If you’re looking for a new investment opportunity, the chances are that you have at least thought about investing online. However, you may be wondering if there are any risks associated with that and if so how big these risks really are.
Well, it is certainly commendable that you’re careful about this (after all, it’s your money that’s on the line), but online trading can be quite a lucrative endeavor, provided that you’re trading in a safe environment. And how can you find such an environment? That’s precisely what we are going to be discussing in the rest of this article. Read on!
1. Get Yourself a Legit Broker
In order to be able to invest online, you will need to find yourself a brokerage company. These are your link to the market and will provide you with trading platforms through which you can then open a trade and make an investment in a matter of seconds. Sounds good, right? Everything can be done from the comfort of your home, while you’re sipping a cup of coffee.
However, you need to be careful which broker you’re signing up with because scams have been known to happen. Not so much today as five or six years ago when people were still not sufficiently familiar with things like binary options, not to mention cryptocurrencies. Scammers would simply pose as brokers and ask their clients to send them money only to then vanish without a trace.
Today, the situation is different because many brokerage companies have already proven themselves to be trustworthy and have even acquired licenses from the financial authorities of the countries they operate in. Nevertheless, exercise a degree of caution when choosing a broker. It is perhaps best to sign up with a popular broker – that way you know you’re dealing with a serious company.
2. A Proven Financial Partner
One such company is undoubtedly IQ Option. In fact, many online traders will say that it is THE brokerage company to trade with. This is primarily because they have low financial requirements, but there are other factors to consider, as well. For example, every IQ Option scam test has yielded excellent results, and there is a consensus in the industry that these guys are as legit as they can be.
You can see that in numerous small details – their support team is excellent and very quick to respond, their platform is the company’s own invention, works absolutely flawlessly and can be tested for free by literally anyone, and there are many tutorials on the website to help you get accustomed to the way things work around here. On top of that, IQ is fully regulated, meaning they have a valid license to conduct their business.
Let’s not forget that you can also trade cryptocurrencies here, as well as plenty of other assets since the broker is always on top of the latest market trends. Therefore, if you have a particular niche in which you would like to invest, IQ Option will oblige.
3. A Few Things to Keep in Mind
Some brokers, even though regulated, have a few tricks up their sleeve you should be aware of. First of all, they will ask you to make a deposit in order to activate your account. This is fair enough, although some companies may ask 200$ or more. Fortunately, others (IQ Option included) ask for just a few dollars in order to attract a wide audience.
However, when you make a deposit, you have to be careful. If you are offered a bonus, know that this bonus will almost certainly come with a catch – you may have to trade a certain number of times before you can access it or something similar like that. Furthermore, some brokers may impose withdrawal requirements too, meaning that you may need to have a certain amount in your account balance before you can withdraw. Check these things thoroughly BEFORE making your first deposit.
That’s one of the reasons IQ Option is so popular. Because they only ask 10$ from you to get started, you don’t have to risk much. As a matter of fact, you can invest as little as one dollar if you just want to check everything out. You also don’t have to worry about withdrawals tricking you either because you can start withdrawing with just one dollar in your balance. Fair, right?
Another tip when it comes to choosing your broker is that you should pay attention to the trading platform they use. MetaTrader 4 is widely regarded as the best in the business, but some brokers opt to create their own trading environment. This can be a problem if not done correctly. Take a moment to check how your potential broker has decided to deal with this issue.
All in all, the world of online trading is much safer now than it was five or six years ago. The chances are that the broker you decide to open an account with will be a legit one. Still, be careful and research the company you want to do business with. See if they have the necessary license, what kind of platform they use and if they have any specific financial requirements concerning withdrawals. Also, by now, the best brokers have pretty much established themselves, so you can be certain that you’ll be in good hands if you choose one of them. A quick internet search will show you which companies to consider.
In the end, common sense and just a splash of caution should be enough for you to find a good broker and start investing online. Accounts can be set up in a minute or two, so you can start your new career as soon as you’re done with this article. Good luck!