BrightFinance Broker Summary
- Overall Rating
You can surely ascertain that BrightFinance has covered every aspect of trading quite well. It comes off as a complete package that can help every trader in having a smooth and successful experience.
One of the most difficult tasks for an online trader is finding a broker. Everyone wants to believe it is easy because there are a horde of options to choose from. All you have to do is search on Google and it will provide you with a list of brokers you could consider. But, the real issue is sorting through all of them to find one that can actually be trusted. This is easier said than done because scammers have also gotten quite smart and it can be difficult to distinguish between legitimate and unreliable ones. Plus, they give such tempting offers that many traders end up falling into their trap.
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However, the best way to find a good broker for your trading needs is to know what you are looking for. Most people don’t know what questions to ask and they end up considering the wrong features when making a choice. Hence, they end up with a broker that’s unable to fulfill their needs and it can be immensely frustrating. If you are looking for convenience in every aspect, you should opt for BrightFinance. This broker is owned and operated by Capital Letter GmbH, which is registered in Munich, Germany.
BrightFinance Scam – Is BrightFinance.co a Scam?
No. BrightFinance.co is not a scam.
But, why should you trust the claims made by this broker? You can rely on it after you get answers to some essential questions. What are they? Read on to find out:
What kind of Trading does BrightFinance Offer?
The first thing you need to do know about a broker is the kind of trading they offer. With BrightFinance, you can indulge in CFD trading i.e. Contract for Difference trading. In this form of trading, rather than purchasing the asset physically, you only purchase a contract for it and trade on the basis of its price movement. This kind of trading is popular because it allows people to trade a variety of assets and carries lesser risk as opposed to physical investment.
What assurances can BrightFinance offer regarding its reliability?
When you have to choose a broker, there is no doubt that you would want to consider their reliability. Why would anyone want to sign up with an unreliable broker? When it comes to BrightFinance, it is definitely reassuring to see that the broker has spread out its services in almost 60 countries and is growing quickly. If it wasn’t a reliable broker, it wouldn’t be able to expand so rapidly. Thus, the fact that it is now catering to traders all over the globe speaks volumes about its impeccable services and features.
What security features has BrightFinance incorporated?
If you have done any research into the world of online brokers and trading, then you are aware of the hundreds of scams that have happened and the hacks that have occurred. This often makes people wary of sharing their information online, but it is inevitable if you wish to trade. To combat the risk, you need to take a look at a broker’s security features or else you will be vulnerable. BrightFinance doesn’t disappoint in this regard because they have taken security very seriously. This is not just security of information, but also of the funds that traders deposit with them.
To start with, the broker has a KYC (Know Your Customer) policy in place under which anyone who registers on its platform has to submit proper documents to prove their identity and confirm their address. The purpose of this measure is to ensure that a legitimate individual is making an account and not a cyber-criminal interested in stealing information or hacking the network. Other than that, verification of credit cards is also required and withdrawal requests have to be in the same name as that of the person holding the account with the broker. This is in accordance with the AML (Anti-Money Laundering) policy.
For keeping their traders’ funds safe, BrightFinance only keeps 10% of total funds online and the rest are stored in cold wallets so they are out of the reach of hackers and criminals. The broker also provides its clients with complete anonymity and doesn’t save their name on records to ensure their safety. Full data encryption is also implemented for protecting all information and protection against DDoS attacks is also given. Furthermore, two-factor authentication is also supported and BrightFinance encourages its traders to use strong passwords and not share them with anyone. Suffice it to say, their security infrastructure is downright impressive and will satisfy all traders.
What kind of trading environment do they provide?
Once you have ascertained the broker is safe to trade with, you also need to verify if they are capable of providing you with a trading environment where you can make profits. If you have to deal with any hurdles, the whole experience will be ruined. Understanding the importance of the trading platform, BrightFinance has made significant efforts into developing one that works for everyone. The broker understands that the days are gone when traders would just stick to their PCs to keep an eye on the market and make trades when they saw fit.
These days, there are different mediums for trading and traders want to take full advantage because it ensures that they are not missing out on any opportunities. In fact, they can capitalize on even the smallest of movements or changes in trends and not lose out. BrightFinance has developed trading platforms for different formats to fulfill the needs of their traders. The first option is a web-based trading platform that can work on any device that supports a web browser. It is equipped with some of the most sophisticated trading tools in the market including technical indicators, charting tools, graphs and more.
