Central Trade Review
Read our Central Trade review and learn why we recommend this broker for online trading. Central Trade is a great trading platform that offers features and services that suit traders from different backgrounds.
Central Trade Review
When you have been looking at online brokers for a while and haven’t been able to pick one out of the crowd, there is a good chance you are overwhelmed. After all, the sheer choices available can be mind boggling and most people don’t know how to find the one that will be the best option for them. Every expert you talk to will say that the choice of a broker will make a big difference in your trading journey and experience, but how do you swim through the sea of companies to find the one you need? The solution is really simple; you ask the right questions and make your choice based on the answers.
Asking questions is the ideal way to find out everything there is to know about any company, not just brokers. This will allow you to cover the different areas of their services, their features and offerings and save you from worrying about missing anything. Isn’t that great? You certainly want to avoid all of the scam and shady brokers that have snuck into the market and are trying to take advantage of people. Rather than falling for their big claims and advertising tactics, you can ask questions and then eliminate the ones that don’t have appropriate answers.
One fish that you will find in the sea of brokers is Central Trade, which has been operating in the market for a couple of years and is currently available in more than 50 countries. It piques your interest because it looks like a comprehensive solution, but you have ask questions in order to make sure you don’t fall into a trap. So, what questions need to be asked? Check out some of the most important ones below and get asking:
What can you trade?
The profits you make from trading will depend a great deal on the instruments you are trading. No matter how skilled or knowledgeable you are, or how much you invest, if the trading instrument is not profitable enough, you will not get the returns you want. So, it is important to know what you can trade with a broker before you move ahead. Central Trade has been quite attentive here because they have added more than 250 trading instruments and have picked them out from the world’s biggest financial markets. What are the choices? Take a look below:
The volatility of these digital currencies promise hefty returns to traders and you can choose from Bitcoin, Litecoin, Ethereum, Bitcoin Cash and Cardano, amongst others, on this platform.
If you prefer the traditional, Central Trade allows you to trade in the forex market, known as the largest financial market globally and comprising of tons of currency pairs. EUR/USD, AUD/CAD, GBP/AUD, USD/JPY and NZD/CHF are only a few choices you will find.
The stock market also offers the possibility of high returns and you can trade stocks of some of the largest companies in the world like Tesla, Amazon, Apple, Coca Cola, Alibaba, Pfizer and Netflix.
Rather than individual stocks, indices give you the opportunity of trading baskets of stocks and these can be quite lucrative. There are some leading indices added by Central Trade and they include NASDAQ, S&P 500, FTSE 100 and Nikkei 225.
You have heard of precious metals like gold and silver and these fall under the commodities market. Likewise, crude oil and natural gas are also available, as are wheat, coffee, soybeans and corn, amongst agricultural items. These all belong to the commodities market and are capable of generating stable and regular returns, making them a great option for balancing your portfolio.
How can you trade?
The what is important yes, but the how is equally so, because if you cannot trade properly, you will not be able to achieve your financial goals. The regulatory status, instruments and other features will cease to matter if a broker’s trading software doesn’t deliver. This platform is used for executing your trades i.e. opening and closing positions on various instruments, which means it needs to be functional at all times to allow you to capitalize on the market movements, as they happen. It also comes with tools that help in decision making, so it is something that makes a big difference.
Looking at Central Trade’s trading software is necessary and you will find that they have developed their own, rather than adding one of the already existing solutions. You get a web trading platform with an intuitive interface that doesn’t require any downloading. It is designed for novices and experts alike, which means there is no need to be concerned about a learning curve. Navigation is straightforward and the multi-asset trading platform gives you room to customize. As far as trading tools are concerned, there are plenty of them and quite sophisticated ones too.
You can tap into market analysis tools, advanced charts, live quotes and price alerts, a market calendar, the latest financial news and trading signals that make trading simpler and more efficient. The trading execution is fast, so you don’t miss out on any opportunities. Plus, Central Trade also provides mobile trading apps for Android and iOS ecosystems and they are the ideal choice if you want to trade on the move. It gives you flexibility and the app also boasts features and tools that can be quite useful.
What account options should you expect?
One common feature amongst all brokers is the account options they create for their clients. This is to accommodate traders of all levels, whether newbies, beginners, intermediate traders, seasoned ones or even professionals. While options are available everywhere, they are definitely not the same and their features, offerings and requirements vary. Thus, knowing what choices you have is a wise decision and you will discover five account options that Central Trade has added. These are a lot more diverse and extensive than other companies, which is a benefit. The account options are:
Designed for newbie traders, the Silver account asks for a minimum deposit of $250 and gives traders a 20% welcome bonus. You get 4 trading sessions in a month, leverage of 1:20, trading signals and may 10% in fees and charges on profits.
Beginner traders are accommodated with the Gold account option on Central Trade and it asks for a deposit of $1,000. The conditions change a bit here, as the welcome bonus increases to 40%. There are 5 to 6 trading sessions in a month, leverage reaches 1:40 and monthly cashback, money management plan, daily market reviews, one weekly managed session and one-on-one educational courses is available.
If you are an intermediate trader, you will find the Platinum account to be a good option and have to deposit $10,000 to open it. It gives you 8 to 10 trading sessions in a month, your fees and charges go down to 9%, bonus goes up to 60% and two to three weekly managed sessions are provided. A premium trading room is also accessible and leverage is 1:60.
More for advanced and skilled traders, the Diamond account needs a minimum deposit of $50,000 and they are provided with a leverage of 1:100. They can enjoy 12 to 15 trading sessions in a month and 4 weekly managed sessions. The fees and charges are now at 7% and the bonus at 80%.
The final account choice is for VIP traders and they have to deposit $100,000 to open this account. They are given a leverage of 1:150 and can have unlimited trading sessions. A bonus of 120% is also provided and the fees and charges are 5%. There are daily managed sessions also provided.
How do you make deposits and withdrawals?
When you are done looking at the account options, it is best to check their payment methods as well because you will have to make deposits and withdrawals on the platform. It is important to know how you will be able to do that because you want to be able to invest more money or withdraw your profits, as per your convenience. Central Trade also wants to facilitate you as much as possible, so they have added a number of options that their clients can use. You can go over the choices and pick one that seems safe, quick and reliable to you.
First, you have the option of bank wire transfers and Central Trade also supports SEPA transfers. If you are after a more modern and fast option, debit and credit cards can be used. The broker supports both Visa and MasterCard, which makes it easy for the traders. The processing time and the cost associated with each method will vary, so it is best for you to do a comparison and then choose accordingly.
Is there any support available?
Trading in the financial markets involves a lot of aspects and decisions and you never know when you might have a question about the broker’s services or feature. If it hampers your trading activities, it is not only inconvenient, but also frustrating because it can cause you to miss opportunities or increase your losses. Therefore, you want to get an answer or a solution as quickly as possible, but this will depend on the kind of support you are provided. At Central Trade, you will receive 24/6 customer support, which means you don’t have to worry about delays.
Furthermore, you only have to go to the Contact Us section of the Central Trade website to find that there are several channels that you can use for getting in touch with their team. They are ready to assist via email, if that suits you, or there is also an online contact form you can fill. For quicker answers, they have added a live chat option. You can also give them a call, as various numbers have been provided to offices in Australia, New Zealand, Belgium, United Kingdom and the Netherlands. You can also find an FAQ section, where answers to some common questions have been added.
Armed with the answers to these questions, you can sign up with Central Trade and begin trading, as per your preference.