Forex firms came into existence to connect the seller and the buyer from two corners of the world and to remove the physical barriers. They had a lot more to offer apart from this and this is the reason why most of the traders got ready to seek their support. Initially, the idea of forex trading from home seemed like a very complex and hard to execute idea but gradually when people started using it they understood what good it could bring to their trade.
However, things got worse when fake forex firms made it to the market. They were and are on a single mission to loot and steal irrespective of anything. These fake firms are prevalent in the market to an extent that it has become hard to find a firm that can be trusted with the hard-earned money. I have been trading for a very long time now and every day I meet people who complain about how damaging they are. This is why I have decided to review my broker and tell you how to spot one that is there to serve and not to trap.
The first thing that we need to stress on is that you should all make sure that the firm you are about to pick is reputable. I have always believed that looking in the market is the best test to see if a forex firm is a good one. You should always ask as many people as you can about the broker. Make a list of all possible questions and shortlist the most relevant ones. Once done, go out looking for traders who are preferably customers of the broker. You can also look for the more experienced ones because they keep an eye on what’s going on around mostly. Once you have inquired enough, you should never ignore small allegations even if they seem fake. Always go after them and see if they are anything close to reality. This helps you avoid any future mishaps that can come your way.
NostraCapital is a very well reputed broker. Traders always think of it as a firm that can be trusted easily. It should be kept in mind that there are generally a lot of risks associated with this kind of business and that the firm cannot always be blamed for all sorts of losses. But if you talk about the broker then my experience makes me agree with what the traders told me back when I was researching for this company. You all should know that the smallest of news goes to the market and stays there forever. This is why we always look for what opinions traders hold about any platform.
Account freedom is a two-word term but there is a lot to this firm in reality. The first type of freedom that I want to discuss is if the users are allowed to access the account all the time. Yes, I mean 24/7. I have seen many fake firms restrict access of the owner to the account for some time. While the traders are told that the website is under maintenance, in reality, they are paving the path to massive robbery. You should never trust a firm that doesn’t let you be the owner of the account. Apart from access, this term also covers mobile trading. Mobile trading is being offered by many traders and that is a great thing because they understand that it is impossible for traders to carry a laptop with them all the time. One thing that I like about this one is that there is no need to make any external installations that eliminate the threat of viruses invading your devices. By this term, I also mean that your broker should let you explore and set you free in the vast world of trading. The more tradable assets they offer, the better it is for traders because this way you end up adding to your portfolio and in the time of need you can keep relying on different sectors for income.
Here at NostraCapital, you can keep trading with 24/7 access to your account. Although there are some times when the website doesn’t work because it is genuinely under maintenance. Otherwise, trading is not disrupted. Also, the mobile version of the website has a superior interface too and you need not instal an app or software. As for the Tradable assets, the firm offers more than 200 assets which are also great. Now you can say that you can use your account the way you like.
High-Risk Investment Warning
This is another feature that I see lacking in many websites of firms. It should be clear like anything in your mind that forex trading is not a 9-5 job. There are a lot of risks and it is this risky nature that keeps a lot of traders away from the area. If you are ready to take up the challenges only then you should make your first move. If a broker tells you that by joining them you escape or avoid all the risks then they are lying to you and you need to step back, while a trustworthy forex company will never say that. In fact, they keep reminding you of the risks, rights and responsibilities of the firm and the customer. One way to keep reminding you is by mentioning it as a disclaimer. You will find a disclaimer on the landing page of NostraCapital and it remains there no matter what section you are visiting. It clearly states that there are a lot of risks associated and some of them have nothing to do with the broker which is there to form a link and help you all out. I feel like this is one of the most important things that the young traders should be told.
Security System SSL
Do we need to shed light on the importance of security? Like we have already talked about the unpredictable nature of the area, you do not want to put more money at stake by not addressing the security issues. I have seen traders’ lives destroyed because their companies did not give them the best security. You should always go to a firm that keeps updating its security measures and puts in a lot of effort to maintain the standard.
I like how NostraCapital invests heavily in this area because I have seen that they run on one thing which is the trust of customers. Anyone can tell that they do not want to make a compromise on this area even if it comes at the cost of their revenue. The firm has introduced a Security System SSL (Secure Sockets Layer). This is an internationally accepted system that protects private information by keeping it encrypted. This system is an automated one and it has minimum human interference which is a great feature always appreciated by traders.
Areas to be improved
We all should be clear about the point that no broker can be free of flaws. Some of them have major ones while others have minor ones. We always try to look for the minor ones. Let’s have a quick look at the flaws that NostraCapital has.
Limited hours for trading each asset
I think there might be a solid reason behind this but currently, the firm will let you trade a given asset within a given time slot. After and before that you will not be able to trade it. Let’s say you want to trade crypto, and you can only trade it in the morning till 11. After that crypto trading would not be allowed and the time for some other assets would start. This is good in a way that you quickly trade with your fellows and you can easily analyze the trends but it gets hard when you have huge time zone differences. I think this should be worked on unless there is some other significant reason behind this temporary suspension.
No demo account or fake money
Young traders have little or no experience most of the time. Although they have been to schools and universities to study relevant subjects trading is a very complex procedure. This is why NostraCapital should consider giving traders demo accounts of fake money so that they can learn the basics before they enter the market formally. There are many brokerage firms that offer traders demo accounts or fake money and I have always liked this concept. I hope NostraCapital will look into this issue soon. Another thing that I have noticed online is that many brokers offer free accounts to beginners. I know that they offer way less than what NostraCapital does but still, we should try to facilitate the already struggling traders. The amount of the initial deposit and the fees should be either made even less or not charged.
Disclaimer: This review is written from my own experience and my self-knowledge only and this is not a recommendation.