Moreover, the trading platform supports one-click trading, which means you can place trades in a couple of clicks. The platform is responsive and speedy and the layouts can be adjusted according to every trader’s needs. The platform doesn’t have to be downloaded and doesn’t suffer from any delays or lags. In addition, there is also a mobile app provided by BrightFinance for both Android and iOS users and it offers the same features and functionality as the web-based option. It is a big bonus because it allows traders to make trades on the go.
What kind of investment opportunities does BrightFinance offer?
Traders who are in search of diverse and impressive trading opportunities will not have to look further than BrightFinance. The broker has a very powerful asset index, which comprises of trading products from numerous markets. In fact, if you compare it with the other brokers, you will notice that it has managed to outdo a number of them. Not only does it let you invest in numerous markets, but also gives you plenty of choices in those markets. For instance, when it comes to forex, BrightFinance has added some of the most prominent currency pairs to its index.
You can trade both major and minor pairs and even some rare ones, if you don’t mind the risk. Stocks, indices, options and commodities are also plentiful and you can choose those that appeal most to you. This is now where BrightFinance’s offerings end. The broker has also added crypto to its asset index as it has turned out to be a very hot asset. As a matter of fact, they enable you to trade a huge number of crypto coins, more than other brokers offer. All crypto can be traded against the USD, which is also an advantage. It allows you to reduce the risks and enjoy maximum returns as you can diversify your portfolio as much as possible.
What is BrightFinance’s registration process?
You will be pleased to know that the registration process of this broker is quite simple and straightforward. There are no complex forms to be filled out. A simple one is provided at the website, which requires some basic information like your name, email address, phone number and password. The registration process ends at this point and you can move onto the next step.
What account options does BrightFinance offer?
The second half of the registration process involves choosing an account type to sign up for. Different account options are provided by brokers because not all traders are willing to invest the same amount or need access to the same features. For instance, beginner traders don’t need advanced tools because they have no idea how to use them. There are five account options that BrightFinance offers to its traders and each of them provides unique and impressive features. The account options are:
- Explorer: This account can be opened with a deposit of $250 and you can invest as much as $2,000. You get access to a profession chart, a personal analyst and 24/7 customer service via this account.
- Basic: This second option also comes with a personal analyst and asks for a deposit of $2,500 and gives you an introductory private session with the analyst so you can take advantage of their skills. The maximum amount you can invest in this account is $9,999.
- Silver: This account requires a deposit of $10,000 and brings monthly private sessions with analysts. Traders can also benefit from weekly market reviews and can access market research. Their investment can go as high as $24,999.
- Gold: You need a deposit of $25,000 for opening this account and it will give you access to a smart money management plan so you are able to make smarter trades. You can invest as much as $99,999 via this account.
- Platinum: This is the last account option that can be opened with $100,000 and can be used for investing $499,999. You can enjoy a direct line to your analyst under this account, get monthly and weekly reviews and research and even get protected trades.
What banking methods does BrightFinance offer?
As soon as you make your account, your next concern will be funding it because you cannot start trading if you don’t have any money in your account. But, how do you add funds? In order to do that, you need to check out the banking options that BrightFinance is offering and see if they will work for you. Some brokers offer very limited option, which can be extremely inconvenient for traders as making deposits and withdrawals becomes a hassle for them.
Luckily, the same cannot be said for BrightFinance because they have added a wide array of options to choose from. They have the traditional method available i.e. bank transfer, the more advanced credit and debit cards and they have also added the modern e-payment options that many people prefer these days. Different cards are supported, which also adds convenience. Plus, the broker also allows its traders to make deposits in the form of digital coins, if that seems like a better option.
What educational opportunities are available at BrightFinance?
BrightFinance has established an education center on its website where e-books, videos and tutorials are provided for its clients. Webinars and live trading sessions are conducted by expert traders, which can be immensely helpful in enhancing knowledge and learning new skills. These can also be accessed via the education section.
What kind of support can you expect at BrightFinance?
For BrightFinance, its customers are a major priority and the broker has emphasized this fact by offering a multitude of customer support avenues for their ease and comfort. First, there is an extensive FAQ section where the broker covers every possible aspect of the website and trading in general to ensure its clients don’t have to wait for answers. If they still have any complaints and concerns, they can get in touch through email, phone, chat or online contact form. On every end, knowledgeable and friendly representatives are available to assist right away.
The Final Verdict
After you have gotten answers to these questions, you can ascertain that BrightFinance has covered every aspect of trading quite well. It comes off as a complete package that can help every trader in having a smooth and successful experience.