In the last few years, there has been an explosion of interest in the global financial markets. This is partly due to the rapid technological advancement that has made digital trading easily accessible for everyone and partly due to the rise in popularity of cryptocurrencies that has drawn people to these markets. It can be safely said that the financial markets are brimming with trading opportunities for everyone and they can provide substantial profits, as long as people are ready to take advantage. There are a number of conveniences and features associated with online trading that have helped people in overcoming their hesitation and the potential of earning solid returns is the cherry on top.
But, no matter which trading instrument you decide to invest in or how much capital you wish to put in, you will be first tasked with finding an online broker to help you. It is important for every aspiring trader to understand that you cannot start your journey without a broker because they will connect you to the financial markets via their trading platform and provide you the features and tools needed throughout your journey to make it easier and profitable. As the popularity of online trading has gone up, the number of brokers has also experienced a surge.
Hundreds of new brokerages have been established in the last few years alone, but finding a secure and authentic broker is paramount. Not every broker in the market will fulfill this criteria and this is something you need to be aware of. There are numerous brokerages in the market that just make big claims and don’t turn out to be half as good. Having to switch brokers can be extremely complicated and time consuming, something you don’t want to handle at any point. Thus, it is best that you make the right choice in the first go.
One of the brokers that are offering their services in the financial market is Finex Arena, established by IBZ Holdings LTD in 2018 and located in Saint Vincent and the Grenadines. It is offering forex trading services in the market, along with a range of CFDs to its clients. Contracts for Difference (CFDs) are products that give traders the opportunity of maximizing profits via market analysis and predictions. They form a contract between a buyer and seller and highlight the movements in an asset’s strike price and its valuation at a specific date.
Overview of FinexArena
|Trading Accounts||Silver, Gold, Platinum and Diamond|
|Assets Coverage||Forex, CFDs on Commodities, Shares, Indices and Cryptocurrencies|
|Trading Tools||Currency Converter, Profit Calculator, Overnight Swaps, Holidays Calendar, Position Calculator and Dividend Calendar|
|Education and Training||Yes|
|Customer Support||Email, Telephone, Web Contact Form and Social Media Channels|
|Security Policy||KYC and AML policies|
|Parent Company||IBZ Holdings Ltd.|
When there was an increase in demand for trading platforms to facilitate trading in the financial markets, FinexArena was established and they have been providing their services in the market for the last 2 years. But, before opting for this broker to begin your trading journey with, you need to ask some important questions about them to ensure they will be a good fit for you. Some of the essential questions that need to be asked are:
Does FinexArena provide a secure trading environment?
The increase in cyberattacks has made safety paramount for every trader. The internet has become a stomping ground for hackers and they steal not just money, but also identities of individuals to use them for illegal activities. When you sign up with any broker, you would obviously share some personal information with them and also deposit money. Therefore, you want to ensure that the broker is capable of protecting your money and information from fraudsters, hackers and other cybercriminals loitering on the internet.
To protect all your sensitive and confidential information from prying eyes, FinexArena has used high-end encryption technology. It encrypts all data as soon as it is entered on their website in order to minimize exposure and to maintain a safe environment. The broker also practices and encourages two-factor authentication (2FA) for keeping accounts of their clients secure. As far as protecting your money is concerned, the broker has opted for account segregation for their clients. This means that accounts of customers and the broker are kept separate, so the funds don’t mix up. Customer funds are only used for trading and are returned to them in case the broker goes bankrupt.
FinexArena is also compliant with two of the most renowned security policies in the world that are KYC and AML. These are recognized as Know Your Customer and Anti-Money Laundering policies. To follow these policies, traders are asked to provide the following documents:
- Proof of identity in the form of national ID card, passport or driver’s license
- Proof of residence by providing a utility bill, bank statement or credit card bill
- Picture of the debit or credit card to be used for making deposits and withdrawals
What assets can you trade with FinexArena?
Choosing a broker without looking at the assets they are offering for trading purposes is a disservice to you. It can be really disappointing to find out later on that the assets that you are interested in are not available or that you have limited options to explore. If you don’t want to deal with such issues, it is best to know what options are at your disposal beforehand. At FinexArena, there are a total of 200 trading instruments that can be traded. As mentioned earlier, you can trade in the forex market when you sign up with this broker.
You will find a range of currency pairs offered by the broker and they fall in different categories like major, minor and exotic pairs. You can choose the ones that seem profitable to you. Apart from that, FinexArena has also added a wide array of CFDs on commodities, indices, shares and cryptocurrencies. You can find some prominent offerings in each market, particularly crypto. There are a total of 29 options that FinexArena has added so far and they are adding more constantly. This kind of variety is offered by a handful of brokers.
