Here are the 4 most widely used online trading platforms today
Internet usage has expanded the reach of trading, conquering the realm of technology. Here we have four online trading platforms worth looking into.
Online stock trading platforms offer great flexibility and choice to investors. They provide more utility to retail investors who are either trading casually or not willing to have a broker whom they can call every time to make the trade.
The popularity of the internet has led to the rise of online tools which now execute trades, provide investment advice and offer other comprehensive sets of services.
The advent of robo advisors is another significant achievement in the domain of online trading. Robo advisors are being used to provide remote financial advisory services without the involvement of the humans.
As such, the field of online trading and financial advisory has become high tech and sophisticated tools are now being widely used. Most users are home-based investors who do not use traditional brokerage services or too busy to read all the commentary and analyst reviews of various companies.
When choosing a trading platform, it is always important to consider the cost as well as the features offered. What distinguishes online trading platforms from the traditional platforms is the fact that online tools are readily available at a fraction of the cost.
Some online trading platforms also offer quality features. Better research quality, interactive charts, live quotes are some of the highlights, which distinguish a good online trading platform from others.
Here are four of the most widely used online trading tools and their pros and cons:
Are you a self-directed investor? If yes, E*Trade might be the tool for you. It calls itself a discount online brokerage service providing online services to self-directed investors.
Managing over 3.5 million brokerage accounts, E*Trade is considered as the leader in the market for beginners. It has a very comprehensive set of videos, which are ideal for the beginners who want to learn how to use online trading platforms.
Ameritrade is a U.S.-based trading platform offering a variety of trade options to the investors who are trading online.
Probably the most significant advantages of this platform are better services, top quality research and the choice of investments. It is because of these reasons that this trading platform is charging higher than average commission rates and is a bit expensive for a retail customer.
Its broker-related trades are relatively more expensive, however, TD Ameritrade is able to charge such high rates due to above average customer services.
FXGM South Africa
South Africa is part of the BRICS, and its stock markets are defying the recessionary impacts.
FXGM South Africa is one of the leading trading platforms of the country offering online trades of individual stocks, forex, commodities and indices. The platform requires a $200 deposit and provides various levels of memberships for high-end investors.
FXGM is offering international trade services and is authorized by South African Financial Services Board. All its trade are protected under the insurance arrangements.
Trade Station is unique in the sense that it offers algorithmic trading and is relatively for high tech investors.
Trade Station can execute orders through specially coded scripts which are not only automatic but also fast. It can complete the trade in lightning-fast speeds, thus giving the advantage of the time to the investors.
Trade Station, however, charges a hefty monthly fee if an investor is unable to meet the monthly minimum requirements. This platform is restricted in the sense that it does not offer commission-free exchange-traded funds or even no transaction fee mutual funds.
Trading platforms can be a lot beneficial due to the quality of the research they offer along with other tools, which, if used correctly, can help investors to make good returns. However, they can be expensive if minimum monthly requirements are not established, so choose wisely.
DISCLAIMER: This article expresses my own ideas and opinions. Any information I have shared are from sources that I believe to be reliable and accurate. I did not receive any financial compensation in writing this post, nor do I own any shares in any company I’ve mentioned. I encourage any reader to do their own diligent research first before making any investment decisions.
The TopRanked.io Weekly Digest: What’s Hot in Affiliate Marketing [Week 12]
Empires come in all shapes and sizes, from small upstart affiliate businesses right through to world-dominating empires like TikTok. And...
Green Technologies: Why Southeast Asia is the New Global Investment Frontier
According to a report by the United Nations Environment Program, annual green funding flows in Southeast Asia have been estimated...
Eniax Signs Cerba, Analiza, and Oftalvist as Clients and Aims for 1M in Sales in 2023
Eniax also works with some medical centers in Spain, such as the HLA Moncloa University Hospital in Madrid, from Grupo...
GreenIT and Copenhagen Infrastructure to Develop Three 2 GW Offshore Wind Farms
GreenIT was established in March 2021 and is dedicated to the development, construction, and operation of plants for the production...
Concrete Investing Launches €4.75 Million Crowdfunding Campaign
Concrete Investing has financed 24 real estate transactions to date in four years of activity, with about €46 million raised,...
Business2 weeks ago
Market Crash or Not, the Case for a Bear Market Is Improving
Africa2 days ago
Witti Finances Launches Activities in Ouagadougou
Featured1 week ago
Mass Layoffs at the Fintech Company Moonfare
Business4 days ago
UBS Bailout of Credit Suisse Leaves Markets in Doubt and Spanish Banking Sector Suffers Instability
You must be logged in to post a comment Login