The financial markets have always been a hot topic and this doesn’t appear to be changing any time soon. There is always some discussion going on about the foreign exchange market, stock market, and more recently, it is the cryptocurrency space that has been making a lot of waves. There are many lucrative opportunities these markets have to offer. As a matter of fact, some of the world’s richest people accumulated their wealth through trading in one market or the other. However, there was a time when entering this space was not that simple. There were numerous barriers involved, but all of this changed with online trading. But, what does this have to do with our Fivoro review?
To put it simply, online trading did eliminate the barriers to entry that existed in the traditional form of trading, but one thing remained consistent; the need for a broker. Even for trading online, you need the services of a broker because they are the ones that will provide you with the software that connects you to the financial market you want to trade in and provide you with the tools and features required for trading. When this digital concept of trading was first introduced, there weren’t that many options for people to choose from.
Things have changed drastically over the last several decades and the number of these online brokers is gradually increasing. With the launch of cryptocurrencies in the financial markets, the number of brokers has increased tenfold. This means that when you are thinking about trading online, you will not have to worry about limited options. But, this also comes with a downside. The number of companies that are providing their trading services is staggering and the time and effort required to sort through them to find the one broker to fulfill your needs is no piece of cake.
As a matter of fact, some people find this process so challenging that they abandon it altogether. Of course, doing so means that you would be giving up on the lucrative and profitable opportunities present in the financial markets and this is not exactly easy. So, what should you do? You have to check out the different options and select a brokerage that is capable of offering you everything you need in one place. Yes, such companies do exist because many people have used their services and managed to make their mark in the trading world.
The best way to go about it is by looking at an overview of the broker’s offerings because this will help you in determining whether their services and features are suitable for your trading needs. No, you cannot just rely on the opinion of others because every trader has different preferences and requirements. You have to consider your own priorities and then choose a platform that fits them. This is what needs to be done in the case of Fivoro, hence the review. It is a forex and CFD (Contract for Difference) broker that you will find when you begin your search for a trading solution.
A team of former traders got together and introduced Fivoro in 2015, as their goal was to create a brokerage that could solve all the problems that people face when trading online. They used their own experience to develop a solution for people to help them in having a smooth trading experience. How is it? The only way to find out is to have an overview of their offerings. Let’s have a look:
|Trading Accounts||Five account options including Solo Standard, Solo Diamond, Solo Gold, Solo VIP and Fivoro|
|Assets Coverage||Forex currency pairs, Stocks, Cryptocurrencies, Indices and Commodities|
|Trading Tools||Trading Indicators, Economic Calendar, Calculator, Signals, Live Charts, Technical Analysis Tools, Price Alerts and Risk Management Tools|
|Education and Training||Yes; e-books, online video courses, webinars, seminars, tutorials, latest market news, guides, margin trading and Glossary.|
|Customer Support||24/5 support via email address, online contact form, FAQ section and various social media channels.|
|Security Policy||KYC (Know Your Customer) and AML (Anti-Money Laundering)|
The Markets you Can Access
When you want an overview of any broker’s offerings, the best place to begin is their asset index. You need to know what financial markets you will be able to access via their platform because this determines the kind of profits you can expect to make. It is vital to remember that not all markets offer you the same level of profits because every instrument and market is different. Hence, your risk and return will depend on the options available. Likewise, there are some companies that prefer to focus on just one financial market, and there are also those that give you access to a number of them.
You have to decide what you want to trade, depending on how much risk you are willing to tolerate and the kind of profits you want to make. Once you have up your mind, you can search for a brokerage accordingly. It is necessary to check the asset index of a company because even not all of them will live up to what they claim. It is easy for anyone to make tall promises, but fulfilling them is a completely different ballgame altogether. The asset offerings of Fivoro are such that they attract the attention of every trader.
Whether you have a specific market in mind, or you want to diversify your trading portfolio, you will certainly like what you find available here. This is due to the fact that Fivoro allows its clients to access some of the world’s leading financial markets. They have put together such a diverse range of options together that you will have no trouble in spreading out your capital across different markets for minimizing your trading risks and boosting your profits. Regardless of your risk tolerance, whether it is on the low or high side, you will be able to find an instrument that fits your needs. What are the options available? You can check them out:
The Forex Market
If there is one market that’s renowned all over the world, it is the forex market. With a daily trading volume that is in excess of $5 trillion, it is safe to say that there is a lot of money to be made here. There are numerous currency pairs to be traded, including both major and minor options. Some of these include EUR/USD, USD/JPY, GBP/USD, AUD/NZD, USD/CAD, EUR/GBP and USD/CHF.
