Are you still in doubt about where to invest online? Choosing an online trading platform can be a daunting task. Since the advent of the cheap Internet, online trading is on the rise. As investors, we are always looking for the best trading platforms to know where we can put our money. There are a multitude of factors that you have to consider before you start trading.
Brokerage Compare will do the heavy-duty work for budding investors. Our platform provides investors with a rank-wise listing of online traders. Thus, saving you enough time and money.
Before you start selecting trading platforms, you should look for some key aspects. So, what should be the prime features of the best online trading platforms?
-
Fees/Charges
Every broker on every trading platform charges a certain amount to the investors for managing the transactions. This ‘broker fee’ might vary significantly depending on the type of trading platform. Some trading platforms with lesser features often charge less and vice-versa. As an investor, you should get the best deal. Opt for a trading platform that provides better services at a lower rate.
Some brokers charge an annual fee, inactivity fee, transfer fee, or a subscription fee. You want to get as much return as possible after deducting trading and accounting plus500 fees. Beginners have to do extensive research because this technical jargon might seem confusing.
-
Account Minimums
Many online trading platforms require a minimum sum of money in equity. Investors should compare this factor across multiple trading platforms before investing. Usually, the bar is low on most platforms. A trader’s interest is to retain investors for the long haul so that they get regular commissions.
There are such trading platforms that do not charge investors any fee to start trading. This option might seem lucrative. However, investors should educate themselves regarding how these platforms are getting the cash inflow and how it might impact the investor himself.
-
Security
Security is the single, most important factor that keeps people from investing online. When you start investing online, you would want your money in a safe place. Investors should make sure that the platforms they are using are well-reputed. It would provide a level of reassurance that your money is in safe hands.
-
Educating Investors
This aspect is crucial for beginners. Newbie investors are not well acquainted with every trading terminology. The best online trading platform like plus500 would be the one that offers answers to every search query of yours regarding trading. It can be any query- interpreting graphical representations or knowing about public float or IPO.
If you are starting on a particular platform, harness the advantage of the search feature. Shoot your queries, and if you get a good hang of all the information, then it’s the right platform for you.
-
Customer Service
Customer service is an essential part of any service provider. As a beginner, you might get overwhelmed by the number of things that you have to deal with in real-time while trading. Make sure that the support team is accessible and provide quick solutions. This feature might not affect your trading decisions but is equally valuable once you have shortlisted three to four trading platforms.
Conclusion
If you are new to online investing, hop on Brokerage Compare to get the best trading platforms. Investors do not have to get the test drives on multiple platforms. Thus, saving a massive chunk of time. Brokerage Compare provides all such details and employs several criteria to rank these platforms to make it easier for users to start investing right away.
