So, you have finally decided that you are going to start an extra stream of income. Of course, when you have the option to do so, there is no reason why you should not do that. However, you have to make sure that there is a clear path ahead of you. You cannot step in the world of trading without having a clue about it. You have to make sure that you trade safely and more importantly, you have to pick the right broker who can put you on the right path of successful trading. What is it that you should be looking for in a broker?
Well, I have gone through the research that has taught me a lot about online brokers. For this reason, I consider myself in the position to tell you about brokers and help you with your trading decision. Today, I will be guiding you on one of the brokers that have impressed me the most with their trading services and care for their traders. I am talking about RedRock500 right now. This broker has been a great revelation based on the features that it provides its traders with. However, I will not waste your time with hollow claims. I will tell you each and everything that you should know about this broker.
Read this detailed RedRock500 review so you can have all the details you need to make up your mind about signing up with your first broker.
All You Should Know about RedRock500
Provides You with CFD Trading
The most important thing that you should know about this broker is that it is going to provide you with CFD trading. CFD trading lets you trade the assets of your choice without forcing you to purchase or sell those assets. So, if you are not buying and selling assets, what are you exactly trading? That must be the question in your head right now. Well, let me tell you that when you trade CFDs, you are trading contracts that allow you to trade the value of the asset that you are willing to trade. You trade the value that mimics the value of the real asset. You have to keep that in mind when you trade with RedRock500.
There are many perks of trading this way, and you will know about them as you continue to read this review that I have compiled only to help you with your trading decision. Do keep in mind that when you trade CFDs, like you will be trading with RedRock500, you can pick all your favorite assets and trade them from the same trading platform. If you are trading forex currency pairs, you won’t have to switch your broker just because you want to trade stocks as well. You can trade all these assets from the same trading platform.
Easy Payment Options
When you sign up with a broker, you open up a trading account, like you do with a bank. Of course, when you open an account, you have to fund the account with some money. In the case of the online broker, you have to deposit this money because this is the same money that you have to use for trading on the trading platform. The problem is that not all brokers think about your convenience when it comes to funding the account. They just want your money and nothing. They don’t realize that the depositing process can be quite annoying if they don’t pay attention to making it easy for their traders.
In the case of RedRock500, you will notice that the broker has made this process convenient for you in many ways. First of all, you will see it on many occasions on the website of this broker that you can deposit funds in your account without incurring any fees and charges. That’s much better than many other brokers that I have checked who charge you extra commissions and fees just when you are about to transfer money into your online account with the broker. In addition to that, they are stuck with the same credit card, debit card, and bank wire transfer options.
Yes, these options are available for you to deposit funds in your account when you sign up with this broker. But the broker has gone an extra step to make sure that you get exactly what you want. So, if you want to make payments safely but really fast, you can use the e-wallet option as well. That’s the option that’s going to help you a lot when you trade with RedRock500 because you can use a fast method that is also reliable.
The RedRock500 Trading Platform
The trading platform from this broker is definitely one of the best that I have experienced in my years of trading. There are many ways brokers can make their trading platform different, but this broker has focused on something completely different. If you go on the trading platform of this broker, you will notice that it is not about impressing you, which is the case with many other brokers. They keep trying to impress you with the cool features on their trading platforms, but they continuously forget that the most important thing for you is to trade easily. That’s what RedRock500 has focused on when you sign up on its trading platform.
This is no doubt one of the easiest trading platforms that I have been on. The broker has made the trading platform so easy that I think even a first-timer can learn and use it within minutes. In addition to that, the broker has made sure that it used its developers to create something that worked on all the devices. Many brokers are stuck with this challenge. They create a trading platform without realizing that there are hundreds of different devices in the world with different sizes. What happens is that they end up creating a trading platform that only works on a desktop.
On the other hand, the web-based trading platform that you will get from RedRock500 is something that you can use on any device you like. Since the trading platform is there on the web, you will be opening it through the browser on your device. It does not matter which device you have or which operating system is installed on your device. The trading platform will run with the same smoothness on every single device.
You will be surprised to know about this particular feature. I don’t think all the online brokers are currently offering you anything like it. Yes, I have seen some other big brokers with very popular names providing this particular feature. However, you have to agree that RedRock500 is among the best in the world in providing trading services because it thought about providing this feature to its traders. So, what is social trading? In simple words, social trading is the broker allowing you to copy the trades of other traders in the market. How does that benefit you?
Well, when you trade socially, you are in a community where you can see the profiles of many other traders like you on the same trading platform. The difference here is that the traders that you see on the trading platform have some of the most experienced traders as well. These are people who might have made millions of dollars in trading, so you can trust their trading decisions. When you sign up on a trading platform for the first time, this is the best way for you to get help with your trading decisions. You don’t have to solely rely on your trading decisions. Instead, you will only be copying a trader that you see on the trading platform.
Of course, you are able to look at the profiles of the traders. This allows you to know how good or bad the trader is that you are thinking about following. Once you have found the right trader, you can copy its trades and follow its trading decisions. If you have picked the right trader, you can make money without any effort.
Conveniently Sign Up
Do you know what it means to sign up with a broker conveniently? Well, you cannot know it if you have not found the right broker. The right broker will provide you with all the facilities and luxuries that it can to make the trading experience great for you. However, there are some online brokers who care about their money only. When you sign up with them, you find yourself in a system where you have to pay something for everything. When you deposit funds in your account, you have to pay them in away. When you withdraw funds from your account, you still have to pay them a fee. In fact, you have to pay them even when you trade with them.
