These past few years have been very important for the development of cryptocurrencies. Many have even come to crown 2017 as the year of the Bitcoin as this topic has been at the forefront of discussions worldwide be it on the news, online, in magazines, among friends & family etc. Naturally, with the increased interest that this topic has been sparking many have decided to jump on the bandwagon and learn how to trade and invest online. There are many things that beginners must be aware of when it comes to trading cryptocurrencies such as the use of an online trading platform.
Essentially, this trading platform is a software that brings traders and investors together in one place and allows them to buy and sell their currencies and other financial instruments. There are many different trading platforms available and are predominantly offered by brokers either for free or for a minimum amount of trades per month.
These online trading platforms offer many benefits when compared to traditional brokers and financial dealers. For one, it’s quick and easy to use and secondly, they offer a number of educational opportunities to help investors learn more about dealing and trading a number of commodities, shares and currencies.
The added convenience of being able to access your online broker whenever you wish, be it day or night, is also another great feature allowing for more flexibility. Further advantages of online trading platforms include:
1. Ease of dealing
Gone are the days when trading involved calling a broker to arrange for purchases or sales. With online trading it’s all done in just a few clicks and it’s rare that traders need to speak directly with their broker.
Online trading is very affordable, as more and more brokers are offering online trading, the costs of dealing has decreased considerably, thus allowing traders to benefit from greater income when successful trades are made.
3. Greater control
As previously mentioned, online trades can be conducted at any time day or night, allowing traders to choose when they choose to trade. Additionally, trading can take place via mobile device or laptop, allowing for even more flexibility and freedom and trading on the go.
4. Real time trading
Online brokers offer real time prices and an advanced interface, so traders can keep an eye on their deals at any time and get the most up-to-the-minute prices.
5. Faster transactions
Online trading is extremely fast. As soon as an account has been set up with an online broker, trading can take place immediately as long as sufficient capital is in the account. There are numerous online trading platforms out there, trading with IG offers all the above, plus the knowledge that you’re trading with one of the most popular and trusted online brokers on the internet. Make sure to spend enough doing due diligence and familiarizing yourself with online trading in general including the different trading strategies that are available to help make the most of your trades and have a better overall knowledge of the industry.