This handy comparison guide will help you to find the best brokerage service for your trading style. Learn about the different styles of software available and how much leverage different brokers offer.
If you're looking to get into trading, you've probably noticed that there are a lot of brokerage options available. With so many choices it can be hard to decide where to get started. To help you get your foot in the door, check out this comparison of some of the leading companies.
The battle for the world's forex broker market share is intense. With so many companies vying for your business, it's no surprise that making a choice can be difficult. To make it a little bit easier, Tradiso has announced a comparison of Forex.com, XM.com, and Tradiso.com.
The brokerages' products have a lot of similarities - they offer trading in multiple asset classes (forex, futures, CFDs), and all brokerages provide an array of platforms for you to use (web-based or mobile). For the purposes of this article, we're going to focus on forex broker comparison services offered by brokerages; their product offerings are very similar, even though they may call themselves "broker" or "forex broker".
Before we can get started, we need to define what we're talking about.
What is a broker?
A broker is a company that, in return for an initial deposit, gives you access to the financial markets. They make money by using broker margins. These are used when you want to trade with leverage. The broker charges fees based on position size (e.g. $1 per 100). This allows you to have much more leverage while using a lot less money to buy. As an example, you could purchase $100,000 worth $1,000.00. This method lets you have big gains and big leverage even as a small investor. Forex.com, XM.co , and Tradiso.com all offer leverage to some extent. Visiting their websites will allow you to determine just how much each company offers. Tradiso.com is currently offering you 100:1 or up to 200:1 leverage if you have a premium account.
One of the most important aspects of a broker is the specialized software they offer. They all use either MetaTrader 4, MetaTrader 5 software, or both. MetaTrader is the industry standard broker platform and has been adopted by almost all of the largest brokerages. Nowadays brokers use the broker platform Metatrader 4 by default, but some still use MetaTrader 5 to differentiate themselves from their competitors.
MetaTrader 4 and MetaTrader 5 are programs you can use to trade stocks and commodities, and you can access them through your broker of choice. They can be downloaded and installed on your desktop, tablet, or mobile, and have lots of functions to help you with trading. Using the software you can buy and sell stocks, currency pairs, and cryptocurrency with the money in your broker account
Here are some of the features of MetaTrader 4:
-powerful automated features that allow you to make trades 24 hours a day, 5 days a week.
-gain insight into market trends using 85 indicators available with the desktop app.
-back-testing features allow for improvement with Expert Advisors.
-make educated and informed choices using the built-in analysis tools.
-Smart Trader Tools and flexible order types are designed to work with a wide variety of trading strategies.
-Control your positions efficiently using the software's multiple charts option.
If you choose a brokerage that offers Metatrader 5, you will also have access to:
-dozens of built-in indicators
-trading hedges
-calendar applications
-improved pending order functions
-operate 500 simultaneous orders
-more than 20 timeframes.
-upgraded processing power
-access to CFDS on the platform
-professional fundamental and technical analysis
-and perhaps the most important difference for the majority of users, access to cryptocurrency trading.
Tradiso offers both MT4 and MT5 - so you can choose the features that are important to you.
So why do brokers use broker platforms? They are the easiest way to make trades with customized features and options. Some brokers also offer a selection of other trading tools and charting software from the broker or third parties.
Tradiso also provides you with a software called Dt Pro, from a company called Market Makers Method. DT Pro is an excellent tool for predicting market flows. Depending on whether the market is trending upwards or downwards, it will signal you to buy or sell. The software uses algorithms created by Market Makers, which is a term for big banks and investment firms.
Tradiso.com is one of the few brokers that allows you to buy or sell nearly two dozen different cryptocurrencies - and fund your accounts using their simple user interface.
While Tradiso.com is not the only broker to offer crypto trading, you should know that you are only able to purchase limited crypto coins on MT4. Only brokers who offer MT5 software are able to provide more crypto coins trading as a feature.
Every brokerage will have a different set of features and options available, and the best way to find the right fit for your trading style is to try them out. The best brokerage firms will usually allow you to make a demo account, to try out their service before you commit.
When you're ready to get into trading, all you have to do is sign up to a brokerage and start investing. You'll be amazed at how easy it is - they make everything simple and straightforward so you don't have to spend weeks doing research first.
To get started with a demo account, go to https://tradiso.com
Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The Crypto market is high risk, with high-risk and unproven projects. Readers should do their own research and consult a professional financial advisor before making any investment decisions.