That’s not the case with a broker that cares about its traders, and that’s what I think RedRock500 fully qualifies for. This broker truly understands that not all of its traders are rich. In fact, when a broker is online, traders can sign up on its trading platform from any part of the world. Many people are living in countries where they don’t make a lot of money. For this reason, they don’t have a lot of money when it comes to signing up with the online broker. If the online broker is fair, it will still provide a way for these traders to sign up on its trading platform and trade. That’s what I have found RedRock500 doing.
This broker has created only 3 different trading accounts, and I can tell you with confidence that all of these accounts are approachable by every broker no matter how much money they have. If you have a very small budget, you can go with the Micro account, which requires no more than $250 from you to start trading. If you go with the second account, which the broker has called the Standard account, you will have to spend only $5000 to start it. Even the most expensive account from this broker requires no more than $20,000 from you.
That’s something that I have found pretty surprising. I have seen hundreds of brokers and the most expensive and advanced accounts they have required you to spend hundreds of thousands of dollars for things that are not really that important for the trader. In other words, you never feel like signing up with them because they demand so much money from you.
Big Leverages Tight Spreads
How good you will feel trading with a broker depends on the spreads that you will have to deal with. Spreads tell you whether you will be making good profits on your trades or leaving all your profits with the broker. The broker has to make sure that you get the most part of the money that you make on your trades. How does the broker do that? Well, the broker has to lower its commissions, fees, and most importantly, spreads. That’s why you will see online brokers fighting about the tightest spreads. They are trying to tell you that you will walk away with the most part of your money when you trade with them because of their small spreads.
On the other hand, you have brokers that have some really huge and loose spreads. However, I don’t have to talk about them because right now, I am telling you about RedRock500, which I think is one of the most affordable brokers out there. This broker will let you trade on its trading platform with spreads as low as 1 pip. At the same time, the broker will not disappoint you when it comes to offering you good leverages on your trades. The leverages that you get from the broker increase the size of your trade, allowing you to make huge profits when you are successful.
However, not all the brokers out there will provide you with huge leverages. You should consider yourself lucky when you sign up withbecause when you sign up with this broker, you will be getting the maximum leverages of 1:1000 or even 1:1001. That’s something that should impress any trader in the world. I have seen many brokers that provide you with 1:100 leverage. I have always called it a huge leverage. However, I was proven wrong when I saw the details of the leverage from this broker. 1:1001 leverage means that when you trade with leverage, the broker is willing to contribute $1001 for every single dollar that you spend on the trade. Now, that’s what I call leverage.
Very Professional Accounts
When you sign up with a broker, you have to make sure that you get enough options to choose from when it comes to picking the right trading account. A right trading account is one that fits your budget with ease and gives you access to all the things that you think are necessary for trading professionally. So, I have to tell you that the trading accounts from RedRock500 are some of the most generous ones. The broker has taken care of details that many other brokers completely forget or ignore. For example, the broker has allowed you to open an Islamic account, in which you don’t have to deal with overnight interest.
Now, the best thing about this option is that the broker has not limited you to a particular account. You have a total of three different accounts that you can choose from. If you are looking for an Islamic account, you can pick any of these three accounts. That’s what makes the broker very special for me. In addition to that, the broker has also provided you with the feature of an account manager. Yes, if you are having trouble with your account or while making trades, you have the account manager at your disposal to help you with that. What impressed me the most about the trading accounts from this broker is the allowance for hedging.
What do you know about hedging? Well, this is a technique that you can use to minimize your losses. You can invest your money in two different assets that you think are in a correlation. You believe that when one asset goes up the other one goes down and vice versa. There are many brokers that don’t allow you to use this strategy at all, but as I mentioned, this broker is very generous. It has allowed you to use this particular strategy no matter which account you sign up with.
Many Assets for Trading
You have to give this broker the credit that it has brought the best of everything for you. When you sign up with a broker, deposit the initial amount in your account, and land inside the trading platform, the first thing you notice is the asset index. What you notice is how many assets you can invest your money in. The best sight is when you have a lot of different assets at your disposal for trading. If you don’t have all these assets available to you, then you can consider yourself stuck with only a couple of assets. This takes away the essence of trading CFDs.
However, I can tell you with surety that this broker has maintained the essence of trading CFDs on its trading platform. When you sign up with RedRock500, you will be able to trade not tens or dozens, but hundreds of different assets. These assets come from a variety of categories. You will be able to trade digital currencies if you are interested in the most popular financial market in the world today. In addition to that, you will have some great precious metals that you can trade with the broker. But that’s not it, you can trade indices, forex currency pairs, and stocks with the broker if you want.
You will be trading these assets on the same trading platform. In addition to that, you will have varying leverages with these assets, but you will not see any asset that does not come with leverage.
Understanding of Technical and Fundamental Analysis
There are two ways for you to predict whether the price of the asset that you are interested in will go up or down. You can’t just look at the chart and tell that. You have to go through some analytical calculations to get to that. The two ways you find out whether the asset will go up or down are technical and fundamental analyses. If you know about these two methods of analyzing the assets, you will know a lot more. However, there are so many brokers that don’t pay attention to giving their traders the knowledge they need before trading. They are only stuck with the formal and professional training that you can only take advantage of when you sign up with the broker and spend some money.
I can tell you for sure that you will not have to spend any money if you want to learn about technical and fundamental analysis with this broker. The broker has done the courtesy of putting all of that information right on the website. As soon as you land on the website, you will have this information available to you. You can read about the two different analytical methods so you can speculate and predict the prices of the assets yourself. You can always combine your research and analytical methods with some trading signals that you get for free on your trading platform to trade successfully.
The broker is always there to help you with your concerns when you need help. You have not one or two, but many different phone numbers on the website. You can always contact the number that best fits your query. With that, I have to say that the trading platform and trading conditions from this broker are some of the best that I have experienced with any online broker. Overall, I consider this broker one of the best compared to some other brokers that claim to be the best. Of course, the final decision is on your shoulders.