The trading markets have existed for a long time. People have been talking about the foreign currency market and the stock market for years, but most of them consider them too complex. Despite knowing the potential of these markets, people preferred to steer clear because of their complexity. However, there has been a change in stance in the last decade or so because technology has significantly advanced and this has brought about advancement in numerous industries, including trading. Nowadays, hundreds of people who couldn’t even fathom the idea of trading in these markets now have full-fledged trading careers.
Some people are also trading in the financial markets part-time, as a hobby, and this is primarily because these markets have become easily accessible than they were ever before. Millions of people around the world are fascinated by these markets because there are many around the globe who have made their fortunes within them. Both, the forex and stock markets are notorious for helping people in making huge fortunes, but they are not the only markets at your disposal. There are other markets like indices and commodities, and now even cryptocurrencies, where there are a ton of opportunities available.
Therefore, there is a huge influx of traders in the market because people are interested in making high returns, especially in the difficult economic climate. In addition, the trading markets are capable of providing flexibility and there are no such barriers to entry in place. After all, if you want to start trading, you don’t need to have any experience, education or any degree. Most importantly, you don’t need copious amounts of money to become a trader, which means you don’t need to risk all your savings either. So, what is it that you really need to begin?
If you have made up your mind to become a trader, then you need to understand that you have to have a solid broker behind you. They should be able to offer you a trading platform, features, tools and services that are all essential to the trading process. Finding a broker is considered a challenge and it is not because there are not many options available. In fact, it is the complete opposite. The number of brokerages in the market have increased tenfold, which has made it difficult for traders to sort through them to pick one that can be a good choice.
It is not advisable that you pick just any broker that you find because there is no guarantee how they will turn out. Not every broker is able to provide the tools and services you require because there are those that cater to a particular class of traders, such as beginners or experts. You need to know how brokers can be distinguished, as this saves you from having to go through the excruciating process of switching brokers. You don’t have to waste your time and you don’t have to worry about missing out on profitable opportunities either. Consequently, you should do your research beforehand and avoid any inconveniences in the future.
One of the brokers that you will find in the market is TradeFW. It is a forex and CFD broker that was established in May, 2018 by iTrade Global (CY) Limited. The broker is based in Limassol, Cyprus and has a proper license to provide financial services to clients all across Europe. The website is available in numerous languages, which include Italian, Spanish, Dutch, Swedish, German, Russian, Arabic and English of course. You can find a range of instruments to trade, plenty of platform choices and good account options and tools for a well-rounded experience.
These are just some of the claims made by the broker, which you need to verify before you sign up with them. Let’s check TradeFW and see what they offer:
TradeFW at a Glance
|Trading Accounts||Standard, Gold, VIP and Professional|
|Assets Coverage||Forex, Stocks, Indices, Commodities and Cryptocurrencies|
|Trading Tools||Charting and technical analysis tools, trading indicators, price quotes, negative balance protection, risk management tools and Expert Advisors (EAs) for automated trading|
|Education and Training||Yes|
|Customer Support||24/5 customer support via email and phone number|
|Security Policy||AML (Anti-Money Laundering) and KYC (Know your Customer) policies, Investor Compensation Fund (ICF)|
|Parent Company||iTrade Global (CY) Ltd.|
|Regulation||Cyprus Securities and Exchange Commission (CySEC)|
As stated earlier, TradeFW is a forex and CFD (Contracts for Difference) broker, which allows it to provide traders with access to a wide range of trading instruments. The good thing about this kind of trading is that it doesn’t require traders to buy any asset physically. They can just buy and sell contracts based on the assets and make profits from their market movements. Even though the broker is a relatively new one, it has made up for their lack of market experience with their impressive offerings.
There are two different categories of brokers that you can find in the market; regulated and unregulated ones. The former are those who go through the process of obtaining a proper license and register themselves with a regulated body thereby following their rules and standards. The latter, on the other hand, make their own rules and policies and don’t answer to anyone. Consequently, regulated brokers are more reliable and dependable because they will not disappear overnight and can provide you a secure and optimal trading environment.
This is exactly what you will get at TradeFW because this broker is regulated by the Cyprus Securities and Exchange Commission (CySEC). This is one of the most renowned regulatory bodies and firms licensed by them have to comply with some tough measures and policies when providing their services. Due to this regulation, the broker also complies with the MIFID II Directive, which is referred to as the Markets in Financial Instruments Directive that has been designed to promote financial efficiency, ensure consumer protection and promote competition.
