PaytechNo Review – Asking Some Important Questions about the Broker

PaytechNo Review

With cryptocurrencies becoming the talk of town, the attention of people all over the globe has focused on the financial markets. After a stumble initially, these markets have experienced a significant amount of growth, despite the COVID-19 pandemic wreaking havoc globally. Their potential of helping people make high returns in a short time span, without having to work round the clock or requiring anyone to go out has only added to the appeal.

Consequently, online brokers have seen their demand rise and this brings you to this PaytechNo review that gives insight into this particular brokerage and its services.

In today’s market, it would be downright irresponsible of people to make any decision without doing research and going through reviews and feedback. When information is available right at your fingertips, why wouldn’t you take advantage? Moreover, the internet is an unregulated space where anyone can create a website with ease, so you have to ensure that you are choosing a legitimate platform for your trading needs.

Looking at the surface is not enough here because it doesn’t tell you the whole picture. For instance, a broker offers you access to the financial markets, but which market?

If you want to trade cryptocurrencies, you have to ensure that you find a platform that can give you access to digital currencies. Similarly, some people want a company that provides them with excellent customer support, while others are more conscious of the security features that are used. Depending on these priorities, no one brokerage may fit the needs of every trader.

Thus, it is vital that you dig in and find as much information as you can about a broker before you decide to use their services. While it is possible for you to change platforms, you shouldn’t forget that it takes your time and you may even miss various opportunities during the process.

In some cases, financial losses may also happen, which you want to avoid at all costs. The issue is that the financial markets are teeming with online brokers these days. Every few days, a new one is established and if you go through their offerings, most appear to be similar. This can lead to a great deal of confusion and many people are unsure of what to do. Should you opt for a new broker, as they will have the latest tools and features, or go with an old one because they have the most experience?

The ideal way to resolve your confusion is by asking some important questions about a broker and then use the answers to make your decision. If you are satisfied with the answers you find, you can take things forward and sign up with that broker.

Otherwise, you can continue looking until you find a platform that meets your preferences. PaytechNo is one of the forex and CFD brokers operating in the market and they are a relatively new addition. This might cause some people to hesitate when considering their services.

However, a quick look into their background shows that PaytechNo was founded in 2017 by a company registered in the Marshall Islands and named MarCo Global Projects LTD. They have gradually drawn a lot of attention because of providing comprehensive services for retail investors and traders alike and their ethical and transparent practices have also earned them a lot of praise.

Nonetheless, you still need to ensure that their services are in accordance with your expectations and preferences. How do you do that? This is where you ask some vital questions and assess the answers. The following review can help you in accomplishing this goal:

Broker	PaytechNo
Website	https://cryptopaytech.com/
Trading Accounts	Three Account Types; Silver, Gold and Platinum
Minimum Deposit	$250
Assets Coverage	Forex currency pairs, Stocks, Cryptocurrencies, Indices and Commodities
Trading Tools	Trading Indicators, Trading Calendar, Calculator, Signals, Live Charts, Technical Analysis Tools and Reports, Price Alerts, Market Research, Economic Calendar, Financial News and Risk Management Tools
Education and Training	Yes; e-books, online video courses, webinars, seminars, tutorials, in-depth research and glossary.
Customer Support	24/5 support via email address, phone number, live chat and online contact form. An FAQ section is also available.
Security Policy	KYC (Know Your Customer) and AML (Anti-Money Laundering)
Parent Company	MarCo Global Projects LTD

What markets can you access?

While there are numerous questions that you have to ask about a broker, the most important one is regarding the markets and instruments you will find on their platform. If they don’t offer the ones you are after, why bother looking at anything else at all? There would be no point in considering any other aspects of their service because you cannot trade the instruments that you are interested in.

The financial markets are extensive and there are countless trading instruments that can be found. It is important to remember that every single instrument is different and doesn’t provide you the same level of return, or carries the same risks.

Therefore, you have to consider your risk tolerance, your financial goals and your capital when deciding what instruments to trade. You can choose to trade in a specific market, or you can also decide to diversify you portfolio. The latter is more recommended because it is great for minimizing your risks and maximizing your profits. Nevertheless, you should remember that not all brokerages will give you this option and you have to check their asset index to find out what you can and cannot trade.

Doing so with PaytechNo will show you that they have provided their clients access to some of the most renowned and well-reputed financial markets in the world. The diversity of options ensures that every trader can find an instrument that draws their interest and is capable of generating the kind of returns they are after. You have more than a 100 trading instruments that can be explored here and each of them are the top choice in their respective markets, ensuring solid profits for everyone.

