To successfully invest in financial or stock exchanges, you will need to master technical analysis at least at an initial level. Understanding the algorithm of the market provides a large number of prospects. However, the process may be greatly simplified by using trading platforms.
What is a trading platform? Some novice traders confuse the concept of a trading platform with a trading strategy. These are two different concepts. A strategy is needed to analyze the market, identify entry and exit points to a deal, and limit risks. A trading site is a set of electronic tools that connect the trader to the exchange. Essentially a program or web interface.
The main criteria for choosing a broker
The financial success of investment activities largely depends on the broker. The investment company carries out securities operations on its own or behalf of the client at his expense. Here are the main characteristics to make the best choice.
- The size of the amounts to be operated on. For low turnovers, a discount is suitable. For impressive turnovers, a full-cycle broker is better suited.
- Commission remuneration. On average, the commission that should be paid for brokerage services is 0.01–0.3% of the transaction amount; it depends on the specific intermediary.
- Broker access to various apps. Choose a broker that is a member of the section where you plan to invest, then the commission and order processing time will be minimal.
A prospective investor should also consider the transparency of the company’s financial activities and management staff, its exchange activity, and the possibility of insuring its funds.
Brokers’ commissions. There are many different ways to calculate brokers’ commissions. It is recommended that a futures trader on the exchange thoroughly study them all; this will help determine the most profitable tariff plan.
- The spread is the difference between buying and selling an asset. The spread depends on liquidity; the more the asset is in demand, the lower the spread;
- The fee for a lot is a% from each transaction;
- Swap commission the right to transfer a transaction to the next day;
- Withdrawal fees and other types.
Brokers’ commissions may be a fixed amount or calculated about a specific indicator.
When choosing an app, it is also important to consider:
- the reputation of the company and the period of its activity;
- indicators of exchange activity total turnover for a certain period;
- number of registered users;
- a variety of services provided and the presence of several tariff plans;
- whether it has its depository or whether the company uses the services of an independent one;
- quality and availability of analytical information;
- level of technical support.
Review Binany broker
Most platforms may be customized to suit your needs. In
- indicators, and so on.
Clients of this site connect to the exchange through the servers, which check the end trader’s application to an operation. If it complies with the established rules, the application is sent to the exchange.
You can give an investment order by phone or email. This mode is provided for most brokers. But basically, this happens through the trading sites, special programs through which the trader’s trade takes place.
Online trading at Binany review:
- You can invest through a browser on our website or install the application on your phone.
- An intuitive interface will help you invest.
- 24/7 support will be happy to answer all your questions.
The main functions of the terminal:
- Placing orders on the exchange. Invest operations (buy, sell), stop orders, take profits, iceberg orders, etc.
- Maintaining a client portfolio.
- Charts, technical analysis.
Here you may also find out foreign exchange reviews and read about news in the field of investment.
How do I get started with Binany?
Before you get started, you need to do a Binany trader review, inquire about the bonuses and the platform’s legality. You must be 18 years of age or older to start trading on Binany. Then you can download the application or register directly on the website. After registration:
- Learn. Even if you already have an account, remember to set aside time for training every day.
- Trade currencies. The site contains more than 250 instruments for trading with a minimum deposit.
- Learn strategies. You can develop your strategy or trade with the trend.
You may also read the reviews on Binany com to understand other users’ experiences better.
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