For decades, people have traded in the financial markets. They started small, but have now expanded beyond imagination and comprise of hundreds of thousands of instruments that can be traded. This means that there is no shortage of opportunities in these markets for those who are interested in making money. There was a time when doing so was not that simple, but things have changed significantly over the years. As online trading has gained traction, these financial markets have become easily accessible and brokers have played an important role in doing so. You can find numerous online brokers that are offering their services to those who wish to trade in the financial markets.
Why are these brokers important? They play a vital role in your trading journey because they provide the trading platform, tools and all other resources that a trader needs. How else will you trade? As online trading has become a major trend, it is not surprising that there has been a surge in the number of brokerages in the market. But, it is essential to remember that no two brokers are created equal, which means some due diligence is needed on your part to select the best broker.
One of the various options that you will find in the market is Eiro-group, a broker that was established not that long ago by HF and Company Ltd, which is based in Seychelles. This forex and CFD broker has developed a strong reputation quickly because it is regulated by the Financial Services Authority (FSA) in Seychelles. However, this doesn’t mean that it will be able to provide you with everything you require during trading.
The only way to find out whether it can do so or not is by asking the right questions. What are they? Read on to find out:
- What assets can you trade?
The first and most crucial question to ask about any brokerage is their asset offerings. As mentioned above, the trading market is full of instruments, but not all of them are the same. Some are riskier, costlier or more volatile than others. You would obviously want to choose an instrument based on your investment and risk appetite, but in order to do so, you need to ensure your broker gives you the freedom to do so. Eiro-group has put together more than 200 trading instruments on its platform, which belong to different markets.
This gives traders the opportunity to diversify and invest, as per their preference. As Eiro-group is a forex broker, you can obviously trade currency pairs via the broker’s platform, which include major, minor and exotic choices. The broker has also added the popular stock market to its offerings, which allows you to trade shares of leading companies. There are a range of commodities, both soft and hard ones, available. In fact, you can even find the more modern cryptocurrencies in the broker’s asset index.
- Is registration a problem?
Registering with a broker can be a daunting process for many, especially when there are approval procedures, contract signing and endless documentation involved. Eiro-group has followed no such protocol when it comes to their registration process. In order to register with this broker, you only have one form to fill and it is easily available on their website. More importantly, the form asks for very basic information, so it doesn’t take you more than five minutes to register.
The form will ask you to enter your first and last name, your email address, a phone number and also mention your country. You have to choose an account currency from EUR, USD and GBP and select a password you want to use for accessing your account. You will also be asked to agree to the Terms and Conditions, which are outlined by Eiro-group on their website. As soon as these steps are completed, you will be registered with the broker right away.
- Are there account choices available?
After you have completed the registration procedure, you would obviously want to select your account type. You first need to see if the broker offers any account choices and then check their options. Eiro-group has come up with five account choices for their clientele in order to cater to different types of traders. Whether you are a complete newbie, a beginner or intermediate trader or a skilled professional, there is a choice for you. There are five choices you will find, which are Essentials, Micro, Standard, Premium and Premium Pro.
The deposit requirements for every account is different, starting from $250, $1,000, $5,000, $40,000 and then $200,000. The leverage available in every account also varies and so do the spreads. Likewise, some features are available only in a few accounts like analyst sessions and invitations to exclusive events. Others like trading signals and dedicated CSM are available in all accounts. You can compare the different options and choose the one that works best for you.
- What kind of security is provided?
When trading online, you have to share your personal information, as mentioned in the registration process, and also deposit funds when opening an account. Therefore, you would want to ensure that the broker offers you proper security, so you don’t end up losing your money or having your identity stolen. To prevent the former, Eiro-group has opted for segregation of funds, which means traders’ accounts are kept separated and maintained in leading banks. It can prevent misappropriation and theft.
As far as information security is concerned, Eiro-group use high-end encryption and do not share your information with outsiders. They are also compliant with AML (Anti-Money Laundering) policy due to their regulatory status. This ensures that only legitimate accounts are created on their platform and identity theft or any financial crimes cannot be conducted.
Along with answers to these questions, you will discover that Eiro-group give you the top trading platform i.e. the MT4, great trading condition and reliable customer support to help you trade in the financial markets.