Finding the right online trading center is not always an easy task. There are numerous online trading companies battling over traders’ attention, and each claims to have the best trading platform and tools.
How can a beginner trader make the right choice? Read through this short article and get all the information you need to recognize a great trading site when you see it.
Keep in mind that the first thing you need to check regarding any trading portal is reliability. Don’t waste your time on any inexperienced company, or you will be placing yourself at risk.
If the market maker you’ve selected is well-known, make sure that it offers you the features you need to trade with ease. What are these features? Here are the ones you really can’t do without.
- Advanced Trading Platforms – You cannot trade without a top-notch, user-friendly trading platform, and ideally, the site will have more than one. A professional website should allow its customers to trade with ease on both PC and mobile, and the platforms should be customized to provide each trade with optimal trading experience.
- Real-time Updates – Some brokers call it notifications, other SMS messages, but the bottom line should be information that is readily available for customers around the clock. In the online trading world, things change quickly, and investors should be kept informed and aware of profitable opportunities in real-time.
- Great Trading Conditions – Each trading center works a bit differently, but it must offer customers the tools they need to trade. Make sure that the center you use has options such as Stop Loss and Take Profit which will help you manage your account and prefer sites that offer tight fixed spreads and full margin usage.
- Service and Support – Even if you have lots of experience trading online, you need to be able to contact customer service with no hassle and get instant assistance when you need it. Look for centers that have online help that can assist in solving problems on the spot and make sure that you have a personal and trained account manager.
- Education – If you are new to the world of trading and know little about commodities, currencies, shares, and indices, you need to first learn how to trade. The leading sites will provide a complete education package that usually includes tutorials and guides. They will help you understand the system and the investment center and give you the basic knowledge you need to open and close deals.
- Training – Some traders believe that once they’ve used one platform, they know them all, but the truth is that training, even basic one, will help you improve your control in the various tools and will help you understand where things are located. A demo account is a great way to improve your skills without risking real money and if the site also offers personal training, grab it with both hands.
These features and options will help you determine if a specific trading portal is worth your time. There are a lot of alternatives and many service providers, so there is really no reason for you to settle for anything but the best.
I want to know Foreign currency trading is legal in India like USD/GBP , CAD/USD ,USD/JPY etc
Please reply with RBI CIRCULAR / NOTIFICATION etc