Trade. An old-world concept that has survived the test of time. Trade is one of the most important features of any societal civilization and without it there is anarchy. I remember the time I decided to pick up trade as my primary profession.
One of the best things about trade is that it offers amazing job security since the world cannot function without a trading system and it is very unlikely for something as universal as the entire financial market system to be automated. This review is about CVMarkets and how it changed my view of the online trading system.
I started my business as a conventional trader working for a brokerage firm whose primary business model was essentially bid on anything that pops up. Believe it or not, it worked although it was more luck than skill.
Conventional trading had its advantages but it also had a significant amount of drawbacks. For one it took a long time for any new trader to adjust to the market since the open market did not provide an equal playing ground in terms of experience.
It was at the beginning of my days as a trader that I tried to utilize a new system that had just been introduced as a potential replacement for this flawed system. It used the internet as its infrastructure which itself was a new thing back then. I tried it out but my experience was not exactly smooth.
The online system barely had any support and platforms that were verified by industry regulators and lacked the tools necessary to generate any revenue let alone increase the profit margin on an annual basis. Alas, I gave up on the online system back then due to it being in its infancy and barely having any wide support from established firms.
For a while, I stayed away from online trading platforms basing this decision on my experience. However, as technology evolved, the situation of online systems improved to a point where today, there are more online trading platforms than there are conventional firms specifically designed for trade purposes.
Sometime in the past, a friend of mine recommended I switch to the online system since it was the future of the trading marketplace. I was sceptical at first given my history with online platforms but I did eventually seek out online trading firms that would be a suitable replacement for my current habitat.
Now when I first searched for online trading platforms, I was handed a long list of search results and I did not have time to go through all of them. To find a viable trading platform that would help my business grow and promote beginners, I came up with a system that allowed me to better understand the requirements of an online trading platform and how I as a beginner on the online system will benefit from each platform.
After searching for a couple of weeks and testing out the tools available on multiple trading platforms, I settled with CVMarkets as my primary brokerage firm mostly due to the benefits it provides.
Here are the basic factors that helped me decide which trading firm would best serve my purposes;
- Educational resources
Table of Contents
Trade is essentially the exchange of money from one point to the other in the form of assets. These assets are catalogued based on accounts and the security of user data in such cases is of utmost importance. A trader’s ledger is what holds every transaction and bid taken place using a single asset and if it is left unsecured it can have negative consequences. This is why I put security as my top priority.
For me, online systems provide an extra layer of security as opposed to conventional methods. Online trading platforms used complex encryption protocols to secure user data thus making it inaccessible without the user’s approval. No third party can access it without the user being notified and even then it is up to the user whether he or she would like to sever any connection at any given time.
In my old firm, we used conventional security systems. These rely on legacy technology that is not just outdated but is also flawed. Online systems depend on high-speed servers that are protected by protected access points and therefore it is a lot more challenging to access an online account and even then it is highly unlikely for anyone outsider to utilize it without your knowledge.
After scouring the internet for a reliable security option, I came across CVMarkets because it was reputed for spending a huge amount of its revenue on keeping its security systems secure in terms of maintenance.
For me, a platform can have every tool in the dictionary when it comes to trading systems but if it does not offer a significant amount of assets then it is not worth the investment. Thankfully, I found a platform that offers a diverse range of assets from simple forex assets paired with indices along with company stocks, currencies and commodities such as oil.
A diverse classification of assets is the best feature for any trading platform since it improves my chances of increasing my profit margin by trading in different industries from a single account.
One of the deciding factors for choosing CVMarkets was the significant assets I had access to when it came to market expansion. CVMarkets offered the exclusive asset known as cryptocurrencies that many platforms claim to offer but do not support.
CVMarkets has a broad variety of cryptocurrencies that can be traded on their platform. Many mainstream cryptos are yet to be given a place on CVMarkets trading options which is sort of a downside but it is understandable considering that not all cryptocurrencies are currently stable enough to be traded with.
When it comes to supporting beginners, very few platforms offer support in terms of learning tools. I for one was completely new when I first signed up to CVMarkets. I had no clue on how to use what tool and when to use it. I couldn’t even find the option where I could place bids in many other platforms I tried out before.
However, my experience with CVMarkets was much more refined since this platform had a separate section specifically designed for beginners and professionals who wanted to learn how to use their platform to generate a healthy profit. Here are the resources I found most helpful during my learning period on this platform
The eBooks available on CVMarkets highlight the best uses of online trading systems to generate profits. I remember going to the education centre and selecting the ebook category to figure out how to trade with the assets I had access to after I completed my sign up.
Now as a trader I know that every asset has a specific detail that one must look out for to predict its future in the market which is why it was beneficial to learn from eBooks how to utilize the tools at my disposal in the online system. I only wish they would update their catalogue to include more detailed descriptions on how to trade with forex since it is an ever-evolving market.
The FAQ section contained the answer to almost every query I had when I first came across this platform. It saved me a lot of time considering it would have taken a lot longer to finish my signup if I had to contact support every time I had a question. I was able to go through my account registration quite easily thanks to the descriptions available in the FAQ section.
From my perspective, there is a missed opportunity where the platform can add another educational tool that describes the basic layout of the entire platform. While there does exist a system that helps new users navigate their way throughout the site, I believe it would be a plus point if an additional step is taken to accommodate more users.
Not all trading platforms are alike. Some are unreliable but a majority of them are trustworthy and I speak from experience. I did not choose CVMarkets because it was the only option, I chose it because it was the best option. It not only ticked a majority of my requirements but it provided a few extra features as well.
While there were some instances where I believe the platform could have done a better job in catering their product to the customer base such as expanded resources, more access to exclusive assets and overall market expansion, I still believe I made the right decision.
I do not need a platform that is perfect in one aspect and mediocre in others. I chose CVMarkets because it was accomplished in all aspects and it was actively making strides to better its services and attract more users to its platform. All in all, I am very satisfied with CVMarkets as my default trading platform and if I was given the option to go over my search all over again I am pretty sure I would land right back to CVMarkets.
Disclaimer: This review is written from my own experience and my self-knowledge only and this is not a recommendation