By current rules, a private person cannot trade on the stock exchange. License required. Such permission can be obtained by brokers – legal entities. They then provide a private person with a paid service – representation. The scheme is simple. The question is how to find a reliable broker.
Signs of a reliable broker
Those who have been playing on the stock exchange for a long time have created their own list of requirements for an intermediary. Or you have already found a legal entity with which you have been cooperating for more than a year. And how not to get lost in a huge number of offers for a beginner? What to pay attention to? Let’s look at the example of Esplanade market solutions ltd.
What is important to pay attention to when choosing a particular broker:
- duration of stay in the brokerage market. This company has been operating since 2014. During this period, the brokerage firm did not participate in any scandals, strictly fulfills its obligations to clients;
- the size of the minimum deposit. This is important if you are just starting your journey in stock trading. Esplanade offers several programs for clients – with a minimum deposit and two types of spread – fixed (from 2 points) and floating (from 1.2 puts). For more experienced clients, programs with a deposit of 10 and 100 thousand dollars are offered;
- having a personal manager. Agree, it is very convenient when you have a personal consultant. In our example, a personal assistant relies on everyone who has more than 10 dollars on their account, and with a deposit of 10 thousand or more – in any case;
- trading instruments – 35 currency pairs, precious metals and CFDs, stocks, and commodities. But fans of cryptocurrency will not be suitable for the company in question. It is not in the list of available assets. And the most important thing that you will need to find out is the amount of remuneration for the services of a broker, the presence of hidden commissions. esplanade has no hidden fees. The company charges a spread from clients, the size and type of which depends on the program used. In addition, you will have to pay a fee for withdrawing funds, and bank interest for transfers.
Where looking for information?
Of course, each company posts only positive information on its official website. But those who start their trading journey need to see the big picture. Looking for information? We also recommend contacting reputation aggregator sites. Specialists of such resources carry out analytical work, place both pluses and minuses on the page of the corresponding company. Here you can get maximum information in a short time, and read reviews from other clients who have already worked with the company.
