Trading in the financial markets is a profitable venture, one that has drawn the attention of millions of people around the globe. There are thousands of financial instruments that can be traded i.e. bought and sold for a profit and everyone has an equal opportunity to do so. There are no restrictions in the market, based on experience, knowledge or skill, but having these certainly works in your favor. As long as you have some money to invest, you are good to go. But, in order to begin, you have to find a solid and dependable brokerage to partner with.
You will not run short when it comes to choices in brokerages, as there are plenty of them offering their services globally. The real problem is finding a reliable broker because not all of them can be considered equal. Some many offer impressive trading conditions, but not have a good platform or proper security measures. Others may have a variety of assets, but lack customer support and have high trading fee. There are also unregulated brokers, which may actually be scams or expose you to cybersecurity risks. You definitely want to steer clear of such scenarios and find a professional broker to cater to you.
One broker that will be constantly advertised as trustworthy and capable is SMIMarkets. It is true that the broker was established in 2002 in Estonia and has now spread it offices in Stockholm, Sweden, Sydney, Australia and London, United Kingdom. Over the years, the broker has dedicated itself to providing its clients with a smooth and positive trading experience and its positive reputation indicates that it has been successful at doing so. But, how has it accomplished this goal and what makes it a good choice? Let’s see how different it is from others in the market:
- It is not too complicated to sign up
To start with, registering with SMIMarkets is not a complicated procedure at all. Most brokers have added so many formalities that it has become immensely difficult for traders to even open an account. This only adds to their frustration and could even demotivate them. Therefore, SMIMarkets does no such thing and only has one form that needs to be filled out for getting registered with the broker. It asks for basic information and you can be done in a few minutes.
- It gives room for growth
One of the best thing about SMIMarkets is that it gives its clients plenty of room to grow. It is a forex and CFD broker, offering more than 250 instruments that are spread out across different categories. You can try out forex currency pairs, different types of commodities i.e. agricultural products, natural energies and precious metals, indices, and cryptocurrencies. You can start with a single instrument and continue adding on more assets to your portfolio to practice diversification.
- It welcomes every trader
An appealing feature that has drawn many to SMIMarkets is that the broker doesn’t cater to a specific class of brokers. Novices, intermediate traders, experienced and skilled traders and even full professionals can sign up with the broker. Each of them have an account option that has been especially developed for them, starting with Beginner and then moving onto Standard, Gold, Diamond and ending with VIP. To add to it, the broker also welcomes Muslim traders by giving them the option of opening a Islamic account on their platform. Not many brokers can claim the same.
- It is transparent in terms of costs
Trading costs and fees are a big concern for traders because they will eat into a portion of your profits. The problem is that most brokers are not open about the fee they charge and so, traders have to deal with numerous hidden costs that can reduce their earnings significantly. With SMIMarkets, you will not have to put up with any such issue because the broker is transparent and upfront about their costs. They don’t have any deposits or withdrawal fee and no commissions are charged either. The broker earns via spreads and even those are mentioned clearly. Inactivity fee or fee for dormant accounts is applicable and this is also clearly outlined.
- It protects your funds
A major concern of traders when signing up with a broker is having their funds stolen by someone or them being mixed up with the broker’s own money. SMIMarkets puts your worries to ease by protecting your funds through account segregation. This means that traders’ accounts are kept separate from the broker’s to prevent the former being used for paying the company’s obligations. Moreover, the funds are kept with some of the top banks in Europe, which provides a layer of security and minimize the risk of theft.
- It follows KYC and AML regulations
Know Your Customer and Anti-Money Laundering regulations are international security policies that are implemented to check the identity and address of every trader using a broker’s services. This can prevent frauds and scammers from gaining access and so SMIMarkets has chosen to use these policies to add another layer of security to their platform. Some documentation is required to comply with them, but they can help create a more secure environment for the traders.
- It provides responsive customer support
Customer support is one feature that can make or break a business and SMIMarkets is fully-aware of its importance. When you are trading, you want immediate assistance and don’t want to wait too long for a response. Therefore, the broker has added several methods you can use for reaching out to their support team. There is email or you can give them a call on the phone, using the number provided on the website. They also have live chat that can be used or you can simply fill out an online contact form given on their website.
When you put all of these perks and features together, it is easy to see what makes SMIMarkets a good broker for all traders.