No matter what you choose to trade, be it Forex, Cryptocurrencies, or Stocks, your success is determined by several factors. One of those factors, and one that serves as a foundation stone for your career in trading is your choice of broker or brokerage app. Technology has been great in democratizing access to the markets but care still needs to be taken when choosing your brokerage partner. Remember it is your brokerage partner that will allow you to both initiate trades and profit from them.
Before diving into determining whether we are in a bull or bear market, there are some important practical things to take care of. When choosing your brokerage partner there are several boxes that you should be looking to check.
Firstly, are they licensed to provide you with the services offered? Having a license means that the company behind the app is dedicated to providing services within the current legal framework and adopts best practices to ensure services offered are not only legal and subject to forms of remediation but that services meet the needs of their users.
Secondly, what is the company’s reputation? A quick Google search can reveal what the people that use the platform believe. If reviews are overwhelmingly negative, see why that is the case. The same goes for if views are overwhelmingly positive. You are going to be doing a lot of research in your trading career so why not begin with your partner that will facilitate profits?
At Pocket Option, we believe we meet those first two crucial factors, but surpass the industry standards for both licensing and reputation. We are licensed with the Mwali International Services Authority and look to provide robust Know Your Customer (KYC) and Anti-money Laundering (AML) policies to ensure legal compliance. Further, this helps us maintain responsible actions between our customers and the markets inspiring confidence. As for our reputation, we allow users to post their thoughts about our services directly on our website. We believe our great reputation is not only due to the services we offer across mobile platforms but also the values that guide our decision-making.
Organizations lacking values are eventually doomed to fail. When choosing your brokerage partner determine what their core values are that underline the company. You already have a lot to contend with when navigating uncertain markets, you need a loud and dependable partner who acts in your best interests. At Pocket Option, this is our main aim when we established the company in 2017.
At our inception, we looked at leveraging the latest technologies to create a product that would allow our users to trade without compromising their ability with unreliable technology. We were determined, and still are, to provide our users with the ability to trade in a convenient and accessible manner to help remove the stresses associated with trading the markets.
To us, how we allowed our values to guide us could only be measured by client satisfaction. By being traders ourselves we knew what traders need. It’s not just a great platform but also great customer support and the ability to listen to those who use our platform on where we can improve. With our values front and center, it enabled us to create a platform that can serve both inexperienced and experienced traders.
Once you are convinced your chosen platform is guided by a strong sense of values and places the customer first, then you have to see if the platform itself is up to scratch. If the user interface (UI) is hard to use, unclear, or requires a degree in rocket science to figure out, your trading will suffer.
Not only does the UI need to help facilitate trading success but makes financial metrics ready and available. Textbooks have been written on what metrics to use so specific metrics will be treated as not in the scope of this article. What is important is that the platform you choose has the financial metrics you need to help you make informed decisions on where the market is heading.
Platforms should provide education as well. Markets are never stagnant and even the oldest of trader dogs can learn new tricks but providing accessible education to new traders is vital to their potential success. Fortunately, at Pocket Option, we believe we have focused on these tech and educational requirements and created a platform that serves all our users no matter their experience level.
Choosing the right broker or brokerage app is not as easy as seeing who provides you with the best sign-on benefits. Benefits are temporary but a brokerage partner who wants to see you thrive is forever.