You can begin with the stock market, which is known for being very profitable, as many of the world’s leading investors have made their wealth there. The ability of trading shares of some of the top companies in the world at PaytechNo is definitely hard to resist, as you can find names like Google, Apple, Amazon, Alibaba, eBay, Salesforce, Tesla, NVIDIA, AT&T, Exxon Mobil and Sony.

You can also trade baskets of stocks from different industries if you decide to trade in the indices market, which is known for its lucrative opportunities. Profitable indices like S&P 500, FTSE 100, NASDAQ 100, CAC 40, DAX 30 and Nikkei 225 are some choices you can find.

The foreign currency market is another avenue that you can check out, which is the largest financial market in the world. Its daily trading volume is more than a whopping $5 trillion, which makes it a very attractive space for those who want to make quick money.

You will find major and minor currency pairs added by PaytechNo and even some exotic ones that can be quite profitable. These include EUR/USD, AUD/NZD, USD/CAD, GBP/USD, EUR/GBP, USD/CHF and USD/JPY. Other than fiat currencies, digital currencies are also available.

Indeed, you can access the cryptocurrency markets at PaytechNo and enjoy trading some of the most popular cryptocurrencies today. Some names include Bitcoin, Tether, Ethereum, Litecoin, Dogecoin, Ripple, NEO, Bitcoin Cash and Monero. The commodity market is recognized as one of the oldest ones and can offer stable and consistent returns in the long run, thereby balancing the trading risks in your portfolio.

Hard, soft and energy commodities are available here, such as precious metals like gold and silver, agricultural products like wheat, coffee, corn, sugar and rice, and energy commodities like natural gas and crude oil.

Which trading platform can you use?

It is not just what you can trade that’s important to consider, although it is undoubtedly crucial, but how you can trade is also an essential element that cannot be ignored. This means checking out what kind of trading platform the broker is offering to you, as it will affect your overall trading experience with them.

The trading platform is basically the software that opens the door of the financial markets, lets you open and close trades and use trading tools for making decisions. You will find traders complaining about lags in the trading platform, or it executes trades slowly, which can result in inefficient trading.

In addition, some platforms just don’t have good tools that can be useful and this will also affect your trading performance as well as your profits. Subsequently, you should take the trading platform of the brokerage into account and determine that it can keep up with the markets.

What is surprising about PaytechNo is that unlike most other brokers in the market, they don’t offer a single trading solution to their clients. Instead, they have added several trading platforms for their clients to select from and this is undoubtedly appealing.

With multiple choices at your disposal, you will be able to pick the best one that can help you trade how you like. A look at the trading platforms at PaytechNo will show you that they have given you access to the best in the form of the MetaTrader4 platform. All you have to do is run a search for the leading trading platform in the market and MT4 will pop up.

It is highly recommended by global traders due to its modern technology and advanced trading tools and features. The availability of EAs (Expert Advisors) allows you to automate your trading by developing a unique system in accordance with your goals.

PaytechNo is catering to more than 200,000 traders through the MT4 trading platform and helping them enjoy fast trade execution, combined with one-click trading features. It can be downloaded on both Mac and Windows devices, as per your preference.

Along with this platform, they have also added a WebTrader, a platform that’s accessible through the web browser on any device that’s connected to the internet. This doesn’t require any downloading anywhere, which makes it quite flexible. There is no need to worry about a learning curve either because it is easy to use and navigate for everyone, due to tis straightforward interface.

Last, but definitely not the least, you will notice that PaytechNo has also added mobile trading apps for Android and iOS devices and these are really handy for trading on the move. You don’t have to miss out on any opportunity because you can keep up with the markets, no matter where you are. The trading apps also give alerts and notifications, so you will know what is happening at all times. Apart from this feature, the apps like the other two platforms are equipped with good and cutting-edge tools.

The goal of PaytechNo is to allow its clients to make well-informed decisions, so they have added the most modern trading tools to their offerings. There is an economic calendar that updates about economic releases and market events, a set of technical analysis and risk management tools, advanced charts that come with multiple time frames, daily market news and updates, price alerts, trading signals and indicators that provide insightful data for tracking trends and patterns.

Is there any security?

After you have checked the trading platforms, you should now take into account the security provided to you by the broker. A secure trading environment is a must because it will help you focus on your trading rather than stressing about the safety of your deposits, or your sensitive and confidential data.

