With technological advances taking place since the beginning of the 21st century, a number of industries have evolved and the financial industry is no exception. There have been a lot of changes that have occurred as a result of technology and the widespread use of the internet. Perhaps, the biggest and most prominent change is the introduction of digital trading, through which people from all over the world have been granted numerous opportunities to trade an array of instrument from the comfort of their homes. There are literally thousands of instruments in the financial market, which belong to different categories, and they all present an opportunity for traders to earn returns.
As there is no shortage of money-making opportunities in these markets, it is not surprising to know that a lot of people have taken interest. The good news for them is that they don’t need to have any previous experience or knowledge in order to step into the trading world. Even if you have a completely different career, you can still try your luck in the financial markets and it just might help you win big. After all, you can easily find lots of stories of people who took the risk and were able to earn fortunes through trading.
These days, the addition of cryptocurrencies to the mix has prompted a greater number of people to take their first steps in the market. But, before you can do that, there is one essential challenge that you have to overcome; finding a broker that can provide you with everything you need to trade profitably. This is not as easy as it sounds to most people. Sure, you can find brokers without any difficulty through a Google search and there will be plenty of online brokers ready to assist. However, it is vital to remember that not all brokers can do a good job of providing you with the tools, features, platforms and assets you need.
In order to find a capable broker, you need to consider their offerings and claims carefully to see if they are up to the standards that you expect. One of the various brokers that you will come across in the market is FinexArena. It was established by IBZ Holdings Ltd. just two years ago when there was an increase in demand for online brokers to cater to the influx of traders in the market. The broker is offering more than 200 trading instruments to its clients and claims to have a trading volume of more than $1.82 trillion.
Nonetheless, it is easy for a brokerage to make such claims, but very difficult to live up to them. How does FinexArena fare in that regard? The only way to find the answer to this question is by evaluating the broker’s offerings.
FinexArena at a Glance
|Trading Accounts||Silver, Gold, Platinum and Diamond|
|Assets Coverage||Forex, CFDs on Commodities, Shares, Indices and Cryptocurrencies|
|Trading Tools||Currency Converter, Profit Calculator, Overnight Swaps, Holidays Calendar, Position Calculator and Dividend Calendar|
|Education and Training||Yes|
|Customer Support||Email, Telephone, Web Contact Form and Social Media Channels|
|Security Policy||KYC and AML policies|
|Parent Company||IBZ Holdings Ltd.|
Security Measures at Finex Arena
To begin your evaluation of a broker, it is always a good idea to start with security. With the increasing number of cyber breaches, every trader is worried about having their personal information or their funds stolen by a third-party. It is a legitimate concern because some people have had to face this disaster and you want to avoid it at all costs. Thus, it is best to know how FinexArena plans on minimizing the security risks before you register with them.
High-end encryption technology has been used on the broker’s platform for instantly encrypting any information that’s shared by traders with them. All forms of communication are also encrypted to ensure no one can gain access to any private and sensitive data. To provide protection to customer funds, FinexArena has opted for customer account segregation. Under this rule, all customer funds are kept in separate accounts and are not mixed with the broker’s own money. Their money can only be used for trading and in the case of the broker’s bankruptcy, they are returned to the clients.
Other than these, FinexArena is also compliant with the KYC (Know Your Customer) and AML (Anti-Money Laundering) policies. The purpose of these security policies is to ensure that people are who they say they are when they are signing up with the broker. They have to provide a government-issued form of identity, which can be a passport, driver’s license or a national ID card. Similarly, a bank statement or utility bill needs to be shared to confirm your address. In addition, if you plan on using your card for making payments on the broker’s platform, you also need to provide its picture.
Trading Products at FinexArena
The assets offered by an online broker are a vital point to consider when you are thinking of signing up with them. You need to ensure that the broker you are choosing is providing you with the assets you are interested in trading. Otherwise, there is no point in going through the process of registering with them when they simply don’t have what you need. Even if you don’t have a specific trading instrument in mind, you should look for a broker offering you diversification because that can minimize your risks and maximize your returns.
As mentioned earlier, there are more than 200 trading products that you will find on FinexArena. It has connected its clients to a variety of financial markets, including some very prominent ones. First and foremost, FinexArena gives its traders the opportunity of trading in the foreign exchange market, which is the largest financial market in the world. They have added major and minor currency pairs, and even some exotic options for facilitating their clients.
