As technological advances ensured the shift of stock markets and trades online, the world wide web started flooding with various online trading platforms. These platforms range from small-sized new entrants to medium-sized brokerage firms, and big sharks dealing with institutional-level trades. These platforms provide access to all types of clients, small, medium, and large. Gone are the days when the stock markets were accessible only to the wealthy. Now, ordinary citizens can access markets and trade, too, with minimal investment. The key question is, what platform is right for you?
We discovered a newcomer that offers competitive rates and a wide range of products: 500 Markets
Who are 500 Markets?
500 Markets are new entrants in the online trading sphere. They have developed an advanced, state-of-the-art trading platform to cater to all types of investors.
They are tightly regulated by the UK’s Joint Laundering Steering Group and the Financial Action Task Force (FATF), thereby adhering strictly to AML and CFT regulations.
To ensure customers always have access to their trading portfolio, 500 Markets has two trading platforms: web-based and mobile application-based.
The Web platform simply requires a browser to log in to your account and it’s compatible with Chrome, Firefox, and Safari browsers.
Their mobile application is available for download compatible with both iOS and Android. Everything available in the web platform is compartmentalized for the mobile application, so all the best features are accessible to the client.
Both platforms are equipped with advanced trading tools and interactive charts to allow for informed decision-making during trades.
What Are The Risks of Choosing 500 Markets?
Since they are still relatively new in the online trading world, they don’t have a STOPLOSS feature yet. This puts the clients’ investment at risk of going negative if the client is not proactively monitoring the market. For example, the recent crash of cryptocurrencies made a lot of investors lose money. All trades come with upsides and downsides. Specifically in a market as complex as digital currencies.
However, 500 Markets has tried to cater to this downside by ensuring a team of technical analysts is always ready to answer any query the investor might have. This allows the investor to make a decision after discussing it in depth and taking the analyst’s opinion into consideration. Its best for investors with minimal experience in trading. Still, developing a STOPLOSS feature is one thing that 500 Markets could improve with time.
Deposits and Withdrawals
Funding your account is simple. 500 Markets accept Visa, MasterCard, Bitcoin, and Wire transfers. Similarly, transferring funds from your trading account back to your personal bank account is a simple process, your money comes to you via automated, instant withdrawals. So your funds are always within reach, and no pesky technicalities to navigate.
Pricing, Commissions, and Spreads
500 Markets offer very attractive pricing plans for all clients. Each investor is catered to depending on the minimum deposit and portfolio. However, they are more expensive for small investors and cheaper for large investors. This is perhaps to encourage clients to grow their wealth with 500 Markets in order to access exclusive pricing plans.
500 Markets offer 24/7 client support. Whether you are struggling with navigating the platform or just have a question in regards to your trades, their technical team is always ready to answer your queries. Their advice is always tailored with the client’s benefit in mind.
Final Verdict: Is 500 Markets the Right Choice For You?
Quite simply, yes they are.
They are most beneficial for small investors wishing to access a wide range of trade products within the same account. Although they seem to be expensive for small size investors, they do offer the option to leverage your portfolio.
Leveraging allows you to grow your wealth and access 500 Markets better pricing plans.
Security of user information is a priority for them, since they are following strict guidelines of regulation, ensuring your data is never sold to third parties.
Similarly, ease of withdrawals allows you to access your money at all times.
Overall, they are a trustworthy platform for your cryptocurrency investments.