FinexArena Broker Review
There are many things that you need to know when you are new to online trading. The first thing that you need to learn about is how to pick the right broker for you. Nowadays, there is an abundance of brokerage firms available online so it is quite difficult to select just one from so many options.
You need to check if the broker is trustworthy, whether their services match your requirements if you can afford their deposit rates, etc. Still, it might be difficult to choose with the number of options available. You can spend some time researching different brokers and make a list of your top-10 picks. Now, you need to remember to not trust any review you read blindly. You should always test out the described services yourself to see if the broker is legit.
I have been in the online trade industry for a good couple of years now and consider myself capable enough to identify a good broker from a not-so-good one. So, today I want to share my experience with one of the good brokers with you. FinexArena.com is an online brokerage firm that provides many impressive services to traders.
FinexArena Best Features
· CFD Trading
This broker allows CFD trading with its assets. A Contract for Difference (CFD) allows you to invest in contracts for the assets that you are interested in, instead of buying them at full price. This allows you to monitor the price movements of the asset and then bet on the selling prices of the assets. CFDs allow you to participate in more trades at a time as you are not using amounts from your account. So, you have enough liquidity to invest in other trades.
FinexArena provides CFD trading for trade assets of Forex, cryptocurrencies, commodities, indices, and stocks. While CFD allows you to participate in more trades, it comes with a higher risk factor than the other forms of trading. You can use the top trading tools provided by the broker’s platform to monitor the real-time market rates and stay up-to-date with the financial markets.
· Cryptocurrency Trader
Ever since the emergence of Bitcoin in 2009, cryptocurrency trading has become an increasingly competitive market. Now many new cryptocurrencies, such as Litecoin, Ethereum, etc., have emerged and traders are making good profits with their trade.
You must be knowledgeable about trade with cryptocurrencies to experience successful and profitable trades. If you do not know the basics yourself, then no matter how accommodating the broker and the trading platform may be, the success rate of your trades may be low.
FinexArena provides a diverse range of cryptocurrencies so you can enjoy trading with the different types and seek their benefits. This broker provides CFDs for cryptocurrency trading so you can invest in more than one currency at a time and increase chances of profits. The trading platform also aids in smooth cryptocurrency trading by providing real-time stock rates and predictions about the market values.
· Forex Trader
Forex is one of the most liquid markets in the world due to its largescale trade occurring everywhere in the world. Forex trading has evolved tremendously over the years and is a powerful asset that generates substantial amounts of profits every day. Forex is a coined form of foreign exchange so traders basically buy currencies when its price falls and sells or “exchanges” them with other currencies when the market value rises.
Forex trading is done in currency pairs in that only specific pairs of currencies can be exchanged with each other. FinexArena allows the trade of a majority of the currency pairs. The broker provides CFDs for Forex trading which allows you to invest in more than one trade asset at a time since your funds are more liquid. Despite the positive points, traders need to think carefully before investing in any largescale deals as the volatility of the forex market may turn all profits upside down within hours.
With the MT4 trading platform of FinexArena, you are able to get real-time forex rates and can make better decisions based on the intuitions from the statistics. New traders can benefit from the automated trading services provided by the broker.
· Payment Methods
As a trader, you have to make a lot of payments and deposits to continue trading. All of us use different banking methods in our everyday life and prefer to use them during online trade as well. So, if the broker that you have signed up with does not support your favored payment methods, then it can be quite frustrating for you.
At FinexArena you can many payments through several methods. You can use a wire transfer to make payments and transfer funds from your bank account to your broker account. This method takes around 2-15 business days. You can pay using your credit and debit cards, VISA, and MasterCard, where the deposit time is around 30 minutes. For instant payments, you can use FinexArena’s e-wallet services. The minimum amount you can transfer through these methods is 300 USD/EUR. No deposit fees or commissions are charged for deposits.
Easy payment methods are beneficial and a source of ease for traders of all levels.
FinexArena is an online broker that provides many services to its users. They offer user-friendly platforms and various modes of trading to provide users with a wide range of experience. They provide a variety of trading assets for trade and also allow trade using CFDs. In addition to the features that I mentioned above, this broker provides excellent customer service. You can contact them for any query or assistance via their email and phone numbers.
I have shared with you some of the best features of this broker. However, there were many more on my list. You can explore the broker’s website yourself to see whether their services suit your taste or not. My experience with this broker was pleasant and I was satisfied with the quality of service they provided. Now, I cannot force you to select this broker as your trading partner. However, I will urge you to at least look into it thoroughly before moving on to other brokers.