Choosing the right trading account – Other things to consider
Many of the factors we have discussed hitherto should really be considered prerequisites when choosing the best online trading platform. It goes without saying that your preferred operator will give you access to the markets you will require and have all the regulatory credentials to operate in your jurisdiction. However, it’s also important to consider personal preference.
The usability, look and feel of online trading websites can differ significantly – and this can be an important feature for some traders. After all, you are likely to spend a fair amount of time on the website and trading window so finding one that feels easy to use and appealing to the eye is a definite bonus.
With this in mind, you might also want to check out the trading platforms offered. Some brokers have a single, proprietary trading platform that operates in your web browser, whilst others may offer the MetaTrader family of platforms alongside their own software, just like us here at CAPEX.
Final points – It’s essential to learn more about trading
CFD online trading is highly versatile but most traders choose to open and close positions in a relatively short space of time, looking to take advantage of the small fluctuations that occur in financial markets throughout the day.
Often, the returns they make are comparatively small, which in theory means hundreds of trades need to be made in order to make it worthwhile. However, most traders instead choose to take advantage of leverage.
Effectively, using leverage means borrowing funds to gain more market exposure and maximize returns even if there has only been slight price movement for a given asset. However, just as leverage can boost returns it can also amplify losses, so novice traders should approach with caution.
In the end, it pays to learn about trading before investing your real money. That’s why we encourage our clients to visit the CAPEX Academy and use our CFD demo account to practice, two of the benefits of joining CAPEX.
Conclusion – Researching the right broker is time well invested
Choosing the best online trading platform is an important decision and one that requires a little research. People might have different preferences in what they are looking for, but there are a few key features that you need to be aware of.
As we’ve discussed, you should always ensure a platform is completely above board and is licensed to operate in your jurisdiction. You also need to make sure that a platform allows trading in your preferred markets.
If you’re looking for a platform that allows you to trade CFDs across numerous markets, then why not try out CAPEX by taking advantage of our demo account feature? This way you’ll be able to get a feel for the markets and our trading platform before committing any actual funds.