With the COVID-19 pandemic wreaking havoc across the global economy, it is not surprising that people are desperately looking for ways to supplement their income. Many people have lost their jobs and are in search of opportunities that can help them generate money quickly. The online world has a ton of options to offer and one of these is online trading. There are thousands of financial instruments that can be traded and have the potential to offer high returns, something that other investment opportunities are not offering these days. Moreover, entering the trading markets has also become easier than ever, due to technological progress.
Even if you don’t have any education or experience in the financial markets, you can still try your luck. There is no need to invest copious amounts of money in one go and you can start small, if you don’t want to take big risks right away. As long as you make the right decisions, you will be able to make solid profits from online trading in a short span of time. But, where will you trade? To do this, you have to find an online broker and there are numerous options that you can check out when you decide to trade.
But, it is important to remember that no two companies are created equal, which means their services and offerings will differ. It is up to you to select a broker that appears capable and trustworthy. As the trading markets have had some scams and fraudulent platforms, you have to be very cautious in order to avoid any such outcome. The key to do so is by asking some important questions about a company and making your decision according to the answers. One of the brokers you need to ask questions about is Finetero, an STP broker that’s offering its services in more than 150 countries around the globe.
Since it was established in 2018, many traders are hesitant in signing up with Finetero, as it is relatively new. However, you will come to know that it was founded by a team of professionals and financial experts who have in-depth knowledge of the trading market, which they have used in devising strong trading solutions for their clientele. Their offices are located in London, United Kingdom, and they have added all essential tools and services traders need in order to achieve their financial goals.
Nonetheless, you need to know what questions have to be asked about Finetero’s services. Some of the important ones are highlighted below:
- What assets does Finetero offer?
One of the most vital questions that you have to ask about any brokerage is their asset index. If you take a look at the financial markets, you will discover that there are a horde of instruments that can be traded, but not all brokers will give you the same choices to explore. Obviously, you would want the instruments that are most profitable and this is something that Finetero has paid attention to. You will come to know that their asset index comprises of 1,000 trading instruments that belong to different markets.
This gives traders the opportunity to specialize in a particular market or diversify their investment portfolio in order to minimize their risks and maximize their profits. You can trade in the world’s biggest market i.e. the forex currency market, which has an array of currency pairs. Some of the options available at Finetero include AUD/USD, USD/JPY, EUR/USD, EUR/JPY, USD/CHF, AUD/CAD and NZD/USD. You can also opt for the commodities market, which is known for giving consistent returns, as there are hard and soft commodities to explore.
Soft commodities include agricultural products, such as corn, wheat, coffee, sugar and rice. Hard ones include precious metals like gold, silver, palladium and platinum, and energies like crude oil and natural gas. Finetero has also added cryptocurrencies to their asset index, which are the hottest trading instruments that are available nowadays. You can trade Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ripple and many other choices. Apart from that, you can also invest in the stock market, which allows you to trade shares of some of the world’s leading companies, such as Apple, Amazon, BMW, VISA, Microsoft, Twitter, Facebook, Toyota, Coca Cola and Yahoo.
Indices is another market that you can explore at Finetero and they offer you the world’s leading indexes, such as FTSE, NASDAQ, Dow Jones, DAX and the S&P500.
- How secure is Finetero?
The online world is not without its risks due to which security is a prominent concern for everyone who is putting their personal information or money out there. Since you have to do both when you decide to trade online, it is necessary to know what security policies are used for keeping you protected. Finetero has not skimped on security because it is well-aware of the risks that exist. First, they protect their clients’ trading accounts via 2FA (two-factor authentication), which prevents unauthorized access to their trading accounts.
They are compliant with the AML (Anti-Money Laundering) and KYC (Know Your Customer) security policies, as per international standards. These policies require traders to provide proof of identity and proof of address because their goal is to prevent identity theft, terrorist financing, money laundering and other forms of financial fraud. Proof of identity involves submitting a national ID card, international passport or a driver’s license. For proof of address, you can provide a bank statement or a utility bill, which shouldn’t be more than three months old.
As Finetero is accumulating such sensitive information, they have used advanced SSL (Secure Socket Layer) encryption for protecting it from cybercriminals. They also maintain segregated customer accounts for protecting all funds deposited with them by their clients. As far as cryptocurrencies are concerned, the broker uses cold storage and hardware wallets for security reasons. In addition, their security and IT team constantly monitors the website and traffic to close any loopholes that cybercriminals might exploit, thereby providing a safe trading environment.
