Many people have been contemplating about trading in the financial markets, but only a few of them have ever done anything about it. It is true that these markets are volatile and unpredictable, which means they are not for those who have a low-risk tolerance and want to make consistent and steady profits. But, if you are one of those who enjoy taking big risks because you want to achieve your dreams, these markets provide you with a ton of opportunities that can be used for making millions. This is not something you will come across in anywhere else and is extremely appealing.
But, it should also be noted that there are risks that go hand in hand. Sure, one trade could make you a millionaire, but it can also wipe out your entire investment if it goes the wrong way. This is why a lot of people only contemplate and don’t make the move. Another reason was that previously it wasn’t easy for anyone to just step into the financial markets. A few decades ago, trading involved a lot of complexities, such as requiring greater time, attention and investment. Things have changed over time as the world has gone digital and the internet and technology have brought about a lot of improvements.
Different activities and industries have been altered because of them and one of them is trading. Thanks to the introduction of online trading, the financial markets are now accessible from anywhere and everywhere. They are now at your fingertips and you don’t even need to trade full-time if you don’t feel like it. Online trading has opened up doors for a lot of people and you can trade part-time for supplementing your income, or simply take it on as a hobby. This wasn’t something traders could do before, so it is undoubtedly helpful.
Another perk of online trading is that you don’t even have to invest a huge capital if you are interested in exploring some of the opportunities. You can start with a small amount and even without any experience, knowledge or education. Instead, you can opt to learn as you go, which can help you in gradually mastering the art of trading. Therefore, it is not surprising that many people are now looking towards the trading market to tap into its potential and benefit their own bottom line. If you are also interested in joining this trend, then you should know that you will require the services of an online broker.
They are the ones who help you access the market and open the doors. They were an important element of traditional trading and have remained just as critical in online trading as well. In the last few years, the growth and popularity of online trading has contributed to the increase in the number of brokers that are now offering their services. Checking out a couple of them will make you realize that a lot of them are quite similar in terms of services and offerings, but this doesn’t mean that you go with just any company.
This is no different than when you are looking into purchasing a product or using any other type of service. When you do that, you always do some research and weigh your options carefully before making a decision and the same logic should apply here. After all, you will be relying on this company to keep your personal information safe and handle your funds and you cannot just let anyone do that. Making the wrong choice can put you in a fix and bring your trading journey to an abrupt end. If you don’t want to face such a situation, it is a good idea to ask some important questions of a broker before selecting them for your trading.
This is also applicable in the case of TradeFW, which was founded in May of 2018. It is a European forex and CFD broker that was established by iTrade Global (CY) Ltd, which is based in Limassol, Cyprus. They have gained an impressive reputation, but you still need to do your own diligence before you reach a decision. So, what are the questions to ask about it? Some of the top ones are mentioned as follows:
|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)|
What is TradeFW’s regulatory status?
Whether you are a new trader or someone with experience, you should be aware of the importance of knowing a broker’s regulatory status before you decide to use their services. Regulated brokers are legitimate companies that have been issued a license to provide trading services and they are under the supervision of a regulatory organization. Hence, they are legally obligated to follow a set of guidelines and rules that are set forth by this body. In contrast, unregulated brokers can come up with their own rules and policies, making them highly unreliable because there is no guarantee that your interests will be protected in this situation.
You need to know which category TradeFW falls in before you sign up with them and you will be pleased to see that it falls under the control of the Cyprus Securities and Exchange Commission (CySEC), which is one of the most renowned regulatory bodies in the world. This means that they can promise you fair, transparent and competitive services and don’t have any hidden policies or measures because this would get them disqualified and penalized by CySEC. In the event that you have a dispute with the broker, you can expect CySEC to step in and help solve it.
There are other perks of this regulation as well, such as the automatic membership in the Investor Compensation Fund (ICF), which is very much like insurance for traders. As TradeFW is part of this program, it means that all of its clients will be compensated in case the company files for bankruptcy or has to suspend its services for one reason or another. This can give peace of mind to many traders because you know that your deposits will remain safe and will be returned to you, even if the company shuts down unexpectedly, something that you cannot expect from an unregulated broker.
