To make an income with online trading, you need to continuously improve your skills, analyze the markets, and use automation tools. However, the most important prerequisite is to choose a licensed and reputable broker. This article will provide the criteria that you can rely on when comparing different service providers. To back up theory with practice, the text will also contain a brief INFINOX review — a renowned online broker that ticks all the boxes of a credible company.Legal Regulations
If a financial service provider does not have a license, it is hardly worth considering it. Clients should entrust their funds and personal information only to regulated organizations that follow the local and international laws. INFINOX can be a great example — its three licenses grant it the right to work in over 15 countries. Using its services is highly secure due to strong regulatory oversight and fund segregation.
History and Ability to Keep Up with the Times
If a broker was launched just a couple of years ago, its history can not yet serve as proof of its reliability. No one can know whether this business will successfully take off or fail.
Companies that have been around for at least five years are more likely to have a good potential. They have had enough time to find their place in the market, grow a substantial user base, and start generating money. If an organization has been operating for over a decade, it is even better.
There can be pitfalls related to a company’s life cycle. Selected established brokers might have passed their peaks of success and be on the decline. It can happen because businesses fail to adopt new technologies and management models. However, there are ways to assess this aspect. For instance, if the interfaces of the broker’s website and other solutions look outdated, it is a negative sign. Lack of AI-powered tools or live chat to provide support services should seem suspicious too.
INFINOX, for example, was launched in 2009. Since then, it has been purposefully modernizing its tools and services to maintain high levels of customer satisfaction. Updates of design, technology, and products happen frequently and systematically.
Team Size and Client Support
Today, AI is starting to replace more and more human professionals. Nevertheless, large international brokers are not yet capable of working with a small staff. They need hundreds of managers to help new customers sign up, verify their documents, answer their questions, handle internal business processes, interact with the regulators, and perform other tasks.
For example, over 200 professionals work for INFINOX worldwide. Whenever a trader needs a consultation, they can be sure a manager will respond promptly and will be able to devote enough time to them.
Terms of Deposits and Withdrawals
One should pick a broker that allows deposits and withdrawals with the currencies that the customer is comfortable with. The wider the range of the supported payment systems, the better. Here is why:
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Oldschool wire transfers and cards continue to be relevant.
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E-wallets often provide a faster alternative with more affordable fees.
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Cryptocurrencies are gaining increasing popularity.
Being impartial about the INFINOX pros and cons, it would be fair to say that the broker gives its audience freedom of choice, limited only by the specific national laws. Traders can choose from the banking options that are available in their country. The duration of transactions is standard for the industry — deposits take only a couple of seconds, while withdrawals might last up to five working days.
Trading Terms and Terminals
Top brokers enable their clients to handle hundreds of assets. INFINOX, for instance, offers over 1,000 of them. To help traders navigate this extensive selection and identify assets with high profit potential, INFINOX equips them with powerful filtering tools and market analysis resources.
The trading terms should be flexible. For instance, a typical INFINOX Forex review mentions the opportunity to trade with a minimum lot size of 0.01 as well as the possibility to use leverage of up to 1:1000.
Some brokers build tailor-made trading platforms, while others offer third-party solutions for free download. Both approaches are valid. INFINOX, in particular, allows trading on the MT4 and MT5 platforms. These terminals are among the industry leaders, with intuitive interfaces and a multitude of automation tools.
Mobile Version
Previously, many traders preferred to work with the help of computers. Larger screens can accommodate more indicators, graphs, and other useful tools. Now, mobile versions of trading terminals as well as various trading apps are becoming more and more functional. Automation is thriving too — if necessary, you can fine-tune the settings on the desktop, set up bots to buy and sell assets, and check the outcome on a mobile device whenever you have a free moment.
When choosing an online broker, it is important to consider how user-friendly their mobile apps are. INFINOX, for example, relies on the mobile versions of the industry-standard MT4 and MT5 platforms for regular trading — both of which are available on iOS and Android and are known for being feature-rich and easy to use.
At the same time, INFINOX offers a tailor-made IX Social mobile app. Its target audience includes two groups of users:
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Experienced leaders who encourage others to automatically copy their trades in exchange for a fee.
