Electrum24 Broker Rating
Electrum24 is a recommended broker for cryptocurrency trading, the broker offers all of its clients an intuitive trading platform with good customer service. You can sign up in the link below or continue reading the full Electrum24 review to learn more about Electrum24.
Nowadays, many new traders and investors fall victim to devious brokering companies who take advantage of their naivety and inability to differentiate right from wrong. This is one reason that we write reviews, to save them from sharks who might want to have them. So, today, we will be writing an Electrum24 broker review, so that you can know all there is to the company.
Over time, trading has evolved from an open outcry to an electronic format. Technology has greatly aided trading in several ways. The advantages range from providing more liquidity, to lower fees and commissions, tighter spreads, easy market access. Consequently, many online brokerage platforms have erupted to leverage the benefits technology has to offer.
With the rise of online trading also came those who leverage the anonymity of the internet to rob people of their hard-earned money. Unfortunately, many fall victim to their unscrupulous activities due to information deficit. Therefore, the essence of this review is to stuff you with enough facts such that henceforth, you can make educated trading decisions.
It is not just enough to have refined investment skills but also to know which brokerage service serves you best. The one that aligns with your financial goals, experience and learning plans. To choose a good broker requires some due diligence from the investor as well. Newbies have to identify the broker that fits into their plans or they stand the risk of blowing their account.
While there is no sure way to guarantee income, choosing the best platform can go a long way to reduce unnecessary losses. Thanks to the advancement in technology, the barriers to enter the financial markets no longer exist. Therefore, anyone with an internet connection and enough fund can enter the market.
What is Electrum24?
Electrum24 is one of the top financial companies in Europe that provide its users with various investment and trading options. It is preferred and trusted by many because it lowers the barrier of entry into trading through its interactive platform. Hence making it an ideal choice for newbies and pro traders alike.
Electrum24 is a brokerage firm that provides various financial assets for both individuals and institutions to maximize profits. It has an incredible platform that allows traders to have access to real-time information to make proactive decisions. The firm also provides access to various financial markets such as Cryptocurrencies, Forex, ETFs, Stocks etc.
The account types are suited for different traders depending on the risk appetite of the investor or the investment size. It has a Strategy centre that can help customers design strategies to trade effectively in the market. The tools used on the Electrum platform are very accessible and when optimized, will help traders make the best of every market situation.
Financial Instruments offered by Electrum24
One attribute of a good broker is the ability to provide a wide variety of instruments and assets to trade from. The broker must be able to offer various asset classes and investment plans that will help the users achieve their goals. Therefore, the users should be able to conveniently trade whatever asset.
Electrum24 offers various financial instruments and products for its users. Some major financial instruments supported by the firm include Cryptocurrencies, Oil, Commodities, Stocks, Indices. Electrum24 gives users access to various financial markets to expand the potential of the traders making profits.
The firm has over a thousand registered traders and allows them to trade more than 1500 asset classes. With this, you can combine several assets to have a properly balanced portfolio to hedge against risks and reduce exposure to just one market. The analytical team of the firm also alerts users of potential gains that might occur in the market.
Trades on the commodity market involve the primary economic sector as opposed to manufactured products. This means that raw materials or primary products are the only kinds traded on the market. There are about 100 primary commodities that are currently traded on the commodity markets worldwide.
Commodities are either hard or soft depending on their properties. Hard commodities are natural resources that ate mined or extracted from the earth. Such commodities include rubber, gold etc. Soft commodities are wheat, coffee, sugar – products of agriculture or livestock.
Commodity trading is a way through which users diversify their portfolio, hence mitigating risks. products. Commodities are more stable over a long period and usually do not react to wild market movements. That is why investors include commodities in their portfolios to hedge against economic risks. The Electrum24 platform provides access to the commodity market where traders can transact raw or primary
The Forex market has the most liquidity of all financial markets. It is also the world’s largest market where users can trade currency pairs. It is usually referred to as FX in short and has a total estimated trading volume of over $5 trillion. The market is decentralized, that is, there is no custodial body issuing the currency or a physical exchange where you trade.
Users make profits by predicting the rise or fall of a currency against the other. The currencies do not exchange hands nor is there any physical currency being traded. The Electrum24 platform offers various currency pairs for traders at the best possible price. It provides users with lower fees; tight spreads, depending on the market condition; and fewer occurrences of slippages.
Lately, cryptocurrency is the new buzzword that has, without doubt, got the attention of large traditional institutions and investors. The flagship cryptocurrency is Bitcoin and has been gaining a wider acceptance among investors and the whole population.
Analysts refer to cryptocurrency as an alternative store of value and the new gold. However, there are existing conflicting theories about the theory. Many anti-crypto activists believe that cryptocurrencies are too volatile and risky to be used as a cash alternative.
However, the recent boom of Bitcoin tells differently and it reveals the increasingly growing interest in cryptocurrency. Many investors are converting their cash into cryptocurrency aa well. Electrum24 allows traders to trade and exchange their favourite coins.
- Stock trading
Stock trading has a long-standing history among investors and has survived many financial downturns. Issuing stocks is one way a company raises money to expand its business. Therefore, they represent ownership in a company and it’s a way through which investors can grow their cash.
Users can purchase the stocks of the top-performing companies on the platform. Investors can buy into the company, as in the traditional way of purchasing the Shares of a company and earn dividends in return.
Traders can also trade Stocks as a CFD (Commodity for Difference), to earn money through speculation. This means that users can make profits whether the market goes up or down.
The Trading Platform
The trading platform of Electrum24 is very accessible, providing various tools for users to have the best trading experience. Users can acquire mastery over the tools to efficiently navigate through the market. The platform also feeds users with live information to help them make informed decisions while trading.
