Are you searching for a reliable online trading platform that has it all? The only way to find the one most suitable for the assets you trade, and your experience level is to check out the top six. They're all listed below, along with a short description of each one. They all offer free trials, so take two or three of your favorites for a test drive and get into the market action after creating an account.
It is key to take advantage of online courses for traders. No matter which of the platforms you end up using for your regular buying and selling, it's smart to enhance your knowledge by taking online trading courses and developing practical skills. The beauty of online educational training is that you can do it from anywhere, anytime that's convenient. Courses are self-paced, cover all the bases, and deliver solid results for those who take them.
An active trader's dream, Ally lets you track securities, build watchlists, and monitor all your open trades in terms of gains or losses. There are more than 115 chart studies, eight basic chart styles, and three dozen drawing utilities for those who enjoy analyzing theories and systems before opening live positions.
Charles Schwab is most appropriate for beginners, but it's also adaptable for those who are more experienced or who engage in high frequency buying and selling. If you like to review company data, add specific names to a watchlist, or study popular trends, Charles Schwab is an excellent choice. There's a higher tier called StreetSmart Edge that lets users do all sorts of customization.
If you're active in the markets, Lightspeed can be a wise choice because it offers multiple platforms that focus on different markets and strategies. The main version is free, but others come with monthly fees. Mobile and web-based users like the simple interface that includes technical indicators, fundamentals, every kind of chart imaginable, and useful watchlists.
Interactive Brokers operates in almost all securities markets around the world and has built a top reputation as the go-to brokerage firm for active investors and trading enthusiasts. The company offers fast, reliable order execution. Its proprietary GlobalTrader platform is set up for casual in-and-out positions, while the true backbone of Interactive Brokers is its Trader Workstation.
One of the largest brokerage firms on earth, Merrill offers a well-rounded online experience with its MarketPro, which is packed with useful features for traders of all experience levels. You can customize the dash to suit your needs with the drag and drop utility. It's like having your own website for trading. The streaming data, trade alerts, and powerful charging tools, Merrill Edge is easily one of the top choices in the category.
If you like charting that's built-in and a simple desktop-based app that comes with almost 200 indicators, both fundamental and technical, TradeStation could be your best fit. Users can even build customized indicators and leverage the power of historical data going back more than 40 years. All those things make TradeStation ideal for those who enjoy back testing and analyzing large volumes of information.
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