MDX500 Review – Essential Things to Understand about this Broker
In the last few years, more people have ventured into the trading market than ever before. As a matter of fact, online trading has become a prominent global trend and this is because the financial markets provide people with a horde of opportunities to earn big and do it with minimal investment. It is one industry where you don’t have to worry about whether you have any experience or knowledge to get started. There is no one stopping you from making your entry, as long as you are ready to invest some money and take on the risks.
But, in order to trade, there are some choices that have to be made. The first one is about the broker you wish to use. Choosing a broker is of great importance. As a matter of fact, it is the most vital decision you make when you are just beginning your trading journey because it determines what kind of experience you have. If the broker is not a legitimate entity, lacks features, or is unreliable, you will not be able to trade peacefully and will encounter a lot of problems. Therefore, it is a good idea to do your homework before you make a choice.
You will come across hundreds of brokerages in the markets and it can often be overwhelming. In fact, most people just select a random broker because they are just eager to take advantage of trading opportunities. However, it is certainly not wise to do so, unless you understand some essential aspects of a broker. One of the brokers that are offering their services in the market is MDX500, which was established by a company located in Estonia, known as BlueData OU. What are the things you need to know about this broker? Let’s check them out:
This broker is regulated and licensed
If you know anything about the trading market, then you are probably aware that regulation and licensing can make a world of difference. A broker that’s regulated and licensed has to keep up with market standards and guidelines, which reduces the possibility of fraud and ensures that you can enjoy high-quality services. As stated earlier, MDX500 was founded by BlueData Ou, which has its headquarters in Estonia. Hence, the broker is licensed and regulated by the Ministry of Economics in Estonia, the Financial Intelligence Unit (FIU). This is not just a claim made by the broker because they have also shared the license number on their website, which can be used to verify it.
The broker provides a multitude of assets
Even newbie traders are aware that diversification is the most optimal strategy when you are trading in the financial markets. These markets are risky ones and diversifying can help in mitigating these risks because usually when one asset goes down, another goes up. But, you can only diversify if your chosen broker gives you enough options to do so. MDX500 specializes in CFD (Contract for Difference) trading and offers clients access to multiple markets.
You can trade in the forex currency market, which comprises of numerous currency pairs, including major, minor and exotic combinations. Some of them include USD/JPY, USD/CHF, GBP/USD, and EUR/USD. The broker has also added market indices like FTSE 100, S&P 500, Nasdaq, and Dow Jones to their asset list. Next up, you can find commodities including gold and silver, and even crude oil. A prominent asset that you can trade with MDX500 is a cryptocurrency and the broker lets you try your luck with Bitcoin, Ethereum and Litecoin, etc.
The broker has open trading conditions
One of the most crucial things that you need to know about a broker before using their services is their trading conditions. These include the commissions and spreads they charge, any other trading fee that’s applicable, along the leverage the broker can offer to you. It is important to know all of this because it has a direct impact on how much profit you will be left at the end of the day after you have paid all trading fees and other charges. Most brokers are not very open about their trading conditions, which is frustrating because you might have to deal with high fees and commissions later on.
This is a problem you will not experience with MDX500 because, as stated above, it is a licensed and regulated company. Hence, it is transparent and clear about its trading conditions and doesn’t mislead its clients. They are upfront about all the trading costs you will incur on their platform, and there is no possibility of exploitation. To start with, the broker does not charge any commission from its clients. Instead, they make their profits via spreads, which go as low as 0.0 pips. The spreads vary, according to the account type you choose. As far as leverage is concerned, they offer you maximum leverage of 1:30, allowing you to boost your trades.
The broker has a robust security infrastructure
A major concern in online trading is security because cyberattacks are quite common and no trader wants their money to be stolen or their information to be at risk. The only way to prevent this is by choosing a broker that has robust security measures in place. MDX500, fully aware of the security risks, has taken some notable steps. They use high-grade encryption technology for encrypting all website traffic and information accumulated from their clients. No outsiders are privy to this information.
Most importantly, the broker has kept traders’ accounts segregated, which means the money you deposit doesn’t go into the broker’s own accounts. It is kept in separate accounts, which reduces the possibility of misappropriation or mix up and allows you to maintain full control of your investment. Also, MDX500 verifies all traders before allowing them to use their services, for which documentation has to be provided.
Once you are aware of these essential features, you can rest assured that MDX500 can be a good partner for you in your trading adventures.