Did you know that over 3 TRILLION dollars is wagered on the stock markets everyday. The upsurge in online trading has dramatically increased this figure over the past few years. Many trading platforms are now available online so trading in stocks and shares is no longer reserved for the select few. Many of these platforms now offer practice accounts so people can perfect their trading skills before risking any of their hard earned cash.
So whats all the fuss about? Well the great thing with online trading is that your account provider will give you leverage on your investment meaning that you can trade with a lot more than you actually invest. For example a £50 investment with a 20-1 leverage means that you can trade £1000 worth of stocks or shares whilst only risking a £50 stake. As with any investment there is a risk of loss but there are also some tremendous opportunities for massive gains.
Choosing the correct platform for trading is an absolute must as the amount of leverage provided will dramatically affect the rate of profit or loss on any given trade. Some trading platform providers such as Plus500 will give you a free nominal amount to open your account and start trading with real money immediately without making any deposit. A highly recommended platform provider should provide up to the minute statistics and instant ability to stop or start a trade.
When starting out as a new trader you should keep leverage small and build the figure as you gain in experience and confidence. Keeping a close eye on financial events and world news is also extremely important when judging which way a market will move next. Another good idea is to befriend experienced traders for advise although do not rely solely on information provided by others, nothing beats your own intuition. There are also many sites that supply training for beginners such as baby pips where they have a school that takes you through the basics module by module. The school makes learning trading fun with its quirky style and a twist of humour. Whether its trading gold, oil or currency that takes your fancy there is a trading platform to suit your needs. Most platforms offer the option to trade a variety of stocks, shares and currency pairs and just require you to download the appropriate software and fill out a simple registration form.
Get a free £20 to trade without making a deposit at Plus500 when you open an account today.
