What is the best trading platform for newbies like me?

TickCOM

Active member
130 23
That would be the no-code trading and development platform 1 Station

No need of an account with a broker/exchange to start trading/developing/testing using live feed. You can use the platform to educate your self and pass the learning curve with express speed.
 

IceThor

Active member
181 40
Naturally, different people like different platforms. So it's just a personal preference.
I, personally, don't like mt4 (never bothered with mt5).

As for a broker? Make sure it's regulated.
Why should it be regulated??

Trading offshore with higher leverage allowed me to build my capital faster with significantly less capital @ risk on deposit for margin, which allowed me to keep my excess capital safely deposited in my bank account.

Regulation is about compliance, not protection. Anyone can argue its purpose, but at the end of the day, we can all see what it is really about. Maybe it started out as a righteous thing, but it has evolved into something else. This is why we see brokers being targeted, not for illegal activity, but for simply accepting US clients without first, paying for the privilege to do so and agreeing to terms that are both costly and inconvenient to maintain.
 
  • Like
Reactions: momo3HC

TickCOM

Active member
130 23
Problem is MT4 brokers are market makers, which is not a problem as long as you are losing money, but try withdraw a 10K profit from one of these brokers.

A solution is to trade crypto futures instead. On Binance, there is a 100 leverage, but since a crypto can move 10% in a 30 minutes move, there is no need to use leverage, and you can simply use buy till profit types of strategies. Another advantage of crypto exchanges (not all) is they are a true exchange and not market makers. Am quite sure Binance futures is a true exchange, I havnt tried other crypto exchanges since Binance is the biggetst having sufficient liquidity. A draw back on Binance, is the daily limit on withdrawals, but can be fixed by transferring coins to other wallets having lower fees.

Other exchange trading options is of cause US futures exchanges, but they require heavy account funding, high contract values compared with you can trade as low as 20USD trades on BInance.

No doubt crypto is the way forward, and FX/CFD belongs to the past. We can expect top 8 FX pairs will soon be available as crypto, and FX/CFD brokers are "dead". Exchange trading is the future, not Citadel and other market making schemes.

Finally, MT4/MT5 is a closed environment, having only their own MetaTrader outdated platform from 1995, old tech with no cross market capability etc. There are a few platforms available such a C-trader, but they are also outdated 1990-style platforms.

Main problem for traders is still tunnel sight, unflexible to change path, or adapt to new technologies and markets. If you do not make money trading, or struggling developing algoes, then change what you are doing.
 
Last edited:

plink

Junior member
15 5
Why should it be regulated??

Trading offshore with higher leverage allowed me to build my capital faster with significantly less capital @ risk on deposit for margin, which allowed me to keep my excess capital safely deposited in my bank account.

Regulation is about compliance, not protection. Anyone can argue its purpose, but at the end of the day, we can all see what it is really about. Maybe it started out as a righteous thing, but it has evolved into something else. This is why we see brokers being targeted, not for illegal activity, but for simply accepting US clients without first, paying for the privilege to do so and agreeing to terms that are both costly and inconvenient to maintain.
Oh dear.
Another super duper trader.
 

momo3HC

Active member
214 64
Why should it be regulated??

Trading offshore with higher leverage allowed me to build my capital faster with significantly less capital @ risk on deposit for margin, which allowed me to keep my excess capital safely deposited in my bank account.

Regulation is about compliance, not protection. Anyone can argue its purpose, but at the end of the day, we can all see what it is really about. Maybe it started out as a righteous thing, but it has evolved into something else. This is why we see brokers being targeted, not for illegal activity, but for simply accepting US clients without first, paying for the privilege to do so and agreeing to terms that are both costly and inconvenient to maintain.
Absolutely right. This regulation vouching is making me real crazy. Regulations means nothing and don`t regulate anything except the bad trading conditions.
 
  • Like
Reactions: IceThor

carlosmckenna1

Newbie
7 0
sierra charts -interactive brokers - dont use real money until you are profitable 3 months in a row -90% will loose their first account regardless of how much is in it . trading is not a quick way to a second income so dont listen to the retail bullshit . become an expert at ONE strategy and you will save yourself years of time and money . good luck
Thank for this, what would be the best way to demo for three months?
 

IceThor

Active member
181 40
Thank for this, what would be the best way to demo for three months?
You should demo until you have had, in my opinion, at least 1 year of consistent profits with the same strategy.
 
  • Like
Reactions: momo3HC

WalletInvestor

Active member
127 35
Aside from specific platform and broker choices, I would recommend you to start with a demo or cent account. It doesn't prepare you for all aspects of trading but it is great to get the hang of the trading process and practice your skills.
 

sideways-sid

Active member
127 19
What is the best trading platform for newbies like me?

It depends entirely on your requirement.

The answer will be different if you're intending to trade large options at volume, occasionally buy shares in companies outside UK, or looking to optimise tax as examples.

Ignore recommendations from strangers on the internet who tell you to use ABC without asking what you're intending to use ABC for.
 
Last edited:
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock