Cryptocurrency trading has blossomed over the past 12-months, providing an opportunity for many CFD brokers to offer crypto trading. iFOREX offers crypto trading to its customers and provides an efficient platform that provides education, training, technical analysis, and leverage. iFOREX makes the registering process straightforward. While there are plenty of bell-and-whistles, the forum is not cluttered with information; it allows you to find it without confusion.
Opening a trading account can be an adventure on its own. Forget about the challenges of trading the forex markets; some brokers make the registering process so cumbersome, you feel like you are reading to give up before you start. The “Getting Started” process begins at the tab that says, “Getting Started.” You will find two subtabs under this banner, including the registering tab (called “Getting Started” and the education tab. Educating yourself about your broker, the platform, and the markets themselves is where you want to begin.
Even if you are an advanced trader, learning about the platform is essential. The registration process describes specific information about you, including your name, email, and phone number. Once the company verifies that your domicile is in a country they can operate, they will offer you the opportunity to provide them with proof of identification and a way to deposit your capital. iFOREX provides several ways to deposit major credit and debit cards like Visa and Mastercard, along with Skrill and Neteller along with Wire Transfer. The education center offers a wide variety of information on topics related to trading. The material covers anything from “What Is” fill-in-the-blank to strategies that can be used to generate income.
Earning While You Trade
IFOREX backs the deposited money, and they provide a guaranteed return of 3% on deposits over $1,000. The list several criteria, including staying active, means that you have to engage in a specific trading volume. The account also has several good features, such as negative balance protection, which means that if your account is in jeopardy, iFOREX will help you liquidate your positions and not allow you to owe them money if your negative equity increases. This situation is helpful because you might not be able to make a margin call in the period required, and you want to be able to “live to see another day”.
Practice Makes Perfect
One of the best ways to learn to navigate the iFOREX platform is to trade the demonstration account before you begin to risk your capital. The demo account will be funded with 5,000 in demo money and allow you to see how your positions in real-time. You can transact the financial products offered by iFOREX and test strategies, and execute trades without the fear of losing real capital. The demo account will allow you to track your profit and losses as well as your balances.
You will also be able to see how leverage impacts your account. A margin account that provides leverage to you allows you to enhance your gains with borrowed capital. If you are approved for a margin account, you will have to post margin but increase the size of your trades based on money loaned to you from iFOREX. A demo account also allows you to forward test your trading strategies. Once you believe you have a strategy that will be successful, using backtested data or a discretionary methodology, you can test your investing technique using a demonstration account to see if it works in real-time.