You can have a variety of concerns before you sign up with an online broker for trading. Of course, just because you can trade from the comfort of your home does not mean you will always find the best broker in the world on the first go. There are many things that need to be considered to pick the right broker that provides you with a viable trading platform on the internet. Keep in mind that when you decide to trade, you are trying to create an extra stream of income. You want to take risks, but you don’t want to risk all the savings that you have by choosing the wrong broker.
Now, when you go online and starting searching for the right broker, the best resource for you is the reviews you get from the experts. That’s what you have found today. I can tell you about a great broker that I consider one of the best based on the three qualifications that I think help you identify the right broker. If I find a broker that does not meet even one of these requirements, I think it is not the broker I would ever recommend to other traders. Today, I will be talking about Redrock500 to help you identify the features that make this broker a great fit for traders.
Redrock500 – Is It Secure, Flexible, and Friendly?
The first thing I want you to find in the broker you are thinking about is encryption. When you send information on the internet lines, you take the risk of getting this information hacked. When your information travels on the internet lines, hackers and cybercriminals can get a hold of it. There are many ways for organizations to make sure that they protect your information. What they do is that they put a cloak around the information when it is traveling through the lines from one computer to another computer. The technical term for that cloaking is what you can call encryption.
Encryption is when your information gets converted into a code that no one can recognize other than the people who have converted that information into those codes. So, when you sign up with an online broker, you want this feature for sure. I cannot think about signing up with a broker unless it confirms that every bit of information that I will provide will be converted through encryption. Why do I make such a big deal out of this? Well, because I know that the information that I have to provide while signing up is very sensitive.
If you don’t know, you will have to provide the broker with the information of your bank account. For example, if you decide to deposit funds in your account through your credit or debit card, you will have to provide the broker with the picture of your debit or credit card. More importantly, you will have to submit the front and the back picture of the card. If you use a bank wire transfer option, you will have to send the picture of your bank statement. Not to mention the fact that you will always have to submit the picture of your driver’s license or any other document that can serve as proof of your identity.
With all that in mind, I cannot afford to sign up with a broker that will let my information flow freely on the internet lines without any protection. I am glad that I researched and found out about Redrock500, a broker that protects my information through the latest standards of encryption.
· Segregated Funds
After the information that you provide on the internet, the next important thing is the money that you deposit in your account when you open it with the broker. The problem with opening an account with the online broker is that you don’t know where your money is going. The standard of the industry is that the broker has to maintain your funds separately. The broker should not mix your money and its own money in the same account. In fact, every penny that traders deposit in their accounts should be maintained in a separate account that the broker has opened with a reliable bank.
If you are signing up with the right broker, you will get all of this information right from the broker. You can visit the website of the broker and all the information about where your funds are going will be there on the website. So, you will be happy to know that the money you deposit in your account with Redrock500 will also go into segregated funds. These are separate accounts that the broker will maintain in the bank only for the traders. Its own money is maintained in a completely different account. This means your money is safe and separated according to the industry standards.
Now, you have to keep in mind that I am only telling you about Redrock500. This broker is going to maintain this standard for you. However, even if you are signing up with some other broker, you will still have to find this information out. You have to make sure that the broker you are signing up with is telling you that the money you deposit will be maintained in segregated accounts.
· Stocks and Cryptocurrencies
When it comes to the flexibility of trading, you have to make sure that the broker you sign up with is providing you with all the options that make trading lucrative. So, the first thing that you will notice when you sign up with a broker is the number of assets that you will get access to. I have to tell you as someone who has been trading for a long time that you want more and more assets available to you. This allows you to experiment and also find out the assets that match your trading style. Not every asset in the market will suit your trading style and you will find that out in some time after you start trading.
I love the fact that this broker has provided its traders with all the great options that allow them to trade securely.So, whether you are interested in the latest markets or the conventional assets, you will get them all available to you when you sign up with this broker. Do you want to trade the assets of the best companies of the world? If yes, you will not have to go anywhere since you will find a variety of stocks available to you when you are a trader with Redrock500. However, what I admire more about the broker is that it provides you with the latest cryptocurrency market for trading crypto assets.
Digital currencies have been becoming popular for the past decade. More and more people around the world are realizing the importance they hold in the current economy of the world and what’s to come. You will notice that the broker is providing you with all the amazing cryptocurrencies for trading that you can think about trading. Of course, you don’t want to trade all the digital currencies out there because not all of them are here to stay forever. However, the ones that are stable and considered safe in the future are available for trading with this broker.
You will see that you are trading not only the biggest cryptocurrencies that you can get your hands on, such as Bitcoin and Ethereum, but you will also be trading other stable cryptocurrencies like Ripple, Litecoin, Dash, and many more. You will not get access to these cryptocurrencies with every online broker. However, this broker will provide you with not only cryptocurrencies for trading, but also some great leverages that you can use for increasing the sizes of your profits. Let’s talk about some flexibility of trading now.
· Flexibility in Leverages and Spreads
The biggest challenge that you will face when you sign up with online brokers is that they do not always provide you with the best trading conditions. They promise a lot of things when you have not signed up with them. However, after spending your money, you realize that you will not be trading in the best trading conditions. When you don’t have the best trading conditions, you end up making no profits at all. You spend your energies on trading more and more, but what do you get out of all that struggle? Absolutely nothing! Why? Because the broker is not providing you with enough leverage and breathing room to make a lot of money.
How can you make a lot of money when you sign up with this broker? The first thing that you will notice with Redrock500 is that this broker has provided you with the most competitive spreads in the industry.It is these spreads that help brokers make money. Now, if there is a broker that wants to make a lot of money, it will definitely write some loose spreads in its trading account information. However, you will notice something completely different about this broker. Redrock500, I have found out, is a broker that is not interested in making money at the expense of its traders.
