Platforms for trading on the stock exchange today are presented in a huge range. Among them are terminals adapted to the stock market, and platforms for futures trading. But what should you expect from the website not to be disappointed in your choice? In this article, we will look at the key factors of choosing a trading platform and get acquainted with the best trading platforms in 2019.
Best Online Trading Platforms 2019
According to the conducted investigations, such trading platforms are the most convenient for financial activity:
- TD Ameritrade
- Charles Schwab
- Merrill Edge
IQ Option has been on the financial market since 2013. Despite the relatively short stay in the arena of the stock exchange, the broker in 2015 became known not only in Russia but also in the CIS countries and even the EU. It is one of the best online trading platforms. The main achievement of Iq Option is that it has made options trading understandable and accessible for many traders thanks to the introduction of various innovations that are not peculiar to a binary options broker. It uses a progressive training system, provides an effective-progressive work of the support service with quick answers to all questions. It also supports a large number of trading instruments in the form of currency pairs, metals, bitcoins and futures into the underlying asset.
- A small initial deposit, which makes work in this field of activity available.
- The ability to engage in the transaction ninety-two percent of the deposit.
- The minimum expiration time is sixty seconds, and the maximum — one month.
- The ability to receive bonus funds to the trading account.
- Holding tournaments with payment in real money.
- A limited number of options, only to increase and decrease.
- Difficulties in passing verification.
- Thorough verification of all documentation when withdrawing funds, which takes some time, usually a few days.
TD Ameritrade4.6/5 in this category.
TD Ameritrade is a publicly-traded brokerage firm registered under the Ticker ARMD. In the world of trading, it has become widely known thanks to the acquisition of the popular trading platform ThinkOrSwim. The platform is one of Ameritrade’s main competitive advantages, as broker commissions are relatively high compared to other firms in the same industry.
- Probably the best and easiest to use platform for retail trading.
- Variety of services offered. Through Ameritrade, you can do almost anything.
- Round the clock customer support.
- Huge research offer.
- The high Commission in comparison with the average for the industry.
- The broker receives payment for the order flow.
- There are no advantages over other brokers in terms of borrowing shares for short positions.
Charles Schwab4.2/5 in this category.
Charles Schwab is one of the first discount brokers who began to create modern trading. It offers both thorough in-depth rates and modern platforms for conducting trading activity. In fact, it is a website with a comprehensive set of advanced tools and characteristics for skilled users. Until recently, it was only available on a desktop computer, but its web-designers have created a cloud-based version of the website, turning broker into one of the best online trading platforms.
- A great volume of research materials and tools.
- A modern platform for trading and making investments.
- Limited direct market access (better than many brokers where there is none at all).
- A wide range of investors opportunities. Plenty of securities and shares are offered, including international ones.
- Customer service has a bad reputation for failing to solve problems.
- Very active traders may need more functionality in the trading platform and will prefer Iq option for example.
E*TRADE4/5 in this category.
E-TRADE is one of the largest online brokers in the United States with a huge selection of services offered to a wide audience of traders (there are 3.4 million users). In addition to brokerage services, the broker offers a variety of banking products, pension savings management, managed and automated account planning services, Robo-advisors and financial advisors designed for the widest range of investors and traders.TRADE is one of the largest online brokers in the United States with a huge selection of services offered to a wide audience of traders (there are 3.4 million users). In addition to brokerage services, the broker offers a variety of banking products, pension savings management, managed and automated account planning services, Robo-advisors and financial advisors designed for the widest range of investors and traders.
- A wide range of platforms for stocks and options.
- The best mobile app among American brokers.
- Limitless possibilities for analysis.
- Built-in rob sonic, retirement planning and financial advice.
- Small transaction fees, which allows you to block orders.
- New accounts get the opportunity to make up to 600 free transactions.
- The Commission for the transaction becomes high when the client increases or reduces his/her positions.
- Limited choice of routing options.
Merrill Edge provides packages of free deals to customers with a fairly serious relationship with the company, including bank accounts held by Bank of America. The broker’s own research is first class. In addition, there is an extensive network of advisors, as well as two comprehensive trading platforms and well-designed mobile apps.
- Tools for comprehensive account research.
- Well thought out the educational offer.
- Mediator research opportunities designed for clients using fundamental analysis.
- Spreads on options are limited to two stages.
- Costs are above average if the customer does not pay for Premium status.
- Constantly pushing to invest with an Advisor can be annoying.
How Can I Learn how to conduct trading activity?
Our website gives new clients a piece of comprehensive information about trading activity. Even people who don’t have any professional experience in this field can analyze further given articles and learn something new about buying and selling stocks in the forex market. One such guide article about best trading platforms is given below as an example:
Basic terms of trading activity
Sometimes it is very difficult to sort out in the trading field without knowledge of basic notions, especially when you need to conduct a transaction for real money. This list of main terms will help you to learn more about the stock market and feel more comfortable, navigating the best online trading platforms 2019:
- Currency pair — the ratio of two currencies, which shows how many monetary units of one currency is a unit of another currency.
- Bid — the amount of money that the buyer is ready to pay for the share.
- An order is an application created by the client for the exchange to carry out an operation to buy and sell cryptocurrency on certain conditions.
- Ask — the amount of money at which the buyer is ready to sell the share.
- A trend is a unidirectional price movement that lasts for a certain period of time. In other words, it is clearly visible in the chart area of growth or fall of the price. The trends can be ascending (bullish), descending (bearish) and lateral (flat, “sideways”).
- Draining is a very sharp drop in the rate (the moment when panic-prone users sell off assets bought on hay; experienced investors at this time “substitute buckets”, placing limit orders to buy).
What do you need to analyze while choosing an online broker
Some experienced traders compare choosing a platform to buy a car, and there are indeed similarities in this comparison. If the car is a means of comfortable movement around the city, then the trading platform is a means of moving around the market, which gives the trader access to it. Accordingly, the choice should not be approached lightly. But what to pay attention to:
- Convenience — even a beginner knows that trading is not easy in itself. This activity requires concentration and constant study of graphs. All this takes a lot of time and effort, and if the trader has to be distracted by the adjustment of the terminal, it will not add efficiency to him/her. Therefore, the trading terminal should be convenient – it is important that all the necessary charts and basic tools are always in front of the eyes, and you can configure the system for yourself as much as possible.
- Functional — there are not many functions, so the more various technical indicators, tables, charts and graphs the platform supports, the more chances a trader has to turn it into a truly useful tool. Functions that allow you to set stop loss, take profit, and other orders, including limit, market, address and pending, are extremely important. In general, the essence is clear – the more the terminal has “bells and whistles”, the more opportunities a trader has to adjust it to his/her trading system.
- Access — no matter how functional the platform is, if it has only two trading instruments and access to one exchange – you will not earn much. Therefore, it is important that the platform has access to various exchanges and provides a large range of traded assets.
Our website gives only unbiased and fair reviews in the sphere of trading activity. Today we have chosen the best online trading platforms 2020. These results were got after the thorough and long-lasted analysis of the forex market and modern trading trends. It is based on such aspects as need of experience in the field of investments, available products and instruments, fees and costs for stocks, presence of mobile apps, quality of customer support. Only after all these actions a complicated methodology of estimation was developed.