The trend in the use of the various online brokers that exist today is on the rise. Over the years, digital trading for financial gain has ceased to be a practice of highly trained economic specialists, and more and more beginners are becoming interested in stock trading. In addition, online brokers in some cases allow people to start trading with low investments, a benefit that has brought people from different economic backgrounds together.Let’s see the basic principles of 70Trades.
Since the foreign exchange market is very large and unpredictable, in which there are no formulas that guarantee certain results, online brokers seek to solve these unpredictabilities by offering trading platforms with various analytical tools and investment products. The wide variety of assets to trade can be seen in the broker 70TRADES.
The functions of 70Trades
This stock trading broker allows users to always give them the opportunity to make a profit. By being able to select from a wide range of stocks, commodities, currencies and indices, users will be able to specialise over time in one of these products using the tools provided by the platform itself to learn the basics.
Novice users may wonder what these investment products are. The first thing to know is that shares represent the assets of a company. When you trade stocks, you are not actually buying or selling those assets, you are investing in the expectation that their value will go up or down. Among the most recognised stocks that 70TRADES allows trading are those of Apple, Facebook, Walt Disney, Citigroup, General Electric and Google.
- On the other hand, another of the basic notions that every beginner should know is which commodities are goods that can be traded on the stock exchange: in this case, people can invest in products such as gold, silver, oil, corn, coffee, copper, natural gas, etc. As in the previous case, when trading commodities on the stock exchange you do not physically buy the tradable goods, this means that the person who spent money on any of these commodities will not receive a delivery of gold or corn.
- As in the case of equities, commodity trading involves speculation on the market value of commodities.
Currencies on the 70Trades platform
In the case of currencies and currency pairs, this refers to the most traded assets in this market: the investment logic on currencies has to do with buying one of the currencies of the pair while selling the other. So, what are the currency pairs that can be traded with this broker? Some of the currency pairs that 70TRADES allows you to trade are EUR/USD, GBP/EUR, CAD/CHF, GBP/SEK, USD/PLN and NZD/JPY.
One of the specific interests of traders is the time zone in which they can trade. All 70TRADES clients, once they have registered and generated their account, will be able to access the global currency markets whenever they are open, i.e. from 10:00 PM GMT on Sunday to 10:00 PM GMT on Friday. Online trading in currencies and commodities can be carried out during this period. CFDs, however, have their own trading hours, which depend on the location of the market:
- The US CFD market is open from 2:30 PM to 9:00 PM GMT, Monday to Friday.
- The European and UK CFD markets are open from 8:00 AM to 4:30 PM GMT, Monday to Friday.
- The Asian CFD market is open from 0:00 AM to 2:00 AM GMT and from 3:30 pm to 6:00 PM GMT, Monday to Friday.
70Trades Market Conditions
70TRADES’ anti-delay policy is one of the most attractive features of this broker: it allows to execute spot orders at the price indicated by the client or, alternatively, at the price clicked by the client in usual global currency market conditions.
In the case of volatile global currency market conditions, users will be able to receive consistent bid or ask prices with fixed spreads. Spot orders can be executed at the price indicated by the broker. If you are interestd, You can view 70trades review here.
What is leverage like with 70Trades?
- Foreign exchange trading (Forex): 1:200
- Commodity trading: 1:200
- CFDs on indices: 1:100
- CFDs on Stocks: 1:10
- 5 Protected Positions: 1:20
What happens if a user has an inactive account for a long time?
This type of situation can be very common in the activity of a user. 70Trade grants a period of inactivity of at least three (3) months, during which the Company reserves the right to apply a fee of $500 thereafter, charged on a quarterly basis. If the client’s account contains funds of less than $500 and has been inactive for a period of three (3) months, the Company reserves the right to charge a lower amount to cover administrative costs and to close the account.
What are the deposit features?
70TRADES users can open an account with an initial deposit of as little as $200 and start trading immediately. Since 70TRADES accounts are denominated in US dollars, all deposits are converted into the user’s base trading account currency (US dollars).
Taken together, these features allow users, mainly beginners, to be confident that they are trading with a user-friendly, secure and reliable online broker that provides easy registration and start-up facilities.