A Broker That Meets All Big and Small Trader Needs – Find Out in This Kodimax Review
Kodimax Forex Broker Review, Scam or Legit?
An online broker can have millions of traders in its database. The better they are with their services, the more traders join their platform. Traders’ interest in a particular broker depends greatly on how the broker meets their needs. Some brokers are more concerned with experienced traders because they can make a lot of money off of their trades. Some brokers focus more on new traders because it is a flourishing market. The best brokers are the ones who give attention to all the major and minor needs of all their traders. That’s where Kodimax comes in.
Kodimax is fast becoming one of the best brokers in terms of how much the traders love it. The reason for its increasing popularity is associated with a comprehensive suite of services that takes care of new, advanced, and expert traders. Read this review completely to find out if the broker is really doing something for its traders.
Kodimax – A General Overview
The first thing you have to understand here is that at its core, it works just like other brokers. You are not going to trade the real assets with Kodimax. Instead, you are going to be dealing with CFDs i.e. contracts for difference. You trade these contracts just like you would trade the asset. In fact, it has proven to be much more exciting and beneficial for new traders to trade CFDs than trading assets. As an online broker, Kodimax gives traders access to a platform from where they can keep an eye on the market and execute trades whenever they want.
In addition to giving traders a platform, the broker is also responsible for integrating all the useful tools that can help traders make money off their trades. You don’t want to enter into traders that are going to end up in losses. To take well-informed decision, you have to take advantage of many different types of tools that can include economic calendars, price charts, signals, etc. It is on your broker to bring you the best tools so you can make profitable traders more frequently. Kodimax does a great job of bringing these amazing tools together. You will find more about the tools and the platform as you read on.
Transparency, Fairness, and Security
When signing up with an online broker, you have to be concerned about these issues the most. You want transparency of all the financial dealings so you know that the broker is doing legal business. Secondly, you want fairness in rules to ensure that the broker is not using tactics to cause damage to your funds. Lastly, you have to be concerned about the security of your information and the money you have to deposit in your account. If a broker takes care of all of these things, there is no reason why you should not sign up with it.
Kodimax has paid attention to all of these details to give its traders the peace of mind they need while trading. Starting from transparency, it talks clearly about how it does not allow people to use its platform for money laundering. There are certain policies when it comes to deposits and withdrawals that have been designed specifically for preventing money laundering activities. It also obtains ample information from its traders to ensure that only legit entities are signing up on the website and representing themselves with their real names. When there are strict policies in place, a trader can only use a credit card or bank account that’s in his/her name.
However, the claims that a broker makes are not enough. You can’t think of a broker who would not make the claims that it takes care of your information and money, and that it does all it takes to keep things fair. What you need is the approval of a third party in the form of regulation and registration. The most reliable broker from the bunch is always the one with proper regulation, licensing, and registration. You will be glad to know that Kodimax is a fully licensed broker performing all of its financial activities after proper authorization. It is also regulated by third party organizations to ensure transparency.
The last thing you have to be concerned about is the security of your money and information. When you sign up with a broker, you have to provide your personal information. In addition to that, you have to deposit some funds in your account to activate it. Your information should always be protected through the latest standards of encryption. If your broker does not encrypt your information, you should steer clear from this broker. With Kodimax, you can rest assured that all the information you provide to the company is fully encrypted to save it from any snoopers and stalkers on the internet. Similarly, the money you deposit in your account is safe too.
Trading Conditions with Kodimax
Before you sign up with a broker, you have to find out about the trading conditions. You only want to deposit funds in your account when you are sure that the trading conditions are in your favor. The meaning of trading conditions being in your favor is that the broker should have various ways to benefit the traders. For example, you should be able to take advantage of the leverage. Leverage should not be limited to only the professional and experienced traders. Most of the brokers are now okay to offer leverage to the new traders as well. The good thing is that Kodimax is happy to offer you significant leverage on your trades too.