As part of its regulatory status, TradeFW complies with the top security policies AML (Anti-Money Laundering) and KYC (Know Your Customer). Traders using the broker’s services are required to provide documents for verifying their identity and their address before they can make any transactions. To give proof of identity, traders are asked to provide a form of government-issued ID, such as passport, National ID card or a driver’s license. Proof of address can be provided via a utility bill like gas, water, electricity and telecomunication or a bank statement.
Regulation by the CySEC also means that TradeFW is a member of the ICF i.e. the Investor Compensation Fund. Being a member of this fund means that the broker is liable to provide compensation to its clients in the case that they are filing for bankruptcy or are unable to continue their operations. The amount of the compensation will depend the claims made by the traders.
TradeFW’s Trading Solutions
After you have ascertained the broker’s regulation status, your next step should be to take a look at their trading solutions. Why do these matter? These are important because these are the software available for trade executions and provide you the features and tools needed for trading efficiently. If the platform is not up to the mark in any way, it can have an adverse impact on the outcome. For instance, if the trading platform breaks down or lags, you will miss out on trading opportunities and it can be frustrating.
Hence, you need innovative and capable trading solutions that give you the freedom and flexibility to trade as you see fit. TradeFW has incorporated the range of MetaTrader 4 platforms for their clients. The MT4 is known as one of the best trading platforms in the market due to its advanced features and technology. It is a favorite of many traders all around the globe and there are different MT4 solutions that you will find with this broker. Take a look at them:
- The MT4 Desktop
This is the most popular trading platform in the world as it provides users with a highly intuitive user interface and superior order execution that cannot be compared with another platform. There is also a range of customizable features that only improve the overall experience. Traders can enjoy one-click trading and take advantage of charting package, analysis tools, pre-installed trading indicators, order execution capabilities, navigator window, multiple order types and multiple chart setup.
- The MT4 WebTrader
If you don’t want a downloadable trading platform, TradeFW has added the MT4 WebTrader to its offerings. It is simple and easy to access, as all you have to do is log onto the broker’s website to use it. No installation or any other software download is required and you don’t have to worry about a learning curve because the platform is pretty straightforward. It also comes with one-click trading, multiple execution modes and trading orders and complete account history access. The platform offers strong data protection, real-time quotes in MarketWatch, chart time-frames and trading indicators.
- The MT4 Android
Modern traders prefer to use modern solutions rather than traditional ones, which means that mobile trading apps have become all the rage. The MT4 mobile app for Android can be used on a smartphone or a tablet, as per your preference. It is a feature-rich app using innovative technology and offering fully customizable layouts. Historical data, one-click trading, advanced charting capabilities, real-time quotes, order execution modes and full trading history are just some of the highlights. You can also trade directly on the charts in the tablet version.
- The MT4 iOS
Similar to Android, the MT4 also provides an app for iOS devices, including iPhone and iPad. This app ensures that you don’t miss any trading opportunity in the market, thanks to its extra-fast execution speed, customizable layouts, automated trading and multiple screens. You can use the intuitive charting package, use any execution mode you like and get real-time quotes as well.
TradeFW’s Asset Index
It is not a good idea to choose any broker without taking a look at their asset index. You should always check what assets will be available to you when you decide to sign up with a broker. This is of the utmost importance if you have a specific trading instrument in mind because there is a possibility that the broker may not offer it to you. Even if you don’t, you should ensure that the broker allows you to diversify your portfolio, as this will let you minimize your risks during trading and balance your profits.
So, how does TradeFW do in this regard? As mentioned earlier, this broker is a CFD broker, which means their asset index is quite diverse. You can find more than 170 financial instruments for trading on their platform and these are from different asset categories. Some of the options you can explore are:
Known as the world’s biggest financial market, the foreign exchange market is brimming with trading opportunities. You can find currency pairs with varying levels of volatility and this gives you complete freedom to choose those that appeal to your risk-tolerance. Some of the currency pairs that TradeFW has added include USD/CAD, USD/JPY, GBP/USD and EUR/USD.
One of the most reliable and consistent markets, commodity trading is a favorable of traders who want to have long-term returns. At TradeFW, you can find commodities that are divided into different categories. There are precious metals that can be traded, such as gold, silver and platinum. You can also trade energies like crude oil and natural gas. Plus, agricultural items like coffee, soybeans, corn and cocoa can also be found.
