Before you start your investment, whether in the field of the stock market or cryptocurrency, you must make sure of the quality of the broker or platform that executes buy and sell orders, and its compliance with supervisory standards.
And the French newspaper “Leparisien” published an article in which it mentioned the features that must be available in a good financial intermediary and said that it is important to know who you are talking to, and if the institution does not belong to a well-known banking group, it must be checked that compliance with the decisions and laws of the Financial Markets Authority This is the most important thing to check before you start.
Diversified investment tools
The newspaper explains that with regard to the choice of investment tools, the offers differ for different institutions.
Some, for example, do not allow access to international markets outside Europe or to raw materials.
On the other hand, they all offer to invest in traditional forms of investment such as stocks or European or American ETFs through a technical advisor.
Online Banking
The paper points out that besides the traditional network banks and online banks, which often offer brokerage service, there are also online brokers dedicated exclusively to investments in the financial markets, as some investors like to consolidate all their accounts on one platform, so they will choose the brokerage offer of their main bank, Others will turn to online brokers, who often offer very competitive rates.
In this case, it is important not to neglect to check the presence and quality of customer service.
Check prices to avoid hidden fees
The paper notes that online brokers are paid directly for each transaction, so it is important to properly decipher their fee schedule, and in some cases the fee is proportional to the order amount, with a potentially fixed minimum.
But other brokers may opt for the flat fee, warning - also - of hidden costs as custody fees, account maintenance or subscription fees are sometimes billed.
There is also zero commission on transactions, which is usually suggested by some new brokers coming into the brokerage market, which is usually via mobile applications, but it is important to keep in mind that this tempting offer can sometimes mask some limitations, such as lack of customer service, scope Limited investment support, etc.
Virtual wallet to learn about the markets or improve your strategy
The newspaper notes that the virtual wallet is offered by some brokers to conduct transactions on a fictitious basis, it is open to beginners as well as to more experienced investors, it is also ideal for learning about the markets and different types of orders, following the development of your favorite securities, or testing investment strategies, which are useful Also to understand the risks inherent in stock exchange.