Can you diversify with TradeFW?
When you are done reassuring yourself about the regulatory status of a broker, it is now time to shift your attention to the next crucial aspect, which means looking at the trading instruments that you will be able to trade via their platform. Asking this question is important for a number of reasons. First and foremost, some traders may want to trade specific assets and they want to ensure those are available. If they are not, they want to have access to profitable options that can give them the returns they are after. Most importantly, traders want to have enough variety that they can diversify their investment portfolio because it is the best way of reducing the risks in trading and maximizing the profits.
The same has to be done in case of TradeFW and when you do take a look at their asset index, you will come to know that there are more than 170 options for you to invest in. They have added CFDs (Contract for Difference), which means that you don’t trade the asset physically and only trade its contract, depending on the market movements. This is a convenient form of trading and provides you access to a better variety of assets. You will be able to choose from a wide array of instruments and some of the prominent ones are:
This market is popular amongst many because it is recognized everywhere for its consistency. TradeFW has added different types of commodities to their platform, like soft and hard ones. The hard commodities typically refer to precious metals like gold, silver, copper and platinum and the soft ones refer to agricultural items like cocoa, coffee, corn, sugar and wheat. You will also be able to trade commodities like Brent crude oil and natural gas.
There are hundreds of opportunities to explore in the largest financial markets in the world i.e. the foreign exchange market. There are major and minor currency pairs to be traded and exotic pairs that are ideally suited to traders who like taking big risks. Some of the currency pairs to be checked out include EUR/USD, USD/JPY, USD/CHF, AUD/NZD, USD/CAD and EUR/GBP.
Another volatile and lucrative asset category that traders can find on TradeFW is that of indices. These deal with the bigger picture, which enables them to offer higher returns. Some of the top indices that you can trade include FTSE 100, DAX, NASDAQ and S&P 500.
One of the most well-known markets in the world is none other than the stock market where people buy and sell shares of some of the most profitable companies. There are plenty of opportunities this market has to offer and stocks of companies like eBay, Apple, Microsoft, Facebook, Google and Amazon can be traded. If Italian stocks appeal to you, ENI, Unicredit and Fiat are some choices. As a matter of fact, TradeFW has also gone a bit different and added cannabis stocks to the mix as well.
Most people have taken a strong interest in trading because of one asset alone; cryptocurrencies. These digital currencies are known for their volatility, which means the big risks can really pay off. Some of the leading crypto options that can be traded here include Bitcoin, Litecoin, Bitcoin Cash, Ethereum and Ripple.
Does TradeFW have any account options?
A trading account has to be opened with a broker when you want to use their trading services and it is the norm to find several account options available, especially on platforms that are targeting traders of different experience levels. While account choices are provided by lots of brokers, it is important to note that there is no established standard or any rules to be followed when developing them. Therefore, the account options provided by different companies will vary. TradeFW also offers its clients with four account choices and they have incorporated unique features and options in each.
But, before you sign up with them, it is best to know the options in order to know if you will be accommodated or not. The four account options are:
Account 1: This is known as the Standard account and it is a very basic one because it is meant for those who are new to the trading space. You are provided with an account manager and dedicated customer support 24/5, both of which can prove to be immensely useful. Educational resources can also be accessed for the same purpose. The minimum contract size is 0.01, the leverage is set at 1:30 and the spreads begin at 2.7 pips. This account also offers support for hedging and Expert Advisors (EAs).
Account 2: The second account that TradeFW has developed is to cater to beginner as well as intermediate traders and is known as Gold. The features of the Standard account are available here, with a few changes. First, the spreads are now adjusted to 2 pips in order to provide more incentive to traders and the minimum contract size is 0.05.
Account 3: Now comes the third account option, which has been created for advanced and experienced traders who know what they are doing. This account has been named VIP due to this reason and the minimum contract size is now 0.1. The spreads for this account are now reduced to 1.7 pips.
Account 4: The fourth and last choice that you will find on TradeFW is known as Professional and this one has been created solely for skilled and professional traders. They get features of all of the three accounts mentioned above and can enjoy a leverage of 1:500, which is the highest offered here, thereby allowing them to increase their trading volume.
