Is Mobile Trading Platform Safe?
Mobile trading has been on the rise recently with many traders enjoying the unending benefits of trading on the go. One concern that some traders have is about the safety of mobile trading platforms. How safe are they? Can you withdraw your money safely? These are some of the questions that traders seek answers to before they can trade using mobile trading platforms.
How safe are mobile trading platforms?
The question of the safety of mobile trading platforms is very subjective because it put all the platforms under the same scrutiny. The reality is that some platforms are very safe while others have security concerns. Therefore, you cannot say with certainty that mobile trading platforms are safe or unsafe; it depends on the specific trading platform that you are using.
What is an example of a safe mobile trading platform?
One of the best examples of a safe mobile trading platform is the MetaTrader4 (MT4) platform. This is one of the most reliable platforms that you can easily trade and face no security concerns while trading.
MT4 trading platform security features:
The safety of MT4 mobile trading platforms conforms to the highest security standards in trading. The data exchanged is encrypted, thus, no one can infiltrate your personal information. If you are using the web platform, you can use any browser and your data will still be secure. If you are new, you can start with the MetaTrader4 download PC and check how it works before you download the mobile app.
Features of MT4 platform:
- You get complete control of your trading account
- You can create all orders and execution modes
- Interactive symbol charts
- 30 technical indicators
- History of trades
- Financial market news
These are just some of the features that you get when using the MT4 mobile platform. Of course, dozens of other features can be enjoyed when you start using the platform.
How do you withdraw money from an MT4 trading platform?
Withdrawing money from your MT4 account is simple. The MT4 platform provides the necessary infrastructure for the withdrawal but your broker is responsible for finalizing the withdrawal.
In most cases, the process of withdrawal starts with inputting your details and selecting the method of withdrawal that you are comfortable with. Different brokers will have a different range of methods for withdrawing money from the MT4 account. However, the common methods that you are likely to use include credit/debit cards, wire transfers, or online payment solutions like PayPal, WebMoney, Neteller, and Skrill.
The minimum amount for withdraw is set by the broker and may vary depending on the method chosen for withdrawal. For example, you can have the minimum withdrawal limit of wire transfer at $100 while the minimum withdrawal limit for credit/debit cards set at $5.
When it comes to the safety of mobile trading platforms, you would rather go for a popular and reliable trading platform like MT4, which has a safety guarantee.