When you want to pick the best online broker, you have to evaluate the options on the basis of industry benchmarks. There are certain factors that help you decide whether the broker you are about to sign up with is the right one or not. If you know these benchmarks, you can evaluate any online broker and make the right decision to start your trading career. One of the most popular options for new traders these days is Xtrade. Let’s evaluate this broker based on the top benchmarks of the industry and see if it passes or fails.
Xtrade – Benchmarking to Find the Best
Is It for Modern Traders?
The first thing you expect from today’s brokers is that they should suit the style of modern trading. You do not want to sign up with old brokers with old platforms because even the idea of trading traditionally does not sound appealing. You want a trading platform that you can use without any restrictions of where you are or what device you are using. If your broker forces you to download the trading platform, you might want to try another broker. The best broker in today’s world is one that adjusts according to the changing trends of the industry. In simple words, your broker has to be available where you like to be most of the times.
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When you sign up with Xtrade, you get access to a web-based trading platform. A web-based trading platform means that you can log in to it from anywhere in the world. It does not even matter which device you are holding in your hand. You do not have to tie yourself to the desktop computer to use this platform. You do not even have to have a particular operating system on your phone. Whether you use an iPhone or an Android phone, this trading platform is there for you on all of those operating systems.
More importantly, you will love how fast this trading platform executes your orders. At the same time, everything that you need for trading with confidence is right there on the platform e.g. charts, signals, etc.
Does It Offer Modern Assets?
So, do you get access to the newest financial markets and tradable assets when you sign up with this broker? You have to ask yourself this question. Do you think it is important to be able to trade new assets? Well, if you just have to make money, does it even matter which assets you are using? The reality is that you have to be able to trade in new financial markets for future-proof trading. You do not want to buy assets that you know are going to become obsolete very soon. You do not want to be the last trader on earth holding onto that particular asset.
In this particular case, you would want a trader that offers you access to the cryptocurrency market. Can you trade crypto assets when you sign up with Xtrade? Of course, you can trade them. What you will like even more about this broker is that you can trade a variety of cryptocurrencies on it. You can trade ethereum, bitcoin, litecoin, ripple, monero, and many more.
The cryptocurrency market might be new but it offers you the best returns on your investments. While it can be tricky at times because of the volatility, it is the volatility of this market that lets you make more money than you can with other financial markets.
Is It a Safe Place to Trade?
Safety is the most important benchmark for any online broker. If a broker promises you that the money you deposit in your account will double in just a week but does not offer any security, you would want to stay away from it. You cannot trust a broker that does not care about your information and money. There are certain aspects that you need to look into to find out if the broker you are signing up with is serious with your security. First, you want to know that the money you deposit will go into segregated accounts. With Xtrade, yes, the money that you put into your account goes into segregated accounts.
Does the broker protect your information in any way? Yes, Xtrade protects your information through encryption. Furthermore, you have some strict checks on your identification when you sign up with this broker. What it means is that no fake person can use your personal information to sign up on the platform and trade in your name with your personal information.
Is the Banking Part Easy?
Sometimes, everything else is fine with the broker but you get a bitter taste in your mouth when you talk about banking. Many online brokers promise you a lot of things but fail to offer any convenience when it comes to depositing money in your online trading account. For example, they might require you to give a lot of commissions for sending money into your account. Secondly, they might not offer you the best ways to deposit your money in the account.
You do not have to face any such problems when you sign up with this broker. First of all, you will see that the broker has some great methods for you to deposit your funds. You can use wire transfer method or credit cards to fund your account. Secondly, you do not have to pay any unnecessary or huge commissions on your withdrawals and deposits. Banking is easy with this broker and so is trading.
You do not always find brokers that meet your requirements perfectly. Yes, there might be some downfalls in this particular broker as well, but you can safely say that it comes closest to what traders would call an ideal broker. It offers the best of both worlds and is neck to neck with the best and the oldest brokers on the internet. Trade in a variety of financial markets from the same trading platform that works from anywhere in the world and on any device with Xtrade if you value convenience.