Some Info Please

MaedzTrades

Newbie
4 0
Hi from the UK

I need some help please

I've been researching trading for a few months now but I've never placed a trade apart from on a simulator.

I've been looking into proper platforms Meta4 and 5. Ninja trading 8. Speedtrader, suretrader, light trader..I've looked at them all.

My simulator is the app Plus500 which is nothing like the others mentioned above.

What platforms can i use that will take a minimum £500 or $ equivalant any ideas?
 
C

cantagril

0 0
I've been researching trading for a few months now but I've never placed a trade apart from on a simulator.
I've been looking into proper platforms Meta4 and 5. Ninja trading 8. Speedtrader, suretrader, light trader..I've looked at them all.
My simulator is the app Plus500 which is nothing like the others mentioned above.
What platforms can i use that will take a minimum £500 or $ equivalant any ideas?
A couple of points:

As you say that you've never placed a real trade, are you looking to a) Understand how trading platforms generally work? b) Learn how to trade for real? c) A combination of the two?
I suspect that it's probably c. If that is the case then I'd concur with ffsear's advice - having all the bells and whistles is fine if you already understand what they do and how to use them. Nothing wrong with starting with a broker offering different platforms - say a streamlined web based one and something else a bit more "grown up". If the broker were to offer demo accounts of both of these then you would indeed be able to learn for free and practice cheaply.

If you really don't like ffsear's counsel the you could try one of Finsa's brands: Corespeads, Financialspreads or Tradedirect365...there might be a couple of others but I think the platforms are foreign language. The charts are provided by ChartIQ and have a decent enough library for those starting out. They also do web platforms and MT4 with demo accounts in both. Not sure about min deposit though. You could also try FXCM as well - I think you can start with them for £100 or so and trade 10p a pip.
 
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Nowler

Experienced member
1,527 229
I started on a Demo with Oanda.
I now trade a live but micro account with them.
I believe you can deposit as little as £5!

I don't really need "all the bells and whistles" - my requirements for trading are quite simple - So Oanda has been fine with me.
I am considering a jump to IG though, as I can do what I do now, but can also trade stocks from within an ISA.

Oanda have their fxTrade/charting platform, but you can use MT4 also (I never learned how to use MT4, but should as its used ubiquitously across different brokers.
 
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MaedzTrades

Newbie
4 0
A couple of points:

As you say that you've never placed a real trade, are you looking to a) Understand how trading platforms generally work? b) Learn how to trade for real? c) A combination of the two?
I suspect that it's probably c. If that is the case then I'd concur with ffsear's advice - having all the bells and whistles is fine if you already understand what they do and how to use them. Nothing wrong with starting with a broker offering different platforms - say a streamlined web based one and something else a bit more "grown up". If the broker were to offer demo accounts of both of these then you would indeed be able to learn for free and practice cheaply.

If you really don't like ffsear's counsel the you could try one of Finsa's brands: Corespeads, Financialspreads or Tradedirect365...there might be a couple of others but I think the platforms are foreign language. The charts are provided by ChartIQ and have a decent enough library for those starting out. They also do web platforms and MT4 with demo accounts in both. Not sure about min deposit though. You could also try FXCM as well - I think you can start with them for £100 or so and trade 10p a pip.


I have a full time job at the moment but my ultimate goal (5-10 years) is to be able to replace my full time job with day trading.

I know i have a lot of information to take in and i know it will not happen over night.

So yes as you said it is C. im just reading, looking at charts watching news and how that market performs based on that news.

The reason i wanted to know about platforms is because pluss500 is nothing like the other playforms i've seen so i didnt want to do well on that then change the platform and have to get use to the settings etc with the a new platform.

I do have a demo account with oanda and FXCM omongst many others.

Tbh i think im just overwhelmed with all the information there is i guess im just looking for the best starting point.
 

Nowler

Experienced member
1,527 229
At first trading seems really complicated.
But in fact, it's quite easy to grasp once you realise that a lot of it is noise.

Best starting point is a very simple starting point.
A chart, a 50 and 100 period moving average, and some volume.

Have a good source for info/data.
Get comfortable with that first and then try adding things.
 
Last edited:

hatemypips

Established member
702 61
Hi from the UK

I need some help please

I've been researching trading for a few months now but I've never placed a trade apart from on a simulator.

I've been looking into proper platforms Meta4 and 5. Ninja trading 8. Speedtrader, suretrader, light trader..I've looked at them all.

My simulator is the app Plus500 which is nothing like the others mentioned above.

What platforms can i use that will take a minimum £500 or $ equivalant any ideas?
As for CFD brokers I can recommend Tickmill or Hotforex, they are regulated by FCA which kinda levels playing field between broker and trader and also adds additional layer of safety in the form of investor compensation fund. I think you can give them a try.
 
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