The Stock Market
Another financial market that is known for helping people in making massive profits is the stock market. It involves buying and selling stock CFDs of some of the world’s biggest companies and the names that you can find at Fivoro include Amazon, Alibaba, Tesla, Netflix, Apple and Nike.
The Indices Market
As opposed to the stock market, the indices market deals with trading baskets of stocks together, which makes it extremely lucrative. You will discover that Fivoro provides its clients with access to some of the leading indices around the world, including S&P 500, NASDAQ 100, FTSE 100 and CAC 40.
The Commodities Market
One of the oldest financial markets in the world is the commodities market and it comprises of a horde of instruments that belong to different categories. You can find hard commodities that refer to precious metals like gold, silver, platinum and copper. There are soft commodities that refer to agricultural items like wheat, coffee, sugar and corn. You will also be able to trade energy commodities at Fivoro and these include natural gas and crude oil.
The Cryptocurrency Market
If there is one financial market that has been making headlines in the last couple of years, it is the cryptocurrency market. As a matter of fact, most of the new bunch of traders in the financial markets have been drawn in because of these digital currencies that have become popular for their high volatility. As there is a heavy demand for cryptocurrencies, some of the top choices have been added by Fivoro to its asset offerings and these include Bitcoin, Litecoin, Ethereum, Bitcoin Cash, Ripple and Monero.
The Trading Platform for Use
After the asset index, the next most important offering of any broker that needs your attention is their trading platform. After all, this is the software you will be using for doing the actual trading in the financial markets. It connects you to the market, helps you in executing your trades and also provides you the tools that are needed for making decisions. It is the responsibility of the brokerage you sign up with to provide you with the trading platform you will use. There are different types of platforms that exist and companies can also develop their own solution.
Hence, it is your job to find out what trading platform you will be provided and if it is capable of doing everything promised or not. No, this is not an aspect you can compromise on because it will have the biggest impact on your experience and your profits. As aforementioned, the software has to be used for connecting to the financial markets, so it needs to be able to do that without any lags. Similarly, it should be able to execute trades quickly and without delays for you to be able to take advantage of any price movements.
The trading tools are just as important because, as mentioned above, you need them for making decisions and it is essential that you be able to make them in a timely manner. As the financial markets move quickly, it is not possible for people to process all information immediately and this is what tools are for. They help traders in processing the data and finding out patterns and opportunities that can bring them closer to achieving their financial goals. All of this will depend on what the broker offers to you and Fivoro doesn’t disappoint in this regard.
How? They have opted to develop their own trading platform for their clients, instead of opting for a solution that already exists. You will have a personalized trading platform given to you at Fivoro that can be accessed via their web browser. This means that you don’t have to go through the process of downloading, or installing it anywhere because you can access it on any device just by logging onto the broker’s website. This makes it extremely simple to access for everyone, which is a plus for beginners with no prior experience.
But, does this mean that the platform doesn’t offer you the same powerful trading experience that desktop trading solutions can provide? A quick look at the Fivoro trading platform will show you that they have made absolutely no compromises where quality is concerned. They have used cutting-edge technology for powering their trading platform and equipped it with some of the top and most advanced tools in the market in order to do so. They have chosen to keep the user-interface simple and easy deliberately, so every trader, whether a newbie or an expert, will be able to navigate it without worrying about a learning curve.
This can save you a great deal of time and hassle and allow you to get started as quickly as possible. One of the best features of the Fivoro trading platform is that it allows you to trade multiple assets through a single dashboard. You can connect to various market and trade the instruments of your choice, all in one place. The platform offers superior trade execution that can help you in capturing the smallest market movements and you can also take advantage of one-click trading.