The leverage you get from Kodimax can change depending on a few factors. First, you have to pick the right account type because there are varying leverage limits applied to different account types. Furthermore, you will see the leverage changing as you move from asset to asset. In cases where the assets are not that volatile and have fewer risks, brokers are happy to offer you big leverages. Nonetheless, leverage is available for the traders who sign up with Kodimax. The other important thing you have to look at to gauge the trading conditions is the spreads.
Spread is the difference in value when you sell or purchase a particular asset. You will always notice that the price you get for selling an asset is less than the price you have to pay when you buy the same asset. The difference between these two prices is the spread. Many brokers make money from their traders in the form of spreads. However, in some cases, the brokers take the commission route wherein they charge a commission for every trade you make. You should not be worried about this particular issue because Kodimax offers you some of the most competitive spreads in the industry.
You also have to look at the type of assets you can trade. There are many online brokers that let you trade forex only. At the same time, some brokers allow you to trade in the stock market. When it comes trading CFDs, you have a lot of liberty of trading many different types of assets. You get to trade commodities, cryptocurrencies, currencies, stocks, and indices when you are on the trading platform from Kodimax. These assets come from a variety of financial markets from all around the world. You have a wide range of assets available that include the most volatile as well as the most stable ones.
One of the things you have to love about the asset index of Kodimax is that you can now trade cryptocurrencies as well. It is an emerging market but many brokers are still not comfortable with offering cryptocurrencies to their traders. Of course, you are going to trade only the CFDs of the cryptocurrencies here too. However, there are lots of brokers that have been holding back from offering the opportunity of trading cryptocurrency CFDs on their platforms. Being one of the brokers that have the most care for their traders, Kodimax now has some cryptocurrency CFDs on its platform for its traders to trade.
The Amazing Trading Platform
Online brokers have to make sure they give the best trading experience to their traders. In order to do so, they have to offer the traders the best trading platform. A trading platform, as the name tells, is a software tool that lets traders place their trades in the real financial markets. However, it is not as simple and straightforward as it seems. There is a lot of other stuff happening on this platform. For example, the trading platform has to have all the tools to help the traders minimize their risks and take well-informed decisions. Even the news from the financial markets can appear in the form of tickers on the trading platform.
Kodimax has fully understood the needs of its traders, and you can tell that from its trading platform. It is a complete and comprehensive tool that not only helps traders enter into trades but also provides them useful market information, comes with integrated trading tools, etc. Before traders start putting their real money on the line, they can also try the demo account on this platform. The demo account comes with credits that traders can use to enter into trades that are simulations of the real trades. This gives them a good idea of how the software works and what the trading world looks like.
The trading platform you get from Kodimax is compatible with many different devices as well. You can use the platform on your desktop computer. You can also use the web-based trading platform that can be accessed from anywhere in the world if you only have an internet connection and a browser. Most importantly, Kodimax also has an amazing mobile application that gives you access to all the financial markets, tradable assets, and tools that can help you with your trades. You have the same trading experience with Kodimax regardless of the device you are using.
The Kodimax Trader Account
When you sign up with a broker, you just have to provide your personal information. You don’t necessarily have to give out your banking details. After opening an account, you can take a look at what the dashboard and the trading platform will look like. However, you cannot do any trading on the platform because you have not yet activated an account. To activate your account, you have to choose from a bunch of different account types. Of course, these accounts have been designed by the broker to cater to the needs of different types of traders.
There are multiple accounts to choose from when you sign up with Kodimax. The basic accounts are meant for people who are new to trading or have very little trading experience. On the other hand, there are advanced account types that are meant for expert traders who have been in the industry for several years. The differences in these accounts are for the benefits of the different account holders. For example, the basic account type will give you access to only basic level of education on trading. It will not let you access the advanced trading strategies because they will not make sense to you unless you have some basic understanding of it all.
In addition to that, there are some differences in the commissions and spreads as well. When you look at other brokers, you will notice that they often offer the best spreads to their advanced account holders. It can be a little disappointing for the basic account holders because they have to pay a bigger price for every trade. Kodimax does not want to take advantage of its traders’ experience like this. You will notice that the spreads are extremely competitive irrespective of the account type of the experience of the trader. Yes, there are some features that are only available to the advanced traders, but that’s in the best interest of the new traders.