With this many options available at FinexArena, traders can easily diversify their investment portfolio. This allows them to earn maximum profits while setting off their losses.
Which trading platform does FinexArena provide?
Brokers provide their clients with a trading platform that’s used for opening and closing positions in the financial markets. This platform needs to work optimally to allow traders to make the most of their trading activities. Unlike some brokers in the market, FinexArena has not come up with their own trading solution. Instead, they have added the suite of the most renowned trading platform in the market i.e. the MetaTrader 4. Every experienced trader in the world recommends the MT4 as the ideal trading platform for sophisticated trading.
You will find different options available at FinexArena from the MT4 suite, which are:
- MT4 WebTrader
One of the first options that you will find is the MT4 WebTrader, which is similar to the desktop version of the trading platform, only it is accessible through the web browser. This means no download required and it can be used on different devices like PC, laptop and even mobile devices. It boasts a user-friendly interface that provides one-click trading, along with a horde of trading tools including trading signals, price alerts, charting tools and more. You can execute trades quickly and watch the results in real-time.
- Android Trader
Since mobile trading has become a popular trend amongst traders, FinexArena has added mobile trading options as well. You can download the MT4 app for your Android smartphone or tablet and it is capable of delivering quality trading services. There are more than 30 custom indicators available, along with chart types. You can find current and historical information regarding profit and loss levels, obtain price quotes, check your trading history and keep track of transactions.
- iPhone and iPad Trader
FinexArena has also added the MT4 mobile app for iOS devices that can be used from anywhere and at any time. It comes with a toolbox widget that can be used for checking your trading history, tracking your current trades, live market prices and other crucial information. There are technical tools also available for the convenience of the traders.
How many types of trading accounts has FinexArena added?
Signing up with a broker implies that you need to open a trading account with them. This also applies to FinexArena and like the others in the market, they have also come up with an array of options, each of which attend to a specific class of traders. The account options can be distinguished on the basis of their deposit requirements and the features that can be accessed. The four types of trading accounts that can be found are:
The options begin with the Silver account at FinexArena that carries a minimum deposit requirement of $250. The maximum you can invest in this account is $50,000. It provides traders with a 20% bonus and a commitment of 24 months. Limited trading signals are available as this account is meant for beginners, but you can consult with a personal account manager for free. One-on-one trading session with a market analyst is also given and traders can earn interest of 1.5% per month through this account. However, withdrawal of the interest can only be made once a year.
Intermediate traders with knowledge and experience are provided the Gold account option at FinexArena for which they have to deposit at least $10,000. They can increase their investment to as much as $100,000 via this account. Unlimited trading signals are now available, along with an executive account manager. 5 trading sessions can be attended with the market analyst and interest rate is now increased to 2.5%. Likewise, traders get a higher welcome bonus of 50% and quarterly withdrawals are now allowed.
This particular account option at FinexArena targets experienced traders as they can fulfill the minimum deposit requirement of $50,000. They can invest as much as $250,000 through this account and can enjoy unlimited one-on-one sessions with a market analyst. 100% account bonus is now available with the interest rate at 3.75%. Withdrawals of interest can be made on a monthly basis in this account.
The last account option that you will find at FinexArena is meant for professional traders and you have to deposit a minimum of $250,000 to open it. The maximum deposit that you can make in this account is $1 million. As it is for the pros, the account gives access to every feature offered by this broker and the welcome bonus is increased to 125%.
Along with these options, FinexArena has also added a demo account option on its platform for facilitating its clients. As the name indicates, this account provides its traders the opportunity to practice trading without risking their actual money. Virtual funds are provided for testing strategies, getting familiar with the trading platform and checking out the broker’s trading conditions. Once you feel satisfied, you can move onto one of the account options mentioned above.
How can you deposit and withdraw at FinexArena?
When you check the account options offered by the broker, you can see that deposit requirements have to be met to open them. How will you make this deposit? To do so, you need to check what methods a broker has added to its offerings. You can use debit and credit cards, including Visa and MasterCard to add funds or you can also directly use your bank account via wire transfer option. FinexArena also lets its traders use Bitcoin for making deposits and withdrawals. The same methods can also be used for withdrawals, but transaction processing can take 2 to 15 working days. Wire transfers also have a minimum deposit of $100.
The answers to these questions show that FinexArena can offer you reliable trading services to help you earn a high return on investment (ROI).