Choosing a trading platform. What do platforms have to offer you?

The career of any online trader begins with some preparations involving choosing a trading platform, analytical tools and a technical strategy for forecasting the market. However, among these, one of the most pressing problems is directly related to the financial question. We are talking about opening a trading account. What account do beginners need, how much funds are necessary for trading and, out of the services available online, what are the advantages of certain types of investment accounts over others or what can trading platforms offer you in this case? It is these very topics that will be explored in this article.

First and foremost, when beginning to discuss the choice of trading accounts, it is important to mention the related problems that can arise. Firstly, the question of security should be at the forefront of the mind of any trader when choosing a trading account. The problem being that a lot of fraud takes place in this field. It is simply impossible to avoid fraudulent dealers willing to get their hands dirty in such an attractive field with as much financial potential as trading. Considering the fact that there is significant capital present on the market and every investor injects their own personal means, the question of security should be the first thought in your mind.

Online trading is conducted on the specialized platforms of companies who provide service in this field. These companies in particular answer for their clients’ funds and take security measures to safeguard them. That being said, there is such a wide variety of dealing centers for online trading today that illegal services have little trouble hiding amongst them. Illegal services whose singular aim is to blatantly steal the investment funds of traders. Therefore, before opening a trading account on any platform, you need to research it in-depth. First and foremost, check if the trading service is licensed by a regulator. This helps ensures you as much as possible against the possibility of losing funds, even if the company goes bankrupt. Besides that, when you choose a licensed platform, you get to work on the most professional, well-equipped trading services. Don’t rush to open an account, research all the aspects of partnering with them, as well as the reputation of their information database, as you will be conducting your activity based on this information.

The second question you need to consider when opening a trading account is choosing a trading tool with which to operate on the market. Today there are an entire variety of tools for online trading:

SDF contracts – This type of exchange trading position is offered on the platform Forex. Using this tool, you can conduct financial operations and generate profit on any available asset, be it stocks, currencies, indexes, or cryptocurrencies.

Over-the-counter fixed-term contracts – This is a relatively specific tool that became available fairly recently under the name “binary options”. This is also a universal trading tool that gives you the opportunity to work with the rates of any assets, including classic ones

Trading cryptocurrencies –This is a relatively specialized trading regime. The reason for this is that you can conduct operations where you directly purchase and exchange crypto coins with classic fiat currencies. At the same time, the crypto industry provides the opportunity to work in a marginal trading regime close to the format of SDF contracts, where you don’t obtain the asset, only utilize its fluctuation on the market to generate profit

There are specialized platforms for each direction of trading with their own assortment of trading accounts and specific advantages provided.

So, let’s explore in more detail what kinds of account trading platforms offer in the various types of trading, starting with the futures market.

 

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Types of accounts for over-the-counter fixed-term contracts

The vast majority of companies on the futures market offer several basic types of trading accounts that provide traders with various opportunities and service for working on the market. By the way, it is important to mention that the classification of live accounts based on their access to trading tools and starting capital required is a marketing draw for traders. Therefore, when figuring out which type of live account if best for you, don’t decide only based on how attractive the conditions are. It is vital that you take into account both how suitable the financial conditions are for you, as well as making sure that the technical indicators provided on the account fit your trading style.

So, the futures market offers the following types of trading accounts:

Demo account

Companies don’t require you to deposit any funds to open a demo account. It is free to register and use a training account. This is where new, as well as seasoned traders, get access to the following services:

A full-fledged trading terminal with access to every technical resource imaginable

The ability to use virtual funds for training, be it $1,000 USD, €1,000 EUR, or ₽50,000 RUB, the balance is not limited

Analytical support

Training

A full selection of information databases

The ability to participate in tournaments held on demo accounts with real cash prizes

Standard account

This type of account offers the minimal conditions to begin trading live on the company’s platform. You need the minimal investment deposit required in order to open a standard account. On average, it starts from $10 dollars (this can vary depending on the platform, but overall these are likely to be the conditions).

