Logan Baker
If you’re looking for a fresh method to trade stocks online, you’ll need to consider one of the numerous trading platforms that are available in the UK. This article will discuss eToro and Plus500, AvaTrade and Saxo. Each platform has a range of features that can help you make the right choices for your requirements.
eToro
eToro allows you to copy trades made by other traders. You can also check the position of the other person and the total return on their trades. You can also decide to stop copying trades when you aren’t confident about the risk. You can also set a risk limit on your own – I personally would set mine around 25 percent. eToro offers tools that let you keep track of and close trades. You can also track how much you have invested in other people’s trades.
To start trading, you must sign up with eToro and then create an account. You will be asked a number of questions about your goals in investing, your tolerance to risk and other specifics. You will also be asked to prove your identity by providing a photo ID and proof of address. The verification process for your account can take three days to complete.
Plus500
Plus500 is a well-established business with offices across the world including the UK. It is regulated, and must comply with certain standards by the London Stock Exchange to be allowed to operate. It accepts different payment methods, including credit cards, debit cards, electronic wallets and bank transfers. Plus500 also supports two-step authentication. This means that you can send a verification code by email or mobile phone.
Plus500 provides CFDs on over 70 currency pairs, including EUR/GBP, GBP/USD, and AUD/USD. The platform also allows traders to trade ETFs, stocks, commodities, and cryptocurrencies. While best trading platform uk to the same level of risk as stocks and other investment instruments, Plus500 does support trading on bitcoin and other cryptocurrencies.
AvaTrade
As an international broker, AvaTrade offers over fifty currencies, low spreads, and leverage of up to 400:1. They offer 614 equity investments, 58 ETFs, and 44 options. The platform is accessible in all countries, except the USA. They also support a range of E-wallets.
There are two types of trading accounts available on the platform one of which is a standard account and the other the demo account. Standard accounts require a minimum deposit of $100. They can be funded via wire transfer. To comply with Islamic Sharia Principles, Muslims can open a bank with a swap-free account and trade without interest. AvaTrade also provides protection against negative balances. This means that it will refund any amount you have earned from trading in stocks.
Saxo
Saxo Capital Markets, a brokerage firm, is a specialist in providing brokerage services to professionals and sophisticated traders. It provides a range of brokerage options and tiers to fit every level of experience and budget. There is no live chat and you’ll need to contact the sales department. Crediting your account will take approximately two to five business days.
As a fully regulated investment platform, Saxo has strict guidelines to ensure that you don’t lose any money. You must possess an official photo ID issued by the government, such as a passport, driver’s license, or other form of government-issued ID to register. You must also provide proof of residency such as the utility bill, bank statement, or other evidence.