In a crowded marketplace where there are literally thousands of brokers to choose from, it is advised to consider a few key features a broker will provide for its traders before depositing.
Always review what conditions a broker will provide to ensure you get the most out of your deposits.
What platform you will actually trade on will make a huge difference. There are many platforms out there ranging from simple buy/sell options on exchanges to platforms such as MT4 which offer more complex key features and a range of indicators. This all depends on what you want to get out of your trading experience.
The tighter the spread the better as this represents the cost of a transaction on a platform. Scalpers ideally need tight spreads as they will accrue the most trades and thus pay most commission.
Look for a broker which will provide a range of deposit options that best suit you. Better yet, a broker which facilitates Bitcoin as a deposit method to allow you to have rapid access to funds in your trading account.
Find out the frequency and methods a broker will offer. Bitcoin again will allow you to receive funds with 'minimal waiting time'.
High leverage will provide day traders with the best chances of making profits quickly. Find a broker that offers high leverage with no ongoing account costs. High leverage allows you to trade higher volumes with less capital.
A broker that provides round the clock support is essential when trading Crypto’s as the market is open 24 hours a day, 7 days a week. You never know when you will need assistance and you can trade with confidence with the backing of a dedicated support team.
If a broker offers cold storage, it means that your funds are stored completely offline from potential online threats allowing peace of mind that your funds are 100% secure.
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