Do you want to earn some supplemental income? Are you thinking about a career change because you don’t see any growth in yours? In today’s modern and digital world, a lot of people are giving up conventional jobs and careers to opt for those that were previously only reserved for the most daring or adventurous people. Trading is an excellent example of such a career because not everyone has the stomach for it. If things go in your favor, you can end up making millions, but if things go in the opposite direction, you could end up losing a substantial amount of money.
Yes, trading is quite risky, but it also provides people with the perfect opportunity to achieve their financial goals. Online trading has become a trend because anyone can dip their toes into this world, as long as they have the funds to invest and are willing to take the risk. It doesn’t matter what background you have or whether you know anything about how the markets work; everyone can become a trader, as long as you are 18 and above. But, how? Where to begin? To start online trading, you have to find a broker and create an account with them.
Brokers are the ones that provide you access to markets and give you the trading platforms through which you execute trades. Without them, you cannot move forward and start your trading journey. Today, finding a broker is not very different from finding something else; you just run a search on Google and it will give you a ton of options to explore. There is a huge variety of brokers in the market; some specialize in a particular trading instrument like forex, some cater to a specific class of traders like experienced ones and others may have other kinds of limitations.
You will have to do some due diligence before you can find options that fit your criteria. But, even then, you need to be careful because there are scam brokers in the market as well. With the increased focus on trading and the ease with which people can enter the markets, it doesn’t come as a surprise to know that it has become a stomping ground for cybercriminals. These hackers and scammers are setting up fake brokerages to attract clients and make very tall and impressive claims in order to do so. Therefore, it is incredibly easy to fall for them and not realize until it is too late.
If you end up falling for this trick, you will be left empty-handed and your personal information will also be compromised. But, if you are careful and do the proper due diligence, you will be able to choose the best broker for your needs. Amongst the top options is the name of OBTFX, a broker based in St. Vincent and the Grenadines. It is a relatively new brokerage, but is gradually gaining a lot of popularity in the market due to its impeccable services. Take a close look at this broker in detail:
Overview of OBTFX
With the growing demand for reliable and legitimate brokers, OBTFX was introduced in 2019 to provide traders from different backgrounds with one platform to fulfill their trading needs. This broker does not discriminate on the basis of experience or asset preferences, which means that traders from all backgrounds and skill levels can use their platform. Whether you are a beginner or a professional trader, OBTFX is ready to cater to your needs. In addition, they have an extensive asset index so almost all traders will be able to find the trading instrument of their choice.
When you opt for OBTFX, you should know that the broker offers CFD trading i.e. Contracts for Difference. In this form of trading, you don’t have to purchase the asset in question and only trade in contracts that are formed on the prediction of the price movements of the underlying asset. Hence, this carries a lesser risk and is a lot more convenient and profitable. The broker has added a horde of tools and resources that can prove to be immensely helpful during the trading process, proving that they can provide you with the ultimate trading experience.
Enjoy the Quick and Easy Registration
The first step, which can often be quite daunting for the beginner, is the registration process of a broker. There are some brokerages that are notorious for their extensive number of forms and requirements that a trader has to fulfill before they can sign up. OBTFX doesn’t follow this trend at all as their registration process is fast and easy. There is only one short form that you have to fill by visiting their website and there are some documents that have to be submitted.
You will find the form right on the homepage of OBTFX’s website. It requires you to share your first and last name, email address, country of residence and phone number. You also have to choose an account password and then select the currency you wish to use for your deposits and withdrawals. Currently, the broker offers three options that are USD, Euro and GBP. Lastly, you have to agree to their terms and conditions and then you can get started. The documents that you have to provide as part of your identification are discussed below.
Security and Privacy Policies
With cybersecurity incidents surging in the last few years, security has become a priority for any business or company operating online. If you cannot protect your customers’ information or their funds, you will not be able to survive for long in the market. The same is true for a brokerage. Their job is to handle massive amounts of money on behalf of their clients, along with very sensitive information. If they are unable to keep it safe, their reputation will suffer and they will lose clients. OBTFX has no intention of doing so and this is apparent from their security and privacy policies.
To start with, the broker protects its clients’ funds by maintaining segregated accounts i.e. customer accounts and that of its own are kept separate. It uses some of the top investment banks in the market for depositing most of the money, but does keep some on the platform for managing customer transactions and its own expenses. Customer funds are only used for trading purposes and not to pay any of OBTFX’s obligations.
