Rapid technological evolution and progress in the global financial market have fostered an explosion of interest in digital trading. Today, the niche has seen several developmental projects aimed at creating a unique platform that accommodates the demands of customers all across the globe.
On the flip side, these series of developments means that every aspiring trader becomes tasked with the choice of a broker that features several unique options tailored for their needs. However, only a few platforms have been able to achieve that feat – one of which is Brightfinance.
Beyond the traditional financial market, Brightfinance is an innovative platform that recognizes the need for unification of newer markets such as the crypto market with existing landmarks. As such, it has established itself as the prime digital currency broker with several other financial products on the sideline.
For this review, we explore the services offered by this broker and how it works:
A View of Brightfinance
|Minimum Initial Deposit||$250|
|Asset Covered||Cryptocurrencies, Forex Metals, Forex, Commodities, and Indices|
|Account Types||Explorer, Basic, Silver, Gold, Platinum|
|Web-based Trading Platform|
Brightfinance: Expanding Global Reach of Cryptocurrencies
Brighfinance is a trading platform that seeks a way to revolutionize the world of online trading with intuitive approaches. The broker is an advanced trading system with the promise of fostering unrestricted and regulated approaches to cryptocurrencies as well as their availability. True to form, it has a broad portfolio and looks towards further expansion.
Brightfinance takes a distinctive approach towards meeting up with the dynamicity of the market. As such, it provides several avenues of making the most of liquidity in markets. However, the highlight of this broker is its dedication to security and data protection. Though not entirely decentralized, it presents the world with the representation of the power of the underlying technology of cryptocurrencies – blockchain technology.
This is highlighted by the flexibility it affords its clients on trade. As an intuitive platform, Brightfinance harnessed applications of cutting edge technologies to further ease clients of all experience levels into classes of digital trade. Its trading platform reaches beyond a simple user interface to showcase a wide variety of trading instruments and seamless trade execution.
From Forex instruments, currency pairs, commodities to cryptocurrencies, Brightfinance creates an environment for investors willing to diversify their portfolio.
Trading Instruments and Portfolio
Brightfinance aims at being at the forefront of advancing the financial market landscape. As such, it features an extensive portfolio designed to attract investors and accommodate the calls of supply and demand. Financial products ranged from Forex, commodities, Indices, stock, and shares to cryptocurrencies align the platform’s goal of being the prime trading platform.
On Brightfinance, institutional investors and retail investors have the opportunity to try out new landscapes while exploring the existing market for products with the potentials of maximising profit. It considers the chasm between the traditional financial systems and the alternative currencies, otherwise known as digital currencies or cryptocurrencies.
It provides support for over 200 crypto instruments and has its most traded pairs as Bitcoin (BTC), Ripple (XRP), Litecoin (LTC), and Ethereum (ETH). Beyond this is its consideration for losses that could occur due to market volatility or other dynamics. As such, Brightfinance offers clients Contacts for Differences (CFDs).
These CFDs offer traders a way of profiting from the market over a period. CFDs involve an agreement on the payment of differences between the strike price placed on an asset and the price at the end of a stipulated period. Though these contracts hold a measure of risk, Brightfinance opens ways to profiting by providing several educational materials for weighing trading decisions.
The platform also offers future contracts or FX contracts. These contracts have their values pegged to an asset and the price dynamicity of a period. It is offered in both oral and written aspects, depending on the clients’ choice. It is important to note that commodities also have a place on this broker.
Brightfinance provides support commodities such as Brent crude and gold while opening the door to trading on the world’s most popular indices. Assets coverage is tendered at competitive prices, and the exchange affords clients the opportunity of opening smaller trades.
Beyond its tableau of assets, the broker stands out by underlining security and privacy as its most reliable features. It features a robust security system that highlights its dedication towards the protection of the clients’ interests. Its trading platform is based on cutting-edge technology and is developed to allow inexperienced traders to ease into the world of digital trading without restrictions.
