Migotrade Review – What Does this Broker Offer?
Trading is one of the most lucrative opportunities for people who are looking to make money. Most people are under the impression that you can trade in the forex market or the stock market, but there are a lot more options that the financial markets can present to you. The only way you will come to know this is when you decide to become a trader and do some research into the options available to you. It becomes apparent that there are a lot of possibilities for making profits and many traders have made their fortunes in these markets.
If you want to do the same, the good news is that there are not many restrictions to deal with. The trading world is open for everyone, as long as they have money to invest. However, the one thing that you do need is to find a broker. They are your springboard into the world of trading because they provide you the platform and the tools needed. Finding a broker is not that difficult nowadays because you can just use Google. It will provide you a list of options, but choosing one falls to you. It is not a decision to take lightly because you have to trust the broker with your personal information and your money.
Therefore, when you do find one, it is best to ask questions and dig deep into their offerings. Amongst the different brokers is Migotrade, which is based in St. Vincent and the Grenadines and was founded by Smart iSolution LLC. Specializing in CFD trading, Migotrade complies with the MiFID II (The Markets in Financial Instruments Directive), which means it is a properly licensed and registered broker. While this is certainly reassuring, you still need to understand their offerings to make a decision about them.
What Trading Instruments Do they Offer?
The first thing you should look at when you are considering a brokerage is their trading instruments. As mentioned earlier, Migotrade specializes in Contract for Differences (CFDs) and this allows the broker to give their clients access to a variety of instruments. You will find a plethora of options to choose from when you opt for this broker. This means that if your goal is portfolio diversification, you will have absolutely no trouble with it.
You can trade stocks, such as Amazon, Microsoft, Facebook, VISA and Aurora or you can try your luck with indices like S&P 500, NASDAQ, DOW JONES and DAX 30. If you are looking for safer investment options, commodities are the best way to go. Migotrade has added numerous commodities to their offerings, like gold, silver, cotton, cocoa and crude oil. They also have forex currency pairs, such as GBP/USD, EUR/USD, AUD/CHF, USD/JPY and NZD/USD. Cryptocurrencies are another instrument that you can find at this platform, including Bitcoin, Bitcoin Cash, Litecoin and Ethereum.
Which Trading Platform Can you Find?
Before you choose a broker, knowing what trading platform they have available is vital because your entire experience depends on it. Migotrade has chosen to offer their clients the SIRIX trading platform, one that is renowned for its innovative tools and cutting-edge technology. Despite that, traders don’t have to worry about a learning curve because it is a user-friendly trading platform that comes with one-click trading features. It has been integrated with custom trading indicators, charting tools and analysis tools. The most impressive addition is that of customizable trading actions that can help you in minimizing risks and maximizing profits.
What Security Infrastructure have they Established?
Knowing a broker’s security infrastructure is of the utmost importance because, as stated earlier, you have to trust them with your funds and your information. Migotrade is aware that with the increase in cyberattacks, traders have become more conscious. Therefore, they have put in some effort to establish a secure trading environment for their traders. The broker takes data protection very seriously and so, they have used high-end SSL (Secure Socket Layer) encryption to ensure all data shared with them is safe.
They do not share information with any third party and have used the best tools to keep it safe. In accordance with MIFID II requirements, Migotrade also has KYC (Know Your Customer) and AML (Anti-Money Laundering) policies in place. These are designed to prevent the broker’s platform from being used for illegal activities and financial crimes like money laundering or terrorist activities. These policies require traders to provide documentation to confirm their identity and residence.
Lastly, Migotrade also follows account segregation, which means they maintain their own accounts separately from that of their clients. The purpose is to ensure that the funds are only used for clients’ trading activities and not for any other reason.
What Kind of Customer Support is Available?
When you are new to the trading world, it is a given that you will have lots of questions about how things are done. You sign up with a broker and it takes time to understand everything and at this point, customer support can be very necessary. The problem is that not every broker in the market offers good support, but Migotrade doesn’t disappoint in this regard. Firstly, the broker has added an FAQ section on their website where they provide answers to questions every trader may have.
They also have a customer support staff that’s available 24/7 and you can reach out to them through different channels. They have provided an email address on their website, along with a phone number that can be used for urgent queries. Most importantly, they have a live chat option through which you can instantly talk to their agents. This allows traders to get immediate answers to their problems and not have to delay any of their activities.
Migotradehas also provided educational resources for supporting their clients that comprise of articles and blogs that they can use for learning the ways of the market.
At Migotrade, you can easily find access to the instruments you want to trade and the broker has provided their clients with a safe trading environment for profitable trading.