The cryptocurrency market is quite promising. Indeed, these virtual currencies benefit from a growing craze with investors. Bitcoin remains the ultimate crypto, however, which offers many opportunities. To speculate on its course, simply contact a good broker. However, there are a multitude of them on the market to the point where the choice is often difficult. Which Bitcoin broker should you turn to? Find out in this article the answer to this question.
Choose a regulated broker to invest in cryptocurrencies
It is important to check the regularity of a trading platform before registering. You should put more emphasis on this criterion if you plan to speculate on a cryptocurrency like Bitcoin. This allows you to avoid being the target of scams fomented by some unscrupulous brokers.
Other points to check to choose your Bitcoin broker
Always to check if a cryptocurrency broker is reliable, you can also refer to other criteria like:
- The nature of the broker’s bank details (the details must be in the name of the broker, the account must not be domiciled in a tax haven…);
- The Bitcoin broker’s canvassing system (a reliable broker does not have the right to call its customers for example);
The offer of a free demo account and tailor-made assistance for beginners.
What to remember from this article on the criteria for choosing a Bitcoin broker?
To choose a reliable Bitcoin broker, you must first check the status of the latter with the financial market supervision authorities. In addition, for an optimal choice, you must check the information provided on its site, examine its canvassing system or even check the offer it presents to beginners.
Trading can be briefly defined as buying shares online and then reselling them, always online. To do it effectively, it is possible to have a broker, also called a broker. However, it is not easy to make a choice, given the number of brokers existing. In order to simplify things a little, we give detailed advice to operate the best choice of Xtrade broker.
Definition of what is a cfd
A CFD is by definition literal a Contract for Difference. In simpler terms, it is an agreement which aims to exchange the value of a particular financial instrument, between the moment when its position has been opened and the moment when it is closed. However, what characterizes CFD trading is the possibility of margin trading. Marginal trading allows individual investors to have the opportunity to buy more stocks than they can afford.
Standards to allow for when selecting the CFD broker
In order to make a good choice, you must first of all avoid Cypriot brokers. These are to be avoided because they offer no protection. They don’t offer any guarantees in case of bankruptcy and therefore you lose everything.
You should also analyze the balance sheets carefully. If the broker refuses to communicate its balance sheet to you, it is hiding something from you. Indeed, brokers in financial difficulties are seeking by all means to increase the number of their customers, in order to become attractive for purchases.
You must know the bank where your money is located and make sure that it is not a subsidiary of the broker. You must also make sure that the money does not pass into the account of a reassuring bank, when you make your deposit.