Day: September 28, 2017
FxTrade777 is an online trading platform that doubles as a center for learning online trading skills. The FX trading company has over 8,000 registers users and boast of a trade volume worth $10 million. Below is an in-depth review of what this FX website has to offer to potential Forex investors.
Opening an account
Every client has to register an account with FxTrade777.com to begin trading. The online FX broker provides three trading accounts: a demo account, live account, and an Islamic account. A demo account is ideal for the new forex brokers wanting to learn the trade. One is not required to pay anything while they access most of the online trading platform’s features as well as markets.
A live account allows FX investors to trade in real money. There are 5 main live accounts traders can choose from: mini, standard, gold, platinum, and VIP accounts. These FX accounts are distinguished by their characteristics that target different groups of people.
A mini live account is the most basic of the five. FX Traders can open a mini account with as low as $250. They will have access to three currency pairs (EUR/USD, USD/JPY and GBD/USD) and commodities such as gold and crude oil. Withdrawal processes under a mini account will normally take between 3 to 5 days to be processed.
A standard account is a slight upgrade from the mini account. A trader in Forex is able to trade in all three currency pairs but the spreads are better. Money withdrawal time is reduced to 2 or 3 business days. The minimum amount to open a standard account is $1000.
The Gold live account is the most popular of the five. One requires a minimum of $500 to open an account. Withdrawal time is between 2 to 3 working days and traders receive market signals from the online FX broker free of charge. Platinum and VIP accounts both require a minimum of $10,000 and $25,000 to open. Money withdrawal time in both accounts will only take 2 days. The big difference between a Platinum and VIP account is that the former lacks a spread discount.
Online Trading Process
FXTrade777 uses the Meta Trader 4 platform to provide services to its clients. Meta Trader 4 or MT4 avails all the necessary trading tools and features to help FX investors learn and interact with the market quicker. Traders receive the necessary charting tools and market indicators to help make quick and accurate trading decisions. Additional features include the speed analysis tools that facilitate quick analysis of the market before making prompt trading decisions.
MT4 is divided into MT4 Mobile and MT4 web trader. MT4 mobile allows FX investors to access their accounts, trading tools, and the market in any internet-enabled mobile device. MT4 mobile is available for smartphones that run either IOS or Android. MT4 Web Trader creates a convenient platform to trade directly from a desktop. This can be any computer provided it has access to the internet.
FXTrade777.com trading academy is available for both new and experienced traders seeking knowledge on FX trading. One receives a free demo account which they will use to learn all the tips and tricks of the online forex market. The trading academy also provided free video tutorials and downloadable e-books. In addition, traders get one-on-one interactions with FX trading experts who answer all questions to the best of their knowledge.
The online FX broking website supports a variety of currencies which includes US Dollar, Pound, Euro, and Yen. Deposits and withdrawal processes will take at most 2 to 5 days depending on one’s account privileges. Cash transactions can be made via Visa, Maestro, MasterCard, American Express, Skrill, CashU, Neteller, Sofort Banking, and POLi.
Fx Trade 777 is one of the available Forex trading platforms you can find online. They not only provide access to the 24-hour currency market, but they also run an FX trading academy where they train newbie and veteran traders. The website support most of the major global currencies and their customer support is available in 6 languages.