Online Trading Vs Offline Trading
The equity market of the yesteryears involved a long and tiring procedure of sale and purchase. First, the investor needed to telephone the broker, ask details about spreads and commissions and finally settle for a bid in the choice of equity. It was difficult to purchase and sell multiple products at the same time. Then, the physical evidence of sale and purchase was complex and risky enough to carry around at all times. Even a simple sale of equity would involve a cumbersome procedure.
As the world grew more technologically advanced, sale and purchase of equity shifted online. The virtual world offered ease of access to investors with multiple transactions taking place in real time.
Brokerage houses and investment banks started offering tailored online trading platforms. These were customized to cater to the target market every broker wished to get on board. Gradually, online trading platforms started offering more products instead of just stocks. New age digital currencies, also known as crypto, energy CFDs (contract for differences), Forex pairs, commodities and energy CFDs made their way in the online trading world.
A New Player: 500 Markets
500 Markets is an investment brokerage which has entered the virtual trade sphere recently. They are specialists in equity, commodities, foreign exchange pairings and digital currencies.
500 markets have developed two types of platforms for the client to access their trades. These are:
- Their Web Browser platform
- Their iOS and Android Mobile Application.
Types of Trading Accounts
How do we know a broker is best for us? We judge them based on principles of reliability and access ease. 500 Markets has taken these principles on board by offering different types of trading accounts for their clients to suit their own unique needs. .
Equipped with world class technology, 500 Markets offers great value to its clients by offering multiple products to build your custom portfolio.
The Onboarding Process
First: Online Registration
Register on their website and request more details. The customer agents will ensure a call back to discuss your preferences in depth.
Second: Account Opening Procedure
The investor is required to provide:
- Verification of client identity: You can provide any type of government issued ID which contains your date of birth, official signature and legal name.
- Verification of your residence: You can provide a color copy of your electricity, gas bill or even your banking relations letter.
Third: Regulatory Net
Strictly regulated, 500 Markets follows tight guidelines. Compliance with Know Your Client (KYC) parameters mean they verify every client thoroughly with adequate background checks. Customer data security is prime and kept safe via encryption technology (end to end). Ensuring client privacy and data security are never at risk, 500 Markets will never sell data to third parties.
Fourth: Minimum Deposit
A mere $250 is needed to fund your account.
Fifth: When Can You Begin?
Once the verification process comes out clear, the client has full access to their trade account and can begin their portfolio creation immediately.
Pros of 500 Markets
Cons of Trading with 500 Markets
The downside is lack of a feature that stops client loss. Hence, investment is at risk subject to unavoidable circumstances. Hence, the liability of loss always rests with the investor and not the broker.
Also, account opening is a time taking procedure. It takes a long time to verify individual client documentation before you get the go ahead to start your trades.
This is only to ensure that there is no link to terrorism or illegal activities in order to protect all clients. It will seem to be a lengthy delay for some customers joining 500 Markets from other brokerage platforms.
Should You Choose 500 Markets?
Indeed, you should. On the whole, they are complying with the necessary regulations of their jurisdiction. Certain guidelines such as CFT, AML and KYC are adhered to strictly. These are solely to protect client interests in the ever risky world of online trading. The latest and best technology is employed in their trading platform to ensure lightning speeds of trade execution. Two kinds of trading platforms allow the customer to always be able to trade and access their portfolio worldwide.
Customer service availability is ensured 24/7 including technical support. The client is never left without support or assistance. They might be a recent online brokerage, yet they have ensured that they are competitive and following the best practices adopted by the industry.