The Best Forex Broker etoro the best company for Pakistan business community
A Forex broker is an individual who offers commercial and financial intermediary services to people who buy and sell currencies, commodities and indices. A Forex broker provides a trading platform to execute trades and may be regarded as a salesman of financial assets.
In today’s modern age, there are two types of brokers competing for survival: traditional brokers and electronic brokers. Electronic brokers can do the same trading what traditional brokers do but at lower costs. Another aspect in favor of electronic brokers is that qualities like anonymity and transparency are better guaranteed by electronic brokers. With the expansion of electronic brokerage, the response time for traders to new information is considerably reduced.
There are a lot of brokerage companies in this field. However, “etoro” is a prestigious company famous for its efficient electronic Forex brokers. The Forex brokers of “etoro” are considered the best not because they are efficient but because they are at “etoro” platform.
Before making your way to the forex market and making contact with any forex broker, it is crucial to understand who they are working for? They are employed by which company? Because the forex market is very competitive and with the availability of numerous brokers, the decision for selection of right forex broker can give you a major headache.
The basic characteristic of a good forex broker is the atmosphere of trust that surrounds him/her and this trust leads to security of financial assets. If there is no trust, you’re not going to hand over thousands of dollars to a person who simply claims he’s legit, right? And what makes a forex broker legit/right is the company that backs him/her and “etoro” is one that promises trustworthy brokers and secure investments.
Different sorts of trading accounts are offered by “etoro” keeping in view of requirements of clients:-
Live Forex Trading Account
Forex Demo Account
Standard Trading Accounts
Mini Trading Accounts
Managed Trading Account
Social Trading Account
Then there are two types of trading platforms that brokers of “etoro” suggest; trade market and etoro mobile. Both the platforms are superior to each other as both provide state of the art functions and accessibilities with zero tolerance in respect of time. Every up and down of the market is displayed in a real-time manner and a client can miss nothing.
For the convenience of clients, numerous types of methods are available for deposit by credit card, by wire transfer, by e-wallet, by Giropay, by different currencies, from a Business account or even by using a 3rd party payment method. All these deposit methods save the time and efforts of clients.
In the same way, withdrawal is also made really easy by ”etoro” through credit/debit card, PayPal, bank transfer, China Union Pay, Neteller, Skrill Limited UK, WebMoney or wire transfer. Withdrawal can be processed in maximum two days all over the world except for wire transfer which sometimes takes as maximum as five days. You can even cancel the withdrawal through your trading account.
With all the above-mentioned features of forex brokers, there are some pros and cons also and need to be considered by a potential client.
- Diversification guaranteed: With a professional forex broker handling your account is an advantage that cannot be undervalued. Moreover, if you want to diversify your portfolio and you don’t have this much of time, then this is the best choice.
- Low Costs: Forex trading can have very low costs as most forex brokers make profits from the spreads between forex currencies. Means, you must not worry about separate brokerage charges.
- Provides Varying Trading Styles: The forex markets run all day, thus enables trades to buy and sell at their convenience. This is very advantageous to short-term traders who also have other jobs and can spend only short durations. But those who are full-time traders can trade all day.
- High Liquidity: As far as other financial markets are concerned, the forex market has the largest number of traders available all the time. This availability ensures the highest level of liquidity, means even large sums of currency trades are done without any large price and time deviations.
- The possibility of low reward: It’s a common saying, with high risk can come high reward, but its opposite is also true: With low risk comes low reward. A client has to take high risks to gain high but these high risks sometimes result in low reward and subsequent bankruptcy.
- Tricky Price Determination: Forex rates are subject to multiple factors, mainly global politics or economics determine the forex rates. Getting the right interpretation of these factors in terms of forex rates is highly technical and any wrong results in huge losses.
- High Volatility: As no one has control over global economics and politics, so heavy losses are always expected in the highly volatile forex market. If something goes wrong in a country’s politics, people start selling shares and prices suddenly goes resulting in losses especially for small traders.
There are always two sides of a story and in this case, also we have described both the dark and bright side altogether. But to help our clients evade the loss from forex, we suggest the “etoro” with the best offers in the online brokerage business. “Etoro” is equipped with the most reputable, trustworthy and efficient brokers who are always at the disposal of its clients. If you want to explore the thrilling and risky world of currency trading, we will make sure that brokers of “etoro” can help you the best.