Electrum24 Review

The financial markets have become the talk of town in the last couple of years, especially after the introduction of cryptocurrencies. There have been numerous headlines talking about the profit potential of these markets and how people are making fortunes within months. If you compare this with the other investment options out there, it is easy to see that none of them have the capability of offering returns on the same scale. Therefore, it is not surprising that many people have now taken an interest in these markets and are more than eager to pursue a career in them or simply invest as a hobby or for supplementing their income.

Due to the huge influx of traders in these markets recently, there has been an increase in demand for online brokers as well. After all, they are the conduit that connect you to the financial markets and provide you with the tools, platform and features that are all required for trading. Gone are the days when you needed experience and knowledge to begin trading, but you do need a broker and some money to invest in the markets. You don’t have to have a massive sum, as most companies allow traders to start small and increase their investment later on.

You can begin your search for an online broker much like you search for everything else nowadays; Google. When you do so, it will become apparent that there are a multitude of options that you can check out. But, it is vital to remember that not all companies are created equal. While some might be reliable, but there will also be shady ones that cannot be trusted with your money. The problem is that the choices can often be intimidating because they appear to be quite similar. Most people are unable to make up their minds and end up making the wrong choice, which can have long-term consequences.

So, what should you do? The key is to identify the reasons why you should sign up with a broker. Doing so will make it easier for you to eliminate the unwanted and shady options and will improve your chances of finding a company that can cater to your needs. Bear in mind that what works for others may not be suitable for you because every trader is unique and their requirements and priorities can vary. Knowing the reasons to sign up with a broker can simplify the process, so this is what you should do when you are checking out Electrum24. In this Electrum24 Review, you will see a lot to learn about the company.

Offering its services in more than 50 countries across the globe, Electrum24 is a European forex and CFD brokerage that was established only a few years ago and yet, has gained quite a reputation during this short time. In fact, they have established their offices in more than 28 countries and have more than 100 active traders on their platform. Their website is available in four languages, which include Greek, Spanish, German and English, allowing them to welcome traders from all around the world.

Take a look at some of the top reasons to use their services:

Reason 1: Impressive security and privacy policies

In today’s digital age, protecting your sensitive and personal information has become essential for everyone, along with keeping your money safe. The increase in cyberattacks has made this immensely difficult for people, so they are very cautious when they are using the internet. Signing up for a broker’s services means that you have to deposit your money with them and you also need to impart your personal data. If their system is compromised, you could become a target of cybercriminals. Thus, you should choose a brokerage that can provide you a safe and secure trading environment.

You will find that Electrum24 fits the bill because they have some impressive security and privacy policies on their platform. First off, they have opted for the internationally recognized AML and KYC policies, which are Anti-Money Laundering and Know-Your-Customer. In accordance with these, traders are asked to give proof of their identity and address in order to use the broker’s services. It prevents cybercriminals from signing up on the platform and can prevent identity theft, financial fraud, terrorist financing and money laundering.

The documents that can be submitted for proof of identity include a national ID card, a passport or a driver’s license and a utility bill, bank statement or credit card bill will suffice for proof of address. As this is all sensitive information, Electrum24 uses advanced-grade SSL (Secure Socket Layer) encryption for protecting it, which means even if hackers access this data, it will not be of any use to them. Their Privacy Policy dictates that no information is rented, shared or sold to any third-party without the consent of a user.

Along with these policies, you will also find that Electrum24 has opted for account segregation for its clients, which means that they do not mix their own funds with customer deposits. This is certainly beneficial because it ensures that there is no misappropriation and that your money is only used for trading purposes. The funds are kept with the leading financial institutions in Europe for security reasons and in the event the company may go bankrupt or discontinue its services, they will be returned to the traders and not used for paying off any of the broker’s obligations. Hence, you will be able to trade with complete peace of mind about the safety and security of your money and information.

Reason 2: Wide range of trading instruments

It is true that people have earned millions from trading in the financial markets, but they were only able to do so because they invested in the right instruments and made sound decisions. You can achieve the same, but first you will need access to these profitable and lucrative instruments. This means, you have to select a brokerage capable of providing them to you. Almost every company you come across will make you promises in this regard, but only a handful can actually deliver on these promises. Electrum24 is one of these because they have an asset index comprising of 1,500 trading instruments from different financial markets.

