Market and Platform

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MattPole

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Thank you for taking the time to read and advise me it means a lot.
Ive decided to get in to day trading. Ive been reading day trading books and watching videos so far and i would liek to slowly get a better grasp on the market i will be tradign and getting used to a platform.
Im undecided on the market i want to trade on (either uk/euro/us) and because of this im not too sure where to start looking for a broker so i can start getting used to everything on the imulator.
Im based in the uk and would really appreciate some advice on a market and brokers.
Thanks a lot.
 
Last edited by a moderator:
Hi Matt.

As you are based in the UK and new to trading, I suggest you start with FTSE trading on the LSE.

This will minimize things such as |Tax Complications.

If you trade international markets, you would be incurring withholding taxes, and that will apply equally to EU markets very shortly, being as the suicidal majority voted for getting out of their largest trading arrangement.

As to brokers, consider factors such as price per trade and portfolio commission rates against what level of service they will provide for which cost.

Hope that helps give you some pointers.

:)
 
Demo trade until you're sure you can day-trade with consistent profits. You can't drive a racing car if you can't drive a car.
 
Agreed @tomorton, I'm all for demo trading as a learning tool to get used to how a platform operates.

Thereafter, there's nothing quite like risking your own real hard earned money in suitably cautious amounts to ensure a very steep learning curve indeed towards profitable trading.

Don't risk what you can't afford to lose, but you'll never learn to swim without getting wet.

Practice first, then get in the pool, at the shallow end where it's harder to drown.

:)
 
Watching movies and reading book will not help you that much. Opening a demo can be helpful in understanding so much better than you could ever imagine which can give you a kick to trade better in real account.
 
Yeah ofcourse I'm gonna demo trade first I'm just planning to do it on the market and platform that I will be using with real money hence my question about market and platform.
 
Has the uk market got enough liquidity and volatility to make day trading a profitable task on a independent day trading account?
 
MattPole said:
Has the uk market got enough liquidity and volatility to make day trading a profitable task on a independent day trading account?
Click to expand...

If I were you, I would have avoided day trading. Short-term or swing trading is better in the beginning.

Also, I would not limit myself to only one index. FTSE, DAX, DOW, S&P500 even NIKKEI are accessible through many platforms. Sometimes European indices make better movements, other times (like it is now) US indices are giving more.
 
saxon markets dont provide a stock scanner and are only a direct broker for EQa, IG on the other hand are a partially direct broker, their third party pro real time platform provides both a scanner and hotkeys
 
MattPole said:
Thank you for taking the time to read and advise me it means a lot.
Ive decided to get in to day trading. Ive been reading day trading books and watching videos so far and i would liek to slowly get a better grasp on the market i will be tradign and getting used to a platform.
Im undecided on the market i want to trade on (either uk/euro/us) and because of this im not too sure where to start looking for a broker so i can start getting used to everything on the imulator.
Im based in the uk and would really appreciate some advice on a market and brokers.
Thanks a lot.
Click to expand...
The best way to choose a market and broker is to use a demo accounts. Then choose what fits you best.
 
No need to pay for a good platform. I have used XM platform which gives a demo and real MT4 account for FREE.
Trade forex demo at first and then after a month or two use a micro account ( 10p bets ).. You will only need £100 to trade a micro forex account. You will probably blow out a couple of accounts before you get going.
GOOD LUCK
 
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