After trading for the past 3 decades, I think I have mastered the art of looking at forex trading companies and telling at first sight if they are trustworthy or not but This experience did not come easily. In fact, I had to pay the price of my precious money and even precious time. I have been in this profession for decades now and I can say that fake forex firms have given me the toughest time. These firms will never think twice before looting all your money and then sneak out pretending like it was the mistake of the trader.
I was sick of losing my assets and then one day my mom’s cousin told me about TrueNorthBit. He said, this broker is a very well reputed one and that he has been using it himself for very long. I was too disappointed to believe at once but after some time I was ready to see what it was like. I am glad that I picked this broker back then because this has helped me the most throughout. Today I am here to review TrueNorthBit for all of you so that you all can develop an idea about what a user or a customer feels about this forex firm. By going through this review, you will be able to gain an idea about what are the most important things that all forex firms should have and then you can make your decision accordingly.
I will be pointing out the major pros and cons of the forum for you. I want to make it clear beforehand that although this has given me a lot of benefits there have been some problems too. Let’s see what TrueNorthBit has to offer you all.
Keep Exploring, Keep Earning
Trading is a very boring and dull area and if you have been trading for the past so many years, it becomes very monotonous. Apart from that, you all must have an idea that trading is not something that you can rely on for longer periods of time. In today’s era, particularly the volatility of the profession is unprecedented and hence you can not stick to one of the branches for all the times to come. The more you explore, the better the survival chances become for you. Here at TrueNorthBit, you are given the opportunity to come out of your comfort zone and explore more areas. This way you will get aware of the other potential revenue streams like forex, indices, commodities, crypto, and much more.
When I started trading back in the 2000s, I was only a commodity trader but when I joined this one, I stepped into crypto and stocks. My working experience with the firm was great but my first crypto deal was not that good. However, my financial manager asked me not to give up and hence my second deal brought me high Investment returns. My stock deals went well from the beginning. I remember I bought stocks of a renowned transportation company and it got me reasonable profits. I know many traders who have been exploring new revenue streams and hence this is a great opportunity for you to add up to your portfolio.
The theme is another point that is important but it is not stressed enough by the traders. If your website does not have a good theme and it does not promote active working then it can turn into a headache in the time to come. A theme is not only about colour pallets and combinations, in fact, the theme determines the overall look of the website and hence you need to make sure you look into it. The theme becomes relevant not only in the longer run, but it also has a huge role in capturing the attention of the traders who come to the website as guests to see if it will work for them.
When I was searching about this forum, the peach and blue theme seemed quite captivating for me. I like how the website has a splash of colours and this is important because it helps you kill the monotony. The font colours and the styles are also good. They help you easily find the options without having to keep roaming here and there on the website. The integrated images also make the website more engaging and attractive. I think the firm has done a good job coming up with the theme that not only makes work easier but also looks pleasing to the eyes.
Compare And Track Stocks Activity
When you are trading, whatever field it is, you need to be very careful about what you pick. Being careful can do nothing if you have not done your homework and researched properly about anything that you are going to trade or your potential deals. For this purpose, good forex firms always take the lead to provide the traders with resources that can help them understand the ground market situation. I have seen many brokers focusing on the importance of researching but they do not facilitate the consumers in this regard.
However, this platform puts in all the effort to make valuable information available. One of the features to facilitate in this regard is the assets comparison chart. You can compare two assets and see how they have been performing in the last few months and years. You can keep tapping on the graph curves to look at the exact values and then make well-informed decisions. Apart from this, the flashing stocks bar is another valuable source of information. The common stocks keep flashing and they have colour-coded values that help you quickly gain an idea about the performance of the stock.
Transparency In Legal Documents
The next thing that we will talk about is legal documents. I have known many firms that do provide legal documents but the catch is that these documents are phrased in a way that they are very loosely written. This allows them to modify the meaning according to what they need and whatever suits them. This helps them slip out of any legal actions that might be taken against them. This is why you are always recommended to go through these thoroughly before you finally decide to join any forum.
Let’s talk about the provided educational documents. In today’s time when trading is advancing and developing at a very high pace, it has become impossible to keep up if you do not read and keep yourself updated. It is very important that we keep in touch with the global advancements and then take steps accordingly. I have noticed that these days traders underestimate the power of reading and going through literature and this is one of the major reasons why they fail to stay in the market for longer time periods.
I have always relied on the resources provided by this website because I find them authentic and reliable. The e-books cover most of the important topics and provide us with detailed insights about them. However, the firm needs to work on them to upload more of them and more often. Apart from the books, I also like the FAQ and the glossary because it saves my time and I do not have to rely on any external sources of information. Another point that I want to raise is that like ebooks the FAQ section is also not updated often and the firm has not included any video lectures. If these problems are addressed then the educational section will be great.
I cannot deny how the firm has a lot of qualities that are very beneficial but it has many disadvantages too that might be a significant hindrance for some traders. Let’s see what cons this broker has.
Available In One Language
One issue that I have seen is that the website is very well laid out but the problem is that the website is functional in only one language which is English. I have seen that this problem is mutual to a lot of forex firms but I think this needs to be addressed on an urgent basis because I know many traders who are not very comfortable with English. A whole lot of them are not native English speakers and hence trading can become a little hard. The more diverse the range of languages, the better it is.
Disclaimer: This review is written from my own experience and my self-knowledge only and this is not a recommendation.