30 March 2020
A broker is said to be either an individual or a company that facilitates in providing a platform for trading wherein it organizes transactions between an individual and the company and charges a certain percentage of amount from the profit.
The role of Broker:
A broker is not an investor but the one who on behalf of its client buys and sells the assets.
Its role is to buy and sell the stocks, to undermine and evaluate the stocks or cryptocurrencies performance. To analyze and check the currency’s rates and update the client, to evaluate the profit and help its client to keep the money secured.
It is important to choose the broker for financial aid wisely. And at present, traditional trading has been replaced with online trading making it important to choose a much reliable broker.
Qualities in a Broker:
The broker should have certain qualities:
Guided and regulated broker
Should be a registered broker or be a licensed company
The reviews by the clients for the broker should be decent
The number of assets
The broker should be available round-the-clock
The number of transaction and payment method it utilizes
The investments should be rational and relevant
The safety measures laid out for the customers
The method or platform used for trading
Availability of free demo account
Professional support and service
Advantages and Disadvantages:
The advantage of aiding from a broker is an easy start, a newcomer will not really have to learn all the technical terms relating to crypto trading. Moreover, a broker is always much ahead, well informed and well versed than a normal trader. Brokers are benefited from leverage trading, they have advanced technical instruments, the trading speed is efficient, better guidance and regulation are assisted and there always is customer support.
The disadvantage of aiding from a broker is the price we pay as a fee charged by the brokers no matter whatever may be the outcome. Also, it is important to choose the broker wisely or it might just turn into a nightmare.
Ways to Find an Online Broker:
One of the obvious ways to understand and choose the broker is through the client’s reviews. However, it also relies on the location, region, needs or any such factor of yours to choose a broker.
Given below are few of the platform: