Five essential features for an online broker to help with your trading

LAGOS (Capital Markets in Africa) – If you are looking for a reliable online broker, you need to conduct your research before choosing. In the following post, we have compiled a guideline for you to adhere to while searching for the right online trading expert like the TD Ameritrade online stock brokerage. 

About the account minimum
Look for a $0 minimum account while opening up the IRA or the brokerage accounts. This makes it economical to start with investing. Most of the online brokers require $500 to $2,500 to open new accounts. Additionally, you need to search for an online broker that doesn’t charge account inactivity fees. Make sure that the service extends all the research and tools to all the users irrespective of their portfolios.

Keep in mind tradable securities
A professional online brokerage service will extend all the investment options to the users – from forex to bitcoin. Inquire about availability for cryptocurrency contracts on-spot and partnerships with cryptocurrency regulatory exchange like the ErisX. Keep in mind that there are over 4,000 zero transaction fee mutual funds and around 300 ETFs that operate without commission. Ask your broker about the availability of the entire spectrum.

Support programs for investor education
Inquire about programs and seminars for supporting and educating investors in the tricks of the trade. This is extremely important as there is a lot to learn, and without expert help, it is just not possible. There are a large number of digital offerings available when it comes to informative content regarding stock trading.

Videos, slideshows, articles, seminars, and presentations; an expert online broker will cater to you for your benefit. An expert firm like TD Ameritrade has a curriculum based on levels of expertise, namely, the rookie, scholar, and guru. Additionally, there may be chatbots available with your online broker that answers all queries in real-time. Make a choice only after a careful review of the benefits on offer.

A virtual trading simulator
There are only a handful of online brokers that allow traders to access mock accounts on the platforms to go for practice runs. It is essential that you go for an online broker which offers a virtual trading simulator. These unique programs can be operated from the personal computer and can make all the difference in the world for you in terms of building experience and skill.

You can start with the “practice” money, and go for thorough testing of your strategies, access all the foreign exchanges and hone your skills. However, keep in mind there might be a fee for using the trading simulator, but there are free trial periods available as well.

Trading platforms and its importance
Look for a professional-grade and well-crafted trading platform that is available for both PC as well as mobile devices. TD provides a supercharged trading platform with all the information for stock identification, research, and free to use tools. Inquire about the availability of research work from financial experts like the CRFA, Market Edge, and Morning Star.

Keep in mind these simple considerations while on the lookout for the right online broker.