Fivoro
Fivoro Review
After you have gone over the features and understood the offerings of the brokerage carefully, it is easy to see that Fivoro is quite capable of providing you the right environment needed for taking advantage of the opportunities in the trading market.
| Fivoro | |
| Pros | Cons |
| Intuitive web and mobile investing platforms | Limited Asset Range |
| Comfortable UX and UI | Does not support clients from many countries |
| Easy sign up and banking | High minimum deposit |
| Secure and safe | |
Who doesn’t want to earn some money? If you come across some good opportunities to do so, wouldn’t you want to take advantage of it? Given the current economic situation where the coronavirus pandemic is wreaking havoc all around the world, people are looking for ways to boost their bottom line. A lot of people have either lost their jobs or are not earning enough to meet their expenses. With interest rates going down, people are also searching for new investment options that can give them a high rate of return. Where do you find such opportunities? The financial markets appear to be brimming with such options, and trading is on the rise because of it.
There was a time when it wasn’t easy to start trading, but things have changed with technology. Now, you just need access to a computer, laptop or mobile device and run a search for online trading platforms that can be used. Not only is access easy, but you no longer have to have lots of money or in-depth knowledge and experience to trade. Anyone can start trading, but you do need to look for a reliable trading platform to do so. A quick search will tell you that there are hundreds of options in the market, so how do you pick one?
You need to be very careful because not all of these platforms are secure and reliable. You don’t want to get mixed up with a platform that may be vulnerable to cybersecurity risks and other problems. Hence, it is a good idea to do your research and understand the offerings properly before you move forward. This is exactly what you need to do when you come across Fivoro, a broker that can provide you access to investment opportunities in the financial market. The question is whether they do a good job of it or not, and the best way to find the answer is by evaluating their offerings.
- Begin with registration
Since you have to register for accessing trading services, start your evaluation by considering what their requirements are. Unlike some platforms, Fivoro doesn’t push you through the paces in order to use their services. The registration process is mostly just one step of you filling out a short form on their website. Completing it requires you to enter some basic information, like your first name, last name, country, phone number, an email address, along with a password to access your account. You also need to select which currency you wish to use for funding your account.
The form is nearly done at this point, as the last two steps require you to confirm that you are at least 18 or above and have shared all accurate information with them and that you have gone over their Terms & Conditions and agree to them. Your registration will be finished here and you can move onto the next step of opening an account.
- Go over the account options
If you want to have a comfortable trading journey and be able to trade without restrictions and with the right features, you should check what account options are provided by Fivoro. These can tell you if the platform will be able to accommodate your needs and not make trading a difficult process for you. You will find that Fivoro has proven to be quite flexible in this regard because they have put together seven account options, than the usual three to four. This ensures that you can find an option that will work out for you. These choices include:
Option 1: Known as Trail, the first account requires you to deposit a minimum of €500. It comes with a leverage of 1:100, gives the latest market news, has a learning center with tutorials and there are also basic videos about the platform. You can also get regular spreads, full customer support and specialist opinions to help.
Option 2: The next account is known as Basic and the minimum deposit for this one is €5,000. The leverage provided here is 1:150 and the account gives lower spreads, a risk manager and a personal account manager as well.
Option 3: Referred to as Trader, the third account can be opened by depositing a minimum of €10,000. The leverage now goes up to 1:200 and there is a senior account manager to go with it. There are webinars and private sessions with an expert. You can also take advantage of the social trading feature to copy the trades of successful traders.
Option 4: Pro Plus is the next account choice you will come across and it carries a minimum deposit requirement of €50,000. The leverage now increases to 1:250 and traders get a private account manager, a private risk manager and a market analyst, all of whom can help them out.
Option 5: The account that you can open now is called VIP and a minimum amount of €100,000 has to be deposited. This account provides a leverage of 1:300 and it includes invitations to worldwide conferences, a Traders Group Club, a senior market analyst and in-person meetings with leading traders.
Option 6: Designed for expert and experienced traders, the Millionaire Club requires a hefty deposit of €500,000. This account is offering leverage of 1:350 and provides users with private banking and a support manager. Hedging strategies are prioritized here and worldwide broker connections can also be made.
