Choosing the right stock trading platform 

trading chart

One of the biggest challenges for beginners is finding a reliable stock trading platform to trust with their trading decisions. We recommend that you consider the following points before choosing a trading site. 

1. is the site regulated?

Before looking at the features and fee structure, you must first ensure that the trading platform is regulated. All brokers must be licensed with regulatory bodies such as the FCA and ASIC. You don't want to join a broker site that isn't regulated, regardless of how useful their features are. Otherwise you are putting your money at risk. 

2. what payment methods are available?

You need to make sure that the site allows you to transfer money via your preferred method. It would also be good to have more than one viable option. Many investors at Exness metatrader 4 look for bank card payment methods as they can deposit and withdraw money instantly. However, if you do this, you must also consider the limits of each transfer. 

3. commissions and spreads 

As mentioned earlier, you need to investigate the spreads and commissions you will be paying on the stock trading side. Ideally, aim for low commissions and tight spreads. Do plenty of research on your chosen trading site and compare the commission before you sign up. 

forex trade

4. leverage limits 

Even if you don't use leverage when you first start trading stocks, you may need this option in the future. Therefore, make sure your broker supports it from the start.

Depending on your location, the leverage the broker can offer is limited. For example, the UK and EU have a maximum leverage of 5: 1 for stocks. On the other hand, some countries have no limits at all. 

5. What resources do they offer?

Every single move in the stock trading market is calculated. You need the right research tools to arrive at each decision. If you want to do technical analysis, several trading sites also offer advanced chart reading tools.

It is equally important that you have access to fundamentals and have trading tips. Choose a stock trading site that can provide both along with real-time updates. 

6. what are the tradable markets?

Once you have already chosen the stock you want to invest in, you need to find a website that offers the specific exchange it is listed on. In addition, not every trading platform will give you access to international markets. Therefore, be sure to check this before you sign up. 

7. withdrawal periods

Many traders tend to overlook a trading site's withdrawal policy. Some sites take a long time to process withdrawals manually, while others do it automatically. Preferably, you want to work with a site that can process payments no later than 48 hours after the withdrawal request. 

8. customer support 

Last but not least, you need a broker that offers excellent customer support. This means at least 24/5 support - as this is equivalent to the hours of traditional financial markets. Nowadays, websites strive to provide support via live chat or email so that they can serve an international market.  

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