Harnessing Beginner’s Luck: A Path to Sustainable Success in Forex Trading
In the world of forex trading, the notion of beginner’s luck is often met with skepticism. After all, the forex market is known for its complexity and volatility, making...
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It is absolutely imperative to review a forex broker, before you open a trading account on their platform. The primary reason behind this is the multitude of brokers that offer investment options to traders across the globe. It requires skill and knowledge to identify which broker would work for what kind of a trader or a trading strategy. Not one broker will be suitable for all kinds of traders.
In the world of forex trading, the notion of beginner’s luck is often met with skepticism. After all, the forex market is known for its complexity and volatility, making...
Those who are into trading must have come across eToro, which is one of the most popular multi-asset brokerage and trading platforms on a global level. There is no doubt in the fact that eToro is a top choice among traders throughout the world. But some traders may not find eToro a perfect match for their trading style, or they may be looking for a similar or better platform that they could try besides eToro for various reasons. Read More
The broker platform we will compare with eToro is Fxview which offers a similar line of services. We will conduct a detailed review of both platforms and see how they differ in terms of overall functioning and services.
At first glance, you will find eToro and Fxview to be pretty different from one another, as the first one is more of a cryptocurrency exchange /brokerage offering copy trading services in crypto, forex, stocks and other CFDs. In contrast, the second one is more of a traditional forex broker platform that also offers a bunch of other instruments for trading, including crypto, stocks, commodities CFDs and more. The scope of their services is quite the same as both platforms try to provide solid trading conditions and assistance to market participants. Both eToro and Fxview are popular for beginners due to their user-friendliness and responsive customer support.
If you look at the trading conditions offered, you will see that the pricing of Fxview is slightly more affordable than eToro as they don’t really charge any fees for withdrawals. The broker provides narrow spreads starting from 0.2 pips, and as commission, they charge $1/100k per side, which is also on the lower side compared to other brokers. So, if we review the cost-effectiveness of Fxview and eToro, then Fxview users surely have an edge as they will be able to save more in relation to trading costs. The spread of eToro alternative is 1 pip which is marked up high to make up for the commission-free trading offered. They also charge a withdrawal fee of $5, again a matter of concern for the investors and traders who habitually make withdrawals more often.
Talking about the technology, tools and features, both eToro and Fxview try their best to give users a superior trading experience using advanced technology solutions. Both have added innovative trading tools like automation and copy trading facilities to their services. The only difference you will see here is that eToro functions as a copy trading platform on its own, whereas Fxview users will have to sign up with another copy trading platform called Zulutrade to avail this feature.
Fxview offers 3 options for trading softwares: MT4, MT5 and ActTrader. Traders are free to choose between the 3 and can rely on any of these platforms for their preference. On the other hand, eToro doesn’t offer MetaTrader 4 as a trading platform but provides advanced proprietary software instead, which stands at par with Mt4 in terms of tools and features. Copy trading is one of the essential features provided by eToro, but manual trading is also possible on the platform.
Another important aspect you must consider while choosing a broker or trading platform is the execution mode. This is the technology the broker uses for placing and executing trades on behalf of their clients. Here eToro is a market maker, meaning they will decide the bid and ask prices of trading instruments. They have more control over the prices, which also means that the spreads can be more for the traders taking part.
But for Fxview, users can feel at ease as Fxview is an ECN broker and executes trades using an electronic communication network. The broker will not determine your prices, as they partner with liquidity providers to let you trade with competitive trading conditions. This actually results in lower spreads which also leads to lower trading costs. The ECN mode adds more transparency to the trading process as traders can see the prices at which their trades will get executed in real-time without the involvement of a market maker.
EToro offers 4 options for trading accounts: Personal account, which is mostly used by individual retail traders, Professional accounts, which works for traders who want to avail more leverage than what they get on retail accounts, corporate accounts, which is for businesses that want to participate in trading and finally swap-free or Islamic accounts which is a viable option for Muslim traders who wish to engage in Halal trading. In the case of professional and corporate accounts, the user must meet the criteria they set as they are specialised accounts for traders with huge capital.
Coming to the account types offered by Fxview, users can opt for a pure ECN account, where they get the benefit of trading with raw spreads and low commission, which is the only primary account type offered by the broker. But you can open a corporate account if you run a business entity and meet the requirements for such an account. They also give you an option for managed account services suitable for people who are interested in passive trading or wish to offer trading services to others for an additional income. Fxview is also one of the leading brokers for Halal forex trading, as they offer swap-free Islamic accounts for Muslim traders. Besides this, traders who wish to engage in copy trading can link their accounts with Zulutrade.
A bonus point that we want to mention in the review is that Fxview also offers VPS services at an affordable price which is something that many traders find useful, especially if they live in regions that experience frequent power outages and internet issues. VPS services benefit traders as they won’t have to worry about missing out on good trading opportunities due to technical issues.
To sum it up, Fxview and eToro do have a lot of differences, but at the same time, they have many similarities that might be appealing to users who want to find an affordable broker platform as alternatives to eToro. The cost of trading with eToro could be a turnoff for many traders, and Fxview could be a better option for getting rid of the added cost, thereby increasing your profit potential. Having said that, we also urge you to do your own research and make a wise choice that works for you.
Forex trading has gained major popularity over the years. Due to the introduction of various tools and trading strategies, many new traders who have little to no knowledge of the market are able to make efficient profits like experts. This has been possible by introducing various managed accounts that help beginners and experts strategise even with little knowledge of the forex market.Read More
Several managed accounts are available that traders can choose per their trading needs and strategies. One such managed account type is the PAMM account that traders increasingly use. But to have a positive trading experience, a trader or an investor must use one of the best PAMM accounts. This would ensure a smooth and hassle-free trading experience.
PAMM stands for percentage allocation management module. PAMM accounts in forex trading basically work on the basics of pooled money trading. In this type of account, investors permit the broker to assign their money to an account manager who manages other traders’ accounts. PAMM accounts in forex trading are a great way of utilising funds and simultaneously dividing risks across various investors. By using a PAMM account, a trader can earn considerable profits without having to trade himself. The managers administering PAMM accounts are known as fund managers and are entitled to a certain percentage of profit if their trade activities yield profits. Browse the following website, if you are seeking for more information concerning forex white label provider.
There are three participants involved in the setup of a PAMM account:
There are several benefits of using a PAMM account, and the probability of earning a considerable amount of profit from them is high. If you are hunting for more information on trading margin calculator, click on the mentioned above website.
A PAMM account also comes with certain limitations:
Some things should be kept in mind before investing in a PAMM account. A trader should do some research before opting for a manager and consider choosing the one with a majority of positive reviews and a track of successful records. A good PAMM manager should have all the required licensing and be regulated by a higher authority. The condition for trading through a PAMM account must be acquired through a bilateral policy between the manager and broker or the broker company. A trader can also secure funds by using various financial risk insurance policies.
Before selecting a PAMM account manager, a trader should consider some basic requirements. These requirements are essential for maximising profits and reducing the probability of losses to a great extent.
Thousands of PAMM accounts are available online, but which one to choose for maximum gain depends on various factors. A trader must work out certain criteria to pick out the best PAMM account manager for maximum return on investment. A trader should filter a PAMM account manager based on the working period, licensing and regulations, the minimum and maximum return on investment, recovery rate and share of profits. All these features are essential for selecting the best PAMM account manager for trading funds in the forex market. Choose carefully and wisely before opting.