When a person’s income allows not only leisurely spending, but also a chance to save up, the question arises: how does one manage his or her funds in such a way that inflation does not gobble them up? There are many options for investing and one of them is through engagement in the Forex market. Traders who have been involved in international trading for years have achieved significant success. Many of them have become experts and have done well to pass on their experience to beginners.
One of the most common questions newbies in the market ask is how not to run into a scammer and choose a reliable brokerage company. It is no secret that there is a large number of websites created specifically to publish content regarding brokerage companies who are allegedly involved in fraudulent activities. Reliable trading authorities or organisations are also subjected to scrutiny; they are accused of scam or other untoward trading activity. However, given their reputation, they are not likely to fall to bankruptcy.
It would do the trader well to do research. It is necessary to study the brokerage company’s history with great vigour. One should do actual legwork by contacting the company’s representatives directly. It would also be of help of one is to look into the opinions of financial analysts.
It must be said that foreign exchange markets are regulated strictly. If a brokerage company tends to raise red flags, then one should pay attention to trader experience in the international scene. There are many Forex brokers who are proven to be legitimate an example of these are MaxiTrade, Saxo Bank, and OANDA.
Successful work of international brokerage companies with traders
MaxiTrade, Saxo Bank, and OANDA have been registered across different jurisdictions, possess the relevant documents, and have been operating in the Forex market for many years.
OANDA was established in the 90s. For several decades its activities have expanded, new divisions were opened across the globe. Its license from regulators of repute speaks of OANDA’s reliability.
The company provides customers with fundamental and technical analysis and has several trading platforms. Among OANDA’s financial advantages are low spreads, individual pricing for all premium accounts, no commissions, and no minimum deposit. It presents a wide range of over 100 trading instruments including currency pairs, commodities, indices, bonds and precious metals. In its pursuit to help its user better their trading judgement OANDA conducts training for traders through regular webinars.
In addition, users are also availed of various contact options.
Saxo Bank has been operating for a good 25 years. It had willingly submitted itself to stringent legal requirements in more than 10 jurisdictions. Saxo Bank’s choice of trading instruments is quite large and diverse. In addition to currency pairs, traders can trade CFD-contracts, securities, commodities, futures, and ETF-funds.
Worthy of note, Saxo Bank’s expert support is a round the clock operation stretching from Monday to Friday. Personal account managers, professional consultants, and analysts are always ready to assist traders. They carry a vast experience and can tell you how to distinguish a fraudster and a scam from a law-abiding organisation.
The company is proud of its trading platforms SaxoTraderGO and SaxoTraderPRO. Also, Saxo Bank has a high threshold of entry. The company offers 3 types of accounts – “Classic”, “Platinum”, and VIP. For the Classic account, you are required of an initial deposit of $10,000.00. With Platinum, you should be able to produce at least $200,000.00. For VIPs, the initial deposit starts from $1,000,000.00.
What are the advantages of MaxiTrade?
The brokerage company, MaxiTrade has less experience in comparison to Saxo Bank and OANDA, as it was only established in 2008. One can read a number of allegations against MaxiTrade. Treading along the lines of scam and fraudulent activities, some have claimed of losing all their money, thus claiming bankruptcy. In this case, unfair competition plays a role. However, the majority of traders who are clients of MaxiTrade speak positively of its work.
The website which provides exhaustive information draws attention to itself. Based on the number of trading instruments, the company is not inferior to competitors and even surpasses them. You can trade currency pairs, securities, indices, commodities, precious metals. To open an account, the client must have $500. The company offers low spreads, which allow working almost without loss, a very convenient system of account replenishment and withdrawal of funds, and no commissions.
MaxiTrade has its own trading platform that is compatible with any computer. Its user-friendly interface allows you to work without any difficulties. The reviews speak of its speedy operation, the instant execution of orders, and the provision of reports on online transactions. To guide traders through challenging instances, MaxiTrade’s personal advisers are available round the clock.
The company offers a wide range of analytical materials. This is the company’s advantage over its competitors. Traders can familiarise themselves with 2 types of Forex forecasts: the daily forecast and the weekly forecast, both with detailed analytics. In the section, “Economic Calendar”, there is information about crucial events in world markets and their impact on Forex. MaxiTrade’s Autochartist technology allows search engines to constantly monitor a huge number of financial instruments. Catered to traders, there are various promotions and bonus programs.
Critical and experienced traders have long understood that one should not pay attention to various accusations such as a fraud or scam. When a company takes serious steps to build itself up, it will always prevail from bankruptcy. Such confidence is based on the fact that the number of traders working with MaxiTrade continue to grow.