Online Trading refers to the trading of securities online. These securities include bonds, stocks, debentures and various other kinds of securities. Brokers have also started trading securities online resulting in a significant increase in online trading in recent years.
Various online trading tools specially made for beginners to help them understand online trading properly and become an expert in online trading. Where Crypto Genius provide many practical learning courses for free with a free demo account.
Best Online Trading Tools
1. CMC Markets
According to resources, it is one of the best trading tools for beginners because there are various detailed interactive charts, educational tools and data available for beginners. Customers can get their doubts clear while using the tool regularly through email, chats and by a phone call on the helpline number provided in the tool.
People prefer to use this tool because of its user-friendly nature and the customizations available. This tool has low forex trading charges but it charges high fees for CFD trading. Also, there have been cases where it is found that the tool has contemporary mobile and web version designs.
2. XTB
This tool started its functioning in 2002 and is considered the best for customer services. The people using this tool have two types of accounts. The first type is the standard type, account holders of this type are offered market average spreads. The other type is the pro accountholders. Accountholders of this type get more commission than the standard account holders.
People need to submit £250 on the trading platforms to start trading. There are several educational videos available on this tool for beginners to get in-depth knowledge.
3. City Index
It is one of the tools that are listed on the stock exchange. It charges very low fees and provides good-quality news flow on the tool. This tool charges minimal charges for both CFD and forex trading and almost all the forex brokers use this tool because of its effectiveness in forex trading. Several research tools are available on this also. Although the tool does not charge any fee for trading, the non-trading activities are quite expensive. Various trading authorities the in UK recommend the use of this tool.
4. FXCM
This is the tool that specialises in the trading cryptocurrencies. The various features this tool has are it requires a low minimum deposit and it does not charge any trading fees, it provides good quality educational videos for beginners and regular news flow for its users.
The other features are that if you do not operate this tool for more than a year after making the account, then you will have to pay the inactivity fee and the withdrawal fees are also high. Because of these fees, it is not considered a cost-effective tool.
5. Moneta Markets
The regulation of the tool is done by FCA and it was the tool was introduced in 2009. The tool includes both CFD trading and forex trading and the users to start trading from this tool need to make a minimum deposit of £50.
Users who trade from their mobile phones can use WebTrader and AppTrader platforms from this tool. Web users can use MetaTrader 4 and 5 platforms for trading from this tool. This tool provides good algorithms for trading to the users.
6. eToro
This tool is mostly used by trade brokers in the UK and is considered the best online trading platform. It is the best tool for beginners to do online trading and gain in-depth knowledge about it. The tool provides good quality educational videos and graph trending scenarios. The Financial Conduct Authority (FCA) regulates this tool also. Along with a regular newsfeed, people on this tool can discuss trading.
7. Pepperstone
This tool also offers the dual advantage of charging zero minimum deposit and low trading fees. The main feature of this tool is that it focuses mainly on customer service as it answers the queries of people timely via calls or emails. Market analyses done by this tool are quite accurate in comparison to other tools. This tool does not have a banking license but is regulated by various regulatory bodies. Both the mobile and web platforms of this tool are not secure in comparison to other tools.
8. Vantage FX
This tool was founded in 2008 and from that time this tool has grown has significantly. It involves both CFD and forex trading and it has more than 44 forex pairs and more than 290 CFDs. It included the trading of cryptocurrencies, shares, commodities and several other securities. FCA and ASIC regulate this tool.
In this tool, the traders can have three types of accounts. First is the Standard STP, in which the minimum deposit is £200, next is the Raw ECN, which has a minimum deposit of £500. The last type of account is the Pro ECN, in this £20000 is the minimum deposit.
9. Admiral Markets
This tool was founded in 2010 and it deals with almost every type of currency trading. It is a tool that is regulated by several regulator bodies such as the FCA, JSC and EFCA. People on this tool can use MetaTrader 4 and 5 but the minimum deposit in both the platforms. To take the advantage of price stability, people open different accounts on several currency bases.
10. Degiro
This tool started with wholesaler brokers only but with its success, it became one of the largest retail broking platforms in Europe. It has its banking license and the process of trading is simple and fast. BaFin and FCA regulate this online trading platform. There is no minimum deposit requirement in this tool and there are 5 different types of accounts that the traders can open in this tool. Also, there are no inactivity fees that make the tool even more effective.
So, these are the 10 best online trading tools for beginners in the UK. These tools have their benefits and loopholes and people can use these tools according to their needs and requirements. People should have adequate knowledge about the tools so that they do not have confusion while selecting a tool for trading.