As far as trading tools are concerned, you will find some of the best ones added by Fivoro and these include advanced charts and graphs that help track patterns, an economic calendar, risk management tools like different order types, price alerts, trading signals and custom indicators and the latest financial market news. In addition, as it is a web trading platform, you will be able to access it on the device of your choice, which means you can also enjoy trading on the move by using it on your mobile devices.
The Account Options to Explore
When you want to use a brokerage’s services, you will have to open an account with them. This has become the norm for any online service you want to use and is no different for online trading. Every company will require you to register on their platform and open an account. As there are no rules applicable to this process, you will find a different set of steps to be followed and the account options will also vary. You need to look at the account options that you will be given because they will determine if you have a comfortable and accommodating solution.
The deposit requirements of accounts vary, as do the features you are provided in each. Therefore, it is best to know what kind of account you can open and if it can suit your specific requirements, or not. If you don’t have a lot of room, it can make trading immensely difficult. One of the best things about Fivoro is that they have developed their services and features to cater to all kinds of traders in the market. Whether you are a beginner trader, an intermediate trader, or a professional, you will find an account that meets your criteria.
There are a total of five account choices for you to explore at Fivoro and all of them boast unique offerings and requirements. What are they? You can find out below:
Solo Standard: This is the first account you will come across and the minimum deposit for this one starts at $10,000. It is for newbies in the financial markets with no previous experience and provides basic education, leverage of 1:200, an account manager, a weekly market review, daily news, a 25% margin loan and a weekly portfolio progress report.
Solo Gold: The next account option is for beginner traders with some experience in the trading market and Fivoro has asked for a minimum deposit of $50,000 in this account. The margin loan is now adjusted to 35% in this account and it also offers trading alerts, along with a 25% discount on the commissions you have to pay.
Solo Diamond: If you are an intermediate trader, you will enjoy the Solo Diamond account provided to you. The minimum deposit requirement for this account is $100,000 and Fivoro has integrated some additional features to boost its appeal. First off, the margin loan is now at 50% and traders can have their account monitored by top analyst group. The discount on commission here is 35% and there is no withdrawal fee. You can also get an end of year summary from a tax specialist. A senior account manager is also provided, along with a daily portfolio progress report and weekly live streaming of trading webinars.
Solo VIP: The next account option that Fivoro has added is meant for advanced and skilled traders and they can make the minimum deposit of $250,000 that’s required for this account. Here, you are provided with some notable upgrades, which include a leverage of 1:300, a margin loan of 75%, daily market review as well as signals, a personal portfolio manager, invitation to VIP events, a managed portfolio, a 50% discount on your commissions, customized education, VIP advisor and daily one on one sessions with a top analyst.
Fivoro: The final account that you will be given at Fivoro is named after the company and the minimum deposit that has to be made for it is $1,000,000. This account offers 1:400 leverage, 75% discount on commission, 100% margin loan and unlimited access to brokers. A wealth manager is also available and traders can enjoy higher payouts, along with super tight spreads. They can now have access to live stream of a trading webinar on a daily basis.
The Various Customer Support Channels
If there is one aspect of a company that can have a huge impact on your experience with them, it is the kind of support they offer to you. This is particularly true where trading is concerned because the financial markets operate round the clock and you never know when you may have a question, or encounter a problem. After all, there could be technical issues with the trading platform, or you may not be able to make a deposit or withdrawal. Likewise, there are hundreds of other questions that you may have and you don’t want to wait for an answer.
The financial markets move quickly and even small delays can cost you significantly in the long run. Thus, you have to evaluate the customer support of a brokerage before you sign up with them because you don’t want to get stuck at any point. This is another area where Fivoro doesn’t give you cause for complain because they have added different channels that can be used for customer support. First off, they have created a whole FAQ section on their website where you can get answers to questions you may have about their procedures or services.
If you don’t find your solution there, you can get in touch with their customer support team via their social media channels. You will also find an online contact form that’s provided on the Fivoro website and it can be filled out for scheduling a callback at your convenience. Other than these offerings, a ton of educational resources have also been added by the broker to help their clients in polishing their knowledge and trading skills. There is a glossary, webinars, seminars, e-books and other material that can be immensely useful for everyone.
The Final Verdict
Along with these features, you will find that Fivoro also offers some of the best trading conditions, a secure trading environment and a variety of payment solutions that can lead to a good and easy trading experience for you.