Getting started in online trading is easier than you think.
In this article we have decided to gather the testimonies of traders about online trading so that after reading this article, you will have a much clearer idea about it.
Getting into online trading, when you are a beginner, may often be difficult.
One of the main reasons is because you have too high expectations of yourself and not really realistic.
If your goal is to emerge in Forex Trading and CFD Trading in a few weeks, you may be disappointed very soon.
This is because many users make a rather simple mistake, having a superficial preparation.
Learning the basic concepts in online trading will be crucial.
We in this article today want to show you how to take the first steps to make yours a successful trading path, all thanks to the testimonials of experienced traders.
Surely the initial step is to sign up with a regulated trading broker who will provide you with a free demo and a training section that is as comprehensive as possible.
The brokers we will be listing shortly will provide you with free demos and training, all this will help you learn and avoid risking your real money.
As you will understand, the first step in online trading is to open a demo trading account.
To start investing your money in stocks, stocks, cryptocurrencies, commodities, stock indices and currencies, you need to open an online trading account and make a deposit.
To do so, you will have more distinct opportunities among them:
- The physical bank;
- Home banking;
- The trading broker.
We can tell you with certainty that online trading brokers are cheap compared to other solutions.
When you use a broker for your investments no commission is charged and this is very positive.
While when you use the bank as an intermediary, with the fact that it handles all trades even on a technical level, there are commissions.
Until a few years ago, orders to buy certain shares were also made by telephone to the bank.
Now, however, it is inconceivable and you have to either go to the bank or use the Unicredit home banking app, for example, downloadable from the App Store or Play Store on your smartphone.
When you decide to leave the bank commissions aside and opt for an online trading account, everything is much faster and easier.
If you decide to trade online, know that you will only need two basic tools, internet access and a smartphone, tablet or PC.
Which Products Should Be Traded In Trading?
Before opening a demo account with a broker, you should understand what you think are the best assets to trade.
Most brokers specialize in certain financial products, there are securities for example that not all brokers could offer, so either securities with a rather high cost to access is more difficult.
Any person who chooses to make financial transactions on a varied and multiple number of assets, should rely on a broker that is active nationally and at least in Europe.
For example, if you choose to engage in short selling with specific securities, you should make sure that they are valid and not void in your country.
Often the securities are lent by the broker, so it may also happen that the amount of securities you are requesting at a particular time are not available.
What Are The Commissions From Banks And Brokers?
Usually all the banks in the branches that we know of deposit an annual fee for the management of their deposit.
Online brokers usually do not do this, which is why many prefer to rely on a Trading Broker.
Just remember though… never say never!
It is always good to pay attention to possible additional costs that may arise.
For example, if you want to transfer your money abroad, the broker, depending on the volume of your order, may charge you a commission.
Testimonials From Experienced Traders: The Online Trading Demo Account
Most traders’ testimonials report that using a demo trading account is the best way to approach online trading.
This option is really good and is definitely used by many traders in online trading to test new online trading strategies and start trading without risk.
Most trading brokers provide a virtual credit (usually a virtual 100,000€) on the demo account to practice and trade it under real conditions.