Cryptocurrency trading is quickly catching up to speed. This year has been nothing but tumultuous for the markets, both legacy and crypto.
2020 started great as all major indices were climbing in an upwards direction – slowly, but steadily. The same can be said about the crypto market. In fact, Bitcoin had an impressive run up until the end of February, shortly before things took a turn for the worst.
The global coronavirus pandemic took the world by a storm. What started off in China quickly moved to the rest of the world and had a cataclysmic effect on the markets. The S&P 500, NASDAQ Composite, DJI, and major international indices tumbled in the middle of March, triggering Wall Street circuit breakers at a never-before-seen rate.
The same is true for Bitcoin. Its price lost 40% in one day, marking a yearly low at around $3,600.
But while the selloff was sharp and, perhaps, unexpected, the recovery was also notable. The markets recovered while some indices such as the NASDAQ Composite also reached an all-time high.
All of this saw trading volumes shoot through the roof. As the demand for trading services increased, so did the number of platforms offering it.
TradeLax offers innovative online trading for everyone, regardless of whether you’re a seasoned professional or a beginner.
What is TradeLax?
TradeLax is an online trading platform that offers more than 200 financial instruments. With over 200 different assets, including but not limited to currencies, stocks, indices, commodities, and cryptocurrencies, users surely have a lot to pick from.
The platform is relatively easy to use, and it’s rather intuitive. Some of the main features to consider include:
There’s an education and training team to provide users guidance whenever they may need it. Apart from that, the platform offers all the trading tools one might need.
The official website of TradeLax states that the platform provides a state-of-the-art platform that maintains a safe online trading environment, shielded by the most sophisticated technology.
All-in-one trading platform
As mentioned above, users can engage with different assets and hold multiple positions over various markets.
Looking at the trading interface for the cryptocurrency platform, it seems relatively straightforward.
On the far left side, users can select the various coins they want to trade and open both long and short positions. This is quite convenient as it allows traders to capitalize on both positive and negative developments in the market.
In the middle, there’s the standard trading chart. The interface is conveniently supplemented with a news section. Most markets are reacting to the news quite considerably, and cryptocurrencies are no exception. Having the latest news at the tips of your toes could be a valuable trading tool.
Below the chart, users can monitor their positions and how they perform. All in all, the software looks standard, easy to use, and convenient.
KYC Policy: What You Need to Know
Cryptocurrencies are largely touted as being privacy-oriented, and while it’s not true for all of them, it’s certainly true that a lot of users value their privacy.
However, the majority of centralized crypto exchanges have mandatory KYC (Know Your Customer) policies in place to abide by existing regulations. TradeLax is no exception. The company is committed to both KYC and AML laws, and each client has to finish the verification procedure, which includes providing the following documents:
- Proof of identity
- Proof of card ownership
- Proof of address
- Declaration of deposit form
With all of the above being said, TradeLax looks like a platform that allows users to have it all under one roof. Regardless of whether you want to trade crypto or the stock market, it’s a place where you can have it all.