Questions

What's a good trading platform for beginners?

Specifically, what needs to be considered around parameters/features for choosing the right platform for beginners.

4answers

It depends on the markets you are trading. One well rounded platform is MultiCharts. It is capable of being used in multiple markets, and it is useful to all levels of trading experience. Here is a link with more information - http://www.forex-trading-unlocked.com/MultiCharts.html


Answered 8 years ago

It depends which country you are from. It is best to not go to a deep discount brokers just because their commissions are the lowest.

For example, in US/Canada commissions for interactive brokers are the cheapest but that does not mean that you should actually use interactive brokers. It is just not meant for beginning traders.

In US/Canada commissions will range from 0.99$ per trader to $19.95 per trade.

If you choose some broker with around $5 commission per trade then their platform will be more user friendly then the ones with deep discount brokers.

Cheers,
RJ


Answered 7 years ago

I'd recommend Think or Swim or TastyWorks

You can also learn how to trade options by visiting https://BestStockStrategy.com

Learn how I earned $755,000 in 2017 with a 95%+ win rate


Answered 3 years ago

Brokers were selected based on top-notch educational resources, easy navigation, clear commission and pricing structures, portfolio construction tools, and a high level of customer service. Some brokers also offered low minimum account balances, and demo accounts to practice.
If you ask me, I felt that these three brokers are the best to operate with. So, let us have a look at them one by one:
1. TD Ameritrade:
Pros
1. The education offerings are well designed to guide new investors through basic investing concepts and on to more advanced strategies as they grow.
2. TD Ameritrade offers in-person education at more than 280 offices as well as multiple training pathways available on its website and mobile apps.
3. The TD Ameritrade Network offers nine hours of live programming in addition to on-demand content.
4. The well-designed mobile apps are intended to give customers a simple one-page experience that will sit well with a younger, mobile-first crowd.
Cons
1. Some investors may have to use multiple platforms to utilize preferred tools. This is most likely to affect experienced investors using a mixture of fundamental and technical analysis in their trading.
2. TD Ameritrade offers many account types, so new investors may be unsure of which to choose when getting started. There should be more help available to make sure customers start out with the correct account type.
3. Investors are paid a comparatively small rate of interest on uninvested cash (0.01-0.05%) unless they take action to move cash into money market funds.

2. E*TRADE:
Pros
1. E*TRADE’s mobile apps are extremely well laid-out and easy to use and are among the most comprehensive and extensive apps tested. There are two mobile apps available: regular E*TRADE and E*TRADE Pro. The latter is focused on derivatives – options and futures.
2. E*TRADE paper trading capabilities are used extensively to test strategies. The paper trading site uses delayed data so you won’t think you’re placing real trades.
3. For those with a chunk of change that they want to invest quickly, E*TRADE’s Prebuilt Portfolios offer a fast track to the markets. You can choose from three different risk levels (conservative, moderate, aggressive) made up of ETFs ($2,500 minimum) or mutual funds ($500 minimum). There are no fees beyond fund management costs.
Cons
1. E*TRADE is hanging on to its tiered commission schedule for options trades, charging $0.65 per contract for less frequent traders and $0.50 for those who place more than 30 options trades per quarter.

2. Investors who would like direct access to international markets or to trade foreign currencies should look elsewhere.
3. Though you can see all your E*TRADE accounts when you log in, you cannot consolidate your externally held finances to form a complete picture of your net worth on E*TRADE.

3. Merrill Edge:
Pros
1. Merrill Edge’s portfolio analysis tools let clients take a deep dive into how their assets are working for them. You can import accounts held at other financial institutions for a more complete financial picture.
2. Merrill Edge offers top-notch proprietary and third-party research capabilities geared for fundamental investors.
3. Clients with more than $100,000 in qualifying assets combined with Bank of America and Merrill Edge qualify for additional benefits that can save or make you money.
Cons
1. Merrill Edge’s per-contract options fees and margin interest rates are on the high side.
2. Options spreads traded online are limited to two legs. You can trade more complex spreads by phoning the order into a live broker.
3. You cannot trade futures, futures options, or cryptocurrencies with Merrill Edge. Some investors may outgrow the firm’s offerings as they develop an interest in more complex derivative trading.
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath


Answered 5 months ago

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