By Franklin Smith
TradeDays Review
Trading financial instruments is not something that has been introduced recently. It has existed for years and, at some point or another, you probably heard people talking about trading in the foreign exchange market or the stock market.
More recently, it is the cryptocurrency market that has become the talk of town and has piqued the curiosity of those who hadn’t paid any heed to this major online trend. Fortunes have been made and lost in the crypto world and with the market just growing, it is not surprising that more people want to trade. While all of that makes sense, why do you need to go through a TradeDays review?
Shouldn’t you be jumping the bandwagon and taking advantage of the trading opportunities in the financial markets that can help you make money, while other industries are struggling due to the global pandemic? Indeed you should and when you do go about it, you will discover that in order to access these opportunities, you need the services of a broker.
Even before online trading existed and people were trading traditionally, they needed a broker to assist them and this hasn’t changed. Today, these brokers exist online and are the key that unlock the financial markets for you.
You will not be able to trade any instrument without their assistance because they provide you the platform, tools and other features that you need for doing so. Thus, when you want to begin, you have to start by looking for a broker.
But, you will soon realize that this process doesn’t come without its challenges either. It is not like you Google and pick the first option that pops up because all of them are not the same and neither do they provide the same quality of service.
It will take you only one search to realize that choosing a broker is easier said than done because there are literally hundreds of these platforms that exist in the market. In fact, more and more are being introduced regularly due to the popularity of trading and you will be flummoxed by the sheer numbers, along with their offerings.
After all, every single of them will promise to provide you with everything you need to trade successfully, but you cannot be naïve enough to just accept what they say. No one will tell you their flaws and issues, so it is your job to find them, if any.
Your goal should be to find a dependable, authentic and professional broker for your trading needs. Considering the unregulated nature of the internet, it doesn’t come as a surprise that not every company may be legal. Anyone can create a website nowadays and masquerade as a company, but it is possible that they are just cybercriminals, looking for an opportunity to take advantage.
That’s how a number of frauds and scams have happened and you don’t want to fall for them. This is why it is important to go through TradeDays review because it provides the insight you need into making the right choice.
Is there any need to worry about security and privacy?
One of the biggest concerns that people have when trading online is regarding their security and privacy. The internet has been rampant with cybercrimes and has become notorious for the breaches that have happened over the years.
Since there is no central authority governing this space, hackers, fraudsters, scammers and other cybercriminals have enjoyed free rein. When you are using the internet, you are exposed, but online trading can actually kick things up a notch.
This is due to the fact that to trade online, you have to sign up with a broker, which means you have to share your personal information with them. This leaves you vulnerable to identity theft, as your confidential information could be stolen and then misused.
Secondly, you also deposit your money with the broker and hackers can easily steal that as well, so your hard-earned funds will also be gone. Of course both of these are big risks and you would want to minimize them as much as possible.
In order to accomplish this goal, you have to find a broker that values your privacy and security. You will find that TradeDays fits like a glove in this scenario because they have created policies that are designed to give peace of mind to their clients.
They have used robust security measures and have a tough and all-encompassing privacy policy that alleviates your concerns and allows you to fully focus on your trading, without having to worry about the safety of your information or your funds. If you have any doubts, you can go through the policies to reassure yourself.
To begin with, they maintained segregated client accounts, which means all your funds are deposited in separate accounts and not mixed with the company’s own. This keeps them safe from misappropriation and ensures that there are no discrepancies.
When it comes to protecting your personal information, advanced SSL (Secure Socket Layer) encryption is used by TradeDays to keep all information encrypted and away from prying eyes. They also encrypt all website traffic to prevent cybercriminals from gaining access to their system.
Furthermore, you will find that TradeDays is also AML (Anti-Money Laundering) and KYC (Know-Your-Customer) compliant. These are two of the most renowned international security policies and aimed towards reducing the chances of identity theft, financial fraud, money laundering and terrorist financing.
As per these policies, traders have to provide proof of ID and proof of address, which involve submitting a national ID card, an international passport or a driver’s license for the former and a utility bill, bank statement or credit card bill for the latter.
You will also find a detailed Privacy Policy on the TradeDays website that provides details of what information is accumulated by the company and how it is used. You can go through the policy and discover that your information is not disclosed, shared or rented to anyone without your consent.
What instruments can you trade?
If you believe that the broker you are considering is secure enough, you can make the effort to look at its other aspects. In case it is not secure, there wouldn’t be any point in looking at anything else because you wouldn’t be able to trust them with your money or your information.
In this case, you have discovered that TradeDays provides you with more than adequate security, so you can move forward and see how it fares in other areas. One of the most important things to know about them are the instruments they are offering to you for trading.
This is due to the fact that the profits you earn will depend on the instruments you are trading. The financial markets have thousands of instruments that you can trade, but not all of them can promise you the same rate of return and neither do they have the same risk and volatility.
