Choosing an online trading platform is not easy as it sounds. It is a major commitment since you are parking your money and you need to be sure that it is reliable for your daily trading. Such a decision has to be made with a sound mind because any wrong decision can leave you deeply dissatisfied. Also before evaluating which platform will be the most suitable for you, you need to decide upon your trading decisions and needs. Once you have that in place, you will know what platform to choose.
Select Best Online Trading Platform
The following points need to be kept in mind while selecting an online trading platform. They are:
The need of every investor is very different; in short, all of them have unique investing patterns. To cater to the needs of all, we will need a platform which offers that sort of accessibility anywhere and everywhere. With the right app, you could perform transactions of all kinds. Hence, it becomes important to select a platform that blends into your lifestyle in a way that you do not have to take efforts and gives you the convenience and accessibility to trade online from mobile phones.
2. Information Accessibility
An online trading platform should provide you with all the information regarding trading under one roof. Most of these online securities trading providers’ gives you access to technical and fundamental information regarding securities. It gives you information regarding key financial data like price-earnings ratio, earnings per share, dividend yield, balance sheet and income statement. There should also be a facility for providing live news to give real-time updates on the things that are going on. This provides convenience to the investors since they do not have to change platforms to access information.
3. Value for Money
There are several charges that come along with a transaction. Nobody really tells you about those charges like banking fees and services charges. Such charges inflate your total transaction cost and can have an effect on your personal profit and loss calculations. For the same reason, an online trading platform should come with a live calculator which gives you clarity on the charges that you have to incur with each transaction. This gives you a real picture of additional costs thereby stating the true value of your investments.
You would want to opt for an online trading platform that offers a global connectivity and a wider reach. What if an investor chooses to trade on international markets rather than local or regional? For this, your platform needs to well equip with its connectivity to various international stock markets like New York Stock Market, NASDAQ, London Stock Exchange, Deutsche Boerse and many more.
5. Trading Tools
The one factor, that makes a good trading platform best is the kind of trading tools it offers. Amongst a few are the ones like Stop Loss which directly stops the transaction as soon the price of the stocks moves down sharply below an indicated level. Another being GTD or Good Till Date. This tool indicates your preferred validity date wherein you do not have to re-enter your details and it automatically gets updated. Some even have SMS alerts and notifications to inform any major changes regarding your stock. Apart from this, alerts are also sent in case there is any security or stock that fits into your category. Such tools can prove to be really helpful to the investor and makes investment easy and fun for them.
One such app that provides a trading experience like never before. Capital.com is an app uses artificial intelligence that helps you trade the world’s top companies, popular indices, commodities and many more. This app gives you real-time news, latest charts, and trends, receive price alerts, learn risk analysis and avoid any biases. This app gives you withdrawals within 24 hours, full segregated deposits and security of personal data. This app is available for both Android and iPhone and helps you trade across the world given its artificial intelligence which also helps you keep a track of your portfolio. One needs to learn the art of investment by investing smartly and by not losing money. Your investments will go a long way.