FinuTrade Review – Top Reasons to Sign up with this Broker
If you are on the lookout for a good and dependable broker, there will come a point that you will end up checking out FinuTrade. You can check out this detailed FinuTrade review to know what kind of trading services it delivers.
Even if you don’t have a background or experience in the world of finance, you have probably heard of the different financial markets. At some point, you will hear discussions or news regarding the stock market, the forex market or others. More recently, it is the cryptocurrency market that has been making the headlines and most people have heard about it, even if they don’t have a clear understanding. No matter which market it may be, there is one thing that comes through; there is clearly a lot of money to be made in this space and this has piqued the curiosity of many.
After the global COVID-19 pandemic resulted in financial problems for the masses, the financial markets experienced a rise in traffic, as people turned towards them for earning profits via trading and generating returns on their investment. The best thing about this space is that it has become easier than ever for people to jump the bandwagon and it is all because of the technological advancement that has taken place in the 21st century. That’s when online trading emerged and it has become one of the biggest trends to have existed.
Previously, where people could only dream about making it big in the financial markets because of the barriers to entry and the high capital requirements, they were able to accomplish all of this and more with online trading. Millions of people all over the globe have tried their luck in the financial markets and many of them have succeeded in achieving their goals. Yes, not all of them are success stories and some had to suffer from heavy losses as well. There were several reasons behind it, but the most notable of them all was their choice of a broker.
When you are planning to start online trading, the services of a broker will be required. It is imperative that people understand how important a broker is to the overall trading process and not choose a random one. An online broker not only provides you the trading platform you require for connecting to the financial markets and executing the trades, but also comes with trading tools and most importantly, it offers the trading conditions that have a direct impact on your profits. The fees, commission, spreads and leverage of your selected broker can make a huge difference.
Likewise, if the company you sign up with creates complications, or offers low quality trading services, a substandard trading platform, or lacks trading tools, you will not be able to enjoy the full benefits of trading. It should also be noted that the online trading space is also plagued with scam and fraudulent brokers that are looking to swindle people out of their money. In fact, they even steal their personal and confidential data, as it can also be misused for some illegal purpose or the other.
Suffice it to say, you cannot just settle for any online broker nowadays. You have to have good and strong reasons for signing up with a particular one. There are hundreds of these operating in the markets and a little effort on your part initially can prevent a lot of hassle in the long run. One of the brokers you will find is known as FinuTrade, which is located in Mauritius. Despite being relatively new, it has developed a good reputation in the market because it is catering to traders from all walks of life.
But, why should you opt for this broker over the rest? Some of the top reasons for doing so have been highlighted in this FinuTrade review:
|Assets Coverage||Forex currency pairs, Stocks, Cryptocurrencies and Commodities.|
|Trading Tools||Trading Indicators, Economic Calendar, Calculator, Signals, Live Charts, Technical Analysis Tools and Reports, Price Alerts, Market Research, and Risk Management Tools|
|Education and Training||Yes; e-books, online video courses, webinars, seminars, tutorials, latest market news, guides and in-depth research|
|Customer Support||24/5 support via email address, phone number online contact form and an FAQ section|
|Security Policy||KYC (Know Your Customer) and AML (Anti-Money Laundering)|
|Parent Company||FinuTrade Holdings LTD|
Reason 1: Attention to security
From the very beginning, the internet has been plagued with security risks because there is no central authority that governs this space and it also helps people in maintaining anonymity. Due to this unregulated and open nature, it rapidly became a hotbed for different types of scams and frauds. Initially, when the public did not have knowledge about these, there were many incidents where people suffered from hefty monetary losses and were not able to do anything about it. To this day, cybercriminals are trying to con people and not just out of their money, but their data as well.
Therefore, people have to be immensely cautious when they are sharing their personal information anywhere, or handing over their money, on the internet. The problem is that you cannot skip this step when you sign up with a brokerage. You want to avail their services for trading financial instruments and to do that, you will be required to invest your money. In the same vein, you will also have to provide some sensitive information for opening an account with them.
This means that online trading can expose you to cybersecurity risks and this is a huge concern for many traders. Some people are so stressed about it that they can barely concentrate on the markets and are unable to make the profits they want. You definitely do not want that and FinuTrade has ensured that its clients will not have to face any such situation. How? They have come up with strong security measures, not just for protecting the money you deposit with them, but also to keep your confidential data safe.
