Which trading platform do you use?
Discussion
Been playing around with a few demo accounts recently and wondered which trading platform do you find easiest to use?
Currently using 'Trading 212', its visually friendly and easy to use.......also 'IG demo' but find this one not as effective on noticing the changing real-time trend for quick sales.
I guess there are others that offer other benefits?
New to trading, only had the demo accounts going for 3 weeks but in that time (although its not real dosh), the balance is showing around £650 'profit'.
Different story it would be, most likely', if it were real money. At the moment I'm just taking a number of un-educated risks.
But, if I am consistently turning a positive return then I may set up a £5k account with some real spends to play with.
Currently using 'Trading 212', its visually friendly and easy to use.......also 'IG demo' but find this one not as effective on noticing the changing real-time trend for quick sales.
I guess there are others that offer other benefits?
New to trading, only had the demo accounts going for 3 weeks but in that time (although its not real dosh), the balance is showing around £650 'profit'.
Different story it would be, most likely', if it were real money. At the moment I'm just taking a number of un-educated risks.
But, if I am consistently turning a positive return then I may set up a £5k account with some real spends to play with.
Not answering your question - but after this initial period do you feel you understand how you have been making the money? i.e. is it due to your research, insight and understanding or is it pure luck? Be honest with yourself, because if it's pure luck you know in your heart that it could just as easily turn round and bite you.
For instance, you might check how the various market indexes have moved during the period you have been trading.
As with all these things, if it was easy everybody would be doing it!
Good luck. Claudia
For instance, you might check how the various market indexes have moved during the period you have been trading.
As with all these things, if it was easy everybody would be doing it!
Good luck. Claudia
Firstly, bear in mind that the FTSE 100 has risen circa 300 points In the last month.
How much did you "invest" to get the £650 profit? Does that figure include all the charges that you'd have to pay if you were trading with real shares?
IWEB (owned by Lloyds) is apparently good for smaller investors.
How much did you "invest" to get the £650 profit? Does that figure include all the charges that you'd have to pay if you were trading with real shares?
IWEB (owned by Lloyds) is apparently good for smaller investors.
AA999 said:
Been playing around with a few demo accounts recently and wondered which trading platform do you find easiest to use?
Currently using 'Trading 212', its visually friendly and easy to use.......also 'IG demo' but find this one not as effective on noticing the changing real-time trend for quick sales.
I guess there are others that offer other benefits?
New to trading, only had the demo accounts going for 3 weeks but in that time (although its not real dosh), the balance is showing around £650 'profit'.
Different story it would be, most likely', if it were real money. At the moment I'm just taking a number of un-educated risks.
But, if I am consistently turning a positive return then I may set up a £5k account with some real spends to play with.
Just out of interest why would you ever even contemplate opening a Bulgarian trading account?Currently using 'Trading 212', its visually friendly and easy to use.......also 'IG demo' but find this one not as effective on noticing the changing real-time trend for quick sales.
I guess there are others that offer other benefits?
New to trading, only had the demo accounts going for 3 weeks but in that time (although its not real dosh), the balance is showing around £650 'profit'.
Different story it would be, most likely', if it were real money. At the moment I'm just taking a number of un-educated risks.
But, if I am consistently turning a positive return then I may set up a £5k account with some real spends to play with.
Inkyfingers said:
Firstly, bear in mind that the FTSE 100 has risen circa 300 points In the last month.
How much did you "invest" to get the £650 profit? Does that figure include all the charges that you'd have to pay if you were trading with real shares?
IWEB (owned by Lloyds) is apparently good for smaller investors.
The 'investment' was around £3000, I bought a load of oil as the market turned and made a nice sum. Also Sugar, Wheat, Coffee and Aluminium seem to be up/down on the short time scales, I placed bets on those with smaller amounts and seemed to turn it in to positive returns.How much did you "invest" to get the £650 profit? Does that figure include all the charges that you'd have to pay if you were trading with real shares?
IWEB (owned by Lloyds) is apparently good for smaller investors.
I agree that I am making 'uneducated' guesses at the moment, and probably wouldn't be placing bets with such high amounts of money if it were real.
But I do plan to keep going with the practice accounts for a good number of months before making a decision on using real cash.
AA999 said:
DonkeyApple said:
Just out of interest why would you ever even contemplate opening a Bulgarian trading account?
You've lost me there matey.Trading 212 is regulated in Bulgaria.
I think your idea of carrying on the practice trading for a bit longer is a very good idea. Also, if you're not already, then you're going to want to start doing some research, read a couple of books, the FT, The Economist, get to understand how things really work and be aware of the type of events that will impact various parts of the market. Think about diversification, long term or short term strategies, risk etc.
Edited by anonymous-user on Tuesday 17th February 09:24
AA999 said:
But, if I am consistently turning a positive return then I may set up a £5k account with some real spends to play with.
