Most newcomers to online financial trading will look at opening a discount stock trading account. There are thousands to choose from, so where should you start?
The best place to start is the online forums. If you type "stock trading forums" into your favorite search engine you should find plenty of comment about various online stock brokers. You can contact forum contributors and ask them directly for their opinion about two or three brokers if you need a professional viewpoint. Or you can simply type the name of the broker you are investigating into your search engine box and see if you can find any reviews or comments on them.
If online financial trading is new to you then probably the most important thing is not so much the fees (important though that aspect is) as the ease of use of the online interface on the broker's web site. Look for clarity and the ability to navigate with the minimum number of clicks. Also, the quality of help available if needed, and the speed with which it can be obtained, can be vital.
You'll probably quickly find a site that you feel comfortable with, and it's then just a matter of checking that the broker operating it is trustworthy and reliable. One factor to take into account is how long it has been trading. It's generally safer to place your hard-earned money with a firm that has been around longer than just a few months or years.
Stock brokers have to be regulated, although the exact terms of regulation vary from one country to another, but, all the same, check on who the regulating authority is. Check on the profile and see if you can find out anything about the board of directors or the chief executive, as the case may be - the people behind the name.
Most online brokers operate "demo" accounts so you can practice your system without risking real money until you feel confident enough. These accounts should be free to run, and should be available for an unlimited time. You should be able to have as many demo accounts as you wish. If you're going to engage in discount futures trading then this is vital.
You may be offered a training course or video DVD, but be careful about buying anything like that from your broker. Remember that they are out to make money and very often they make it by playing bookmaker and being on the opposite side of the trade to you, so is it really in their interests to have a clientele thoroughly clued up on all the hottest techniques? Avoid any brokers that are too aggressive in their marketing of training to their clients.
When you have signed up with a broker you should be allocated an account manager. He should telephone you within the first few days to ask if he can help you get started and to establish if you are a new trader or a seasoned pro. It makes a lot of difference if you get on well with your account manager, as if you are in a fix or have an urgent enquiry he is the man (or woman) who can help put you right.
Finally, if you are in any way dissatisfied with your broker, don't be afraid to terminate your account and withdraw your money at the earliest possible opportunity. Obviously you may have to wait for any existing trades to finish, but find an alternative broker quickly so that you don't lose any trading opportunities.
The best place to start is the online forums. If you type "stock trading forums" into your favorite search engine you should find plenty of comment about various online stock brokers. You can contact forum contributors and ask them directly for their opinion about two or three brokers if you need a professional viewpoint. Or you can simply type the name of the broker you are investigating into your search engine box and see if you can find any reviews or comments on them.
If online financial trading is new to you then probably the most important thing is not so much the fees (important though that aspect is) as the ease of use of the online interface on the broker's web site. Look for clarity and the ability to navigate with the minimum number of clicks. Also, the quality of help available if needed, and the speed with which it can be obtained, can be vital.
You'll probably quickly find a site that you feel comfortable with, and it's then just a matter of checking that the broker operating it is trustworthy and reliable. One factor to take into account is how long it has been trading. It's generally safer to place your hard-earned money with a firm that has been around longer than just a few months or years.
Stock brokers have to be regulated, although the exact terms of regulation vary from one country to another, but, all the same, check on who the regulating authority is. Check on the profile and see if you can find out anything about the board of directors or the chief executive, as the case may be - the people behind the name.
Most online brokers operate "demo" accounts so you can practice your system without risking real money until you feel confident enough. These accounts should be free to run, and should be available for an unlimited time. You should be able to have as many demo accounts as you wish. If you're going to engage in discount futures trading then this is vital.
You may be offered a training course or video DVD, but be careful about buying anything like that from your broker. Remember that they are out to make money and very often they make it by playing bookmaker and being on the opposite side of the trade to you, so is it really in their interests to have a clientele thoroughly clued up on all the hottest techniques? Avoid any brokers that are too aggressive in their marketing of training to their clients.
When you have signed up with a broker you should be allocated an account manager. He should telephone you within the first few days to ask if he can help you get started and to establish if you are a new trader or a seasoned pro. It makes a lot of difference if you get on well with your account manager, as if you are in a fix or have an urgent enquiry he is the man (or woman) who can help put you right.
Finally, if you are in any way dissatisfied with your broker, don't be afraid to terminate your account and withdraw your money at the earliest possible opportunity. Obviously you may have to wait for any existing trades to finish, but find an alternative broker quickly so that you don't lose any trading opportunities.
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