Why you need to find a credible trading partner

MyPR: Why you need to find a credible trading partner:

Daniel Kibel, Founder and Director of CM Trading, talks about the importance of trading with a reputable firm.

23 June 2020: “These are difficult times and we need to be guarding our financial resources very closely. Making sure your money is in capable hands is a very important part of that. And that applies doubly for those of us who trade in forex and commodities.

“Of all the financial markets in the world, the forex market is the largest, and it’s easy to gain admittance into the arena as well. But with this ease comes the risk of fly-by-night brokers who are unable to manage their clients’ risk sufficiently, and even some scam artists who just take the money and run.

“A seasoned trader is unlikely to be taken by a scammer. They do generally target inexperienced traders. But whether you are a beginner or have some trading experience, the best way to protect your investments is by partnering with and learning from a broker that is established, reputable and has a proven track record in trading.

“Compliance with the South African Financial Sector Conduct Authority (FSCA) is paramount, as it puts a safeguard in place for client withdrawals and ultimately ensures that you maintain final control of your money, no matter what is happening in the trading environment.

“With a reputable trading partner, you can also capitalise on established trading methodologies that the broker will share with you, increasing your chances of making a profit. The “CopyKat” system, for example, is a tried and tested methodology that we employ at CM Trading, which essentially allows our clients to copy the market’s top 100 earners.

“This and other tested methodologies are non-negotiables that an effective trading partner should be aware of and make available to you. Your trading company should be able to supply you with an effective toolkit that prepares you to go out there and trade efficiently. These may include webinars, educated technical analysis and updates, signals, training material and more.

“Ultimately, it’s up to you to protect yourself by choosing a trading partner that offers you an effective trading and education platform that helps you become the best trader you can be. If any broker tells you that forex is all about chance, you should probably consider looking elsewhere; because while there certainly is an element of chance, knowledge and skill can mitigate your risks significantly – and it’s the broker’s job to arm you with that.

“I’m often asked what the secret to trading successfully is. And the truth is, it’s actually not a secret at all. Simply surround yourself with the teachers, resources and learning material you need to make educated choices whenever you trade, starting with a broker you truly trust.”

 

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