If you want to go for something with lower volatility, the stock market is also an option, as the broker allows you to trade shares of some of the leading companies in the world. Indices are also provided for those who have a high risk-tolerance whereas people with low-risk tolerance will enjoy the variety of commodities that can be found on FinexArena’s trading platform. In addition, the broker has kept up with the times and added cryptocurrencies, one of the most demanded asset to its offerings. Some of the top cryptocurrencies can be traded through this broker for those looking to expand their investment portfolio.
Account Options at FinexArena
There is a lot of diversity in the financial markets when it comes to traders. Some of them have experience while others are completely new to this world and don’t have any knowledge whatsoever about how they operate. Obviously, their goals will also vary and so, brokers develop different account options for catering to different types of traders. FinexArena has done the same and you will find several account choices offered to you when you are thinking of signing this broker. The four account options that are available are discussed below:
The smallest and the most basic account that’s offered by FinexArena to its clients is the Silver account and it can be opened with a minimal deposit of $250. This account is designed for newcomers in the market, so it provides just basic features to its users. These include limited trading signals, a 20% welcome bonus, free consultation with a personal account manager and free one-on-one consultation with a market analyst. The account also offers interest of 1.5% per month and this can be withdrawn once per year.
The second account option that you will find on FinexArena is called the Gold account and it is designed for amateur to intermediate traders, who do have some experience and knowledge now. The minimum deposit needed for opening this account is $10,000. It comes with full trading signals and an executive account manager to assist the traders. The number of sessions with a market analyst are now increased to 5. A 50% welcome bonus is also provided as an incentive to the traders. Interest of 2.5% per month is given to the users and withdrawal can be made every three months.
Next up is the Platinum account that has been developed for seasoned traders at FinexArena. Therefore, the minimum deposit requirement for this account is on the higher side at $50,000. Under this account, traders can enjoy unlimited sessions with a market analyst and they now receive a 100% welcome bonus. The interest rate is also increased in this account to 3.75% and withdrawals can be made on a monthly basis.
The last account option that’s offered by FinexArena is called the Diamond account and it is designed for catering to professional traders. Along with the features of other accounts, this one gives them a bonus of 125% and the minimum deposit requirement for opening this account is $250,000. It offers everything that traders can need during their journey for making better and smarter decisions.
Along with these account options, FinexArena has also added a demo account, which can be used by novices for practicing with virtual currency. They can get acquainted with the market by trading in a simulated trading environment through this account. Even seasoned traders can use the demo account for testing the broker’s platform and trading conditions and for trying out new strategies without putting their money at risk.
Different Trading Platforms at FinexArena
Another crucial aspect of a broker that needs to be evaluated before you even think of using their services is the trading platform they offer. This software is what you use for executing your trades and if it doesn’t do a good job, then it can result in a poor and uncomfortable trading experience for trading. FinexArena has not developed their own trading platform, which some brokers are known to do. Instead, they have opted for one of the most renowned options in the market i.e. MT4 WebTrader.
This is essentially one of the versions of the most popular trading platform i.e. the MetaTrader 4. The broker is providing you this popular desktop trading platform through your web browsers. With this option, you can trade from any web browser and know that you will get the same level of effectiveness, performance, security and reliability, as you would through a desktop application.
With the WebTrader, you are saved from the hassle of having to download and install anything because you can just access it through the browser. It boasts an intuitive and user-friendly interface that works smoothly and is equipped with various trading tools for helping traders. The multilingual platform also delivers excellent execution speed, allowing traders to capitalize on the smallest of movements. Apart from this option, FinexArena is also offering its clients the option of using Android Trader, iPhone Trader and iPad Trader, which are apps designed for these respective platforms. This allows you a great deal of flexibility because you can now trade on the move.
Customer Support at FinexArena
When you are trading in the financial markets, issues are inevitable, but the real problem is not the issues you face. It is the lack of support that people often encounter with some brokers. This can be disappointing because you might miss out on trading opportunities if your broker is not responsive or support is inadequate. When it comes to FinexArena, the broker has incorporated different channels of customer support on its platform that can be used for reaching out to their team.
You can use the email address or the phone number provided on FinexArena’s website. If not, there is a web contact form that can be filled for getting a callback from one of their agents. You can also use social media platforms for reaching out to the broker’s representatives. A live chat option cannot be found and this is something the broker can improve on.
This indicates that FinexArena can enable you to trade in different markets, according to your comfort level and risk-tolerance.