With so many choices, how to you select the best platform to trade online? Do you even know what type of asset class you’d like to trade? And once you do know, where is the best place to trade it?!

Well, luckily we all have a type! Whether it is a partner type, friend type or yes, even stock trading type. It is important to now what type of anything peaks your interest. Let’s face it, if we are not interested in something, we tend to not be committed to it or even learn it. Trading takes commitment and lots of learning, so as we said before, this is an important question to ask yourself…

“What asset class interests me the most?”

Knowing about each class and deciding on one for you will let you know where you will need to trade stocks. Will it be with a broker or through an online forum? Let’s go over each class and help you find your trading platform soulmate!

What this article covers:

Best Platforms to Trade Crypto Online

First off, what the check is cryptocurrency? Well to put it quite simply, it is a form of currency that is digital or virtual.

No, I’m not referring to the kind that your partner collects in his videogame account for hitting certain levels or completing certain tasks of the game!

We are talking about actual money in digital form! Let’s review different platforms and exchanges that you can utilise to buy, sell or trade different cryptocurrencies.

Binance

Binance is the largest crypto platform out there. They have the biggest range of altcoins available and that number just keeps rising by the day! This is honestly the place to be whether you are a beginner or a veteran in altcoin trading. This platform is used by day and swing traders, plus investors. It is not leveraged trading but rather buy and sell. Who doesn’t like having options?

As women, we need options! Binance has them in terms of alt coins and trading options.

Bitmex

Bitmex is mainly an exchange for bitcoin and retains quite a bit of leverage. While they do offer demo accounts, it is not for beginners. They do not offer fiat exchange, meaning you cannot directly transfer your dollars or Euros for trade of crypto. You can only utilise bitcoin cash as a form of currency.

bitmex is a great exchange for margin leveraged trading, so it best suits day traders and scalpers.

Coinbase

Coinbase is a digital currency exchange that is more suitable for longer term holders like investors and swing traders. It however, is not a trading platform, but the easiest way to buy bitcoin. You can also buy other larger altcoins such as: litecoin or Ethereum. You can then trade those altcoins on other exchanges such as Bitmex.

Coinbase is one of the easiest ways to buy bitcoin.

Cryptopia

Cryptopia is a crypto exchange that is best for small cap alts. It has a rather low volume, making it harder to trade than Binance. However, don’t let that fool you! There are some great smaller gems. It is for buying and selling, not for leveraged trading, making it suitable for swing traders and investors. Low volume and no leverage means it is less suitable for day traders and scalpers.
Update: Cryptopia suffered security breach in early 2019, it has recently relaunched.

Coinigy

Coinigy is a digital platform that gives you access to 45 platforms. You will need to create accounts on these individually to use them. Once you have them you can trade high volumes, quickly across all platforms. It is also set up to spot arbitrage, meaning you will be able to see if the price is different elsewhere! It’s like the bargain catalog! It is aimed for more intermediate/expert traders/investors. Unfortunately, beginners won’t get value from it. Not to worry though, you will be there in no time!

Plus500 and eToro are platforms that also have crypto trading. These platforms, however, do not have crypto deposits, they only allow fiat exchange and CFD trading (margined trading). Although they do have demo accounts.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Don’t forget to check out the full crypto summary on where you can buy, sell and trade bitcoin and crypto alts.
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Best Platforms to Trade Stocks Online

Plus500

A market leading in online trading, we’ve already mentioned it in the crypto (and soon to be Forex) space! The interface is really intuitive and simple to get used to so appeals to those that don’t want complexity. Plus, desk desktop and mobile application versions it makes accessing anywhere really easy.

Another favourite feature is ‘Guaranteed Stop’ which helps to protect your risk, along with Stop Limits, Stop Losses and Trailing Stops. A Wide range of CFDs on trading instruments also give this wide appeal, from individual stocks (eg. Tesla and Apple), to indexes (eg. NASDAQ, FTSE100 or DACH), to Crypto (eg. Bitcoin and Litecoin) and even now even Cannabis stocks.

Probably the best part for those starting out is the Demo Account, so you can get used to the interface and practice trading risk free, for as long as you want!

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

eToro

Studying any market you are actively trading is a lifelong commitment. There will never come a day that you will know everything about it, as hard as that is to believe! Yes, put your pride aside and accept that fact. eToro is a great platform that allows you to view, follow and copy the top traders. This gives you an upper hand on making efficient trades because you are copying those of trading veterans!

Both eToro and Plus500 have demo versions so you can practice before using real funds. There is also a comprehensive online stock broker comparison for you to find your right fit!

Best Platforms to Forex Trade Online

Have you ever been back packing across Europe or went to Cancun for a beach vacation? If so, then you have already made a forex trade! When you travel out of your currency range and need to convert your money, let’s say, dollars to pounds or pounds to pesos, you are essentially selling your money for another currency at their current value. That’s all forex trading is about! All trades will include two different currencies because in essence, you are betting the currencies against each other.

Plus500

Of course, if you haven’t been out of your particular currency range, you may not be familiar with the different values of different currencies. This is where we emphasise not only studying but also the use of demo accounts! Plus 500 is an online trading platform that also allows you create a mock aka demo account and practice trading! This will help you get the feel for trading forex!

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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What next?

Now that you have the information you need on where to trade different asset classes, it is time to get to work! Yes, that means add a little more on your “To-Do” list, but you will benefit in the long run when you are enjoying that much needed holiday! First, open an account on the exchange or platform that allows you the most learning potential. You will more than likely need some form of identification, so you will want to be prepared for that!

The second thing to do is make a demo account if that particular site has one! Become familiar with the platform and how it works. Knowledge is power and the more familiar you are with the way things work, the better off you will fare!

 

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