Option 7: The final option that you will find here is known as VIP Ultra and it needs a deposit of €1,500,000 to be opened. It offers the highest leverage at 1:400 and provides 70% insured contracts, interest accumulation programs, Black cards, strategy advisers from the leading companies, year conference invites and risk specialists. But, you should bear in mind that in order to open this account, you don’t just need to fulfill the minimum deposit requirements. You have to meet some other requirements as well, which you can find out by getting in touch with the account manager.
- Look at the payment methods
Since the account opening procedure requires you to deposit a minimum amount, you need to know what method Fivoro has provided to you in order to do so. It is essential to check these options because it determines whether it is will be easy and convenient for you to make your payments. Fivoro has put together a range of options that you can explore for not just depositing your funds, but also making your withdrawals in the future.
The choices provided to you by the company include traditional choices, such as bank transfers that may take a bit of time, but are quite safe. If you want something faster, Fivoro has added support for an array of debit and credit cards, such as Visa and MasterCard. The platform has gone as far as adding the more modern solutions, which include e-wallets like Skrill and Neteller. As far as currencies are concerned, you can opt for USD or EUR and even choose your local currency for your deposits and withdrawals.
- Check the trading platform
The most vital feature of a brokerage, which often distinguishes from the others is their trading platform. It is important because you have to use this platform for executing your trades, which means it needs to work efficiently and also provide you with the trading tools needed for making solid trades. Different versions of trading platforms exist in the market and it is up to the company to decide which one they are willing to offer. Fivoro has chosen to develop their own trading solution, one that is web-based.
The first perk you can enjoy from this platform is that it doesn’t have to be downloaded and there are no worries about installation. To use this platform, you need to access the web browser on any device of your choice, go to the Fivoro website, enter your login credentials and start trading. Nevertheless, this doesn’t mean that the platform has not used cutting-edge technology to facilitate the trading process. The platform works seamlessly, giving you access to the market within seconds and offers ultra-fast speeds of trade execution.
As far as trading tools are concerned, they are plenty latest market news, trading signals, price alerts and interactive and live charts that can come in handy when making decisions. The trading platform delivers a powerful trading experience, regardless of what device you use it on.
- Assess the security
A major concern for anyone in today’s environment is security; you need to know that the platform you are trading on is secure and your information cannot be compromised, neither your funds can be stolen. With the increase in cyberattacks, this has become a priority for everyone, so a good brokerage will take appropriate measures to minimize any risk. When you take a look at their security infrastructure, you will undoubtedly be pleased with it. Fivoro is fully-aware that when you sign up on their platform, you have to impart a great deal of personal and sensitive information.
To put your mind at ease, they have chosen to implement advanced SSL (Secure Socket Layer) encryption technology, which can conceal and protect your information as much as possible. It ensures that no one can access your information and if they do, they will not be able to use it in any way. To add to your peace of mind, Fivoro is also compliant with world renowned security policies, KYC (Know Your Customer) and AML (Anti-Money Laundering). These policies prevent financial fraud, money laundering and terrorist activities and are also great for reducing the risk of identity theft.
As per the rules of these policies, traders have to present a document that gives proof of ID, such as a passport, driver’s license or a national ID card that shows your name and photograph. You also have to provide proof of residence by submitting any utility bill or a bank statement. In addition, if you plan on using a debit or credit card for making payments, you have to submit a photo of the front and back of the card in question. You can blur out all except the last four digits on the front and the CVC on the back.
Fivoro has also implemented a privacy policy that tells you how and where your information is used. You can rest assured that your data is not shared or sold to any third-party without your consent or for any illegal purpose. You can find the policy on their website and go over the finer points in order to know exactly what you are getting into.
- Prioritize customer support
The trading world is no doubt exciting, but it also evolves constantly. Even if you already have some experience, every broker is different and getting used to their services can take some time. You may have some questions about them or you might get stuck with something. Either way, you will require some assistance and you want to make sure it is available. Fivoro has not only added support options, but has also gone to some lengths to ensure they are responsive and helpful. They have provided a number of options that you can use for reaching out to their support team.
You can go to the Contact Us section that you will find on their website. Here, they have given the channels, such as email, an online contact form and a phone number. You can use any of these options to contact their team and put forward your question or problem. They are available 24/6 to assist you and will respond to you as quickly as possible. They are friendly and attempt to resolve your issues quickly and efficiently, so you can get back to trading.
After you have gone over the features and understood the offerings of the brokerage carefully, it is easy to see that Fivoro is quite capable of providing you the right environment needed for taking advantage of the opportunities in the trading market.
