If you visit online trading platforms and their websites, you will realize that they have certain values they uphold. Well, at least they claim to be upholding those values they talk about, but are they really? Honesty remains one of the most commonly mentioned principles of these platforms but I have always observed that they don’t really care about it much. I discovered a platform that I think really makes this value a part of its service. That’s what this EU BITS review will be all about.
You can always visit the website of the broker to know more about it because I will focus on its honesty. I will tell you how it remains transparent to its traders regardless of the feature. Let’s get to it right away.
Deposits and Account Segregation
I have seen so many companies talk about account segregation. They always tell you they keep your money in separate bank accounts. Well, I am someone who has been associated with this industry for many years so I know what that means. However, does it make sense to you as a new trader why a company is talking about segregated accounts? What good is there in it for you? What does it really mean? EU BITS is probably the only company that talks openly about it and tells you that your money is kept in accounts separately from the accounts where the company keeps its own funds.
More importantly, it even explains to you why it does that. Apparently, if something goes wrong and the company bankrupts, whatever the company owes to the creditors will not go from your funds. In other words, your money will always be safe no matter the circumstances.
An Explanation of Spreads
How many companies do you know that tell you how they make money? It remains an enigma for many how online trading platforms make money. If you are using them for trading and you get to keep the profits, what do they get out all of this? Do they even make money? Of course, online platforms always make money but no one seems to care about explaining the process to traders. EU BITS is probably the only company that clearly explains to how it makes money. So, the answer is that it makes money through spreads. The buying and selling prices on its platform are always a few points higher or lower respectively.
This difference is what makes money for the broker. So, the actual buying price of an asset might be 50.01 but you will get it for 50.02. This difference in the price is what makes money for the broker or the trading platform. This explanation with an example is clearly given on the website. There is even some good news in there for you, which is that the company does not charge you any commissions on your trades.
The Clear Disclaimer
Last but not least, I want to talk about the clear disclaimer on the website that tells you that you will be trading and making money with your own skills. It also explains to you that you will be taking a risk when you trade on the platform. You don’t have to be under any impression that as soon as you deposit your first amount you will become a millionaire. That’s the way online scammers talk. However, a cryptocurrency broker like EU BITS does not give you any false hopes. It explains to you the process and elaborates on the fact that you will have to take risks to make profits.
Final Thoughts
So, you can see that there is a lot for you to pick even in this narrowly focused review of the honesty of this company. I do want to urge you to look for these clues before you pick any online platform for trading. If you are not sure about their transparency and honesty, you shouldn’t sign up at all, but I don’t think you will come to that conclusion when you look at EU BITS.