Online trading has seen an increase in use in 2020 as more people choose the practice as a means of increasing their passive income. Dany Mawas, Regional Director for INFINOX (www.INFINOX.com), presents eight tips that operators should consider to be successful.
The economic uncertainty brought on by Covid-19, coupled with the rise of the digital world, has sparked an influx of Africans who start trading online as a means of supplementing their income. However, many may not necessarily have the experience and support to trade effectively.
Dany Mawas, Regional Director of INFINOX, a globally recognized and award-winning FX and CFD broker, explains that while the forex market has gained formidable traction globally in recent years, there is a growing need for traders to receive the right support and tools to succeed. As such, it highlights a few criteria that traders need to consider when choosing an online trading broker.
Regulations and licenses are key
All respected and trusted financial service providers and brokers are licensed to operate in the respective country in which they operate. This protects traders from illegitimate brokers and scams. Obtaining a license to operate in a respective country means that the broker must comply with the various regulations established by the authority.
Therefore, traders should only trade with brokers that are recognized, registered and regulated by well-established authorities, such as the South African Financial Sector Conduct Authority (FSCA) and the United Kingdom Financial Conduct Authority (FCA), amongst others. others in different regions of the world. .
Offer of insurance funds and segregated clients
It is important to partner with brokers who segregate client funds from operating funds and other forms of investment. This provides traders with the peace of mind of knowing that their funds are safe and secure. Also, while regulators protect all traders up to a certain level, brokers must have an insurance policy in place if, for example, the brokerage becomes insolvent.
Real-time representation of real life
While the brokerage operates online, companies that have a physical presence in their respective regions or countries demonstrate a commitment to their business, their teams, and ultimately their clients. Local representation is a must to provide merchants with the support they will need to be successful.
Reliable proactive customer service
In addition to having a voice to talk to on the phone, traders require the necessary premium support from their teams of preferred brokers to ensure their success. This means proactive support, with a timely response to telephone and email inquiries. On top of that, leading brokers also offer additional communication channels, including online chat platforms and mobile tools, while ensuring easy-to-understand lines of communication through multilingual support.
A variety of instruments
Not all traders operate in the same markets. As such, traders should seek to partner with brokers that offer a variety of instruments to suit their preferences, such as Forex, CFD Equities (CFD), Indices, Commodities, ETFs, and CFD Futures, among others.
Reliable and secure trading platforms
Two of the most popular trading platforms are MetaTrader 4 and MetaTrader 5, which are designed to provide traders with the tools they need to take advantage of market opportunities safely and reliably.
In addition to the valuable trading platforms, traders should opt for brokers that offer additional features like a social trading platform. Using these platforms allows traders to be part of a trading community, learn from each other, copy the trades of experts, execute from one place, share strategies, and monetize their knowledge.
Perfect deposits and withdrawals
Brokers should offer traders the peace of mind, flexibility, and convenience of being able to easily deposit and withdraw funds through a client portal. This is achieved by partnering with reliable payment providers with low fees and fast transactions. Being able to access your funds at any time you choose is very important.
The brokerage that meets all the requirements
“INFINOX is built on the foundations of integrity, ambition, inspiration and excellence, all of which merchants will experience firsthand when dealing with our proactive support teams,” says Mawas.
Established in 2009, INFINOX is headquartered in London and has representation in more than 15 countries around the world. Licensed by companies such as FSCA, FCA, FSC and SCB, the brokerage has a segregated client funds policy that gives traders the peace of mind of knowing their funds are in safe hands. In addition, INFINOX offers free deposits that can be easily accessed through their customer portal in one day.
“The IX Social app allows traders the opportunity to share knowledge, operations and experiences with like-minded traders, and offers personalized trading signals and strategies from their verified and successful partner-traders,” Mawas concludes.
INFINOX is available in most African countries, including Namibia, Mozambique, Lesotho, Swaziland, Botswana, Tanzania, Zambia, and Ghana.
For more information, visit www.INFINOX.com.
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