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Beginner-level users and busy individuals who prefer to follow the leaders, based on the transparent statistics of the latter’s performance.
As its name suggests, the IX Social mobile app also offers the functionality of a social network. Judging by the INFINOX broker reviews, it is especially important for customers with limited expertise, who learn trading on the go and exchange their experiences with others.
Fees for Customers
Online brokers can charge their clients for buying and selling assets, depositing and withdrawing funds, using trading terminals, or requesting additional services. Of course, the fewer and lower the fees, the better.
Trading fees usually depend on the chosen account type. For example, INFINOX charges the owners of the ECN account 7 currency units for each trade, so it would be reasonable to trade in smaller position sizes. Those who opt for the STP account avoid this type of fee entirely. To balance it, the ECN account has spreads from 0.2; its STP counterpart — from 0.9. Both account varieties offer fair opportunities to make an income, but you should apply different strategies to them.
INFINOX has swap-free accounts for individuals of Islamic faith. In all the other aspects, Muslim clients trade on the same terms as others.
When weighing up the INFINOX pros and cons, critics tend to mention fees for those who withdraw funds through Skrill or Neteller. In fact, INFINOX charges a 3% transaction fee for withdrawals via Skrill; there are no fixed fees for Neteller withdrawals, though users should check Neteller’s own processing charges. At the same time, the broker does not charge any fees for all the other withdrawals and for deposits.
Besides, INFINOX does not charge fees for allowing its clients access to the trading terminals or requesting additional services. It is one of the most significant competitive benefits of this broker.
Registration of New Clients
The process of accepting new customers and verifying their identities is more or less identical across the international online trading industry. It is not the brokers but the laws that determine this aspect. Because of legal requirements, no one can trade anonymously. Even to request a demo account that does not involve using real money, one has to sign up and sign in.
In the registration form, new customers should normally share only their names and basic contact details. Plus, they might need to decide whether they will trade as individual or corporate users in case the broker caters to both segments of the audience, such as INFINOX.
To complete mandatory verification, new clients must provide scans of their passports or IDs and utility bills to the broker’s team, with the latter serving as proof of residence. It can take up to a couple of days to process the documents. A typical INFINOX review confirms that the broker’s crew strives to work as fast as possible.
Services for Corporate Customers and Advanced Individuals
The terms that were described previously above apply to all customer categories. However, there can be special offers for selected types of clients.
The most obvious option is a set of services for corporate entities. For institutional clients using the IXO Prime service, INFINOX provides access to a dedicated technical support team and customized liquidity and technology solutions.
Confident traders could be allowed to assume the responsibility of other people’s funds. For this purpose, brokers can have accounts for MAMs and PAMMs. INFINOX features them and ensures automated distribution of profits among all the parties involved.
Support and Education
It is advisable to check the quality of the broker’s support services before signing up. You can submit a simple question to live chat. If the operator replies instantly or within a couple of minutes, it is a good sign. They should provide a polite and comprehensive answer to the user’s questions, instead of forwarding them to the FAQ page. However, the FAQ section is still paramount for newcomers, so it should be well-structured and feature concise answers.
Besides, top brokers share educational materials with their customers for free. In particular, this is one of the reasons why most INFINOX opinions are positive. People are grateful for a chance to go through news, articles, and analytics that were purposefully created for the trading community.
Client Reviews
If a broker is truly reliable and professional, it will generally receive more positive reviews than negative ones. That said, some negative feedback is inevitable — especially from traders who experience losses and may look for someone else to blame. Let’s take a look at the feedback on the INFINOX trading platform to see what satisfied clients have to say.
In their INFINOX review, Hunter admits having never used other brokers, because this one fully satisfies their needs.
This INFINOX review by William highlights the details of using the broker’s services as a corporate client.
Quite a few INFINOX broker reviews mention both benefits and shortcomings — but the latter are generic for the industry.
There are hundreds of similarly positive opinions about INFINOX available online.
Explore Reliable Trading Conditions Tailored for Your Country
To find a worthy online broker, you should analyze multiple aspects, starting from the license and ending with customer feedback. You can rely on the INFINOX pros and cons from this article as a point of reference. After selecting a reliable service provider and gaining the necessary skills, you should have fair odds of generating a regular income online.
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