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How to choose the best broker or app for online trading


In this historical and economic landscape, more and more people are becoming interested and involved in trading. For those unfamiliar with the industry, when we talk about trading, we are referring to the financial activities of investing and selling that take place in the electronic market.

Trading is something that many people can do, even if they are not particularly knowledgeable about finance. This is due to the presence of brokers and applications that help in the operation.

The question then arises: how to choose the best option according to your needs? Let’s look at it together.

Making the right choice for trading

In a world as vast and varied as the Internet, making the right choice for online trading is not always easy or obvious. The characteristics to keep in mind, whether we are talking about brokers or platforms/applications, are

  • Reliability and respectability
  • transparency of operations
  • Intuitiveness of use (in the case of platforms and applications)

Currently, one of the best reviewed platforms is Pocket Option. In addition to its ease of use for those wishing to enter this market but lacking sufficient knowledge, it provides a wealth of information and training materials. These are very useful for gaining an insight into the workings of not only the platform itself, but the electronic marketplace in general. Training in this area is not so obvious.

The platform operates from the Marshall Islands and this allows it to offer favourable terms to both brokers and clients. This does not exclude the fact that the platform has all the authorisations to function on the international market as well as on the Italian market. We are therefore dealing with a platform that has all the prerogatives to give security to those who use it. The licence it holds is from the IFMRCC, which sets strict control parameters at the operational level.

Among the various rules, the broker and the client always have separate accounts: in simple terms, this means greater security for the client. The broker must also operate in the best and most optimal situations for the benefit of the client. The brokers themselves, thanks to this licence, are subject to controls in various aspects, and this always benefits the client.

Online trading for beginners

One of the advantages of Pocket Option is the free trial, which allows you to take your first steps on a demo version without risking your capital. Few words and many actions. The moment you switch from the simulated situation to the real one, you get a bonus.

Among the advantages of this platform is the fact that it is not part of the ESMA circuit (i.e. regulated by the laws of the European Economic Community), which allows you to trade on various currencies and assets with binary options. The platform is not European, but it accepts investors from this area who therefore want to target binary trades.

What are binary options in simple terms?

Let’s start with the fact that binary options offer very high returns in a short period of time. Simply put, it is like betting on what might happen to the price of a stock, commodity or currency. The results happen in a short period of time, from 5 minutes to a few hours. The result is a win or a loss. If you win, you make a profit, but if you lose, you lose the money you invested. This is because binary transactions act like the stock market. The obvious disadvantage is the risk of losing your capital, but this is offset by tangible advantages such as

  • The ease of learning how they work
  • Knowing the risk of loss, so you can determine the budget to invest from the outset

A high option that one can choose, operating on this platform, is to invest in cryptocurrencies. Today, China is on the way to creating a national cryptocurrency. Many market sectors are opening up to cryptocurrencies, thanks in part to the transient and transparent management of the blockchain, as each transaction is shared with everyone and recorded on network nodes that are interconnected and tend to avoid forms of fraud through decentralised management.

What kind of capital do I need to invest in online trading?

When people think of financial investments, they tend to think that large amounts of capital are required. Nothing could be further from the truth. The Pocket Options platform allows you to invest minimal amounts in order to familiarise yourself with this type of investment. A practical example? Trading always requires a minimum deposit. In this case, we are talking about $50, which, from an investment point of view, is a low figure and not comparable to what brokers required a while ago.

Let us then turn to binary trading. How much can you start with? You can start trading with as little as one dollar. You can try one trade or different strategies on different assets (i.e. the currencies, stocks, commodities on which you are forecasting trends) and see how you go. Asset diversification is definitely the most effective method, although there is always the possibility of losing capital.

A strategy that works and is followed through to the end, within a set timeframe, can help you navigate this not unpredictable industry. In addition to theory, it is practice that will make you more knowledgeable about this type of investment. When the capital to be invested is small, it is reassuring even for the beginner who wants to understand the dynamics of the operation and the approach to trading. This means that Pocket Options is a transparent platform, but also easy and intuitive for those who want to start from scratch.

How to trade while minimising risk

Relying on a reliable partner is a safe bet in a complex market. Given the volatility of trading, transparency and simplicity are two advantages. Whenever you trade online, you should always analyse your strategy well, exclude any emotional phase, avoid using overly complex instruments, especially at the beginning, and constantly monitor the trend. Even the best broker cannot replace your analytical skills, so if you want results, be present and think from your own perspective.

*This article was paid for, Cryptonomist did not write the article or test the platform.

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