How does online trading work? - The insight

trading terminal

 The software may vary depending on the provider. Another well-known trading platform is, for example, Exness mt4. I find the bottom trading platform very user-friendly for beginners. With it you get an access to over 3,000 different markets.

In the following texts I will give you a step by step guide for trading: First, select your desired asset and open the chart. The chart can be displayed in many different ways. Now invest any amount in rising or falling prices. Very simple, isn't it?

Which online broker to choose? - Honest comparison and test of providers

Choosing an online broker is not always easy. There is a very wide range of offers. Most of the time, the most eye-catching advertisement is not always the best offer.

The security of the customer's money is the top priority. Beginners often fall for dubious providers. Before opening an account, a broker should definitely be checked. In the following table you will find my top 3 brokers for private traders! In my online broker comparison you will find more.

Criteria for a reputable broker: 

  •     Regulated and licensed by an official financial regulator.
  •     Free demo account with virtual credit for practice
  •     Instructions and help with the operation of the trading platform
  •     Direct contact (support 24/5 by phone, mail, chat) - preferably a branch in Germany
  •     Fast and direct execution of trades

Account opening

Opening an account with an online broker is nowadays no longer a difficulty. Most providers even guide you through the process step by step. Open their free account directly with an email address, password and name. Some online brokers also require the phone number during registration.

trading app

Verification

To actually invest in the financial markets as well, you need to fully set up the account and verify your identity. I recommend you only regulated online brokers on this website. These adhere to the strict rules of the regulatory authority. This includes verifying the identity of the client.

The process can be completed in a matter of minutes to hours. To do so, answer the questions and upload the required documents:

  •     Provide the necessary information about yourself.
  •     Upload a proof of identity (driver's license, passport, ID card)
  •     Upload a proof of address (bank statement, consumer bill, other documents)

Trade online without risk with a demo account:

For beginners and on advanced traders there is the offer to test the trade or the trading software in a free demo account. This is an account with virtual credit. Trading with real money is simulated. There is no risk of losing real money and there are no costs for the trader.

The demo account is best suited for beginners to try trading or for advanced traders to test new strategies or markets. Once you have understood the trade and also recorded the first profits in the demo account, the switch to real money trading is easier and safer.

 

 

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