One of the ways to trade stocks is to do so via a broker that supports your preferred stocks. You would need to create an account on the platform to get started. As you do so, you need to understand that each trading platform is unique with its own pros and cons.
Before you can execute any stock trading operations, you need to start off by working with a reputable and genuine platform.
During your selection of a stock trading platform, you need to put in mind some key factors like performance stability, user-friendly interface, and security. Furthermore, in order to ensure you generate meaningful profits, you have to work with a broker that charges the least fees.
The protection of your funds throughout the trading process is mandatory. Thus, the trading platform that you work with ought to be regulated. Also, their ability to offer a wide range of stocks to choose from cannot be ignored.
Officially entering into operation in 2007, eToro is known for the wide range of assets that it supports.
With this platform, you get the opportunity to trade in a number of stocks like Google, Facebook, and Apple. You can also use it to trade indices GER30, NSDQ100, SPX500, DJ30, among others.
Investors have the opportunity to save more in that the platform charges 0% in commissions. There is also leverage of up to 5 times your investment when buying physical stock. Professional traders can increase this leverage to 20 times.
Beginners have an easy time getting started thanks to the simplified user-friendly interface. You will easily navigate through this platform without having the need to seek support. However, in the event that you need help, you can always reach customer care – they are readily available.
As you select your preferred stock trading platform such as eToro, you will not that the sign-in process is also an easy one. Get through these four simple steps and you shall have your account ready for trading:
Here is how you can place trades on eToro:
You can follow the below criteria to choose the best stock trading platform that meets your requirements:
Set aside the time to speak to your broker, and go through reviews before choosing a platform that suits your needs.
Deciding on a platform with a user-friendly interface is easy. When you look at it for the first time, you will already like it. If you do not feel so, then you should have other options in mind.
At this moment, do not complicate your trading experience. Try and avoid sophisticated features for easy starting out.
Test the numerous functions that you will be using on a daily basis to gauge the level of difficulty. The simpler the platform, the better it is for beginners.
When that happens, you want to make sure that you can quickly contact support for a swift resolution. Look at the availability of support and channels to reach them – email or phone call.
As you gear up to choose a trading platform, there are some things about the platform you can consider to ensure swift trading experience.
Avoid the following mistakes when choosing a stock trading platform:
Taking part in stock trading provides you with the opportunity to grow your investment. Even though stock prices rise and fall, the value of the stocks normally grows over time. Depending on the type of trading strategy you are using, you are likely to get more profits over time.
Stock trading provides you with the opportunity to develop several ways to earn money. A brilliant stock trader knows better not to put all their eggs in one basket.
Given that stock markets change rapidly, investing in several assets and implementing varied trading strategy means you have a chance to make money in various scenarios.
Stock trading platforms provide their members with predetermined leverage. For instance, eToro allows beginners leverage of up to 5x their capital while professional clients get 10x to 20x. The leverage ensures margin trading, meaning you get the chance to increase your gains in folds.
Most stock trading platforms like eToro charge 0% commissions, meaning your fees are reduced. Doing so implies that you have the opportunity to make more money.
Stock trading can be executed by following a wide range of strategies like Day Trading, Position Trading, and Swing Trading. Once you’ve mastered these strategies, you can always take advantage of them in different scenarios to make a major kill.
Even though stock trading has a wide range of benefits, there are also disadvantages associated with it.
Demerits of stock trading include:
As profitable as it might be, investing in stocks is not an easy walk in the park. Thus, you need to implement some quick tips that can see you earn more and even establish your name in the industry.
Follow these three basic tips to make the most of stock trading:
Stock trading is an exciting venture. When done correctly through playing by the rules, you can be assured of significant earnings. Whichever approach you take to trade, you must choose to work with a platform that meets your requirements.
Disclaimer: Please note that the articles, news, reviews and all the content of this website should not be considered as a trading advice. The nature of investing is speculative and there is a risk to lose the invested capital completely. When investing seek a professional advice and make your own due dilligence. This site is not intended for use in countries where trading and investing is prohibited. This website is free for you to use but we may receive remuneration from the companies we feature on this site.