Kodimax Broker Score
Kodimax is a trustworthy FX broker with great trading conditions, a simple yet quality trading platform and various methods of payments and assets for trading. It is one of the first brokers to introduce altcoins within its trading platform and we have given Kodimax a total score of 4/5 stars.
Kodimax Broker Review
Kodimax has proven to be one of the best and the favorite of traders from around the world in the recent days. The broker is known for taking the risks to bring the best trading options to its traders and offering trading conditions that give traders a perfect chance to make a lot of money. But could an online broker offer something different from the rest? Aren’t they all supposed to offer you the same features and services? You just have to sign up, be on a platform, and start trading, don’t you? While these features remain common among all online brokers, the quality is not the same.
Additionally, there are certain options that other brokers have not yet touched but Kodimax already offers them to its traders. Let’s look at all of these aspects and find out if it is really true that Kodimax is different from the rest of the online brokers.
What Makes Kodimax Better than Its Competitors
The Safety of Trading
First of all, you know that you are trading with one of the best online brokers of the world. You are not signing up with some unknown entity. In fact, the broker that you are about to sign up with is known around the world by traders. In addition to that, the company also has proper protection policies for your data and money. All the information that the company requires from you gets encrypted as soon as you enter it into the web forms. Encryption means your information is protected from the prying eyes. In addition to that, the broker also has some strict KYC policies only for the benefit of its customers.
KYC stands for Know Your Customer. When you start the signup process with Kodimax, you will notice that the broker will require a lot of information from you. Some of this identification information can be a bit frustrating for traders to provide. However, all of this is for your own safety. Imagine someone else using your credit card details and identification to open an account with the broker? You would not want someone else using your money would you? For the broker to ensure that nothing of that nature happens, it has to have strict KYC policies in place. This one option makes Kodimax one of the safest places for you to spend your money on trading.
The Big Leverages
When you are about to start a trading career, you have some financial plans. You have some dreams that you want to fulfill through trading. If you are able to execute successful trades consistently, you can become a millionaire, which is the dream of many that come it his career. However, the money you make from your trades depends on the size of the trades. If you make small trades, your profits will be very small. The small profits are not bad but it will take you a lot of time to make a lot of money. On the other hand, you can make huge profits by entering big trades. How do you do that when you don’t have that much money in your account?
That’s where the leverage comes in. If you have leverage from the broker, the broker will contribute some money with you into a trade to increase the overall size of the investment. You can enjoy leverages of up to 1:200 on various assets when you sign up with Kodimax. By 1:200 it means that for every dollar that you invest in a trade, the broker is going to invest $200. Imagine the size of the trade that you will be able to control if you had $1000 in your account. Kodimax does not hesitate from offering such huge leverages to help you make huge profits.
The Tight Spreads
No matter how big the leverages are, you can’t make ample money from your trades if you don’t have the right spreads in place. Spread is the difference in the amount of money that the broker is willing to pay you when you sell an asset against the amount of money it will ask from you when it sells the same asset to you. Let’s take an example to understand this point. Let’s say you buy one US dollar for three Australian dollars. Once done, you would want the value of the USD to increase e.g. now it is equal to four Australian dollars. When you sell your one US dollar back, you will get four Australian dollars when you had only purchased the same dollar for three Australian dollars.
You made a profit of one Australian dollar here. But what if your broker is offering buying the US dollar from you for 3.5 Australian dollars? Since you are on this broker’s platform, you will have to sell your US dollar for that price. Your profit cut in half just like that. On the other hand, if you decide to buy another US dollar, your broker will ask you to give four Australian dollars to do so. This difference of half Australian dollar is the spread. A tight spread means that this price difference is very small. When you sign up with Kodimax and trade assets, the spreads are very tight. Hence, you take away most of the profit you earn on your trades.
The Easy Account
Opening an account with the broker can be quite a challenge. You have to come up with an initial deposit that might not be very small. However, Kodimax has kept things convenience for its new traders. If you are someone new, you should definitely go with the basic account. All you have to do is deposit $250 in your account and you are good to use Kodimax trading platform to enter real trades. There are other expensive accounts as well but they are meant for experienced traders. Not to mention, as you go from the basic to advanced account, the welcome bonus that you qualify for increases. With the most advanced account, you can get a 100% bonus as soon as you sign up.