One of the most prominent trading markets in the world is the stock market, which allows people to buy and sell shares of various companies from different industries. At TradeFW, you can invest in stocks of some of the most renowned companies in the world like Amazon, Google, eBay, Microsoft and Apple. You can also get some unique options like Cannabis stocks, which are rare and not offered by many brokers. Italian stocks like Fiat, ENI and Unicredit are also available on this broker’s platform.
Tracking performance of markets as a whole rather than individual stocks, the indices market is undeniably a lucrative one and can offer good returns to traders who know how to trade in it. If you enjoy taking risks, you can trade indices like FTSE 100, S&P 500, Nasdaq and more via the broker’s platform.
Bitcoin was the first crypto to be introduced in 2009 and it has launched an entire market that now comprises of more than 6,000 coins. Crypto has become one of the most highly demanded assets and so, TradeFW has added some leading options on their platform. These include Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ripple.
TradeFW’s Registration Form
Registering with a broker is also an important part of the trading process because it may not be that simple. Some brokers are notorious for making the procedure too complicated for their clients by asking for detailed and often, unnecessary information that can be frustrating. TradeFW does nothing of that sort and only asks for the most essential information during registration. In addition, they don’t have an approval process for registration requests; you only need to comply with the verification process mentioned in the KYC and AML policies.
A registration form is available on TradeFW’s website when you want to begin. The information you are asked to provide in the form includes:
- First and last name
- Phone number
- Email address
It only takes a few minutes to complete this form. When you have done so, the broker does ask you to confirm that you are at least 18 or above. Otherwise, you will not be able to sign up with them. In addition, you are also requested to confirm that you agree with TradeFW’s Terms & Conditions. These can be found on their website and you can go over them to clear up any confusion you may have about the broker. At this point, the registration process is complete.
TradeFW’s Account Choices
Taking a look at the account choices provided by a broker is also recommended because you want to ensure that you will be able to trade according to your trading style. Some brokers give very limited options that can often frustrate traders or may have tough requirements that are difficult to meet. You want the account to give you useful options and not useless ones that you never use. TradeFW has come up with four account choices for its clients.
This broker is catering to traders from all categories and backgrounds, whether they are beginners, intermediate traders or professionals. Subsequently, they have come up with account choices that are designed for each category of traders. Check out the choices below:
The account choices begin with Standard, the most basic account that TradeFW has to offer and is one that is good for newbies with absolutely no experience or knowledge in the market. With a minimum contract size of 0.01, this account offers traders that start at 2.7 pips. The maximum leverage in this account is 1:30 and it comes with an account manager. You can find 24/5 customer support is also available. Educational resources can also be accessed and the stop out level is 50%.
For beginners and intermediate traders, TradeFW has come up with the Gold account. In this account, the broker has tightened the spreads some more, as they begin at 2 pips. The minimum contract size also changes to 0.05 and all features mentioned in the Standard account are also added here for the convenience of traders.
If you are a skilled and seasoned trader and don’t like the other basic account options, the VIP account at TradeFW is for you. The minimum contract size now begins at 0.1 and the spreads are tight at 1.7 pips, making it quite profitable for traders.
The last account choice that TradeFW has given to its clients is referred to as the Professional account and it is exactly for these traders i.e. professionals and experts. To cater to them, the broker has increased the leverage to up to a whopping 1:500, so they will be able to make big trades without any problems.
TradeFW’s Banking Methods
Every trader is aware that in order to begin trading, they will have to invest some capital. This is usually what you do when you open an account with a broker. You should learn the minimum amount that has to be deposited, but it is also necessary to know how you can deposit it. When it comes to TradeFW, the first thing you need to know is that the broker supports three currencies; Euro, Great Britain Pound and the US dollar. You can use any of these currencies and the minimum deposit to be made is 250. If you are using a different currency, conversion charges are applicable and these will have to be borne by you.
As far as the banking methods are concerned, TradeFW has put together several options for the convenience of the traders. Traditional banking methods include using bank wire transfers or SEPA transfers. If you don’t want to use these, you can try some of the modern options. The broker allows you to use your debit and credit cards and it supports Visa, Maestro and MasterCard. You can also use some of the e-wallets that have become quite common nowadays, such as Neteller and Skrill. Deposits are usually free of charge, but withdrawal charges are applicable, depending on the selected method.
When you opt for a regulated broker that offers you the top trading platform, a great horde of trading instruments, convenient payment methods and plenty of account choices like TradeFW, you can begin your trading journey the right way.