Today, we have a wide range of earning opportunities thanks to the Internet. Even global financial markets are no longer closed for ordinary citizens. Through specialized software, individuals in South Africa may trade currencies and stocks, capitalizing on price dynamics. Access to the marketplace is obtained through brokers, such as ForexTime
Forex trading is impossible without the middleman. A reliable broker will register your account, provide the right software, and make sure you have adequate learning material. But how can you distinguish between trustworthy and suspicious providers?
Ask Google about brokers in South Africa, and you will be inundated with advertisements. Due to the popularity of Forex, websites promoting themselves as brokerage firms may be established by scammers. To avoid Internet fraud, pay attention to the following list of criteria. They highlight the benefits of trading with FXTM.
Proven Success In the Field
FXTM is a world-famous brand rendering Forex trading services on different continents. Established in 2011, it has since helped over 2 million retail clients. Recognition is confirmed by over 25 industry awards.
It Is Licensed and Regulated
A legit broker will be licensed to operate in your local area. This information must be clearly stated on its website. ForexTime is closely monitored by the Federal securities Commission in Mauritius.
Not only is FXTM regulated in several jurisdictions. It also keeps all clients’ funds separate from the corporate capital. This gives yet another level of financial safety.
Attractive Conditions
When assessing any broker, pay attention to such details as spreads, deposit and withdrawal procedures, reward and incentive schemes. FXTM boasts of appealing spreads and effortless transfers. The company regularly comes up with new rewards and incentives to motivate their clients.
Advanced Trading Software
The trading platforms you can download from the FXTM website are MetaTrader 4 and MetaTrader 5. These are the ultimate industry favourites, as they provide everything a retail trader needs. While MT4 is perfect for newbies and currency enthusiasts, MT5 allows you to engage in CFD trading on stocks, commodities, indices, or even cryptocurrencies.
There are numerous graphic aids, such as bars and graphs, which help you make the right decisions. Via the programs, you will be opening and closing positions, analyzing market trends, and monitoring copy trading schemes.
Good Leverage Conditions
Good Leverage ConditionsThis highly useful option will boost your buying power, giving access to volumes exceeding your deposited amount (margin). For instance, if the ratio is 1:100, you may open a position for $10,000 with a mere $100 of real money in your account.
The funds provided by the company increase potential returns. However, this also increases risks. Generous leverage and moderate margin requirements make online trading accessible to millions.
More than Currencies
The sheer number of currency pairs is rich (around six dozen). However, the full range of instruments is much wider. Many retail traders begin with currency exchange and it adopts additional tools. Your portfolio may be expanded with the help of CFDs. A fully digital instrument, it allows a monetary gain based on changes in prices for stocks, commodities, indices and even cryptocurrencies.
A prudent trader seeks to diversify his/her set of financial instruments for a number of reasons. Aside from increasing potential profits, this also hedges risks. For example, when currency pairs begin underperforming, returns on stocks will compensate for the losses.
Support Around the Clock
The customer care team must be easily reachable at any time of day or night. The support staff at FXTM works 24 hours a day on weekdays. All queries are recorded and dealt with as soon as possible. You can always reach them by phone or email.
Two Execution Models
There are two possible models of trading – ECN and market maker. The former (electronic communication network) provides the highest transparency in terms of pricing, as it is not determined by the broker. In this scenario, they receive a commission from any trade regardless of its financial result. FXTM includes both models in their offerings.
Copy Trading Scheme
Finally, copy trading may come in extremely handy. When there is no time for thoughtful trend analysis, delegate the task to professionals. Your strategy manager will execute trades that will be replicated in your account.
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Contributed content
Founder Dinis Guarda
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