On these accounts, traders gain access to an optimal selection of service, including:

The complete live version of the trading terminal

Access to all trading assets

High profitability of trading positions, up to 90%

The ability to place contracts starting from $1 dollar

The company’s basic bonus offers

Professional technical support for clients

The option to participate in contests and tournaments

The ability to withdraw funds in 3 working days4

Gold account

You need to deposit at least $500 dollars of starting capital to gain access to this trading account level, that or achieve this balance through working on the market. To put it simply, as you grow professionally, so will your financial status on the trading platform. Here, in addition to the services listed above, clients gain the following benefits:

A wider range of financial assets for trading

Increased profitability of positions, up to 90%

More lucrative bonus programs

Insurance on trading contracts

Reimbursements for trading losses, up to 5% a week

The option to receive professional consultations from your personal professional manager

Compensation for losses, up to 5-10%

Monetization of trading funds in 4 hours

VIP account

This is the highest level of live accounts and, as follows, clients of this level have access to the best tools and services. In order to achieve this status, you need to have at least $1,000 dollars in your account. VIP clients gain the following advantages:

Contract profitability of 95% (fixed for all positions)

A complete list of basic trading assets

Bonuses amounting to 100% of your deposited trading capital

Working with a personal manager on an ongoing basis

Reimbursements for losses of up to 15% per week

A range of exclusive services

Monetization of funds within 4 hours

As you can see, futures trading platforms for over-the-counter contracts offer a selection of accounts suitable for all tastes and wallet sizes. Other than the standard accounts, on some services you will finds more exclusive types of accounts for very wealthy clients. Typically, these conditions are accessible from $10,000. In these cases, the conditions of the partnership are discussed on a case-by-case basis.

The Forex Market

This type of online trading platform closely resembles the futures market in terms of available accounts. The vast majority of services offer the following trading conditions:

Standard

This type of account requires the minimum starting deposit, beginning from $1 dollar, although there are more professional services available that require a minimum starting capital in the range of $300-$500 dollars. When working on this type of account, you gain the following opportunities:

The ability to work with basic financial assets

Leverage of 1:1000 or 1:2000

Increased commission

Limited stop-losses

The standard selection of analytical services

Profit withdrawals in 3-5 working days

Gold/Premium

You need to have a minimum of $500-$1,000 dollars in your account to achieve this trading account status, on some platforms it can require as much as $3,000-$5,000 dollars. With this status, investors gain a wider selection of opportunities:

A wider selection of assets

A lower level of commission

The largest market analysis toolkit

A professional analyst

Cash back up to 5%

An increased number of trading positions that can be open on the market at any given time

Monetization of profits in 1 working day

VIP or PRO

Traders reach this status when they open an account with $1,000 dollars of starting capital ($5,000 dollars on some services). By opening this type of account, traders gain access to the widest and most exclusive range of opportunities for generating profit:

Maximum leverage

Unlimited access to trading assets

The widest selection of technical analysis tools

Minimal commission

Special opportunities on the trading platform

A personal analyst

Professional trading signals

The support of a professional manager

Cash back up to 15%

Individually-tailored partnership conditions

When considering the types of accounts on Forex, it is worth mentioning that there is a limit to the amount you can use for an initial deposit, nearly all platforms set this at $50,000 dollars. It is thought that investors with such financial clout should be working on exchange platforms directly with personal brokers. In reality, the reason for this is to create safe conditions for the trading platform itself to function. When working successfully with such capital, the investor could bankrupt the platform.

The cryptocurrency market

Trading platforms that work on the market are not only innovative but extremely liberal in terms of the selection of live accounts and the accompanying conditions for conducting operations. You will not be limited in your access to certain assets or technical functions of the trading service. The companies also don’t place a limit on the maximum investment or cost or trading contracts. The only condition for working on the cryptocurrency market is the total starting capital, which typically starts from $10-$50 dollars. Following this, all clients work under identical conditions. Other than replenishing the trading account with fiat currencies, they logically provide accounts that can be replenished directly with various types of crypto coins.

Conclusion

As you can see, online trading provides a wide assortment of trading tools, as well as a multitude of technical financial conditions for conducting market operations. Using this list of accounts, any investor can find the trading account most suited to their preferences and financial capabilities. Besides that, they can increase their trading opportunities on higher status accounts, providing an additional stimulus for professional growth as an online trader.

TRADE OPTIONS

“General Risk Warning: Binary options and cryptocurrency trading carry a high level of risk and can result in the loss of all your funds.”

How to choose trading account for trader
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