Our Favourite Platform: Webull
Why choose Webull: Webull is a commission-free stock and ETF trading platform. Experts designed Webull for the active trader who is looking for a more dynamic interface. The platform has sophisticated features such as, technical indicators, research agency ratings, and financial calendars. This is so you can find up to date reliable information and plan trades before you execute them. The watchlist and alert tools, give you notifications on the app if you position moves, or major news is expected in the industry you are trading in. Webull also operates on extended trading hours, from 9:30am to 4:30pm, and with 24/7 customer support you will never be left in the dark about your money.
As I mentioned Webull is 100% free. But because you are a reader of Business Minded you are eligible for a FREE STOCK when you deposit $100 into your trading account! you just need to follow the link and sign up HERE!
Things to consider: Webull is an advanced trading platform, so for beginners it can be quite overwhelming. My best tip for anyone who wants to start using Webull is to go through the training modules and start with a small amount in your account, you don't want to press the wrong button and be left in a trade you didn't want.
The Easiest To Use: eToro
Why choose eToro: eToro is a social trading platform created in 2006 that hosts Forex, commodities, stocks, and many more. The main goal of the platform was to be accessible to as many people as possible. With that goal in mind, we can tell you eToro’s interface is very easy to navigate and customer support is always available. With customer support in mind it is very easy to open an account, you also get a free stock when you open a live account no strings attached. Open your FREE account here!
When you create your account you can choose to start either a demo, or a live trading account. On a live account you must deposit $200 before you can enter a trade. This is one of the lower initial deposit amounts of the online trading platforms, also you can trade your live account alongside your demo account. Once you've got your account and filled it with $200 you can enjoy FREE stock trading.
What eToro could do better: The only drawback on eToro is the spread. When trading Forex you are charged a brokerage fee called the spread and eToros is quite high, but because we prefer to use this for stocks it doesn’t affect me much. The main thing to consider is whatever the spread is, take it into account when calculating your risk. Other than that it is by far the best option for traders.
Disclaimer: 75% of retail investor accounts lose money when trading CFDs with this provider.
The Best for Forex Trading: AxiTrader
Best features of AxiTrader: AxiTrader is an Australian FX broker founded in 2007. It is considered one of the safest FX brokers because of its long track record, but also because it is regulated by multiple top-tier authorities such as, the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Dubai Financial Services Authority (DFSA). It is also fully digital and very user friendly.
By utilising the MetaTrader 4 platform it is free to setup an account with a $0 minimum deposit, you can start trading 80+FX pairs, metals, and CFDs straight away with a margin of up to 400:1 (if you don't know what is meant by margin research first). The spread is low at only 0.1 pips, and with no commission on earnings the risk involved is lower but still significant. Finally there are no withdrawal fees.
Things to consider: There are limited research tools on AxiTrader, so you will either need to keep your ear to the pavement or get another software that gives you all the specific news and headlines. Also with some other platforms you can get price alerts, here they are not available yet. The only other drawback is you can only withdraw money from your account direct to a bank account, which can take up to 10 days, but then again it is free.