Moreover, a broker will not give you access to every single instrument in the market; they come up with their own asset index and you need to take a look to see what you will find. You definitely don’t want to be disappointed by the choices later, especially when you are interested in specific instruments.
The good news is that there are more than 100 instruments available on TradeDays and they belong to different financial markets. They are some of the leading options from every market, so you can get access to profitable instruments and also get the chance to diversify your portfolio.
This will allow you to minimize the trading risks as well. You can decide to trade in the forex currency market, as there are numerous currency pairs that are available here. GBP/USD, USD/JPY, AUD/USD, GBP/EUR, EUR/USD and USD/CHF are some of the choices you can check out.
If you enjoy the high volatility of the foreign exchange market, you can also try your luck with digital currencies as TradeDays has added some of the top cryptocurrencies to their offerings. You can trade Bitcoin, Litecoin, Bitcoin Cash and Ethereum and a number of others.
The stock market is also teeming with opportunities, as it gives you access to some of the leading companies around the world. You can trade stocks of companies like Amazon, Apple, Microsoft, Alibaba, Netflix, PayPal, Coca Cola, Intel and Tesla.
The indices market deals with baskets of stocks and is more for traders considering the bigger picture. There are some great indices available at TradeDays like NASDAQ 100, FTSE 100, S&P 500 and CAC 40. In case you want to keep your risks under control, the commodities market offers plenty of options in this regard. There are different types of commodities that can be traded.
These include soft commodities, including agricultural products like wheat, sugar, coffee and corn. Hard commodities referring to precious metals like gold, silver, platinum and palladium are also available. Brent crude oil and natural gas are some energy commodities to consider as well.
What kind of trading platform do you get?
Another vital question that you need to ask about the broker you are thinking of signing up with is regarding their trading platform. It is the software you use for your trading and it needs to be up to the mark. Otherwise, you will not be able to open or close positions easily and quickly and it will have a direct impact on your bottom line.
Similarly, if you don’t have access to the right tools and features, you will not be able to make good, smart and timely decisions and this will also cost you. Hence, the trading platform is not something to be taken lightly.
No, every broker doesn’t offer you the same platform and there are different kinds of platforms from which they can choose. There are some options that already exist and some companies even come up with their own trading solutions for their clients.
You will find that TradeDays belongs to the latter category, as they have chosen to develop a web trading platform for their clients in order to offer them a simple, yet feature-rich environment for trading. As it is a web-based platform, you don’t have to download or install it on any device.
You can enjoy flexibility in regard to the device you can use it on, which means you can also get flexibility in regard to the location where you use it. No matter where you are, you can trade via the web trading platform because it is accessible on multiple devices.
As far as the navigation and interface is concerned, you will have no complaints in any of these aspects as TradeDays has ensured that the platform is easy to navigate for everyone and the interface is user-friendly. Whether you are a beginner, or an experienced trader, you can master the platform quickly.
A horde of advanced and useful trading tools have also been integrated on the platform by TradeDays in order to enhance its functionality and performance. As it is powered by innovative technology, the platform offers lightning fast, one-click trading to its clients.
Traders can take advantage of tools like price alerts, advanced charts, live graphs, trading signals and indicators and a custom and unlimited trading dashboard that allows trading of multiple assets. You can also find an economic calendar that keeps you updated about all major events and can help you make decisions.
What are the registration requirements?
It is understood that you will have to register with the broker in order to start using their services and to be able to do this, you have to look at their prerequisites. Every company comes up with their own procedure because there is no standard format that they have to follow.
If you speak to some experienced traders, they will tell you the problems they have had to deal with in registering with some platforms. As for scam and fraudulent ones, they try to get you to share as much information as possible in order to exploit it.
Thus, you have to be cautious and ensure that the broker you are considering has an easy registration process and doesn’t complicate the process unnecessarily. Fortunately, you will find that TradeDays has followed this rule because their goal is to make trading easy and convenient for their clients. Their registration process only involves filling out a form on their website that doesn’t take you more than a couple of minutes.
You are asked to share details like your first name, last name, address, city, state and country. You also have to enter an email address and password that will be used for accessing your account later on.
To fund your account, three currency options are given by TradeDays and you can choose from EUR, USD and GBP as per your preference. The last step is to agree to the Terms & Conditions they have laid out on their platform and you will be registered immediately.
Final Thoughts
The answers to these questions certainly give you an idea of what to expect when you opt for TradeDays as your broker. To add to it, they have also put together an education center for their clients where they provide extensive resources for beginners as well as experienced traders. They have also added a range of payment solutions on their platform that make deposits and withdrawals easy for traders.
Most importantly, you will find excellent customer support available at TradeDays, so you can always get help when you need it. The combination of these offerings can make trading a smooth and seamless experience for traders and help them in achieving the success they want.