Regulatory Movement and Trust
It is no news that the widespread adoption of cryptocurrencies mainstream is partly impeded by the lack of a regulatory system. Brightfinance places a large part of its services on offering easy access to cryptocurrencies. As such, it serves as a bridge by subjecting its activities to different regulatory parties.
Brightfinance is authorized by the Cyprus Securities and Exchange Commission (CySEC). The Exercise of Investment Activities and trade proceeds are subjected to the regulatory framework of the CySEC. The trade laws of Spain also factor in the regulatory movement of the broker.
The Financial Investments Directives (FID) of the European Markets also plays a role in ensuring the legalities of the system. For Brightfinance, it protects the interest of its clients with compliance with these regulations and controls conflicts of interest by directing the issues to the jurisdictional court of the client.
Brightfinance reaches out to several parts of the globe with its unique trading experience. Its support for cultural diversity edges it closer to the goal of advancing inclusion. The broker has its platform built to be so accessible that clients from different parts of the world can enjoy trading. It has a multilingual feature on its interface.
The feature is made to enhance the interaction of several nations with its platform. The languages include Deutsch, Spanish, English, Italiano, and five others.
The broker’s security system is uniquely developed. Though not 100% fool-proof, its security protocol ensures the safety of data and funds while trading with the platform. Its system is integrated with the Secure Sockets Layer (SSL) for data protection and anonymity. Its layers of encryption ensure that DDoS attacks and privacy issues are averted.
Crypto investments are ensured a high measure of protection with cold wallets and integrated hot wallet services. Brightfinance has a policy of keeping on 10% of its funds online while securing the rest in a cold wallet. The responsibility of keeping the relevant keys and passwords is relegated to the client.
Government-issued currencies are apportioned to a custodial holding account of choice by the client. This is another reason for its emphasis on proper validation of identity before trade or during registration.
Transactions on Brighfinance can be carried out through various methods of payment. Wire transfer is one of the primary methods accepted by the broker. Other modes include MasterCard, Visa card, PayPal, MAESTRO, and Carte Bleue.
Fees and Charges
Trading activities on the broker are subject to minimal charges. Fees on Brightfinance are broken down transparently such that there are no hidden charges on transactions. The majority of its charges are based on the payments method in use and account activities. The exchange details its fee terms in its agreement.
Customers have the advantage of trading with commissions as low as 0.87% with other charges based on the account and payment method of choice. Below is a breakdown of the fees per payment method.
|Payment Method||Wire Transfer||Visa||MasterCard|
|Deposit Fees||25 USD||None||None|
|Deposit Time||5-7 Business Days (depending on the bank)||30 minutes||30 minutes|
|Withdrawal Time||5-7 Business Days (based on the bank)||5-7 Business Days (based on the bank)||5-7 Business Days (based on the bank)|
Customer Support System
Trading digitally is not exactly a walk in the park. Brightfinance understands this and has a customer support system tailored to attend to the needs of clients. The platform has a help center with an email address and phone number that allows you to direct all inquires and queries to the appropriate quarters.
This help center also opens to an FAQ section that addresses the commonest issues that could be faced by visitors and clients. The response system is relatively prompt and open 24/7. It also integrated a LiveChat feature that has a quicker response system as opposed to sending a mail to the customer service representative. The feature is only available to registered client’s, though.
The Brightfinance trading platform is engineered for ease and simplicity for clients. It is integrated with the Activ8 technology, which allows fluidity in navigation through the system. The platform is web-based and as such, improves its aim at trading globalisation and financial inclusion.
It has no OS-compatible interface available and this could be seen as one of its limitations. This is, however, made up for with the comprehensive nature of the trading platform. It includes several charting tools and indicators tailored to improve decision making in trading activities and customization.
Users get to explore detailed information and updates on the dynamics of the market, economic events, driving forces of the market valuation as well as the price movements of the assets. Leverage trading, margin calls, roll over and Double up features all team up to make trading fun-filled and profitable to users.
Research and Insights
Research is not exactly detailed and provides insights to traders on market movements as well as other landmarks. It features a blog with news and articles related to the financial market and economic movements. Its homepage also opens to price changes in assets and the dynamics involved.