The Trading Platform
Your overall experience with a broker depends on the type of trading platform you use. There are many different types of trading platforms used by various brokers. You have to keep in mind that the most important thing about a platform is ease of use and simplicity. The last thing you want right after you sign up with a broker is a platform that makes trading look like rocket science. You want to focus on learning trading and the many trading strategies. You don’t want to waste your time learning the platform. The best thing is that Kodimax trading platform is available in desktop and mobile form.
You can download the platform on your desktop computer and take advantage of fast trade executions, trading signals, price alerts, price charts, etc. Additionally, you can download the platform on your smartphone and take advantage of these same features on your mobile.
The Tradable Assets
This is one area where you can say that Kodimax does not even let other brokers come near it. Once you have learned to trade, you want to experiment with various assets. You want to find the asset that goes according to your trading practices. In addition to that, you want to put hedging techniques to use as well. When you hedge, you invest your money in two correlated assets at the same time. By doing an analysis of the past data, you validate that when one asset goes up, the other one goes down or vice versa. You then use this effect to your advantage.
What you do is that you invest in both the assets so if one goes down in value, the other one rises. This way, you will not lose all your money. Whatever loss you incur from one asset will be canceled by the profit you make on the other asset. To do that, you have to sign up with a broker like Kodimax. Kodimax has brought to you thousands of assets from tens of different markets from around the world. If you don’t like one asset, you can move on to the next one. If you like precious metals, you can trade them. If you like the idea of trading soft commodities, you have a lot of options here as well. You also have hundreds of stocks and forex currency pairs to trade.
The most amazing thing is that Kodimax has extended its asset index to include cryptocurrency market in it too. Now you can trade cryptocurrencies as you sign up with Kodimax. What makes this option even amazing is the fact that you can trade many cryptocurrencies and not just the bitcoin. You will be able to invest your money in Dash, XRP, LTC, and ETH in addition to BTC. To sweeten the offering even more, Kodimax offers you leverage on these trades as well. Now you can be a part of the most quickly emerging markets of the world where new traders can make huge profits.
The Training on Trading
Kodimax will not disappoint you want it comes to trading education. Of course, you need this education as you step in this career. If you don’t learn trading, you can end up with huge losses. You might make some money in the beginning with basic knowledge but that effect will not last for a long time. In order to trade successfully and consistently in this market, you have to ensure that you learn all about it. In fact, you should be able to take advantage of even the worst market conditions. All of that can be learned with the help of the training material from Kodimax.
This training material consists of various ebooks, videos, and webinars. Ebooks are perfect for people who want to take their times while learning whereas video courses are excellent for traders who don’t have much time. Seminars are for everyone, even if you have been trading for many years. In these webinars, you have an opportunity to listen to some of the gurus of trading and learning various trading techniques from them. If you sign up with an advanced account, you can even qualify for one-on-one training.
The Trading Tools
You have plenty of trading tools available from Kodimax to help you profit from your trades. The trading signals can tell you when you should invest your money, in which asset and position. In addition to that, you will also receive the market reviews and analysis, so you can know which direction the asset you have invested in is supposed to move in the coming days. You can have access to these tools regardless of the platform you sign up on. Whether you are on desktop or mobile, these options are available for your benefit.
The Customer Support
Last but not least, you will have to love the way Kodimax provides customer support. While most other brokers only invest five days in a week to help their customers, Kodimax has gone a step ahead to make its professionals available for six days in a week. More importantly, these professionals are there to help you 24 hours every day. You can call the company when you want and email when you don’t need urgent help. The FAQs section on the website is one of the most detailed and helpful section you will find on any broker’s website.
Now you know that Kodimax has taken some great steps to stand out from the crowd. It does not stick to the conventional markets and assets. It has brought you cryptocurrencies and an easy way to trade them on its platform. It gives you a big welcome bonus when you sign up on the website, even if you have signed up only with the basic account. It is there to support and help you with your issues 24/6 through email and chat. It offers big leverages and tight spreads in addition to a no-commission policy. It is a regulated broker and one that helps you learn trading before you start spending your real money.