In order to keep all sensitive information safe, OBTFX has opted for 256-bit SSL encryption. Every single bite of data that’s entered on their platform is immediately encrypted to prevent any criminals from gaining access or misusing it in any way. Moreover, the broker monitors the website regularly and assesses all the risks to minimize them as much as possible. As it is a licensed and authorized broker, it is also required to comply with the Know Your Customer (KYC) and Anti-Money Laundering (AML) policies. These policies are designed to prevent any frauds or scams from happening on the broker’s platform.
Under the KYC policy, traders have to provide a copy of their valid passport, a signed history of their online transactions and a utility bill that shows their full name and their home address. Copies of these can be sent to the broker via email. As per the AML policy, traders have to provide scanned pictures of their credit or debit cards, if they are planning to use any, to the broker. In addition, the card or bank account they use should only be in the same name as the name on the OBTFX account. These measures ensure that only legitimate accounts are made on the broker’s platform.
Multiple Options in Trading Platforms
The software that traders use for executing their transactions via a broker is referred to as the trading platform. It is one of the most crucial aspects of a brokerage because problems with the trading platform can create a lot of issues for you. Trades may not be executed properly if the platform lags or you might not be able to take advantage of quick price movements if it breaks down. If the security measures are not up to the mark, your account may be compromised and so on. OBTFX has added three different kinds of trading platforms for the convenience of its clients.
The broker provides its clients with access to the MetaTrader 4 (MT4), the top trading platform in the market, which is preferred by global traders. This trading platform allows chart-based trading and allows you to modify, update and optimize your positions on-chart. You can download it easily on your desktop device and get instant response when it comes to trading signals and alerts. Most importantly, the MT4 is renowned for its excellent security measures, such as use of encryption for safe and secure trading.
If you don’t want to download the trading platform, OBTFX has added the option of WebTrader. As the name indicates, this trading platform can be accessed from the website and saves you from having to download anything. It can be fully customized according to your trading preference and style. You can use a number of trading indicators and tools without sacrificing the stability or speed of the trading platform. It also allows traders to split the charts for viewing the same market across different timeframes at the same time. In addition, it also offers the copy trading feature that enables people to copy the trades of other successful traders in order to benefit from their strategies.
Another option that OBTFX has incorporated in terms of trading platforms is the MobileTrader. This is a mobile app developed for iOS and Android mobile devices and grants a great deal of flexibility to traders. Regardless of where you are or what time it is, you can use your phone to log into your OBTFX account and open or close positions. The app is easy to navigate and is just as powerful as its counterparts, enabling you to have a seamless trading experience 24/7.
A Multitude of Trading Products
What is the point of signing up with a brokerage if they don’t allow you to trade the asset you are interested in? Never select a broker without taking a look at their trading products because you want to ensure they have what you want. There are a multitude of trading products available at OBTFX, which allows the broker to attract a great number of traders because they have something for everyone. When you opt for them, you can easily diversify your portfolio and do it while enjoy some of the best trading conditions.
At OBTFX, you can choose to invest in the forex currency market as they have added a massive amount of currency pairs for trading. Major, minor and exotic currency pairs are all available and most of them come with a leverage of 1:200, which is quite impressive. You can also dip your toes in the stock market, which can offer you consistent returns. There are more than a few companies in which you can invest with this broker and these include some prominent names like Amazon, Alibaba, IBM, Microsoft, Netflix, Nike, PayPal, Google and others. You can enjoy a leverage of 1:20 for trading most of these stocks.
If you are looking for something stable, OBTFX has added a range of commodities to its trading products, such as cocoa, coffee, corn, wheat, oil and even precious metals. You can trade as many as you want and benefit from a leverage of 1:50. Indices are another asset that you can invest in through this broker with the same leverage as commodities. It gives you access to indices like DAX30, FTSE100, NASDAQ, CAC40 and plenty of others. It is up to you to choose the combination of assets you wish to trade and you can minimize your risks and increase your returns as much as you like.
