With the amount of time I have invested in researching various online brokers, I am confident to say that I am capable of giving sound advice and suggestions to new traders. Picking out the right broker can appear to be scary as you hear many unfamiliar terms and stories of terrible scams ruining people’s lives. But don’t worry, I can assure you that it is not as terrible as it seems. In fact, with the right broker and understanding of the trade, you can earn a hefty income with just a few clicks.
You need to start by checking out the most popular brokers which have received good reviews. But be careful as many of the big claims are made by the firm itself so, don’t believe the things you see without confirming them from a couple more sources. Brokers are like your business partners so you need to be careful when deciding which one you want to put your trust in. Today I will tell you about Coinibank.co, which I consider to be a great broker because of the amazing services it provides the users. The broker caters to the needs of all types of traders, novice or experts.
Now don’t think that I am trying to convince you that this broker one out there, I am just giving you my honest opinion and thoughts about Coinibank. Read ahead to find out all that you need to know about Coinibank in the simplest words.
We all know how annoying overly long and complicated registration processes can be. It is one of the main factors that drive new users away from a website. Signing-up with the broker means that you are committing to opening an account with them. The thing that differentiates broker websites from other websites that require registration is that to open an account with the broker, you need to deposit an amount. Kind of like how you open a bank account. So, you need to keep an eye on the deposit money the broker asks for. I will not suggest you sign-up with a broker if they ask for huge sums for account starting deposits because you will need money to purchase and sell assets as well.
Many brokers claim to provide trader-friendly environments but when a trader wants to create an account with them they are asked to pay a deposit fee of, say, $1500. While this may not be a huge amount to some, you have to remember that this amount may be a huge gamble for new traders who have no experience in the business and are prone to losses initially. The trading platform of Coinibank is renowned for its convenient fee charges on any deposits, withdrawals or, transactions. With this broker, you do not have to worry about paying a large sum as a deposit. The deposit fee that you have to pay for creating an account with this broker is just $100. I have not yet come across a broker, which is so widely recognized, to provide such an affordable deposit rate.
Trading is an investment gamble that requires constant deposits and withdraws of money from your accounts. To prevent any illegal activities and keep the system running, specific fees are set. You must use the same bank account to deposit funds into your trading account. Your bank account should be in the country of your residence and in your name. This is a precautionary step to avoid identity thefts and scams. Coinibank will deduct 10% from your deposit if you are not active on your account. For withdrawals, you need to use the same bank account as the one your credit/debit cards are registered to. Remember that you can only withdraw amounts in the currency of your deposit. This is done to prevent people from taking advantage of different currency rates to gain unlawful profit. The minimum amount for deposits and withdrawals id $250. A transaction fee of $50 will be charged when depositing or withdrawing the minimum amount.
Trading education is very important for traders as the occupation requires them to understand graphs and statistics, stock costs, etc. Before you venture into the trading business, you need to develop an understanding of what it means to trade, what are the numbers and figures that you will come across means. So, before signing up with a broker, you need to make sure that you have gathered substantial background information as a trader. Although I know that without proper guidelines, it is difficult to find what you need to know online. I was pleasantly surprised to find that Coinibank provide users with a learning guide themselves to help them understand the concepts of trading. The trading guide tells you about the risks of trading, explains currency pairs, lots, pips, leverages, and various other terms with comprehensible examples and tables.
As you know that many firms make big claims about what they offer without any supporting evidence; Coinibank has designed a separate page for the advantages you will enjoy by choosing it as your broker. I find it to be really useful as it can be difficult to identify the advantages of a broker just by looking at its website. By doing this, Coinibank has clarified the benefits that you will get so you have a clear idea of what you are getting yourself into. Some of the benefits that they have mentioned include low threshold trading conditions, high level of online support, simple and intuitive trading platform, and trust and security.
So, what do you think? I find Coinibank to be a user-friendly trading platform that provides users with many benefits. Like I said earlier, I am very happy with the services this broker provides. I have presented my case to you. The final decision is yours, after all, you will be investing a good amount of money if you choose to sign-up with this broker. You are, of course, free to look into other brokers, however, I would suggest you consider Coinibank as a potential candidate as I believe that it is possibly one of the best service providing broker out there that lives up to the big claims it makes.