Online trading provides potential investors with an order of magnitude more opportunities and pleasures than traditional investing through a broker. And it is not just a feeling of one’s own omnipotence when pressing the button directly, seeing the market in real-time and the ability to conduct dozens of transactions a day, instead of snail speed and phone calls to a broker. A tangible benefit of trading online is the relatively low commissions and absolute transparency of the income received. After all, the user is responsible for each transaction. And the time of fierce competition gives newcomers to investing a lot of opportunities that it would be a sin not to take advantage of.
Do Not Rush to Choose an Online Broker Company
Experts recommend starting your investment via the Internet not with choosing an online broker, but with familiarisation with the system, as deeply as possible. Fortunately, the opportunities during the formation of Internet trading are such that it is quite possible to master all the basic and deeper wisdom without making a final choice in favour of a particular company, and without even conducting transactions and without losing money.
11 Useful Websites for Online Trading
One of the easiest ways to learn more about online trading is to collect information on special sites. These websites contain a wealth of technical and fundamental Forex knowledge with the latest news. You will also find there Forex trading tips, best broker lists and even more.
1. FXstreet
FXStreet, where Forex never stops, as their website says, does not disappoint. It is a host of unbiased and up-to-date Forex and market-related news. Other features of the site:
- rate and charts;
- analysis;
- economic calendar;
- cryptocurrency;
- video;
- education;
- signals.
2. StockBeep
It shows stocks that have large buy/sell volumes. You will be able to sort by capitalization and look at the stocks at the top, then go to the terminal and make a decision to enter long or short for the stock.
3. FX Empire
It is a financial news portal containing the latest market news and analysis, streaming quotes and charts, technical data and financial instruments. This site will be a great addition to any trader’s toolbox. Its features include:
- cryptocurrency;
- education;
- brokers;
- instruments;
- forecasts.
4. ETFdb
Here you can find out detailed information about any ETF and which companies are included in it. Why use it? You will be able to track the percentage of change in popular ETFs. For example, you see that the banks — KBE — have increased a lot. You open this ETF on the site and see what stocks are included in it. Next, you analyse each stock separately and enter the stock that suits your strategy.
5. ForexFactory
It has an excellent economic news calendar which is the best on the Internet. One unique feature of the site is real-time trade streams where you can see how other traders are trading in real-time. Other features of the site:
- Forex forum;
- live bidding;
- news;
- market section.
6. TDameritrade
On this site, a trader can find changes in financial indicators by years and quarters, which makes it easier to search and gives access to several periods at once. The site provides data in the form of columns and cells. The main advantage of this resource is its versatility and ease of finding the required stock data.
7. Forex Crunch
The site contains news, opinions, technical analysis, guides, Forex market fundamentals, software announcements for online trading and information about the whole industry. Some additional features of the site include:
- FX tools;
- news;
- weekly forecast;
- live calendar.
8. Forextime
This broker guarantees you clarity, simplicity, transparency and provides you with training services and choices. These website hosts:
- wide range of tools;
- Forex news and analytics by country, including South Africa;
- market analysis with trading signals.
9. Forexlive
It is a trader’s paradise. This site is inherently a news site based on the very latest Forex news. They provide real-time news and analysis at the highest level, making it accessible to less experienced traders. The site has sections, including:
- cryptocurrency;
- technical analysis;
- economic calendar;
- live charts;
- education.
10. Shortvolume
The necessary resource for determining the number of longists and shortists, shows their total number over a particular period. The site is updated daily, and the presented data is as objective as possible.
11. Street Insider
When trading reports, you need to know in advance when and which companies will release their financial indicators. The site allows you to select a day and see which companies are reporting on that day.
A Word of Caution
Although the income that you can obtain from online trading is comparable to the profit of a business — that is, 50-60% per annum, remember that playing on the stock exchange requires not only money but also time and talent. The market is still too underdeveloped to count on the inviolability of its work. Moreover, the stock market is generally an unpredictable phenomenon. Just as no one could predict its fall, no one can predict the moment of its rise. Nobody will give you accurate information about what will happen tomorrow. However, to be a successful trader, you may not know how much the stock will cost tomorrow. The main thing, as the masters of investment say, limit your losses, let your profits flow and not take too many risks.
We would advise you to start looking for your broker among the many companies on the market not by comparing tariffs, but by studying the services that the organization provides. Even if your broker provides excellent free advice on your first request, to make decent money you need to learn how to trade yourself. It is faster and easier to do this not on your own mistakes, but due to special courses and training. Brokers often conduct seminars for private investors. Find out what training programs your chosen company has — paid courses, free seminars, video tutorials, webinars, and more.
If you have time, it will not be superfluous to go to free studies from several brokers to take a closer look and talk with experts. This also will help you shape your image of the company.