How do you deposit and withdraw on TradeFW?
Trading in the financial markets would involve investing some money, which is deposited in your trading account that you open with a broker. At TradeFW, a minimum deposit amount of $250 is applicable in order to start trading, which seems quite reasonable, and you can increase your investment later on. But, before you think about anything else, you first need to figure out how you can add these funds? You have to invest and would later also want to withdraw the profits you earn, so it is best to know what payment methods are provided for this purpose. You will come to know that a multitude of options are provided by TradeFW because their goal is to ensure clients’ convenience.
You can choose to make your deposits on their platform through debit or credit cards, including Maestro, Visa and MasterCard. Powercash and WiroPay are also available, which include SoFort and Trustly. Keeping up with modern trends, TradeFW has added some e-wallets to their payment methods and these include popular ones like Skrill and Neteller. This doesn’t mean that they don’t offer traditional options like bank wire transfers and SEPA, as both are available on the platform. As far as charges are concerned, you can make deposits via any method completely free of cost.
However, it is important to remember that the payment processor itself, whether it is banks, or the online payment solutions, may have their own fee. In regard to processing times of transactions, deposits are usually made instantly, but this can also depend on the payment method you use. TradeFW gives you the same payment options when you want to make a withdrawal. The process of submitting a request is an easy one and the transaction processing time will again depend on the selected method. There are three currencies that are supported by the brokerage; EUR, GBP and USD.
You are free to use other currencies as well, but it should be noted that they will be converted to any of the three mentioned above. This will add some conversion charges to your cost. Likewise, you should bear in mind that TradeFW has different withdrawal charges and minimum withdrawal amounts for every method. All of the relevant information has been added on their website for your ease and you can go over it before you make your final selection.
How do you trade on TradeFW?
One of the most crucial questions that you have to ask about any brokerage is the trading solution they offer. The software provided for trading will affect your overall experience and if it doesn’t function properly or has any other issues, traders can become annoyed very quickly. Moreover, it can result in inability to trade and having to miss out on profitable opportunities. If there are no proper tools, you will not be able to fine-tune your decisions, once more affecting your profitability. Consequently, you should certainly take a look at the trading platform provided by TradeFW.
Rather than developing their own trading platform as some companies are known to do, TradeFW has opted for a safer route by adding the MetaTrader4 platform to their offerings. The preferred platform of the most experienced and leading traders in the world, the MT4 is capable of fulfilling the needs of every broker, regardless of whether they are new to the space or have been trading for years. There are several versions of this trading platform and you will find them available here. To start with, there is the MT4 desktop, which can be downloaded within a couple of minutes.
It is an enriched and innovative trading platform that delivers a powerful trading experience matched by none. TradeFW has added the desktop version for clients who prefer the traditional solution and can benefit from a customizable layout, superior trade execution combined with one-click trading and a very intuitive user-interface. A charting package, analysis tools and trading indicators are also included here. Traders will find different order types and they can also make use of Expert Advisors (EAs) in order to reap the benefits of automated trading.
Along with this option, TradeFW has added Android and iOS MT4 mobile trading apps for the modern and advanced traders. With these apps, you can enjoy a great deal of flexibility because they provide you the ease of trading on the move. You can trade from anytime and anywhere and have complete access to your trading account. Not only are they easy to use, they have been optimized for both ecosystems and integrated with some of the most cutting-edge trading tools that enable you to track and take advantage of even the tiniest market movements. Multiple screens, trading from the charts, variety of orders and graphs are just some of the options.
The last trading solution that you will come across on TradeFW is the MT4 WebTrader, which is simply a web trading platform that doesn’t come with any downloading requirements. Its simplicity doesn’t compromise on functionality because it also boasts a wide array of tools. It can be used on any device that has a browser and it is fully encrypted to provide complete safety to traders. You can enjoy trading indicators and one-click trading. There are charting packages, price alerts given in real time, analysis tools, quick trade execution and multiple time-frames. You can also access your full account history via the platform.
Is TradeFW a smart choice? The last question that you ask is after you have evaluated all features of TradeFW and realized that it offers you the features, tools and services that are needed for a smooth and easy trading experience.