This broker has provided you with a trading platform where you can trade flexibly. First of all, your spreads are starting from only 1pip. That’s something you will be surprised about because you don’t find many other brokers that have such tight spreads. They talk about tight spreads, but when you look at the information about spreads on their trading platforms, you don’t find something even close to the spreads of 1pip from this broker. Here, I would like you to know that you will not be getting this particular spread on every trade. You have this option on some assets.
However, the overall spreads from this broker are very competitive in the industry. In addition to that, you will notice that the broker is providing you with some really impressive leverages as well. Why does a broker provide you with leverage? Well, this is the way for the broker to help you with your trades. There are some traders whose size is so big that you can’t enter them with the amount that you have in your account. So, what do you do in that particular scenario? Well, what you do is that you get leverage from the broker. Now, the only thing you have to look at is the size of the leverage.
I can tell you from my personal experience of testing many brokers out there that the leverage you are getting from Redrock500 is one of the best you can get in the online trading industry. In most cases, you have brokers who limit their leverages from 1:50 to 1:200. There are some brokers that provide you with leverages of 1:400. There are very rare traders that go up to 1:500. However, this broker will provide you with leverages of 1:1000. Based on the account you sign up with, you can get even more leverage.
· Customer Support
There is something that impresses me about online brokers even if there are a few areas in which they are not that strong. That something is nothing other than customer support. I have to tell you that there are some brokers that can make up for the lacking they have in other areas with great customer support. Customer support is the most important thing in this particular industry because most of the traders that are signing up with the broker are coming from various backgrounds, ethnicities, and countries. These traders have different requirements and issues that the broker has to deal with.
So, the broker has to make sure that its customer support is good enough to handle the hundreds of different queries that come from many traders from around the world. The first thing that I find different about the customer support from this broker is that you will be getting the help you need 24/5. That’s something I have been looking for since I started trading, but there are very few brokers that go to the extent of providing this level of customer support to their traders.
There is another trend that has somewhat made me mad. I am saying mad because I don’t find this particular feature to be the best way for serving the customers. Yes, having an FAQs section on the website is a great way to answer the most commonly asked questions, but this feature alone should not be considered complete customer support. There are many ways for brokers to help their traders, but some brokers just do not care about the concerns their traders have.
Let me tell you here that you will have no complaints about the customer support that you are getting from this broker when you are a trader on its trading platform. I have already told you that the customer support professionals will be there to help you with your concerns 24/5. In addition to that, you will also be getting all the support through email. If you wish to talk to someone to get help with your concerns, you don’t have to return disappointed. The broker has provided you with a phone number on the website that you can use to get in touch with the company to get help.
· Web-Based Trading Software
Can you disregard the importance of a trading platform when you sign up with an online broker and start trading? There are many things that you have to consider before you are finally ready to give an online broker the chance to win your business. I have to say that the trading platform that you are provided by the broker is one of the most important things. Here is something I want to tell you. The broker you sign up with can provide you with a trading platform that you have to download, install, and use on every single device that you own.
Think about a trading platform that you get from other brokers. If you use a computer a lot, you will download the trading platform on your computer and then use it on your computer frequently. But what if you were interested in trading on the same trading platform on your smartphone as well? Can you do that? No, you can’t do that with a software that you have downloaded on your device. If you want to use the trading platform on your smartphone, you will have to download it again and then use it. Now, the settings that you had saved on your desktop computer might not even be available to you on your smartphone.
Again, if you have just bought a tablet and want to use the trading platform on this tablet, you can’t do that unless you download the software on your tablet again. That’s something you will find quite annoying. You have to make sure that you sign up with a broker that makes things easy for you. You can use all these different versions of the software on many devices, but you will never have a uniform experience of trading on them. That’s where I think Redrock500 has come up with the best solution. It has provided its traders with the web-based trading platform.
This web-based trading platform is accessible to you like any other website on the internet. What do you do when you have to open a website? Think about opening YouTube or Facebook on your device. You don’t have to download these applications if you don’t want to. You can just use them on the web as well. That’s what you will be doing on the trading platform from this broker as well. First of all, you will not have to download the trading platform at all. Secondly, you will be using this trading platform on all your devices at the same time.
You will not lose the settings you have on your platform because you will be using the same thing from all the devices. The trading platform is saved on the server of the broker, so whichever device you use, you will be on the same trading platform. Now, you can use the same trading platform even if you are on the other side of the world. You just need your device, an internet connection, and one of the major browsers that you already have on your devices.
· Lots of Trading Accounts
Is it really something that I should mention that the broker provides you with a lot of different options for trading accounts? Well, I think it is the most important thing to mention if I want you to know about the broker that you are about to sign up with. So, is the broker really caring about its traders? If there is a feature that can tell you a lot about the broker, it is the trading accounts that you have available. If the broker does not care about your financial condition and limitations, it will ask you to deposit a lot of money in your account no matter which account you sign up with. Or perhaps, the broker will only have a couple of trading accounts that you can sign up with.
What if you don’t have a lot of money and you still want to trade? Well, when you are with a broker like Redrock500, I can say for sure that you will not have to worry about that option. The broker has provided you with some great trading account options. You have three different account types that you can choose from. If you go with the basic account, you can start in the trading world at just $250.
I have seen a lot of brokers since I am always researching them on the internet for you guys. I want you to sign up with a broker that you will not regret signing up with later. I think that the features from this broker are potential enough to make it one of the best in the world. You can visit the website of the broker for more information so you can make up your mind and take the trading decision with proper confidence.