If you consistently turn a positive return then you are having a lucky streak in your gambling.If you want to spend £5k on an investing hobby such as the gambling you have been doing then by all means set up an account (although something UK regulated would be a start).
However, be prepared to lose all of it and at the risk of repeating myself, be honest with yourself and recognise that you are gambling. Not saving, not investing.
You may as well head to Vegas and play roulette. At least you will get a holiday and some free drinks out of it.
walm said:
AA999 said:
But, if I am consistently turning a positive return then I may set up a £5k account with some real spends to play with.
If you consistently turn a positive return then you are having a lucky streak in your gambling.If you want to spend £5k on an investing hobby such as the gambling you have been doing then by all means set up an account (although something UK regulated would be a start).
However, be prepared to lose all of it and at the risk of repeating myself, be honest with yourself and recognise that you are gambling. Not saving, not investing.
You may as well head to Vegas and play roulette. At least you will get a holiday and some free drinks out of it.
AA999 said:
DonkeyApple said:
Just out of interest why would you ever even contemplate opening a Bulgarian trading account?
You've lost me there matey.When looking for a broker always look for their FCA number and also where they are based. You will always be better off using a UK firm.
Also, demo accounts are designed to flatter a potential customer. Certain plug-ins which are banned in the UK are still used freely overseas to make you think you can't lose.
Just keep your eyes open.
AA999 said:
All advice taken.
Cheers.
So there are softwares/plugins out there that are banned for UK trading?
Are these trend prediction type of affairs? Or are they something more sinister?
It's not that.Cheers.
So there are softwares/plugins out there that are banned for UK trading?
Are these trend prediction type of affairs? Or are they something more sinister?
The point is with the FCA (UK regulator) you have at least a little more reassurance that the outfit won't just take your cash and blow it on coke and hookers.
In particular there is the Financial Services Compensation Scheme which protects the first £85k of your deposits.
So even if a firm does rip you off you can claim back from the FSCS as long as that firm is FCA regulated.
There are lots of other benefits such as mis-selling regs and marketing rules but that deposit protection seems to be the most important. Just ask anyone with Icesave deposits.
AA999 said:
All advice taken.
Cheers.
So there are softwares/plugins out there that are banned for UK trading?
Are these trend prediction type of affairs? Or are they something more sinister?
Demo platforms don't run on the same price feed as a live platform. Cheers.
So there are softwares/plugins out there that are banned for UK trading?
Are these trend prediction type of affairs? Or are they something more sinister?
The purpose of a demo platform is to sell the dream of easy money. Best way to do that is to ensure almost anyone who trades on a demo can make a profit. Simplest way to do that is to read their position and feed price manipulations in to ensure they win.
It's why every third world destination and spank shop like MT4 and the back office plugins that people have built for them.
And probably why MT4 has remained desktop not web based for so long.
walm said:
AA999 said:
All advice taken.
Cheers.
So there are softwares/plugins out there that are banned for UK trading?
Are these trend prediction type of affairs? Or are they something more sinister?
It's not that.Cheers.
So there are softwares/plugins out there that are banned for UK trading?
Are these trend prediction type of affairs? Or are they something more sinister?
The point is with the FCA (UK regulator) you have at least a little more reassurance that the outfit won't just take your cash and blow it on coke and hookers.
In particular there is the Financial Services Compensation Scheme which protects the first £85k of your deposits.
So even if a firm does rip you off you can claim back from the FSCS as long as that firm is FCA regulated.
There are lots of other benefits such as mis-selling regs and marketing rules but that deposit protection seems to be the most important. Just ask anyone with Icesave deposits.
Be wary of just starting out and doing guessing trades.
I have friends that have lost upwards of £70k each trying out home trading.
Only one has ever made money on it and it cost him £70k before he got the hang of it and stopped making guess trades, it takes a lot of time and he has to have a laptop with him in case a trade goes sour so he can get out at any time.
Sort out your research methods first before going ahead with a real money trading platform.
Then only choose a UK based recognised company that has good reviews like some of the above.
I have friends that have lost upwards of £70k each trying out home trading.
Only one has ever made money on it and it cost him £70k before he got the hang of it and stopped making guess trades, it takes a lot of time and he has to have a laptop with him in case a trade goes sour so he can get out at any time.
Sort out your research methods first before going ahead with a real money trading platform.
Then only choose a UK based recognised company that has good reviews like some of the above.
limpsfield said:
Inkyfingers said:
This isn't quite true. Whilst using a UK based FCA regulated institution protects you much better than using a foreign platform, the £85,000 guarantee only applies to savings, not investments.
From memory, UK regulated protection gives you compensation up to £50,000£85k on deposits/savings.
£50k on investments.
And a full set of lederhosen from Bulgaria otherwise.
Gassing Station | Finance | Top of Page | What's New | My Stuff