How to choose the best cryptocurrency broker?
You can choose the most suitable cryptocurrency broker by using the rating from Traders Union experts. You can get information about the features of a broker by reading its profile. Also in the profile you will find the Traders Union referral link, and you can register using it.
Before you start working with a broker, you need to study the services and features that it offers. It is important that you get full information about the company before you decide to work with it. In particular, it is important to analyze the following information.
Reliability of a cryptocurrency broker
First of all, you need to learn the basic information about the crypto broker. It is important to know what year it began its operation. The older and more reputable the company, the better. You also need to learn information about where the broker is registered and the number of the registration certificate.
Financial license is the key factor in choosing a cryptocurrency broker. This is the most important document that ensures that the company complies with all reliability and safety requirements of the regulator for.
It is recommended to choose a company with a license from a reliable jurisdiction - the USA, EU countries (for example, Cyprus), Australia, etc.
Trading conditions
The second important factor in choosing a broker is the trading conditions, more specifically the fees. Read about the structure and size of commissions and fees. Fees may vary depending on the type of trading account. Therefore, check out the fee options for cryptocurrencies that the broker offers.
It is also important to evaluate the number of trading instruments, specifically the cryptocurrencies the broker offers access to trading.
First of all, these are the cryptocurrencies that the broker offers access to. Availability of derivative instruments, such as contracts for difference (CFD), futures, options, is an additional advantage. If you plan to trade instruments other than cryptocurrencies (for example, Forex, precious metals, stocks), look at what the broker has to offer in this respect.
Educational materials
Education is one of the key criteria for choosing a broker for novice traders. The more materials the company provides, the better. Companies may offer the following educational opportunities:
Video courses and tutorials.
Personal support of managers is a plus. Education can be paid or free. It is also important to pay attention to this when you are choosing a broker.
Analytics and news
Analytics is essential for effective trading. The more analytical materials and tools a company offers, the better. For example, a cryptocurrency broker may offer the following options:
Analytics by company experts and trading ideas.
Technical analysis tools on the trading platform.
Email newsletters and reports.
If you are planning to trade cryptocurrencies,choose a broker that offers digital assets analysis. However, it is much better when the broker offers analytics on other assets as well.
Customer support
The mission of customer support is to assist traders in case of any issues. The key criteria for evaluation of customer support are the operating time and the available ways of contacting the support. It is important to choose a broker whose support is available 24/7 or at least 24/5. As for the contact options, the following need to be considered:
Support through instant messengers - Viber, Telegram, WhatsApp, Facebook Messenger and others, is also a big advantage.