One of the first things you will notice about the account types is that they have different minimums that you will have to deposit. For accounts that are meant for new traders, the minimum deposit requirement is very small. One has to keep in mind that even students are interested in trading and making a career in this industry today. They don’t have a lot of money and the broker has to cater to the needs of these students as well. So, the minimum deposit requirement for a basic account is small enough to allow even students to enter into trading. The same requirements are higher for advanced accounts.
Training Material and Education
Online brokers are the best sources for people to get education about trading. It makes sense for the online brokers to have some training material that they can provide to their traders to learn about trading. Here, it is important to know that the training material can be in many different forms. You can find out after a little research that not all brokers have the best training material for their brokers. Some promise a lot of things but when you sign up and fund your account to activate it, you are in for a surprise. The training material you receive is nothing more than basic knowledge of what trading is.
Yes, the new traders do need basic education. But there should be some other useful stuff that can teach them on how to make their trades safe and stay away from losses. If the training material has to be only a glossary of terms used in the trading world, you can find that on Google with ease. You don’t have to open an account with a broker and spend your money to access this generic content. Kodimax is fully serious with the type of educational material it has for its traders. This material is meant for new, advanced, and expert traders to learn trading comprehensively.
You get access to the basic level of education when you sign up with a basic account. This information is good for you to enter the trading world and stay away from the risks associated with certain types of trades and assets. On the other hand, the advanced training material talks about advanced strategies. It also teaches you the tactics that you can use during the trades to ensure that your risks are minimum at any given moment. The training material, as stated earlier, is available in many different formats. You can choose to watch video content or take advantage of ebooks that talk in detail about trading and trading strategies.
In addition to the video and text-only tutorials, you also have access to webinars. In the recent years, more and more brokers are introducing webinars as a part of the training for traders. The good thing about webinars is that they are interactive. You have people talking about trading live. These are experts of the industry who can be talking about strategies, tactics, trading policies, trading standards, and just about anything related to trading. Once they are done with their speeches, you can ask them questions as well. It has turned out to be one of the most popular ways for new traders to learn trading. They like the fact that they can receive advice directly from expert traders.
The Care for Customers
Is Kodimax a Scam Broker?
After you have looked into all of the things stated above, you have to see the level of customer service you will receive from a broker and this is truly what shows the difference between a scam broker and a legit broker. Believe or not, customer support is the only way to differentiate between some brokers. You will find many brokers that provide great features on their trading platforms, have tight spreads, and give their new traders some promotional discounts as well. When you compare these things, you might narrow down to three or four options. In the end, it has to be the level of customer support that the broker is willing to provide you which should help you pick the right one.
How do you measure the level of customer support? First, you want to look at the number of ways you can get in touch with the company. You don’t want to be limited to an email address or a contact us form on the website. While these are good ways of contacting the company, they are not enough when you need urgent help. Kodimax has a web-based contact us form as well as an email address where you can send in your inquiries to get help. However, Kodimax also has the phone number where you can call to get instant help from the knowledgeable and professional representatives of the company.
There is a new way of talking to the company representatives. It is the live chat feature. More and more brokers are introducing this feature on their websites. Live chat feature helps you get instant help on your concerns without holding on the phone and waiting in long queues before someone can answer your phone. With Kodimax, you have all of these options available to get in touch with the broker. What makes things even better with this broker is that the customer support is available 24 hours a day. However, you have to keep in mind that the working days are from Monday to Friday.
After reading this entire Kodimax review, you can now tell what Kodimax offers and what it does not. When you look into the details, you find out that the broker has taken care of all the major and minor requirements of the traders. Of course, Kodimax targets traders in multiple countries so it has to keep that into consideration when developing its features too. The trading platform is complete with several trading tools available to the traders. The spreads are tight and the leverage is there to control big trades. Customer support is great and new and experienced traders can benefit from some well-organized training material too. There is no doubt about the fact that Kodimax takes care of its traders well irrespective of their trading experience.