- What trading platform can you use at Finetero?
The software that you use for connecting to the financial markets and making your trades is referred to as the trading platform. Every brokerage offers a different platform to its clients, so it is best for you to know what you will be using in order to ensure it can do the job well. If the platform doesn’t deliver a smooth performance or has any issues, it can make trading immensely difficult. Finetero’s team understands the role a trading platform plays, so they have incorporated several options that traders can explore.
First off, their clients can access the MT4, the leading trading platform in the market, which boasts advanced trading technology. It has a simple user-interface, which makes it easy to navigate for every trader, whether they are just starting out or are skilled traders. You can take advantage of instant trade execution and use one-click trading for your convenience. In addition, there are various trading tools, such as price alerts, market news, trading signals, live charts, trading indicators and economic calendar.
The next trading platform that you will find at Finetero is known as the WebTrader, which is accessible through the web browser and doesn’t need to be downloaded or installed. You can access it through the web browser on any device, which gives you a lot of flexibility because it can be used on any device that supports one. It also uses cutting-edge technology and allows you to trade multiple assets from a single platform. There is also the option of downloading mobile trading apps on your smartphones or tablets, both iOS and Android. It takes only a few minutes to download and they can allow you to trade from your trading accounts on the go.
- How many trading accounts are provided at Finetero?
Using a broker’s services means having to register with them and open a trading account with them. If you take a look at brokerages operating in the market, you will come to know that they provide different options to their clients. Finetero has also done the same, but what makes them different is that their choices are a lot more diverse, as they aim to cater to as many traders as possible. Therefore, they have come up with various accommodating options to help them trade easily. First off, they have a demo account option on their website, which can be used by traders to get in some practice.
This account comes with virtual currency and can be used for testing Finetero’s trading platform, their conditions and for experimenting with different trading strategies. Once you are done with the demo account, you can switch to a real account. There are five account choices that they have put together for their clients. Some features are common in all accounts, such as access to webinars, seminars, education center, stop out level 50%, variable spreads beginning at 0.1 pips, online chat support and access to all trading platforms.
But, some features are specific to some accounts and you can explore the options to find one that suits you. The five choices that Finetero is offering are:
Bronze: Designed for newbie traders, the Bronze account can be opened with a deposit of €5,000. It offers a trial period of relationship manager, daily newsletter and trading signals. Traders can also attend a one-on-one session at the Trading Academy. The commission for this account is standard.
Silver: The second account that you will find at Finetero is more for beginner traders and they are asked to deposit a minimum of €10,000 for it. They can get the relationship manager and newsletter without a trial now and their Trading Academy sessions are increased to 3. They can also use the Mirror Trader algorithm for making their trades.
Gold: The third account choice is referred to as Gold and since it is for intermediate traders, the minimum deposit is set at €50,000. There is no trial period for anything here and Trading Academy sessions are now 4. There are 2 private trading sessions in a month, access to the event room once per month and SMS trading notifications are given. RoboX is also added to the offerings and a 10% discount is applicable on commissions.
Platinum: Skilled and advanced traders will find the Platinum account a suitable choice for themselves, as they can get 8 sessions at the Trading Academy, get 4 private trading sessions and access to two events in a month. A deposit of €100,000 is needed for this account and a commission discount of 25% is applicable.
Premium: To cater to expert and professional traders, Finetero has come up with the Platinum account, which requires a minimum deposit of €250,000. 16 sessions can be attended at the Trading Academy and 8 private trading sessions are available, along with 4 events per month. The discount on commission is now increased to 50% and VIP services are also added to this account.
As far as making deposits are concerned, traders can use EUR, GBP and USD for doing so. Payment methods that can be used include e-wallets like Neteller and Skrill, bank wire transfers, or debit and credit cards, such as Visa, MasterCard or Maestro.
- What additional resources does Finetero provide?
You will also come across an education center on Finetero’s website where traders can find a ton of learning material fo polishing their knowledge and skills. They can attend webinars conducted by trading experts, read articles and e-books, watch video tutorials and more. There is also an FAQ section where you are provided answers to any questions or queries you might have about their services. A customer support team has also been put together for resolving any issues traders might have during the course of trading. They are multilingual, responsive and available 24/6. You can reach out to them via email, live chat, and phone or through an online form.
With Finetero, you can venture into the trading space and begin making returns from the comfort of your home.