Finexro online crypto trading platform, which operates in the crypto space since 2018, has launched a new trading interface and website design, with updated UI and UX for crypto investors and traders.
Finexro Review — Features That New Traders Should Know About
So, you’re interested in becoming a trader. When you make money with your own trades and are your own boss, you can say that trading is not just an activity, but more like a business. Luckily, in this day and age, it is not difficult to jump into this business with so many brokers available online. You just need to make sure that you know what kind of facilities and services you require from a broker and find one that suits them. However, it is a daunting task to pick out a suitable broker, especially if you are new to the field.
Since online trading is a trendy and advancing field, you might have come across various stories on how people became millionaires overnight or how some went bankrupt due to fraudulent brokerage firms. That is why I always look for reviews and peoples’ experiences that they share online to see if the firm I am considering is right for me.
I realized that reading the experiences of other traders helped me make better decisions rather than just visiting different websites. For this reason, I have decided to share my personal experience with Finexro, an online brokerage firm.
Read ahead and decide for yourself if this firm is the right one for you.
Notable Features of Finexro to Consider
· Trading Platform
This is one of the most important features that you need to look at because all your actions, transaction, deals, etc., will be performed on it. Some brokers put all their efforts into creating an attractive trading platform which often results in a complicated user interface. On the other hand, you will find that some brokers don’t pay much attention to their platform so it is poorly designed, which also frustrates the users.
This broker allows users to access them through three different trading platforms. The best part of this is that they provide the MetaTrader 4 platform which is one of the most successful trading platforms and a personal favorite of mine. You should look up the benefits of the MT4 platform. You can download the MT4 software on your computer. The authentic download link for the software is available on the broker website.
You can also use this broker through their website which is designed with a user-friendly interface. It comes with instructions for the users and the options are clearly stated. This website can be accessed through any device, computer, tablet, or smartphone. A mobile app is also available as a platform for this broker.
· High Leverage Rates
Leverages are given out by firms for forex trading. This means that the broker will “lend” you some money to continue your trades. Let me explain it a bit more. Leverages are written in the ratio. Finexro provides you with marginally high leverage rates than other brokers with the ratio being 1:100. This means that to buy ten Bitcoins worth $10,000, you will only need to invest $1000 and the rest will be lent to you by the broker.
Using leverages offers various benefits. You can make larger profits as even a small change in the value of the asset will make a large difference in your revenue. You can also use your money to invest in other trades as you don’t have to pay full amounts, hence, increasing gearing opportunities. And, leverages allow you to track market movements and determine if the market value of an asset will drop or rise.
· Trading Hours
Broker firms need to have valid trading hours as people from different time zones use their websites for business. If the trading hours are limited to the working hours of a specific country, then it will be unfair to the customers in different countries due to different time zones. Furthermore, the asset values fluctuate throughout the day, so limiting the trading hours may lead to more losses in investments.
On Finexro, you can trade in cryptocurrencies 24/7 as the market doesn’t close, however, charges will be made for investment positions open past 23:59 UTC. Forex currency trading on Finexro for all forex pairs should be done between 21:5- 21:00 the next day. The USD/ RUB currency pair can be traded from 7:00 to 21:00. For trading precious metals such as gold, the available trading hours are set from 22:00 to 21:00 UTC. You can trade commodities and indices more freely because of the difference in trading hours across different countries.
· Customer Support
Customer support is an essential aspect to consider when looking up a broker. If you are new to the field, you may need more assistance than experienced traders. For that reason, users need to be able to rely on customer service personals to guide them. There are various ways in which brokers provide customer support, for instance, e-mail assistance, live chat, phone calls, and, social media interaction. However, not all brokers provide these services.
The customer support service was a feature that was a little underwhelming for me while using Finexro. The broker has a 14/7 live chat service available for the customers on their trading platform where the service providing agents are always active. They are all well versed in the functions of their website and provide accurate information on a range of topics. The firm can also be contacted via email but that will lead to a slower response than the live chat. Furthermore, you can also contact the broker through their social media pages.
The downside of customer support is that no telephone or offline support is available to the customers which may be unsatisfactory to customers with a complicated issue.