The brokerage promises its clients that they will be able to access various financial markets in the world in one place and it does deliver. At Electrum24, you will be able to trade the instruments of your choice and it also gives you room to spread out your investment as much as you want. This means that diversification is made easy by the company, which can help you mitigate the risks inherent in trading and allow you to earn maximum profits. The markets that you can access on this platform include:

Forex: Even if you don’t have much knowledge of the financial markets, you are probably aware of the forex market, where people trade currency pairs. There are literally thousands of currency pairs to be traded and the volatility of this market has made it immensely profitable. EUR/USD, USD/CHF, GBP/USD, EUR/GBP, AUD/CAD, NZD/USD and USD/MXN are only a handful of the options you will find.

Cryptocurrencies: While traditional fiat currencies have always been popular, digital currencies are also now making their presence known and there is a massive demand for these cryptocurrencies. The phenomenon began with Bitcoin in 2009 and hasn’t shown any indications of slowing down. You can trade Bitcoin, Litecoin, Bitcoin Cash, Ethereum, NEO, Monero and Ripple, amongst others.

Stock: Another financial market that’s quite well-known for providing people with lots of investment opportunities is the stock market. There are stocks of prominent companies that can be traded and can generate high returns. These include Apple, PayPal, Loreal, Allianz, Fiat, Microsoft, HSBC Holdings, Netflix, Google, Coca-Cola, AT&T, Amazon, Sony, Tesla and Aurora.

Indices: The stock market deals with stocks of individual companies, while the indices market involves trading a basket of these stocks together. This means that this option can be extremely lucrative and you can trade the top indices for the best results, such as NASDAQ, S&P, FTSE, DAX, Nikkei and Dow Jones.

Commodities: The most consistent returns that you can expect is in the commodities market because it comprises of instruments that have seasonal demand. Precious metals, such as gold, silver, platinum and palladium and known as hard commodities. Oil and natural gas are also quite consistent, as are agricultural items like corn, coffee, wheat, sugar and rice, which are defined as soft commodities.

Reason 3: Multiple account options

Every brokerage requires their clients to open an account on their platform first and then begin the trading process. This account will keep track of your trading history, your funds and other relevant information. Most companies don’t use a one-size-fits-all approach when it comes to accounts and offer numerous options to choose from. Electrum24 has also added multiple account options to facilitate traders with varying needs and preferences. You will find four options to explore, each designed for a specific category of traders. Check them out here:

Account 1: Bronze

You have to deposit a minimum of €500 for opening this account, which is ideally suited to amateurs and beginners. It comes with static spreads, a leverage of 200 and 0.1 minimal lot size. You also get an introduction to the broker’s trading platform, along with access to news feed and a financial calendar.

Account 2: Silver

The minimum deposit for this account is €5,000 because it caters more to intermediate traders. It also offers incentives like a 25% welcome bonus, increased lot size to 0.5 and partial access to masters.

Account 3: Gold

Seasoned and advanced traders will prefer this account option, which can be opened with a deposit of €25,000. It comes with a personal account manager to assist them, offers them higher leverage of 400 and the welcome bonus is also 50%. They receive full access to masters, analytical updates and the minimal lot size is 1.

Account 4: Black

This account has been developed by Electrum24 to facilitate professional traders, but it is only available upon invitation, which means you cannot directly sign up for it. There is a criteria that needs to be fulfilled to be eligible for this account. The Black account offers the highest leverage at 500 and features of all previous accounts are available here. A variable welcome bonus is also offered and the lot size is adjusted to 1.5.

Reason 4: Web and Mobile Platforms

How will you make your trades in the financial markets? This is possible through the trading platform that brokers offer to their clients and these can vary for every company. Electrum24 has developed their own web platform, which is a convenient option because it doesn’t require any form of download or installation. You can access it directly through their website and on any device that has a browser, making it quite flexible. With a user-friendly interface and a feature-rich environment, the trading platform can accommodate newbie and skilled traders alike.

Advanced order types, charting tools, technical and market analysis tools, economic calendar and trading alerts and indicators have also been incorporated by Electrum24 for assisting traders in the decision making process. Along with this option, they have also provided mobile apps for iOS and Android platforms that can be downloaded quickly and allow trading on the go. This means that you can trade from anywhere and be able to control your account easily.

These are some excellent reasons for any trader to use Electrum24 as their broker when they are interested in trading financial instruments.