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Online Trading: What to look for in a Broker

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Public participation in online trading has accelerated at unprecedented levels in 2020. This is the view of Dany Mawas, Regional Director at INFINOX (www.INFINOX.com), a leading CFD trading broker with international presence and market expertise, who explains that he, along with other heavyweights in the industry, Oakhaven Capital, believe that this trend comes as a result of new paradigm thinking in the industry. This includes the support of markets by Federal Reserve Banks (FED), the understanding that the FED and all Developed Market (DM) central banks will keep rates low indefinitely, the belief that cryptocurrencies are the future, and the inevitable decline of the dollar.

Mawas adds that it is important for traders to consider that history is full of examples of new paradigms that more often than not self-implode. “As such, it is vital for traders to ensure they have the right broker, who will empower them to make the best decisions and be there for them when needed.”

“Over the past five years that I have been working in the African region, I have noticed that many beginner traders are only interested in whether welcome or starting bonuses are offered,” he says. “As a result, the majority of brokers operating in Africa are attracting clients by almost exclusively marketing their ‘welcome bonuses’ without being able to deliver the necessary support to their clients.”

It is for this reason that when potential traders are looking for an online trading brokerage partner, it is crucial to consider all the trading services offered by the broker. Along with this, the quality of the broker’s services and its commercials (i.e. trading costs) are what should matter most.

To assist traders in finding the best broker to meet and exceed their needs, and to ensure they are empowered when it comes to online trading, Mawas lists the following pointers to consider:

Education is key: The concept of online trading has always painted a glamorous picture of people being able to easily make money simply by following a few trading rules. However, it is important to note that this is not the case and like any job from any industry, trading is not for everyone. To be successful in trading, it is essential to educate yourself and have enough time on your hands to optimise your chances of success. This is where excellent customer care and great trading services, such as education portals provided by the broker, are important elements to consider especially for those new to the industry.

Is your broker easy to contact: If you are currently trading and have some doubts about your current broker, take a moment to consider how easy it is to contact them by phone and how long they take to reply to an email. While it may be nice to receive a starting bonus, the future success in trading lies in fostering a reliable and safe trading environment. Your broker should supply you with all the necessary assistance and trading tools required for long-term profitability. 

At INFINOX, premium customer support and excellence are core company values. As per INFINOX’s latest internal study, it takes the company up to 10 seconds to return a phone call and less than 20 minutes to reply to a client inquiry via email. This is of particular importance given the current global pandemic, and making sure that you can contact your broker in record time is crucial for trading success and peace of mind.

Are the trading platforms offered free and reliable: One should look for brokers that offer access to free and reliable trading platforms across both mobile and desktop that give you access to Forex, Stocks, Crypto, Indices, Commodities, Futures and ETFs. At INFINOX we offer MT4, MT5, and IX Social – an app which gives you access to an exclusive community made of signal providers, trading strategy providers and traders. The app itself allows you to follow sophisticated traders and top performers, learn from them, interact with them and directly trade from the app. Other services include chart pattern recognition services, starting and new deposits bonuses, VPS, free use of EAs and Algos, and premium customer services including excellent client support, fast withdrawals and proactive support teams.

Future financial prosperity in these digitally-driven times lies in online trading, and by partnering with the right brokerage, traders can be assured that their best interests are at the forefront of the relationship, every time. And at INFINOX we do just that and more,” concludes Mawas.

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