If you keep up with the news, then you already know that financial trading is all the rage nowadays. Cryptocurrency, in particular, has attracted the interest of people all over the globe and many have already entered the market in order to reap profits from it. With a multitude of financial instruments that can be traded, this market has enough opportunities for everyone to try their luck. The best thing about trading is that it is easily accessible, doesn’t have any such prerequisites and can be initiated even with minimal investment. There is just one basic requirement that you should fulfill; sign up with a quality broker.
Yes, you need a broker’s services to start trading, but this doesn’t mean that any broker would do. You need to understand that your choice of broker will have a huge impact on your experience at the end of the day. If the broker doesn’t provide good trading conditions, your costs will be high, and profits will be low. If they don’t have the right trading tools, you may not be able to make smart decisions and so on. The popularity of the market has brought an influx of new brokers, but only a handful can truly provide good and authentic services. Does MDX500 fall in this category?
MDX500 is also one of the brokers you will find in the market and their services come off as impressive on the surface. But, how can they help you get started in your trading journey? Find out below:
Step 1: Registering with MDX500
The first thing you need to do for using a broker’s services is to register with them. Some brokers can be very intimidating in this phase because they have a lengthy and time-consuming registration process. In contrast, MDX500 has kept it fairly straightforward for its clients. To begin trading with this broker, you need to complete the registration form on their website. It asks for:
- First and last name
- Email address and password
- Postal code
- Phone number
- Country of residence
- Account currency (EUR or USD)
- Confirming that you are 18 or above
- Agreeing to the Terms and Conditions
As long as you provide all these necessary details, you will not have a problem in registering with MDX500. They don’t have an approval process, so you are registered immediately.
Step 2: Choosing your trading instruments
After you have completed the registration process, the next step is to figure out what assets you want to trade. Obviously, the offerings of every broker will vary in this regard and you need to see what MDX500 has to offer to you. They have added more than 70 financial instruments to their asset index, which are from different categories. Traders have the option to diversify as much as they want, which can keep their risks low and their profits high.
You can choose from forex currency pairs, which include major, minor and exotic pairs. You will also find government bonds for trading in the market or you can invest in major indices from worldwide markets. Apart from that, MDX500 has also added numerous commodities that include energies like crude oil, agricultural items like sugar and corn and even precious metals like gold and silver. Most importantly, the broker has added the most popular trading instrument of all i.e. cryptocurrencies. You can trade Bitcoin, Litecoin, Ripple and Ethereum via their platform.
Step 3: Using educational resources
If you don’t have any prior knowledge or experience when it comes to the trading market, it is a good idea to learn and understand some basics. Everyone should know that education is the difference between a successful trader and a failure. Knowing how the trading world works and understand its jargon will help you navigate it the right of way. MDX500 has put together a huge array of educational resources on their website to assist their clients. This saves you from having to search for learning material and ensures you have access to updated resources. You can find videos, e-books, articles and other materials that can come in handy.
Step 4: Check the trading platform
Once you are familiar with how the trading market works, you should check out the broker’s trading platform. This is extremely important because this platform is used for trade execution and needs to perform well for you to be able to trade easily. MDX500 has added the Activ8 desktop trading platform that is powered by advanced trading technology. You can download it easily and enjoy a variety of trading tools and services that can enable you to have an optimal trading experience.
The platform is easy to navigate and comes with a ton of fundamental and technical analysis tools, live market news, price quotes of assets in real time, Expert Advisors, trading indicators, risk management tools including different order types and an economic calendar. In fact, MDX500 has also added the feature of copy trading, which allows traders to monitor expert traders in the market and copy their trades in order to profit from them. To further facilitate their clients, the broker has also added mobile apps for Android and iOS devices that can be used for trading on the move.
Step 5: Making your deposits and withdrawals
In order to make any transactions or to open trades, you have to deposit funds with MDX500. This means you need to take a look at what payment methods have been added by the broker. You can go with the traditional method of bank wire transfer, which allows you to connect your bank account directly. You can try debit and credit cards if you are looking for quick payment solutions. Similarly, online payment options like Skrill are also supported by the broker. The same methods can also be used for making your withdrawals later on when you have made some profits.
Follow these steps and you will be able to start your trading journey with MDX500 quickly and safely in order to take advantage of the opportunities in the trading market.