The educational materials provided by the broker highlights major economic events as well as assets coverage for technical or fundamental analysis. It has a media widget that highlights the history of cryptocurrencies.
Nature of Accounts
The account options on the platform are one of the best. It accommodates the needs of clients of all experience levels and limited capital. The accounts are of different nature but provide clients with features tailored to help them minimize simple losses and raise up their earnings.
They are unique and yet similarly provide adequate information for maximizing profits. They are:
- Explorer Account
The basic account entails a minimum deposit of $250 and has its range set at $2,000. This account provides a good fit for beginners and clients with limited capital. The features are minimal and leveraging on the account retains the set value of 1:5 to 1:200.
This is so because leverage is also dependent on the asset class and account activities. Apart from a round-the-clock customer support, clients here have the benefits of a professional charting system for basing trading decisions.
- Basic Account
The basic account is an extension of the Explorer account. It has a deposit range that runs from $2,000 to $10,000. Leverage trading opportunities is the same 1:5 to 1:200 opening. The benefits of this account reach beyond a profession chart to a session with a personal analyst.
Users get an Introductory Private Session with a trained or experienced analyst and a 24-hour customer support with LiveChat access makes the account a good one for trading.
- Silver Account
Here, clients have the same round-the-clock customer support benefits as the previously mentioned accounts. However, the deposit limit is ranged from $10,000 to $25,000. Clients get sessions with a personal analyst as well as monthly private sessions with an experienced analyst.
The account is juiced up with weekly market reviews and detailed financial research. Leverage is 1:5 to 1:200 and trading experience is guaranteed to be relatively easy.
- Gold Account
The Gold Account provides clients with a Smart Money Management Plan. The account is highlighted by weekly private sessions with an experienced analyst for investment plans and other decisions. They also get a personal analyst and weekly market reviews alongside detailed financial research.
The deposit range is from $25,000 to $100,000. Leverage runs from 1:5 to 1:200. This account also enables the users to have access to the LiveChat feature of the platform for further interactions.
- Platinum Account
Deposit range for the Platinum Account is $100,000 to $500,000. The account entails a Long term financial plan by a Senior Account analyst. Clients have access to a direct line to the account analyst and weekly private sessions with an analyst. Other features include Monthly and Weekly Market Reviews.
These features also spread through to detailed financial research and Protected trade choices from the account analyst. The leverage remains 1:5 to 1:200 with 24/7 customer support access.
Trading and Registration Requirements
Brightfinance is regulated and has several requirements in compliance with policies and regulations posed by the bodies in charge. It requires KYC compliance from clients which dictates that users provide modes of identification before completion of registration.
Given the simplicity of its network, the registration process is straightforward. However, clients will have to tender documents of identification i.e. a government-issued international passport or identity card. The requirements also entail the submission of a residential permit or identification such as the utility bill.
Summarily, the documents required to be faxed or emailed to the broker are:
- Snapshot of Identification card, international passport or Driver’s license
- Legal residential permit or utility bill
Brightfinance provides a win-win situation for clients and enthusiasts with various integrated ways of maximizing revenues. One of the easiest is the referral program. So, clients get to earn by recommending several others. One key benefit of this program is a 10% commission paid on trading by referred parties.
What You Need to Know About Brightfinance
Brightfinance has been established as a unique platform to improve access to the crypto community. It levies constant development in the space to tender diverse offerings to institutional investors. Hence, its offerings tend to the traders with aims of diversifying their portfolios.
However, its services are not restricted to cryptocurrencies. It harnesses constant progress in the global financial markets to provide interested parties with several options for making profits from liquidity. Its platform ensures that customer’s needs are attended to promptly while minimizing hassles related to digital trading.
It provides the best fit to traders seeking to test the waters before moving in fully by opening its doors to smaller trade openings. Response to queries is apt and its interface is user-friendly and impactful. The platform seeks to unify diversities in the global market structure while providing a legal ground for the acceptance of cryptocurrencies in larger circles.
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