The Lowdown On Online Trading And Share Dealing
The time was that trading stocks and shares was solely the preserve of the rich, but with the advent of online trading, anyone with a computer, decent broadband and a few dollars to spare can take a punt on the stock market. The market is now accessible to pretty much everyone, but that doesn’t mean it’s an easy option. Online share trading needs knowledge and experience if it’s going to work for you.
Online share trading isn’t simply a question of buying some stock and sitting around waiting for your profits to rise. The first thing you need to do is choose a decent trading platform. Most platforms now have the option to pay a premium to have a real live broker assist you with your trades, and, while expensive, these brokers are invaluable, as they show you the ropes.
You can try your hand at share dealing on your own if you like, but make sure that you’ve researched your options thoroughly, and don’t risk too much money. Lots of the trading platforms have a virtual section in which you can literally play the stock market with online Monopoly money, and this is a good idea if you don’t want to pay extra for an experienced trader.
Share dealing online isn’t too different from doing it over the phone, or indeed, on the floor of a stock exchange. You decide to buy x-number of shares for x-amount of money each, and the online exchange matches your order with someone waiting to sell at that price. Your account is updated as soon as the transaction is complete, which is one of the bonuses of online share trading; as if you’re new to the game, or are doing a lot of trades, your moves are easy to keep track of.