Best online brokerage account for beginners
Best online brokerage account for beginners For beginners, it can be a little confusing finding the right kind of a broker. I believe the best Best online brokerage account for beginners is Etoro. Why? ( because I know them for years now! And trade there myself ) It will offer you a soft landing if you are new to forex trading. It is custom built, offers social trading tools, has an easy to use interface, and high-quality educational resources.
eToro allows traders to make a minimum first deposit of $500. This is an amount that most first time traders can afford.
eToro offers beginners with a practice account with $50, 000 virtual money for use during their training. Additionally, the practice account does not expire and traders can continue using it until they are confident to invest real money.
Learning Resources and Tools: eToro broker offers all its customers daily market updates thus helping them to keep up to date with the economic news happing across the globe. The broker also holds webinars with the aim of discussing various events. eToro also has a dedicated section on educational resources and materials.
Social Trading: The broker allows new traders to copy the trades of more experienced traders so that they understand how forex works and can ask anything. This ensures that traders earn as they learn. All the traders in the community are verified and the risk of an individual losing their money is minimal.
Getting started in eToro
To sign up, visit eToro.Com. The broker does not require lengthy paperwork. Opening an account with the broker is straightforward and free. You only need to enter your particulars and select your username. Moreover, you will be asked to give a phone number to protect your account.
You may not need to make a deposit at this moment before you get familiar with the application. However, you can deposit money by clicking on ‘Deposit Funds’ button at the bottom left. eToro allows you to make an initial deposit of $200. This is a perfect amount to begin with as the broker enables you to copy another trader if you have a minimum of $100. You can deposit money in different currencies such as USD or GBP. You can use your credit cards or electronic wallets. Paypall, skril, moneybookers, Bank
- verification process
A clear copy of your valid passport or government issued ID, showing all the relevant information including:
- Your photograph, full name and date of birth
- Country of issue and issue/expiry date
- Passport/ID number and MRZ number
a clear copy of a recent utility bill or bank statement (no older than 6 months) showing:
- Your name
- Your updated home address
- Date of issue
- Issuer of the document
After you familiarize yourself with the broker’s platform, search for other traders who you wish to follow or copy. This can be done using many useful filters to narrow down on the best traders with impressive performance and in the right markets. For traders you copy, when they execute a trade, it is also opened in your account and also closed when they close. Fully automated. You can Copy trades someone with a maximum of 50.000. You can copy me and read about me and check my trackrecord. started in 2014
I only advice Etoro as the Best online brokerage account for beginners beacse I know them for years now! And trade there myself.