How to get into online trading with Tio Markets Broker?
Posted by Fareedkhan on March 26th, 2020
With the rapid technological transformation, in today’s time, people can purchase and sell products virtually. The act of buying and selling bonds, stocks/shares, forex, and various financial instruments leveraging digital means is known as online trading. Virtual trading can be done through a brokerage firm that has its trading platform for the traders. You need to understand the structure of the brokerage to drive potential benefits; otherwise, you will only end up losing your money doing online trading.
Know what Tio broker offers to a trader
Multiple account types
If you want to choose Tio as your broker for performing online trading, you should know that they offer three types of accounts or plans to the interested traders. Selecting one of the plans will help you transfer and receive money in a safe and secure way. The account types – Free account, VIP account, and VIP Black account. You need to pay a commission for each lot traded that differs depending on the type of plan you choose for online trading.
Relying on the Tio broker will help you to trade online using one of the two trading platforms that they offer. The two platforms are MetaTrader 4 and MetaTrader 5. MT4 is one of the best trading platforms in the world. It provides you high functionality, makes trading simple and stable, and comes with an easy-to-understand interface. You can trade without even downloading the desktop application. Apart from trading on the forex market, you can also trade on the other financial markets effectively by leveraging this platform. MT5 platform also offers a trader with all the advantages that MT4 offers. MetaTrader5 trading platform is available for all smartphone devices.
Sizes of trade
Micro lot is known as the starting size of online trade. On average, a trade usually remains between 50 and 100 lots.
The standard leverage available for online traders is 1:200. If you want to trade with significantly higher leverage, then the maximum leverage raised would be 1:500. You will get the facility to increase your leverage if you choose Tio as your broker for carrying out online trading activities.
Cost of trading
Depending on the type of account that you choose, you need to pay a commission for every lot you trade. If you choose the VIP Black account that Tio Markets broker offer, then you do not have to pay any commission as the subscription cost is significantly higher than the VIP and free accounts.
So, before you start your online trading journey, the essential decision that you need to make is choosing the right broker and checking out meticulously what they offer. Understanding the accounts, subscription model, and necessary aspects is essential to drive benefits successfully.
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About the AuthorFareedkhan
Joined: January 24th, 2019
Articles Posted: 16
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