Getting started with a new FX trading platform is not easy as you are starting your business relationship with a company for the sake of profit. Trying the new platform can be risky as it can make you nervous and things can be troublesome in taking the first step of having the trading account with the broker. It’s a situation where you don’t know anything about the trading business and expectation is low too. It’s hard to trust the forex brokers as they come and go every year. You need to get through the below mentioned three steps that will help you find out the right trading platform so you can make money easily.
3 Ways by Which you Can Test a New FX Trading Platform
- Send the Test Deposit
It’s recommended not to spend all of your funds on a broker that you don’t know about at the beginning. Spending without knowing can be risky and can make you lose a lot of money. Spend the minimum amount to try out your hands on the software. The one benefit of spending a low income on the broker is, you can walk out of it any moment if you find any wrong thing done by the broker to a client.
It’s up to you what amount you want to deposit into your account. Suppose the minimum account opening price for the broker is $10 and you deposited $20, the deposited amount won’t affect you financially. However, if you put $1000 into your account, it could take 2-3 months of your earnings in one go. No matter what trading products you choose, your aim should be to deposit the initial funding.
It’s also a factor you must keep in mind that you are not trying to build your account but are testing your broker or trading platform. This is also done to stop the fraud caused by the demo account. Some brokers will offer you great services in the demo account but if you buy their paid account, services may change. Thus, you can uncover the deep trading secrets through this.
- Run Some Trades
It’s better to run small trades before you go for trades. Start by running the small trades. Do short term trades by testing the system. You can either test the stop loss with the trading funds or use the pending entries. Just have the profit out of it offered by the broker and that’s all. There are various questions that you need to ask yourself:
- Is the price promised for the account opening the same as written on the website?
- Are they offering wide spreads and how wide they are?
- Is the fx trading platform respecting your stop loss or do they get started quickly?
- Is the entry/exit process easy or confusing?
- What order types does your forex broker follow?
- Is your trading software trustworthy?
You will get all the answers to the above-asked questions once you deposit your money in the right forex platform. You will come to know the differences between the demo and real account with the answers of these questions.
- Try Testing the Withdrawal Section
So you have added your funds and you have executed some trades in the software. It’s time to test one of the most crucial steps in the money-making platform. The initial step you need in any of your trading products account is, see what withdrawal methods are offered by your broker. Popular websites offer you the option of perfect money, Bitcoin, Skrill, Visa, NE teller, MasterCard, Help 2 Pay and more. Try by doing some experiments with the withdrawal phase. Suppose you deposited $20 in your trading account, try taking back $10 from this account and take a withdrawal to your bank account.
This will help you know about the time interval it takes to get the money and the processing fee you have to pay for the withdrawal. You can also read their withdrawal policy in the terms and conditions section of the site. If you think that the withdrawal policy is diverse from what you have experienced practically, it means the software is fake; else it’s an honest one.
Get a Reliable FX Trading Platform Support Here
Finding reliable software for trading is crucial as having the services of a trading platform that is not honest may get you to lose money. There are various platforms available right now in the market you can take advantage of. Xtreamforex is one of the most popular platforms that will get you the support of the accounts from as low as $5 to as high as $20,000. Just see the site today to get the best leverage, bonus money, raw spreads, 24/5 customer support, funds security, fast deposits and withdrawals and more.
Make money online today by seeing the Xtreamforex site and earn as much as you can with this fastest-growing ecn broker.