Razor Trade Review
Razor Trade is a multi-dimensional brokerage platform with a large number of trading assets to help traders expand their portfolios. Online trading has evolved into a business that no one had ever expected. Trading, which needed physical meetings, has now been shifted to online platforms completely. This shifting thing has created convenience for traders, but there are some difficulties as well. But if you are lucky enough to find a broker like Razor Trade, then you will not have to worry about anything. In this Razor Trade review, you will find out how this broker can make your career easy.
In the twentieth century, trading required traders to be at a specific physical location. They would have to go to the brokers and the markets to invest money and earn profits. However, the beginning of the new century and the birth of the internet improved the whole trading process. Things began to change when trading became digital. Modern traders recognize the perks of this change, but some traditional traders still don’t regard it favorably. But one thing is clear that trading has only lately become widespread, and that technical development has made this possible. The convenience of online trading, as well as the features it offers, have captivated modern traders.
One of the main reasons behind the increased interest is that online trading is convenient. It gives traders an option to invest in highly profitable cryptocurrencies. Cryptocurrencies are digital and decentralized currencies that you can own over the internet but cannot touch or see in reality. Because cryptocurrency belongs to the future, that is why the world is rapidly moving towards it. Traders have grown intrigued and have begun to trade with hopes of getting rich.
It has made trading more a famous prospect and motivated many others as well to enter the trading business. Brokers have begun to introduce their services in online trading as well to cater to the massive influx of traders. Having multiple alternatives of brokerage platforms is a positive thing, but it has also confused the investors because it is extremely difficult to pick the correct broker from hundreds of available options.
Traders sometimes get irritated and become unable to decide and then select any random broker in haste. This is entirely inappropriate since it can severely harm your trading career. So, to prevent damaging your career, you should do some homework before registering with a broker. The homework will explain to you why it is important to properly select a brokerage platform. Traders should also not forget the purpose of their trading that is to earn money. If you select a good broker by thinking sensibly, then he would assist you in every decision.
Razor Trade is a new and astonishing addition to the list of trustable brokerage platforms. It offers a wide range of trading instruments such as foreign currencies, stocks commodities, and CFDs. It also offers the easiest procedure for account opening, withdrawals, deposits, and reliable customer support service. Let’s take a close look into some of the major features offered by this broker.
The Trading Platform
The trading platform is considered the most essential and pivotal aspect of a brokerage platform. If you don’t know what a trading platform is, then let me explain what a trading platform is. A trading platform is software that helps you to execute trades and acts as an intermediary between traders and trading markets. Those who understand the significance of a good trading platform can see why you should consider it first when selecting a broker. After registering with a broker, everything will be managed via the trading platform. It is a facility which you need to use every day, and you would love to do it.
If you compare different brokerage platforms, you will notice that some of them provide pretty good features, but when it comes to the trading platform, they are awful. This weakness affects the entire trading experience of traders. The services provided by a majority of brokers are dormant and useless. If a broker provides you everything you need as a trader, but his trading platform doesn’t support those features, then the whole purpose of having a broker is dead. This is a point where most of the brokers fall short. However, Razor Trade is not like other ordinary brokerage platforms. Its trading platform is a complete option that includes all those features that a trader could imagine from a brokerage platform.
In online trading, it is difficult to guess and predict. If you are an experienced trader, then you would know that the online trading market fluctuates many times in a single day. It means that you need to act fast if you want to earn money by availing of the opportunities. Even a couple of minutes’ delay might cause you a loss of thousands of dollars. To save traders from issues like this, Razor Trade has developed a platform that provides every tool that you may want. The tools provided by Razor Trade include a price calculator, economic calendar, market news, charts, and price movement predictions.
If you are sitting at your home, you can still trade easily by using your computer, laptop, or smartphone. You can trade with ease by downloading Razor Trade’s well-optimized trading app. But in case you’re not at your home or a convenient place, then still, your trades will not halt or slow down. Razor Trade has also designed a platform for your mobile phones and tablets. Whether you like iOS or Android, there are mobile programs for both sorts of traders that will allow you to trade from wherever you wish. So you don’t need to be at home to trade.
Many brokerage platforms try to manipulate traders by offering many trading accounts. In reality, they just put a limit on traders to use some features in basic accounts. In this way, they indirectly ask you to deposit more money to use advanced features. But Razor Trade doesn’t use any tactic like this. It offers only two accounts. The first account is named ‘Real Account’ while the other is named ‘Islamic Account.’
Real Account: Real account is designed in such a way that it fulfills the requirements of every type of trader, no matter if he is a beginner or a professional trader. All the features are provided in this single account. And in addition to this, there is no deposit limit as well. You can deposit as much as you can afford and start trading.
To access the online registration form for this account, you need to click on the ‘Login’ tab at the upper menu and then click on the ‘Make new account’ button. The form will appear in front of you, and you will need to complete all the sections to successfully register for the live account. A confirmation code will be sent to you, which you need to enter to process further. You will be able to access your account right after the verification of your information. After this, you would need to deposit your investment money because, without it, you won’t be able to trade.
Islamic Account: Razor Trade offers this account for its Muslim traders because they prefer to trade per Shari’a Laws. For this reason, Razor Trade provides this separate account to such traders. Keeping in view the conditions of Riba, which forbid delayed payment transactions, the broker provides spot contracts for currency, metals, and energies. To avoid interest which is also forbidden in Islam, Razor Trade allows holding contracts overnight without deducting rollovers from the trader’s account. The registration process for Islamic Account is the same as the Real Account.
