“A fool and his money are soon parted.” This proverb originates from the early 18th century and has been changed since then. Its meaning however remains the same: if you’re willing to give away your money quickly, you’re a fool.
I’m quoting this proverb in order to object to the idea that trading with brokerages will be profitable for everybody. This is not always true and we need to understand what is the reason behind it if we want to succeed. All my trading life, I have seen lots and lots of traders going back home because fake forex firms did not let them breathe. Below are some of the ways they act.
1) SCAM ALERT! Their latest promotion is to offer trading accounts for free, but in order to claim this ‘freebie’, you need to spend the initial $250+ to open an account. This is a dishonest and misleading tactic that they are using to lure newbies into depositing their money with them, then they will take your money and manipulate the trading accounts so that you lose most of your investment while giving you a tiny amount of profit.
2) Their customer service reps are cold, unprofessional and rude by nature. If you have a problem with your account, they will tell you to ‘prove it’ and when you provide them with the relevant documents, they will accept it without apology or even an acknowledgement that they were wrong. This is another example of their unethical business practices, as they are unapologetic about the mistakes that they make.
3) Their platform is nothing to shout about and there is no reason why you would want to pay them in order for your account to be linked with this sub-par trading software; therefore it is recommended that you avoid FBS at all costs!
4) The company uses sub-par financial services where they will feed you with a tiny amount of profit by manipulating your account while costing you most of your investment. This is one of the main reasons why it is not recommended that you trade with FBS.
5) The trading conditions are very unfavourable for you. This is because brokers don’t usually give their clients the best trading conditions possible, especially if they intend to make most of their investment in the long run.
6) They have a very low payout ratio, which means that your risk to reward ratio with them is not favourable. In other words, you may end up paying more in order for them to give you a small amount of profit.
7) They do not verify provided information such as wrong addresses and allow people who are using incorrect contact details. This is a very big red flag and even if you are trying to avoid paying them, they will not hesitate to close your account and immediately block all of your trading activities. They don’t ask for proof of identity because they can’t be bothered with it.
With so many fake firms surrounding traders, it has become really hard to land on a firm that will work for you. To help the ones struggling out there, I have decided to review my old friend, Green Tower Investments. This company in the last year grew tremendously and is now one of the few trustworthy online trading account services available. I have used it in the past and I am familiar with its services, hence why we will be looking at the Green Tower Investments review.
Please note that my reviews are also based on what I feel about a company rather than on what other people say about it. The goal of this article is to help you make an informed decision.
Green Tower Investments can be used for a variety of securities. It offers a variety of assets that you can trade in the US or even international market. It also has a well laid out customer service department. This is especially important for international trade, where long distances are more of an obstacle.
It provides an effective trading platform that can be used on both mobile and computer devices. The platform is fully mobile-responsive and well equipped with all the features you will ever need for online trading. I feel like mobile trading is mandatory these days. If you can’t trade on the go, I don’t see why you would want to bother with a platform.
This brokerage is trusted by thousands of traders around the world. It offers top-notch customer service and aggressive educational tools which are important for any trader looking to have long-term success in online trading. without educational tools, you might end up throwing your money away or losing it together.
Green Tower Investments doesn’t charge any maintenance fee or fees for any of its platforms. This makes it a great platform for traders that want to save on their trading expenses without compromising service quality or the ability to trade. I think affordability counts a lot in the long run because if you are constantly spending unnecessary fees, your account will still be losing money even if it gets green. This is definitely one of the affordable brokers on the market today. If you were to compare its fees with those offered by other brokerage companies, you will see for yourself how much lower they are. I even compared it with my previous broker (which as you can tell, I wasn’t very happy about).
Intuitive and Easy to Use
I have personally found it very intuitive, easy to use and a breeze to start my trades with. I remember once while using the website, I was able to trade with little effort and in no time, the trade was executed. It can be a good choice if you are looking for an easy-to-use platform. I applaud the company for its customer-centric approach.
It allows you to trade on the international market. You can trade in different investment vehicles using the Green Tower Investments platform. The company provides an easy way to become a trader and buy international assets without any problems.
Reasonable Minimum Deposit Requirement
It has a reasonable minimum deposit requirement, which makes it an ideal option for everyone regardless of their financial status. I feel having these rigid deposit requirements definitely stops people from investing in the stock market who would rather invest in a company or venture of their own. The best way to get started is to get the minimum requirement out of the way and start your investing journey with a company you feel is reliable.
Good for the Young Lot
Green Tower Investments is ideal for newbies who want to start out with low capital. The company offers low margin rates as well as different payment plans that can be used to easily deposit funds into your account.
I also had a great experience with their customer service department. I called them late in the evening (8 pm EST) and got someone on the other line with a pleasant voice and excellent English. The person on the other line was also very helpful in helping me fix my problems, which was a relief since I didn’t have to wait till the next day (I hate waiting). Once I couldn’t access the charts; I emailed them and got a response in less than 10 minutes (I was impressed).
Tools and Instruments
In addition, Green Tower Investments offers many investment tools that can be used to access any information available on the market. It is also one of the few brokers available in the market today that offer so many different tools for every type of investor to use. It also enables you to perform multiple types of investments and enjoy immediate access to them without having to wait for your transactions to be cleared first. This is probably one of its best features because there are times when I want to trade but don’t want to stay glued to my computer all day.
No Free Demo Account
Unfortunately, the website does not offer demo accounts that enable traders to practice their trading techniques without risking any capital. Through demo accounts, companies make it easy for traders to use demo accounts and get acquainted with all its features before using them to trade with actual money.
No News Section
However, the website lacks information about current occurrences in the market. I would have loved to see a news section where you can get access to all the latest happenings relating to the stock market and investment companies. There are also times when unexpected events arise such as mergers or acquisitions that can affect your trades if you don’t have up-to-date information. Green Tower Investments doesn’t offer a news feed to keep you informed of any changes or updates made by the company.
Green Tower Investments is a great alternative to other services out there and surely one of the best options for any investor who wants to save some pennies while getting world-class services. I’d give it a shot; at least, you’ll be able to say you tried. If you have been planning on investing, but feel it’s an expensive process to start off with, then you might want to give Green Tower Investments a shot. My advice would be to start with a small amount, but it’s up to you.
Disclaimer: This review is written from my own experience and my self-knowledge only and this is not a recommendation