Forex Platforms that traders should use in 2021
As COVID-19 spread across the world and forcing everyone to stay indoors, most businesses are either forced to let go their employees to keep their companies afloat or shut down as they are not able to generate enough income to continue their business. However, forex trading has become more popular among businessmen to generate income as it allows them to trade with currencies outside of their own country. Forex trading is even more appealing in the modern era as forex trading platforms are able to develop applications for the iOS and Android to provide an easier access to their services on their smartphones which allows traders to not miss any potential opportunity. With forex trading being used more often than before, which platforms should these businessmen use to not only trade, but to generate income safely knowing that their funds will be used appropriately and able to withdraw without being at risk of being scammed? Here are some forex platforms in Malaysia that new traders can browse through before deciding to invest into trading according to Forex Malaysia.
AvaTrade is ranked number three in Forex Malaysia’s list as they are highly praised for being beginner friendly for traders who want to get into trading while being well regulated and has a low minimum deposit which allows beginner traders to invest into trading at a low cost. However, it suffers from having the lowest education and research among its competitors in the top ten list which provides insufficient education materials for beginner traders and they could suffer when they are trying to learn and understand more about trading.
Up next, OctaFX is ranked number two and it allows traders to create a demo account that lasts for an unlimited duration and provides an opportunity for demo account users to win prizes for accounts that have the most balance with conditions and prize vary on which contest they are participating in. Users of this software may experience some disadvantages regarding to education materials and account types as OctaFX has limited education materials and has restrict account types that forces traders to pick a specific account type.
Finally, FXTM Malaysia is ranked number one and is known for being the best for beginners as it is beginner friendly towards beginner traders by providing plenty of education materials for traders to catch up with the strategy to help them grow as traders. The accounts it offers may be limited, but it offers a variety of benefits that attract traders. It also supports cryptocurrency trading and allows their users to swap between platforms except MT5. It suffers from high withdrawal costs which could displease many of their traders.
Overall, each platform has their own advantages and disadvantages that could appeal towards certain businessmen. However, traders should know the risk when they are invested into the financial market business as the market operates 24/7 and it can be influenced by unforeseen circumstances which will cause traders to potentially take a major financial loss if they are not aware of the situation.
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