Online trading on the world’s global financial markets is becoming immensely popular. There are options to trade in Contracts for Difference (CFDs), foreign exchange (FX), exchange traded funds (EFTs), shares, commodities, and indices. Some of these options include buying and selling of cash (foreign exchange) and actual shares, while others options consist of trading on the price movement of the underlying asset within a specified time frame.
Trade offers advice on what to look for in a regulated and trusted broker.
With the advent of the information age and unlimited access to the internet, internet fraud and scams have increased exponentially. I am sure we have all received an email from a Nigerian company offering us millions of US dollars if we give them our bank details. This is only one example of the many different online scams floating around; consequently, we need to be very careful who we entrust with our hard-earned money, especially in the world of online trading.
Trade is one of the world’s largest brokerage firms with a presence in 140 different countries, across 5 continents globally. They take pride in the fact that they are regulated in all of the 140 countries and they continue to work with the worldwide regulatory authorities in order to ensure that their business processes stay within these regulations. This sounds like hard work; however, their end goal is to make trading safer for their clients.
Here are some tips from the Trade specialists on how to determine whether an online trading broker is a regulated and trusted broker or not:
- Peruse discussion forums for feedback from real clients
The online share trading industry is getting more and more competitive so brokers have to keep improving to stay on top of their game. There are also a large number of independent discussion forums where people meet to discuss online share trading and the professionalism of the brokers they have signed up with. After reading a couple of these discussion forums, you will have a good idea of who the top brokerages are.
- Browse through the broker’s website
Any broker worth their salt will display the fact that they are regulated and which regulatory body they are members of. This is not a 100% guarantee that the broker is to be trusted; however it is a start.
- Look at ratings given by current and ex-traders
Traders are usually very vocal when it comes to rating the different brokers they have signed up with. If a brokerage has been given a good rating by a number of traders, then you can rest assured that the broker can be trusted.
Even though Trade is one of the biggest online share trading brokers, they still care about their individual client’s financial well being. Trading on the world’s financial markets is a great way to earn a living, or even extra income; however, traders need to exercise caution when choosing a broker to partner with.