Verification Requirements: Every trader is required to submit the following information and documents to complete the registration for both types of accounts.
- Valid Passport/ ID Card/ Driving license
- Bank Statement
- A Utility Bill
- Declaration of mortgages
- No document should be expired and should have three months at least for the expiry date.
If you have enough knowledge of the internet, you would be already aware that it is not one of the safest places. On the internet, your identity and private information are constantly at risk. Without any doubt, the internet has proven itself a bond that has united the globe in the best way possible. But everything that provides us advantages gives us some disadvantages as well. The most gruesome side effect of online trading is that it compromises our privacy. Hence every trader has to think multiple times before submitting his information to online firms. But if you’re using a reliable platform like Razor Trade, your information will remain safe, and you don’t need to worry at all. Its trading platform is one of the safest platforms in the market nowadays.
Security Policies: Many traders don’t know that their security is at risk until they suffer any data leakage. The newbies are at the highest risk because they don’t know what the tricks and tactics used by hackers and fraudsters are. So the beginners prove an easy target for them, and they keep searching for them. If you are also stepping into this field for the first time, then you need to follow some precautions. But if you decide to trade with Razor Trade, then you will not have to worry about security at all, whether it is your information or money. Let me tell you briefly how and why it is a safe brokerage platform.
The first thing is that Razor Trade has enabled a security wall on its website, which means that it is impossible to hack the website. So to target its trader’s criminals need to enter the website disguised as a trader. But Razor Trade has made it even more difficult for them by implementing security policies. In this way, no one can enter the platform without proving his identity. The policies being used are called KYC (Know Your Customer) and AML (Anti Money Laundering).
The KYC policy forces its traders to submit proof of their identities, such as ID cards or driving licenses, at the time of registration. The AML policy asks the traders to submit financial details such as bank statements or utility bills to trace the origin of money. Both these policies work together, and a significant decline is seen in criminal activities in the market since their implementation by brokers.
But the threat to traders does not end there, as some hackers can access your funds without the platform’s help. To prevent hackers from reaching your account and stealing your private and monetary information, Razor Trade has used advanced encryption technology software. The encryption technique safeguards the information you supply to the broker at the time of registration with the brokerage platform. It generates multiple passwords on your data that cannot be guessed.
Customer Support Service
No company in the world can ever flourish by keeping its customers unhappy and unsatisfied. I have not seen in my life a company that has earned a good name without good customer support service. Every company must meet the requirements of its customers if it wants to enhance its growth rate.
A company or platform that is not serious about meeting the requirements of its customers can never accomplish its objective of being successful. This is also applicable to brokerages because their basic duty is to provide comprehensive support to traders and make the trading process simple for them. Customer support service is a compulsory feature that cannot be ignored. Brokers must care for their clients because, without them, they cannot conduct their business.
Some brokers have shown irresponsible behavior by not assisting their traders properly and putting them and their careers in jeopardy. Trading cannot be treated as a game, and as you are already aware, it requires plenty of time and investment. A trader risks numerous things while trading, including cash and personal data, so brokers should give them what they deserve.
These factors highlight the importance of working with a broker who is capable of helping and always willing to do it. In this regard, Razor Trade is a brilliant brokerage platform because it cares for its customers and does everything for their satisfaction. It has hired a team of expert traders who provide prompt answers to traders’ questions. Razor Trade offers 24/7 assistance to its respected customers. The customer service is available from Monday to Friday. The customers can contact the broker by using the email address and telephone numbers provided on the website.
Easy Deposit And Withdrawal Methods
Razor Trade keeps the funds of every trader in separate accounts. These accounts are called segregated accounts. This is done to make sure that traders’ money is not utilized for any other reason by the platforms’ staff. Although it is highly impossible still if at any point Razor Trade goes bankrupt, the money of traders will be refunded to them after deducting administrator’s fees for handling and distributing them.
Deposits:- Razor Trade provides you the freedom to select your deposit method. You can fund your accounts with a credit, Master’s, Visa, or debit card. But if you want to use the traditional method, then you can use the wire to wire transfer method as well. But checks and cash deposits are not accepted by the broker. Traders need to make sure that all transactions they make to credit their account come from a credit card or invoice registered in their name. The money transferred from 3rd party sources is refunded. The steps you need to follow for this are:
- Log in to your account, which you want to fund.
- Select Funding.
- Choose a Deposit Method that is convenient for you.
- Fill in all the fields.
- Make the Payment.
Withdrawals: The withdrawal procedure at Razor Trade is also as convenient as the deposit method. Traders can withdraw money at any time from their accounts instantly by choosing the ‘Withdrawals’ tab after tapping on the ‘Payments’ button. You should keep in mind that the broker may need extra information and confirmation of identity before processing your withdrawal request for safety reasons.
Razor Trade does not transfer payments to third-party accounts, so you should make sure that you select your bank account. Also, keep in mind that in case your bank information is already on file, they will complete your application the same day. You will only be required to enter the bank information if you want to transfer money to your bank account.
Many features such as the trading accounts, trading instruments, security policies, tremendous trading platform, and easy deposit method make Razor Trade one of the most attractive brokerage platforms for traders. Their customer support service is a plus point as well. So, keeping an eye on all these advantages, I recommend you select this broker and give it priority over others. I leave the final decision to you.