Different Trading Plans for Traders
As mentioned in the beginning, to use a broker’s services, you have to open an account with them. If you have done your homework, then you are aware that brokers typically offer more than one account options to their clients. Mostly, these trading plans are developed for a different category of trader like beginners, semi-skilled and professional traders. OBTFX has also come up with trading plans, but it has added a bit more diversity to its options because it knows that not every trader can be put in a specific category. There are a total of five account choices that you can choose from with this broker.
Green account is the first choice that you will find when you visit OBTFX’s website for opening an account. As the name indicates, this account is for green traders i.e. those who have zero experience. You need to deposit a minimum of €5,000 to open this account and in return, it will give you daily market updates and reviews, leverage as high as 1:50 and 25% company credit, as per terms and conditions. You can access the weekly webinar and also get a dedicated personal analyst to help you. The spreads are highest in this account as they vary between 2.5 and 3 pips. If you want to qualify for an upgrade, your turnover needs to be at least 25M.
The second option that OBTFX offers is called the Premium account and is for traders with a little bit of knowledge and experience. They have to deposit €10,000 to open it and can use weekly trade recommendations, a trade expert and access daily webinar along with e-books and get spreads between 2 and 2.5. The turnover has to be at least 75M to qualify for the next account. OBTFX created the Platinum account for intermediate traders as they would be able to deposit at least €50,000 to trade. You will receive daily trade recommendations, a premium trade expert and spreads between 1.5 and 2.
Under this account, you also get access to full academy plus analyst training. With a 100M turnover, you can move onto the next account option, which is the Executive account. This one is for skilled traders and so the minimum deposit is increased to €100,000. The trade recommendations are now hourly, a specialized trading expert’s team is provided and the spreads are reduced to 1 to 1.5 pips. Traders can now receive on-demand analyst sessions and open the Presidential account with 150M turnover. Here, traders have to deposit €250,000 and in exchange, they receive live recommendation feed, a custom loyalty points program, tailored leverage and a presidential expert’s team.
The spreads are the tightest in this account at 0.5 to 1 pips. Every time you achieve a turnover milestone, you are also provided benefits. Every single one of these account options provide a professional trading environment. If you have any doubts, you can try out the demo account offered by OBTFX. This is a practice account that comes with virtual currency and can be used for testing the broker’s trading platform and services. It provides a simulated trading environment, similar to the one you see in a live account and helps traders in becoming acclimated to the process. Along with these account choices, OBTFX also offers a swap-free account for accommodating Muslim traders.
Convenient Payment Solutions Available
Depositing and withdrawing funds are part of the trading process. To open an account, you have to fulfill the minimum deposit requirements and invest more for trading, if needed. During the trading process, when you make profits, you would want to withdraw them as well. Therefore, checking out the payment solutions offered by a broker is a good idea and you should do the same at OBTFX. Understanding that not all traders prefer to use the same traditional options, this broker has added various convenient options that can suit all kinds of traders.
If you prefer the conventional, you can use bank wire transfers for depositing and withdrawing your funds at OBTFX. The broker also supports debit and credit cards, which includes Visa, MasterCard and Maestro. They are quick and very convenient and you can use them without any hassle, as long as you have a verified account. Moreover, OBTFX has also kept up with market trends and added online payment solutions to its platform for its clients, such as SafeCharge. These are also a fast and hassle-free option that can come in handy.
In most cases, deposits are processed immediately, but withdrawal requests may require some time. OBTFX takes anywhere between 3 to 5 working days for processing a withdrawal request, but their aim is to do it as quickly as possible to facilitate their traders.
Comprehensive Customer Support Channels
To provide assistance to clients when they need and for resolving their problems, a customer support department is a must and OBTFX has not taken this lightly. To provide answers, they have provided an FAQ section on the website that has solutions to all frequently asked questions. In the event traders need further assistance, they can visit their Contact Us page on the website. Here, they will be given several channels to use for getting in touch with the broker’s agents and one can be chosen as per your own preference.
For urgent queries, it is best to opt for phone and a number is provided to you to reach out when needed. There is also the option of emailing the broker about your problem or you can just fill out an online contact form that they have provided on the website. No matter which option you go for, OBTFX has chosen a professional staff that will be able to help you in a friendly and timely manner so you can resume your trading activities without much delay.
Along with these features, OBTFX has also provided clients with a range of trading tools and extensive educational resources to help them progress in the market. Every trader, regardless of their experience, will have complete peace of mind as they will have a professional and secure trading environment at OBTFX.