There have been too many cybersecurity incidents recently, where people had to suffer monetary losses, or their information ended up in the wrong hands and they have to deal with the consequences of identity theft. These are the downsides you have to face when you trade online, but this doesn’t mean that the risks cannot be minimized.

There are security policies and features that can be used by a broker, who you depend on for keeping your personal data and your money safe. Not every company will make the same kind of effort, so asking questions about security should be your priority.

Asking about security at PaytechNo will give you peace of mind because their answers are more than satisfactory. You will immediately see that they have been extremely thorough in creating a secure trading environment and have left no stone unturned in ensuring their clients don’t have to worry.

To begin with, segregated customer accounts are maintained by PaytechNo for depositing their funds. This means these accounts are separate from the company accounts and the funds in them cannot be used for any of its obligations. They are only utilized for trading activities and if the broker were to file for bankruptcy, your funds will be returned to you. The deposits are kept with some of the top banks and this can mitigate the risk of theft and misappropriation as well.

Other than funds security, your data is protected through SSL (Secure Socket Layer) technology and 256-bit data encryption. This helps PaytechNo in keeping your confidential information safe from outsiders or hackers who may try to steal it. Even if they do hack into the system, the encrypted information will be of no use to them. If you are wondering about what data is accumulated, you can check out the Privacy Policy of the company. They also reiterate that your information is not licensed, rented or sold to anyone without your consent.

Another impressive aspect of PaytechNo is its compliance with AML (Anti-Money Laundering) and KYC (Know-Your-Customer) security policies. These are meant to reduce the risk of identity theft, financial fraud and money laundering, which they do by asking for proof of ID and proof of address from every trader making an account on the platform.

This prevents criminals from making fake accounts for illegal reasons. Proof of ID needs a valid ID card, passport or driving license, whereas proof of residence requires a utility bill, like gas, electricity or water, or a bank statement that shouldn’t be more than three months old.

Are there any registration requirements?

Registering with a broker is how you will be able to access their services, so you need to know if they have any requirements that you need to meet. Some companies do require some documents, contract signing, or have approval procedures you have to go through and checking them beforehand can help you stay prepared.

After all, you want to get done with the process as quickly and efficiently as possible, so you can start trading right away. No one wants to have to jump through complex hoops to register and this is what PaytechNo has kept in mind when coming up with their registration process.

They have not set any such prerequisites that you need to worry about and the process itself only involves filling out a form on the PaytechNo website. Hence, you will not feel overwhelmed or intimidated in any way when you decide to register here. The form itself asks for basic details, such as name, surname, country, phone number and email address.

Choose a language from the five given options i.e. German, English, Polish, Russian and Spanish. You need to be 18 to sign up with then and not live in the USA. Also, you have to go through their Terms & Conditions and agree with them.

What account options can you find?

It is considered a norm for brokers to provide account options to their clients, especially those who are offering their services to traders of different skill levels. They consider that every trader has a different risk tolerance and trading style, so their preferences can vary.

This is exactly what PaytechNo has also done and it has ensured that the trading conditions and features of the accounts are in accordance with the preference of traders they are designed for. A total of three choices can be found and you can go through the options to find the one that suits you.

The options begin with the Silver account at PaytechNo and this one is for newbies and beginners. The second option is called Gold and this one is developed for intermediate traders, while the Platinum account is for professionals and experts.

The leverage offered for every market varies from account to account, adjusted in accordance with the traders’ skills. The leverage for the forex market is 1:200, 1:300 and 1:400 for the Silver, Gold and Platinum accounts, respectively. For indices, commodities and precious metals like gold and silver, the leverage is 1:50, 1:100 and 1:125. Stocks/equities have a leverage of 1:20, 1:40 and 1:50 in the three accounts.

The account features that PaytechNo has added include a 25% swap discount for the Gold account and 50% discount for the Platinum. You can also get news alerts, fifth decimal, hedging support, webinars and videos, customer support, a dedicated account manager and free VPS. There is also the option of Islamic account available.

Do they offer customer support?

Another question you have to ask about PaytechNo before reaching a conclusion is about their customer support. You don’t want to be left stranded when you require assistance in case of a problem, which might occur at any time. This is not something you need to worry about here because there are numerous customer support channels provided to you.

You can send in an email, give them a call, or schedule a callback by filling out the online contact form. A live chat option is also given and the FAQ section can also give some much-needed answers. Support is available 24/7 and educational resources are also given for help.

What is the Verdict?

When you go over all the answers about PaytechNo and its offerings, you can safely conclude that it is a good and comprehensive solution for trading.