Are you convinced of the advantages of trading? Then it’s time to take the right steps towards becoming a trader yourself. The most important step is opening a trading account. You can open one at a bank or with a broker.
What is a broker?
A broker is a financial institution that acts as an intermediary between you and the exchange. All of your buy- and sell orders are handled by the broker. Before you can start trading, you must have an account with a broker.
The advantages of a broker
Opening an account with a broker has several advantages. Thanks to the benefits of trading technology, it has become simpler to trade and it’s easier to make money. When you start to trade on your own, you will be able to take advantage of all the benefits discussed in the following paragraphs.
Live streaming of prices
Through the online platform of Plus 500 you can see the real-time prices, unlike some websites or services that show the prices with a delay of 15 minutes. With the latest details and information at your fingertips, you can set your orders quite precisely. You won’t be late to the party!
Analysis of financial products
In addition to real-time prices, the broker also offers several tools that allow you to conduct the proper analyses. These analyses provide more information based upon which you can buy or sell your instruments. This reduces the likelihood of making a bad investment quite a bit, thereby increasing your chances of making a profitable investment.
Constantly receive the latest news
Every trader who is actively working on his portfolio reads the financial news. The financial news about a company can have an effect on the stock of that company. Brokers place the latest news on their platform so traders are constantly aware of the latest facts and rumours. This sort of information can be very useful when you want to start trading with a broker.
Brokers offer syllabi and online courses to their users. These items allow traders to enhance or refresh their financial knowledge. This knowledge helps investors make more money. On our website you can find a complete online course that will get you started a little quicker.
Picking a broker
Different elements are a factor when you are picking the right broker. Besides prices another very important thing is the broker’s reputation, customer service and available services. Always check if the broker offers the services that you find important. Moving your instruments to another broker costs a lot of money, so it’s better make the right decision the first time! Click here to compare the best brokers where you can open up a free demo account.
Opening a trading account
After you’ve made a choice, you need to register at a broker. This is very easily done through the internet. Upon registration they need your personal details. After approval your account will be set up and you will receive your login details. Once you’ve got your login details, you can deposit money into your account so you can buy stock and other financial products. After your first order, the moment has come: you’ve become a trader executing real trades!