When it comes to investing, using a good broker is just as important as using a good strategy. Traders and investors require a broker that can reach far but charge little, be reliable and secure, but also have a user-friendly website, and more. This is why people constantly go from broker to broker, looking for the best one and continuously asking around for others' experiences.
For the most part, top brokers are fairly similar to one another. They have similar fees, similar assets that they can work with, and even similar security measures. The differences lie in nuances, and it takes a fair bit of experience in order to learn how to recognize them.
This is why companies such as CoinBharat are necessary, as they can help inexperienced traders find the best brokerage platform out there. And, according to CoinBharat, the best broker of 2022 ended up being none other than CEX.IO.
What is CoinBharat?
CoinBharat is a newly-established broker review platform based in India. The company also serves as India's very first finance educational platform, featuring everything on digital currencies, non-fungible tokens (NFTs), and more. The platform also exposes its users to traditional financial tools (TradFi) such as stocks and commodities which can conveniently be found in their own section on the site itself.
The platform was founded by a group of people that primarily consists of Indian finance writers. These are experts on the financial industry who live and work in both India and the US, which made them familiar with both Eastern and Western markets.
These people recognized that the number of brokers in the global financial industry has skyrocketed to hundreds, even thousands. Some of them are dedicated to the crypto industry, others to traditional finance, while some dabble in both worlds. The problem, however, lies in the fact that, with so many of them, it is next to impossible to figure out which one is a good choice, especially for newcomers to the trading industry.
Someone who has been trading for years, or even decades, knows which brokers to go to, and people like that already have their favorites. But, all that a newcomer sees is a long list containing hundreds of names and no idea how to differentiate the good from the bad. So, CoinBharat decided to extensively verify and vet all the brokers on the market for Indian and American customers alike.
Recently, the platform decided to announce its choice for the broker of the year, selecting CEX.IO as the victor.
What makes CEX.IO the broker of the year?
CEX.IO may not be as renowned as some of the more established brokers out there, but that doesn't make it a bad choice. In fact, established in 2013, it is one of the oldest crypto brokers on the market. The fact that it has survived for as long as it did in such a competitive industry alone makes it worth a look.
However, CoinBharat did more than that. It thoroughly researched the exchange, and it found that CEX.IO is one of the most user-friendly brokers out there. Other experts have come to the same conclusion, saying that CEX.IO is even easier to use than established industry giants, such as Coinbase.
Furthermore, the platform features some of the lowest fees that the market has to offer. This is, and has always been, a very important thing to investors and traders. After all, what is the point in making great trades and earning money if most of it ends up with the broker just because they provide trading services?
CoinBharat also liked that CEX did not resort to pushy marketing strategies just to attract customers, with little concern about what will happen to them after they sign up. Instead, the platform opted to have the quality of its service speak for itself. Its growth is almost entirely organic, and the fact that users are willing to recommend it to one another even attracted the more refined clientele.
A difficult year for the crypto industry
After being recognized as the top broker by both CoinBharat, as well as other experts and organizations, the exchange's executive director, Konstantin Anissimov, said that the platform is truly honored to be recognized as such.
Looking back, he recognized that 2022 was an unprecedented year in the crypto industry. Even so, CEX.IO managed to remain steadfast in its commitment to transparency, operational excellence, and institutional-grade security.
The qualities that the platform's executive mentioned have been in short supply lately, especially after the collapse of the FTX exchange, which led many to doubt crypto platforms. CEX.IO, however, stuck to its principles, and that allowed it to keep its customers, despite the shockwaves that the crypto industry experienced multiple times in 2022.
Anissimov concluded by saying that he and the broker cannot thank the community enough for their continued support. However, he noted that this support inspired innovation, allowing CEX to continue to better itself and offer new features that are in high demand.
The platform now intends to continue to support people and businesses in the industry and help them find stability on their crypto journey.
About CEX.IO
As mentioned, CEX was founded in 2013 with the goal of supporting global financial inclusion by adopting cryptocurrency and blockchain technology. These days, it is among the oldest market participants, with a comprehensive ecosystem and highly-intuitive solutions built with ease of use, safety, and security in mind.
Essentially, the platform focused on making it easy for crypto users to access and use crypto rather than jumping on quickly passing trends, like many of its peers, which have since disappeared. As such, CEX was built to be a survivor, and its performance in 2022 proves that. The platform managed to survive when even giants like FTX have fallen, while others are barely managing to maintain some sort of balance.
This serves as a testament to the platform's quality and reliability, and that is one of the reasons why it is the top broker, according to so many independent reviewers and auditors.
Many analysts speculate that Bitcoin still remains the safest choice for crypto trading and most experts are still speculating that BlackRock is waiting for the price to drop below the 85% bear market threshold in order to buy Bitcoin en masse. Since CEX is renowned for some of the lowest fees on the market, capped at just 0.25% commission of all spot trades, the broker has been enjoying a renowned surge in popularity from those looking to buy Bitcoin.
