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Top 10 Sources for Online Trading

Monday, 14 Feb 2011 04:51 PM

What is Online Trading?
Online trading is nothing but investing online. When you buy and sell stocks or currency online, you are using an online broker. The online broker largely takes the place of a human broker. You use real money. However, instead of talking to someone about investments, you decide, for example, about what stocks to buy or sell. Almost all brokers offer online trading services. They offer unique trading platforms for the purpose and several online trading sources are available. Some of the best online trading sources are discussed here.

Getting Started
Choose a reliable and experienced online broker. Choose brokers who trade their own money and have been trading for several years. To trade online, you have to open an online account. There are lots of websites which offer this service. Do not ever open your online account on websites which are in disrepute and have not been in business lately.

Deciding on the best online source/broker becomes easy if you do the following:

1. Check if the brokerage charges suit your trading frequency.
2. Check the maintenance charges if you are not going to trade frequently.
3. Use the demo accounts offered by sources. You will know how the real thing works.
4. Ensure that your online source is strong in analysis and research areas.

Stock Trading
Stock trading is nothing but buying and selling stocks. Electronic markets use vast computer networks for online stock trading to match buyers and sellers. As an individual investor, you still need a broker to handle your trades; you do not have access to the electronic markets. Your broker accesses the exchange network and finds a buyer or seller for you.

Foreign Exchange Online Trading
Foreign exchange online trading is another speculative online business based on buying and selling foreign exchange, gaining profits from the rise and fall of currency rate. Foreign exchange online trading is not for everyone. You should raise your profits steadily and not swiftly.

Top Ten Sources of Online Trading
While several online trading sources are available, only some are regarded as the best. The following are the top ten sources of online trading:

1. SmartMoney.com
2. Barron’s
3. ConsumerReports.org
4. J.D. Power and Associates
5. Kiplinger.com
6. Technical Analysis of Stocks & Commodities Magazine
7. Forbes
8. American Association of Individual Investors Journal
9. TopTenReviews.com
10. BetterTrades.com

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