First and foremost, they have used advanced SSL (Secure Socket Layer) encryption on their website, which encrypts every single bit of data. This ensures that no prying eyes can get access to any sensitive data they accumulate from their clients. As far as the deposit are concerned, customer account segregation rules are followed by FinuTrade and this means that they keep your funds in separate accounts. The company’s own funds are not mixed with that of their clients and are only used for trading purposes.
Moreover, they are deposited with reputable financial institutions to add another layer of security and preventing theft. Along with these measures, you will find that FinuTrade also complies with the AML (Anti-Money Laundering) and KYC (Know-Your-Customer) policies. These are security policies that are aimed at minimizing the risk of identity theft, financial fraud, terrorist financing and money laundering. As per these policies, traders are required to provide proof of identity and proof of residency before they can conduct transactions via their account.
Proof of identity means submitting any government-issued identification document, which include a driver’s license, national ID card, or a passport. You need to provide a copy of whatever document you choose, ensuring that your name, picture and date of birth is clearly visible. To verify your residence, you will have to provide FinuTrade with a tax bill, bank statement, or a utility bill, such as gas, water, electricity or land-line phone. It should have your name, address and date of issue and it shouldn’t be older than six months. As long as the information on these documents matches that on your trading account, your account will be verified.
Reason 2: Access to numerous markets
Your search for a broker begins because you want to trade in the various financial markets in order to make money. There are hundreds of thousands of instruments that can be traded across different markets and their profit potential varies, according to their volatility. The risk of trading these instruments also depends on their volatility and you obviously need to select instruments according to your profit expectations and the risks you are willing to take. For instance, those who have a low risk tolerance would prefer to trade in markets with low volatility, whereas those who want high profits and are open to taking risks would prefer to trade instruments that are highly volatile.
You need to take your needs into account and then choose a broker accordingly because not all of them will have the same instruments to offer. Every broker creates their own asset index that it provides to its clients and you should take a look to see if they have the instruments you want to trade. None of their other offerings will matter if they are unable to give you access to your preferred markets. In addition, a lot of traders want to access numerous markets because this gives them room to diversify their portfolio.
Diversification is one of the top strategies that people can use for minimizing the risks inherent in trading and maximizing their returns. Yes, you could sign up with different brokerages for trading different instruments, but this is too much of a hassle and it will divide your concentration. You will eventually end up missing out on opportunities, and even suffer losses because you won’t be able to open or close a position in a timely manner. This is where you will find FinuTrade to be an appealing choice because of the wide range of instruments they offer to their clients.
Who doesn’t want access to more than 3,000 financial markets? With such a huge range of options at your disposal, you will be able to diversify and earn maximum returns. A closer look will reveal that FinuTrade has chosen to add the top assets of the world’s most reputable financial markets. These include:
Forex: If there is one financial market that has always been known for its high volatility, hence its potential, is the forex currency market. It has a daily trading volume of a whopping $5 trillion, which is an excellent indication of how much attention it attracts. You can trade both major and minor currency pairs at FinuTrade and these include EUR/USD, AUD/NZD, GBP/JPY, EUR/GBP, USD/CHF and GBP/USD.
Stock: Another financial market that is well-recognized by people all over the world is the stock market. Here you trade shares of some of the biggest and profitable companies across the globe. Amazon, Spotify, Apple, Fiat, Coca Cola and AT&T are just some of the options FinuTrade has to offer.
Commodities: No matter what kind of commodities you decide to trade, whether they are soft commodities or hard commodities, they can give you stable returns and are very low risk. Agricultural products, such as corn, coffee, wheat and rice, are known as soft commodities. Hard commodities are also available at FinuTrade and these include precious metals like gold, silver, platinum and palladium. You can also choose from energy commodities, such as natural gas and crude oil.
Cryptocurrencies: One of the most recent and biggest additions that have been made by FinuTrade to its asset index is that of cryptocurrencies. These digital currencies have taken the world by a storm and many people have profited from this market. You can trade some of the top options here, including Bitcoin, Bitcoin Cash, Litecoin, Ethereum and Ripple.
