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MDX500 review – Is it the right fit for you?

mdx500


One of the most popular trends of the last decade has turned out to be online trading in the financial markets.

Even though trading has been around for decades, it hadn’t seen this kind of hype, which has been brought about by several reasons. First and foremost, technological advancement, along with the internet has made the trading world a lot more accessible to people than it ever was. This also explains the number of people who are stepping into the financial markets. However, the primary catalyst has been the introduction of cryptocurrencies, which has prompted people to rush into the market to take advantage of its profit potential.

With the crypto boom in 2017, thousands of people all over the globe earned millions within a matter of weeks and since then, people have been trying to earn the same kind of returns. Thanks to technology and the internet, you don’t have to go anywhere to start trading. The only thing you need to do is find a good and dependable broker, as this can make all the difference. It is vital to remember that no two brokers are the same, just like traders. You need to pick a brokerage that’s the right fit for you and can attend to your needs.

With the surge in online trading, brokerages have also experienced a rise, which means the market is full of options. Your job is to sort through the various choices to find the most suitable one. How does MDX500 do in this regard? Registered and licensed by the Estonian Ministry of Economics, the broker was founded by a company named BlueData OU. Read on to know more about this broker:

The Active8 Trading Platform

Simply put, a trading platform is a software that’s used for performing all the functions related to trading, whether it is opening new positions or closing old ones. Likewise, it is also used for managing your trading account with the broker. Knowing the important role it plays, MDX500 has incorporated the Active8 trading platform for their clients. Powered by cutting-edged technology, this platform boasts an intuitive user interface, suitable for newbies and skilled traders alike. It can be downloaded on your Windows device and you don’t need any technical knowledge to do so.

As far as the features of the trading platform are concerned, it allows you to execute trades at lightning fast speeds and gives you access to a wide variety of charts that can all help during trading. It also has tools like the economic calendar that tells you important events and gives you live market news and price charts. In case you don’t want a desktop trading platform, MDX500 has added mobile apps for Android and iOS ecosystem that can be downloaded with ease. These are also equipped with advanced trading tools and enable you to access the market on the move.

Forex and CFD Offerings

An important thing to know about MDX500 is that it is a forex and CFD broker. This means that along with the forex market, it offers you CFDs on different assets, which don’t require you to buy the said asset physically. You can trade contracts for various trading instruments and benefit from price movements. Some of the instruments that you can trade via the broker are:

Forex: As stated first, it is a forex broker, which means that it allows you to trade major and minor currency pairs like EUR/USD, GBP/USD and USD/CHF, plus you can also trade some exotic currencies that are more volatile.

Indices: This market is considered a very lucrative one and is based on the overall performance of different industries. MDX500 has added some of the leading indices on their platform, such as Dow Jones, NASDAQ, FTSE 100 and DAX 30.

Cryptocurrencies: One of the most popular trading instruments nowadays, cryptocurrencies have a lot of profit potential and demand. Therefore, the broker has added the top crypto options like Bitcoin, Litecoin and Ethereum to their offerings.

Commodities: In case you want more consistent options, the commodities market is a good choice. Hard and soft commodities, both are available on this broker’s platform. Hence, you can trade gold, silver, crude oil, cocoa, coffee or soybeans, amongst others.

Trading Account Options

Opening a trading account with a broker is a must if you want to use their trading services. Brokers tend to offer several account options to their clients, particularly if they are catering to traders from different backgrounds. If you want to find a broker that’s the right fit for you, checking their trading accounts is a must because you need to know if they have an account that accommodates your needs. There are four account choices that you will find at MDX500, with each designed for traders of varying levels. Let’s take a look:

Standard Account: This account is designed for newcomers in the trading market, so its minimum deposit requirement starts at £250. It offers instant execution and the spreads start from 1.3 pips. The account provides you with weekly trading sessions and also comes with a personal account manager to assist you. You also get a senior account analyst for providing you guidance.

Gold Account: The minimum deposit increases to £5,000 because this account is for intermediate traders. Spreads are now 1.5 pips and you also get a chief analyst, along with daily trading signals to assist you.

VIP Account: To accommodate skilled traders, this account has been added and a minimum deposit of £25,000 has to be made for opening it. The spreads start at 0.1 pips, and it provides professional support and all other features.

Centurion Account: This account has been created for professional traders and a deposit of £100,000 is needed. For other details, you can get in touch with your personal account manager and they will guide you.

Conclusion

With the variety of instruments, various account options and optimal trading platforms, MDX500 can turn out to be a good fit for any trader looking to take advantage of the markets’ opportunities.



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