Like many of you, I’m a huge fan of cryptocurrency trading, but until a year ago, there were very few options in terms of how can you get involved in the market with the best trading conditions. Cryptocurrency trading platforms started to show up and for the past 5 months, I’ve been dealing with MGC Logic. Today I want to talk about my thoughts on the company and some of the services available.
How’s the trading platform?
In a few words, the platform is very simple by design, I guess because the company to provide a solution that’s suitable in particular for beginners. Since I already have a few years of trading experience, it won’t have bothered me to work with a more complex platform. However, one of the most important things to notice is the integration of TradingView charts. My strategy relies on technical factors and from this point of view, the charting is optimal at MGC Logic.
The most important features
Since I wasn’t convinced in the first place to start big, I opened a basic account with $250 to see that everything is ok. After a few trades and successful withdrawal requests I’ve decided to take it up a notch and upgrade to a Bronze account.
At first glance, the company tries to offer the best for its customers, with the Pro Webinars highly informative. I do receive SMS trading signals and sometimes they prove to be successful, but in most parts, I prefer to rely on my own ideas to trade.
For a trader who’s just starting with cryptocurrency, there are many useful materials, ranging from technical analysis, video chart analysis, weekly market reviews, and many others. Spreads are surprisingly low and I’m glad I can trade BTCUSD with $1 spread. Although they tend to increase when it comes to other low-liquidity pairs (which is where MGC Logic could make some adjustments), I stick to the most important ones.
That happens because strategies based on technical principles are proven to work better in a liquid environment. By doing so, you’re not only increasing the odds of you finding more reliable trading opportunities but also you can get in and out of the market with very low costs.
To summarize, my experience with MGC Logic had been ok and if you want to trade CFDs based on cryptocurrencies, I think there are few places where you can find much better conditions.
Giorgi is a news reporter and financial analyst at www.forexnewsnow.com He has 3 years of experience in analyzing the financial markets of Forex and cryptocurrencies. He also likes making hidden jokes in his articles.