10Trade Options Review
10Trade, a Nicosia based binary options broker, has already emerged on the scene as one of the leading innovators within the industry. They are fairly new, but have a big following already.
Integrity and Security
This is a big point, and it should be one of the first things you look at in a broker. Is your money safe here? If yes, you can look at other things, but if not, don’t waste your time. Let’s look at the credentials.
10Trade is regulated by CySec. This is the biggest and most reputable regulator in Cyprus, which is one of the leaders in European finance, and this is a much stricter regulator than a lot of other binary options brokers use. On top of this, they have security and transparency measures in place to help protect your money as best as possible in other ways. All banking transactions are protected with 128 bit SSL encryption. These are some of the most high tech measures that can be used to protect your privacy and your money, so this site is about as safe as it can get.
This broker offers the normal trades–the call and put options, the one touch and 60 second trades. They also have ladders and pairs. If you want to trade long term binary options, they offer trades that can last up to the end of the calendar year, as well. There are brokers out there that offer these products, but not many offer all of them together. This is especially nice because they have low minimum risk amounts at just $10 per trade if you wish. The maximum amount you can risk per trade is $5,000.
10Trade offers a wide array of underlying assets. They have the big Forex currency pairs, stocks, indices, and commodities. They have over 250 assets listed on their site, including many that you won’t find elsewhere, including a lot of hard to find pairs. Some of these include Bitcoin, gold versus the euro, and lesser traded indices. This gives it a wide appeal to a lot of traders, but if you are not familiar with the assets they do offer, even with tons of assets that aren’t found elsewhere, this isn’t right for you. Asset selection is extremely important as it lays the foundation for everything else you do.
Creating an Account
Creating an account at 10Trade is fast and easy. You can use a credit card (Visa, MasterCard, Discover, or American Express), a wire transfer from your bank account, or one of a number of e-wallets (Skrill, CashU). You will also need to input your personal info, including name, email, phone number, country of residence, and your base currency. Because they are CySec regulated, they do not accept traders from the United States at this time. When you want to make a withdrawal, you will need to provide documentation to prove these things, such as a government issued ID card and a utility bill. They can be faxed over to their office to help expedite the process.
10Trade has an education section, which many people will find useful. Everyone needs to be trying to improve their skills as traders, and whether you use the resources provided here or look elsewhere is up to you. The benefits of using the offered information is that their is some platform specific data provided. You can get the guidance that you need to effectively use the platform, as well as beginner classes. They do offer advanced courses for their clients, but whether or not these will be useful to you depends upon your background, what your goals are, and whether or not you trust having education provided for you by the broker you are using. For the most part, 10Trade has a superior educational section, and this is a big plus for them as it keeps their clients in the market longer while establishing a stronger reputation. Still, this is a decision that you will need to make. The material is absolutely free for their clients to access, so there’s nothing to lose by at least checking it out and seeing if it fits your needs. This leads to a 10Trade demo account. If you request one, you may be able to get it after you make a deposit. Contact support about this.
Another thing to consider is their customer support. They are easy to contact, and have numbers for multiple countries. They also provide you with a live chat feature which you can use even if you are thinking of setting up an account to have questions answered quickly. This is a good thing to have if you ever run into issues. It’s not something that you want to have happen, but if it ever does, it’s good to know that help is easy to get no matter when you need it.
This is a great broker with a lot of appeal to many people. It’s not for everyone, but they do cast a wide net, and most of the people that use this broker are quite satisfied. In short, 10Trade is a new broker, but they are a very good one with their clients’ interests at the forefront of what they do.Read More About 10Trade Options Review