Trade is one of the most versatile industries of the world that has survived the history books. Trading has been developing ever since the first recorded history of civilization. Over the years trade has taken many different shapes but the crux of the industry has remained the same. It is essentially the exchange of assets that hold value in different regions between two or more parties. In the modern era trade usually takes place over transaction systems over the internet. Online trading is a new concept in the open market but it has taken up market share over the past few decades with millions of full-time traders shifting from conventional firms to online trading platforms.
I remember my first experience with online trading. It was when I first became a full-time trader and decided to switch my trading system to optimize my performance and generate extra revenue. Conventional trading techniques had their advantages but they also have a significant amount of drawbacks. They lacked security and required a lot of previous experience amounting to years before one could become a full-time trader. Therefore, it is only logical for online trading to spread like wildfire throughout the trading world.
When I first started looking for online alternatives for my trading business, I was cautious to avoid any unverified trading platform that was not authorized or registered according to industry regulators. When I searched for online trading platforms verified by financial institutions, I received countless search results. I developed my system to help in deciding which trading platform would be best for my professional bidding strategies and how each platform fared in terms of long-term support. This review is regarding my personal experience of using the online system via the London Gates’ trading platform.
I analyzed the economic system of online trading and narrowed down the core factors that are necessary for any trading platform especially considering that I would be switching my entire business model to be compatible with online trading. Here are the factors I believe helped me in choosing the best trading platform that suited my needs.
- Educational resources
- Account types
When it comes to exchanging billions of dollars, security is an essential factor that must be considered at all costs. One of the biggest issues I used to have with my previous conventional trading platform was the lack of security when it came to cataloging my daily trades. I always had to remain vigilant to ensure that my data was secure. In the case of online trading, I no longer have to waste my valuable time worrying about my sensitive data. My account is encrypted according to the security protocols London Gates offers its customers and so far I have yet to experience any significant drawback in terms of security.
London Gates’ data centers are regularly updated to keep up with the evolving technology and to ensure that all user data is kept secure and is inaccessible by any other third party without the user’s approval. I found it very appealing to a beginner because most other trading platforms do not grant the same services for new traders but London Gates is one of the few that is reputed for its beginner-friendly attitude in the trading marketplace.
Complete Access to Necessary Resources
I was new to trading altogether when I first decided to sign up to London Gates. I had prior experience in trading but it was not significant enough for me to become a full-time user on the online trading platform. I learned along the way using the educational resources available on the London Gates site itself.
I not only learned from these resources but I also honed my trading skills and perfected trading with exclusive assets such as Forex and cryptocurrencies. There are primarily two sections that outline the basic resources necessary for moving on with the account that I purchased and making bids using the assets provided on the platform. They are described as follows
The eBooks I went through when I first started in online trading were informative and had descriptive techniques detailing how to trade with particular assets that require a certain level of skill. Trade does not consist of simple bids rather it contains various procedures that must be undertaken to optimize a trading system. Even then it takes dedication to increase the net revenue from trading with assets and generating a profit. One way the platform can improve this service is to offer more eBooks that provide an in-depth description of how to trade with new assets and how to strategize a game plan for trading in the open market when the markets are active.
One of the most important sections of this platform for me was the FAQ section. It guided me through the initial sign up process. While the option for contacting the customer support team was also available, I preferred the FAQ section since it saved me a lot of time. The support services are good and useful but asking questions whose answers are readily available in the FAQ section seemed redundant.
All things considered, the educational resource section has been very critical in my journey to mastering the London Gates trading platform. While any additions would be a plus for this section, I am grateful for the high-level support there exists for beginner level traders on this platform.
Variety of Choices
One of the best things I found about this trading platform was the diverse selection options available for all types of traders. Whether they were beginners just starting the trading business or professionals who were simply switching platforms, London Gates catered to the majority of the population with its wide range of account types. The primary account selections available on the London Gates website are described as follows;
The basic account type includes some entry-level access tools in a package that costs a menial $250.
This option includes every basic tool from the self-managed type with a couple of extra add-ons such as asset management, bonus funds, risk management planning, minimal access to webinars, level withdrawal access along 1.5 pips for spreads. It comes at a price of around $10,000 which results in a good price to performance ratio in terms of profit margins.
Similar to the select package, these options offer users spreads from 0.5 pips, level 2 withdrawal priority, tier 2 room analysis and respectable leverage of 1:300. The choice for weekly webinars is also included in this package for an overall cost of $50,000.
When it comes to professional accounts that only a certain number of experienced traders can access, the honours account type is the best choice. It comes with 0.0 pips and also offers access to VIP events catered for professionals. Honours account holders are also allowed access to weekly webinars. The total cost for this account type is around $250,000 which is a lot less as compared to other platforms.
- Wealth management
This account type is the all in one option where users can expect to receive the best treatment on the platforms by the account manager.it offers continuous access to news relating to trading and also offers custom algorithms that are useful in bidding against assets in the open market. This account type does not exactly have a price tag. Rather it requires a reference or a formal invitation from a member of the group or the account manager to sign up for this option. Needless to say, the initial deposit will correspond to the services provided on London Gates via this account type.
While the services provided were flawless, there was a time when the account manager would be busy and was unavailable for queries. However, it did not hinder my experience in any significant way.
A trading platform is useless if it does not provide quality assets that are hot in the open market. It is very unlikely for a trading platform to succeed if it does not offer exclusive access to certain tradable assets. London Gates is known for the wide range of assets offered to users. The primary assets that can be traded using the custom tools available on this platform are Forex, indices, commodities, currencies, company stocks and the most exclusive of them all, cryptocurrencies.
Crypto is a relatively new addition to the online trading system but it has shot up in recent years and is one of the most sought out assets in the world.
Online trading is the future of the trading system and as a full-time online trader myself, I believe it is best to choose the online system over the conventional trading practices since the advantages of online trading are vast as compared to the conventional techniques. For me, London Gates has proved to be a satisfactory choice indeed with varying features that have helped make my trading ventures easier and more efficient. You can assess the platform based on your own trading requirements before opting for it.
Disclaimer: This review is written from my own experience and my self-knowledge only and this is not a recommendation.