In this article we look at the best software you can use to start trading. Nowadays everyone can trade online using simple software. Thanks to online brokers you can get started within minutes. But how do you download the software and how does it work?
Downloading trade software
Downloading the software is simple! One of the benefits of the trading software is the fact that you can start by using a simulation. Within the simulator you get to experience real market conditions and trade stock, commodities and Forex. You can train yourself to become a professional trader.
Getting started with the software
After you’ve downloaded and installed the free trading software, you can get started with a fictional account balance of 40,000 pounds.
On the left side you select a list, so you can determine what you want to trade. Some people have more fun trading stocks and others would rather trade commodities or currency pairs. The goal is to make money, whatever you prefer to trade.
Once you’ve selected your financial instrument, you can determine what to do with it. There are always two options: buying (long) or selling (short). When you buy you obtain a positve result when the price goes up and when you sell you obtain a positive result when the price goes down.
Trading with real money
The beauty of this software is the fact that you can try-out trading rather easily. New members have the option to use a free demo of 40.000 pounds to buy and sell CFD stock and commodities. When you open a free demo account with the creator of the software, Plus500, you can try the possibilities. As soon as you are done practicing, it is really easy to make your first deposit and start trading with real money.
Advanced trading software
If you’re already a bit more advanced, you can also use more advanced trading software. With MetaTrader you can run complex analyses on the price, to help you predict a future price movement a lot better. If you have never traded before, it’s best to start out by using the Plus500 software. Then later, when you’re a bit more experienced, you can use the MetaTrader software.