Reason 3: AI-Powered trading platform
A broker’s job is to not just provide you with the instruments you need for trading; they also provide the software you need for trading them. How else will you be able to access the markets? This is what the trading platform is for, as you will be able to use it to connect to your chosen markets and open and close positions. Other than trade execution, it is also responsible for providing access to trading tools that can be used for making your trading decisions. The trading platform provided to you by brokers can vary, as it is at the discretion of the company to decide what they want to offer to their clients.
Traders need to be aware of what kind of trading platform will be provided to them because it can simplify or complicate your trading journey. If the platform lacks tools or is outdated, you will not be able to explore the potential of the financial markets in the best possible way and this can stand in the way of achieving your goals. Many traders end up switching brokerages because they are not satisfied with the trading platform provided to them. As this can be a time consuming and stressful process, you should check it out beforehand.
The trading platform that you come across at FinuTrade will fit any trader’s requirement, whether they are amateurs who have just entered the financial markets, or are expert traders who have significant experience under their belt. The most notable feature of the platform is that it is AI-powered and web based, which means it doesn’t have to be downloaded or installed anywhere. The platform has to be accessed via the browser and this can provide traders with a lot of flexibility. Why? It can be accessed on any device that supports a browser and this makes it easy to use.
You can use it on your desktop, or mobile devices like tablets and smartphones. Traders will be able to check into their trading account from anywhere, allowing them to stay up-to-date and make timely decisions. The modern technology used by FinuTrade allows traders to enjoy fast trade execution and they can also get personalized trading insights that can help them in making the right decisions. The intuitive is user-friendly, so traders will be able to use it without having to worry about a learning curve.
Moving on, the trading platform has also been equipped by FinuTrade with some of the top trading tools that can be found in the market. The platform has a hedging mode that can be incredibly useful and it provides price alerts and regular live updates for more than 3,000 markets. You will also be able to take full advantage of risk management tools, including different order types, analytics tools, tech indicators and advanced charts and graphs.
Reason 4: Easy account opening process
When you want to use any broker’s services, you have to open an account with them. This is expected of any online platform or service, but the process is not the same everywhere. The requirements, steps and procedures can be different and you should be aware of them in order to see if you can fulfill them. Sometimes the process is very complex and time consuming and many traders end up abandoning it halfway. In other cases, the requirements are excessive and this can end up frustrating people, or they may not be able to fulfill them. No one wants to have to fill out countless forms, sign contracts, or have to wait for approval.
You obviously want to get access to the financial markets as quickly as possible and this means you don’t want to waste your time in registration and account opening. This is what you will find when you check out FinuTrade’s process. They allow you to open an account for free and the procedure is very straightforward. You have to visit their website, where you can click on the Open Free Account option and this will open up the registration form. There is only one form and it will not take you longer than five minutes to complete it.
The form asks for very basic details, which include first name, last name, an email address and password, along with your phone number and country of residence. You are also required to agree to the Terms & Conditions outlined on the FinuTrade website. The final step is to confirm that you are 18 and you will be able to register with them right away. There are no other steps you have to take and no other prerequisites that you need to meet. You can then take a look at the account options and choose the one you want to open.
Reason 5: Several banking solutions
Now that you have registered with the broker and selected the account you want to open, it is time for you to make a deposit so you can begin trading. How will you make it? This will depend on the broker because they are the ones that will provide you with the banking solutions that you can use on their platform. These may not be the same everywhere, which means you have to check them out and ensure they are convenient for you and can enable you to deposit and withdraw your funds easily.
The good thing about FinuTrade is that they have added conventional and modern banking solutions on their platform to cater to a wide variety of traders. Those who are security conscious as well as those who want to make quick transactions will be able to find the options that appeal to them. There is the option of bank wire transfer, which takes around seven business days to process, but is extremely secure. There are debit and credit cards that can also be used, such as VISA and MasterCard. Other options that you can use, include e-payment options like Skrill, Neteller and WebMoney.
Both of these options process transactions instantly and this definitely appeals to traders. You can use the same methods for making withdrawals on the FinuTrade platform. All requests that are submitted are approved within 2 business days for the ease of their clients. As long as your account is verified, you will be able to execute your transactions without any problem. Bear in mind that you have to use the same methods for deposits and withdrawals alike.
These are some excellent reasons for you to sign up with FinuTrade when you are looking for a broker to begin your trading journey in the financial markets.