To say there’s a lot of money in stock trading would be an understatement, and getting involved can sound intimidating. But by 2011, online trading has breached the gap between viewers and players of the stock market. The game-like nature of trading apps has enticed record numbers of new users, but can be risky because of that. In our recent article on stock trading, the gaming environment can lead to overzealous buying with little understanding of repercussions.
So we’ve decided to try out some of the trading-apps currently on the market, and get the opinion of a beginner. He’ll initially register on the platform and share his experiences from signing up to buying and monitoring his portfolio.
Markets.com – Getting Started
This particular app has built a trusted reputation, acquiring asset rights from London Stock Exchange. It positions itself as a 24/5 trading site but allows users to trade over weekends too, making itself incredibly accessible. The main page has a lot of information on Forex and CFD trading, much of which I am clueless. Signing up is relatively painless but offers a promotional which offers £25 to answer questions.
The questions provide scenarios about stocks, all of which I answer with all the hapless innocence of Dorothy in Oz. I don’t know whether it’s permanent, but it’s a useful feature for assessing experience level of new users. Personally, it gave me pause for thought when it came to jumping in; it helps cool the jets of newcomers.
At first glance –
I immediately get hit by numbers, as though being attacked by a gang of maths teachers, very impressive. The first table is made up of top ranked stocks, which is a welcome practice. It also breaks these markets into lists of most volatile/rising/decreasing, while inconsequential to me, may prove valuable to more experienced investors.
Any highlighted stocks come up in an expanded window to show its changes over 6 hours which is very instructive. So I’ve found some who have peaked my interest, and I want to learn more about them.
Stock and Company information –
Ok, I discovered you could go extreme close-up on share prices that you have expanded, completely unintentional and funny. This feature might be handy for those looking for quickly buying and selling though, people unfamiliar with ‘candlesticks’ will be clueless. I decided upon Erthereum, mainly due to its previous rise to $330 last week.
Each field has a ‘?’ Icon to help newbies like me understand what each element means which is proving useful. The ‘Traders Trend’ is showing the breakdown of the amount available/sold, as well as buying and sale price.
Purchasing and monitoring shares-
So I decided to invest in Ethereum; according to the table, it looked set to rise from its original value. Pressing ‘buy shares’ immediately displays a window which gives you the option to sell at particular values which are informative. The separate sale windows provide percentile breakdowns of increases/decreases in value and automatically sells shares if I stepped away.
It then displayed my balance as negative. It’s through seeing this that I understand some of the disadvantages with online trading; it’d be easy to panic buy/sell after seeing that. It’s necessary for new buyers to know the long term commitments to their stock to avoid panicking their money away.
After buying, shares are easy to monitor with a segment of the site devoted to your investments for future reference. Using your email address and in-site notifications keeps you updated with developments and options to buy or sell. These announcements make for a unique feature as many new buyers will be oblivious to events and need that prompt.
Markets.com gives a somewhat startling yet informative impression to those brand new to stock trading but can be statistically dense. While it can leave beginners benumbed with information, the site provides resources to support anyone curious about its functions. It deserves its reputation as a reliable trading application and helps to ease new starters by providing a significant scope of information.