker, the first thing you encounter is the trading account. You usually have a bunch of trading accounts that you have to choose one from. Of course, this bunch of accounts is there for your convenience. The broker wants to create an account for just about any type of trader. Whether you are on a budget, or you are looking for something that only VIP traders want without any care of the budget size, you will find something for you with MDX500. The broker has offered some great features with its accounts. Let’s discuss them one by one.
When you sign up with an online broker for trading, you get leverage on your trades. Leverage allows you to trade with more money into the trade. What it means is that you get a contribution from the broker so you can enter a trade which is otherwise not possible with the amount of money you have in your account. So, when you get leverage, your trade size increases. If you are successful with your trade, you end up with some huge profits. However, you have to be very careful when using leverages. You can end up with a losing trade as well and that’s when the leverage can go against you.
Regardless of the type of account you sign up with, you will get 1:30 leverage from this broker on your trades. That’s a generous leverage, which remains the same for basic as well as experienced traders.
There is always going to be some difference between the buying price of the asset in the market and the price being offered by the broker. This difference is called spread and the broker makes money through this spread. The spreads with this broker are quite tight so you can enjoy a big part of the profit you make on your trades. With the basic account, you will have spread of 1.3 pips. These are some really tight spreads if you research online brokers. With the bold account, the spread is at 1.5 pips. However, if you want to enjoy the loosest spreads, you can go with the VIP account in which the spreads start from 0.1 pips.
· Personal Account Manager
Trading can be an overwhelming experience when you are just starting. You always need someone’s help to gain confidence and understand things. The broker understands that really well. That’s why, with MDX500, you will get a personal account manager with every single account.
· Islamic Account
If you have Islamic beliefs that prevent you from trading with a regular trading account, you can go with the Islamic account. This shows that this broker is allowing every trader on its trading platform to earn through trading regardless of their location, ethnicity, and religious beliefs. The best part is that the option of an Islamic account is available with every account type.
· Trading Signals
A trading signal tells you whether you should buy an asset or sell it. This is a great tool that can help you increase the rate of your successful trades. However, if you want to take advantage of this feature, you will have to pick the VIP account and make a deposit of $12000 to receive trading signals.
You can call MDX500 a complete online broker. It provides its traders with a plethora of options that suit their trading style. It gives them a great trading platform and makes the environment friendly with a variety of trading flexibilities. Not to mention, you will have access to a variety of financial markets and tradable assets when you sign up with this broker. So, if you have been thinking about trading and signing up with an online broker, make sure you check out MDX500.