Also, the team updates trade signals through the platform to help users trade rightly and make profits. The interface is easy and friendly such that it allows fast execution of trades with no time lag. On the platform, traders can have access to top instruments like Bitcoin, Amazon Shares, NASDAQ, Forex (EUR/USD), Gold, USOIL etc. The platform is responsive and a little intuitive.
With just one platform, traders have access to various financial markets. Users can customize the features of the platform by tweaking some attributes, like colour, to suit their trading rites. Electrum24 provides users with the ability to trade conveniently and in whatever way they see fit. Users have the comfort of either trading through the mobile app or web interface.
The brokerage company has more than 800 team members, who are devoted to the growth of the company as well as traders. The team consists of industry experts with in-depth knowledge in the financial markets who are willing to see users achieve their goals. They do this via their novel creation called Strategy Center.
The initiative was crafted by the firm’s best officials to offer their clients the needed financial knowledge to help them perform better. They always ensure that users get related information based on their level of experience. The team provides users with information to hone their extant skills and also upskill them.
Members of the team are quick to respond to customers’ issues and are always ready to help stuck customers. Our team interacted with their support lately over an issue we encountered and we were surprised they responded almost immediately. It was awesome knowing that the issue was resolved without any drag.
The company’s customer support runs 24/7, and users can access them by sending mail or through their Whatsapp contact. Like in the aforementioned experience of our team, the support centre of Electrum24 is responsive. The team does not lag in responding to situations that go beyond the scope of the traders.
Electrum24 is always commended for its active user support and has earned the trust of customers through its relentless efforts. The members have profound experience in customer relations and administration. They embody the principles of the organization: to be the first choice for clients by serving them relentlessly.
How secure is Electrum24?
The company identifies the need for the privacy of its users’ data and information. To the company, privacy means safeguarding and ensuring the non-disclosure of its client information to parties not affiliated with the company. The personal information of the client includes any information that describes the identity or the details of the clients’ personality or identifies the financial needs of the clients.
Some information released by clients might include the user’s names, DOB, postal address, email address, telephone number, driver’s license and all. The company may share the users’ information with its affiliated partners to know the kinds of products to recommend. This act is permitted by applicable law, which regulates the company’s use of private information.
The company ensures the security of its users’ personal information using the Secure Socket Layer (SSL) encryption technology. This technology shields the information of users from getting attacked during transmission. The brokerage firm makes certain that its websites are safe and protected from any malware.
Electrum24 uses other security measures such as passwords and a unique ID for users, firewalls, a control measure. This is to prevent any malicious apps and persons from interfering with the online activities of the firm and users’ data. The cards through which customers make payments are secured using standard Transport Layer encryption (that is, TLS 1.2), and an Advanced Encryption Standard ey length 256 bit.
In summation, the company ensures that the platform is secure enough to protect users and their funds. The advanced security system put in place to secure transactions is a state-of-art. The platform is proof against attacks and thus, users are assured that their funds, transactions and data are safe. However, users can as well take preventive measures to secure their data such as keeping their passwords away from the public eye.
The trading account options that are provided by each brokerage company are going to be different. Usually, brokers offer options to their users based on certain factors. Such factors may include the risk appetite, financial capability, prospects and level of experience of the investors.
What differentiates a good broker is that it understands the varying needs of the investors. Therefore, it offers investors different account structures based on their needs. These accounts generally have varying fees, benefits and structures.
Once most companies can identify the categories of investors there are, they tend to direct their services to meet the investors’ desires. What determines the account a user chooses are the financial goals of that particular client.
Electrum24 also affords its users the luxury of choosing from four different accounts, which are the Bronze, Silver, Gold, and Black accounts.
- Bronze Account
This is the introductory account of the Electrum24 platform. Clients who want to register to the platform through this account a required to deposit a minimum of €500. Users with this account have access to the news feed and financial calendar. The available lot sizes for this account are the micro lot (0.01) lot and nano lot (0.001). Also, the spread (the difference between Bid and Ask price) for this account is fixed.
- Silver Account
This account can also serve as the entry-level for first-time users on the platform. Account owners are entitled to about a 25% welcome bonus and access to masters partial. Some other benefits of the silver account include access to the news feed and the financial calendar. The available lot sizes are mini (0.1) lot, micro (0.01) lot and nano (0.001) lot. Users are also entitled to a savings account. The spread for this account is fixed and the minimum deposit is €5,000.
- Gold Account
This comes sequentially after the silver account. The account owner is entitled to about a 50% welcome bonus and personal manager. The personal manager guides the user in making the best investment decisions. With this account, the user also enjoys updates from the firm’s analytical team, financial calendar, and savings account. The spread for this account is fixed. The minimum amount required to open up this account €25,000 while the lowest lot size available for this account is the standard (1.0) lot.
- Black Account
The is an invite-only account and is exclusive to selected members. The spread for this account type is fixed and traders are entitled to a personal manager. The welcome bonus for this account varies and users can leverage up to 500:1, while the minimum lot size for the minimum account is 1.5. The account owner enjoys benefits like access to analytical updates, a news feed, a financial calendar, and a savings account.
The Electrum24 broker platform has worked its way into the heart of investors through its incredible security detail, interactive platform, incentives to users, and knowledgeable team.
Although, the platform is yet to reach its peak, considering that the firm is young, yet it has earned huge respect from its users. Because of the ethos of Electrum24, it has indeed served users with the best of its services.
This review has into consideration all the public information supplied by the company and also the experiences of previous traders. However, to know more about how to trade with the brokerage company, you can check their website for more information.