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BEST STOCK TRADING PLATFORM HOW TO

If you’re just a casual investor, do you really need an investment platform that offers a lot of bells and whistles? On the other hand, some platforms aimed at beginner traders may not have all the features an experienced investor needs. Explore customer feedback in places like the Better Business Bureau and Reddit to find out what investors really think about the platform. If you prefer to trade on your mobile device, check investor feedback in Google Play and the App Store. Most trading platforms offer mobile trading support, but applications typically aren’t as robust as the desktop version of the platform. In addition to present-time trades, can you also hedge against risks by placing market orders, limit orders or stop orders? Consider the options available when you are buying or selling shares. Beginners may want a platform with educational resources, while active traders will need robust analytics tools. Make sure the platform you pick can cater to your trading interests. Some platforms offer a wide range of securities, while others specialize in only one or two. Look beyond what trading commissions a platform charges and ask about account minimums, transfer fees and costs for other securities.

BEST STOCK TRADING PLATFORM HOW TO

How to compare the best online stock trading platforms in Canadaīefore signing up for a brokerage account, consider factors that include:

What will it cost me? Besides ongoing management and account maintenance fees, consider trading fees and whether you can get these fees waived or reduced if you satisfy certain criteria.

Also consider whether you want to trade domestic securities, international securities or a combination of the two.

What will I be trading? While stocks are a very commonly-traded security, you may also want to buy and sell other securities such as bonds, currencies, options and futures.

With a higher trading frequency comes the need for an online investing platform that offers an affordable tier structure and an extensive range of features.

How often will I trade? If you buy or sell shares infrequently - say, 1-2 times per month or less - you’re likely more of a casual investor.

What type of stock trader am I? Are you a casual trader, an active trader or an experienced investor? From the user-friendliness of a platform to the level of market research and educational tools that come with your account, it’s important to find an investment service that works with your trading needs.

When searching for the best stock trading platform for you, ask yourself the following questions: How to find the best stock trading platform in Canada No single trading platform will be the best choice for everyone, so compare your options before picking an online brokerage.

Additional notable features offered such as research tools, educational resources, practice accounts, etc.

Mobile/desktop support and user interface.

We take these factors into account when choosing our top picks: None of these picks are sponsored – we also take into account providers and cards that we aren’t partnered with – so that our selections are chosen without bias. We’ve chosen the best online stock broker trading platforms on this page based on an independent set of criteria. How we chose the best online brokers in Canada Interactive Brokers even lets you borrow money to buy shares, something a beginning investor should be very wary about doing. The offering is so detailed it may be daunting for beginners. It also offers analytical tools to help you make better trading decisions. The Interactive Brokers web portal has a detailed educational section, with webinars, videos and even a Traders' Academy. There is a minimum commission of $1 per trade and a maximum of 0.5% of the total trade value. Basically, the more you trade the cheaper it becomes. Interactive Brokers has a tiered pricing structure when it comes to commissions. It offers access to stock markets in 33 different countries and 68 different order types, including stocks, options, currencies and bonds – far more than other brokerage platforms we looked at. In short, it is well suited to those with plenty of experience in online trading and with plenty of money to trade. The fact that Interactive Brokers promises to take your investing to the next level signals the type of investors the platform wants to attract.