I always tell people that the best way to introduce stock trading to beginners is to let them know that stock trading is a super risky adventure, and as such, it could land you a huge sum in minutes or land you into losing a lifetime fortune in a second.
The reason for such orientation is to make them understand that it is a trade that requires careful and thorough training. It is not a trade that you venture into with just little experience. You need to be properly grounded in the field if you must be making a huge sum in minutes.
No one really wants to lose money in his trading. For that, it is necessary to follow the right platform where you will be well equipped on how to carry on with profitable trading.
Stock trading is like gambling, in which if you properly stake or predict, you can be making millions in minutes.
To equip yourself with the right knowledge on how to trade, you can get such knowledge from any of the online virtual platforms that we will be mentioning to you in this article...just keep reading to know these platforms.
There are a whole lot of good trading platforms. But for the sake of this article, we shall be introducing a very few of them to you.
1. TD Ameritrade
TD Ameritrade delivers $0 trades, fantastic trading platforms, excellent market research, industry-leading education for beginners, and reliable customer service. This outstanding all-around experience makes TD Ameritrade stand out. It is indeed the perfect platform for beginners who have little or no experience in stock trading.
TD Ameritrade is our top pick for beginners in 2021 says stockbrokers.com.
TD Ameritrade has been built in such a way that it's separate mobile app is built specifically for everyday investors.
2. Fidelity
This stock trading platform offers you excellent research and education. The platform has evolved as a major in the online brokerage activities.
Fidelity trading platform helps to ensure that cost of investment is kept at an affordable rate for investors.
The platform is designed to serve the vast majority of individual investors. For the average, buy-and-hold investor.
3. Dalal Street Stock Market Challenge
Bombay stock exchange (BSE) in collaboration with Dalal Street investment Journal provides this virtual platform to learn to trade in the stock market.
The Stock market is basically for three different sets of individuals which are ;serious traders, novice, and those who have lost confidence in the stock market.
It becomes more difficult as you go from level to level.
This online Stock Market Challenge is an online simulation trading game where you create and manage your own portfolio and compete with other players in a risk-free environment.
Whether you're new to the stock markets or an experienced investor, the platform is a great one for building skill.
4. Wall Street Magnate
This is a stock-trading platform and community website.
The stock trading platform experienced a tremendous growth, by March 2015, the platform had exceeded 60,000 monthly users. Participants are given $100,000 in simulated currency to build their fantasy stock portfolio.
Stocks are traded on the platform based on data from the New York Stock Exchange, NASDAQ and AMEX.
The platform allows members to interact among one another.
Additionally, the platform allows its members to test out thousands of new exchange-traded products including exchange-traded funds (ETFs) and debt securities such as exchange-traded notes (ETNs).
5. MarketWatch
Market watch is also one of the virtual trading platforms by Dows and Jones co. Providing all the necessary trading opportunities including stock trading.
MarketWatch offers you a home page that provides you with market updates, news, stock quotes, information with savings and lending rate.
Closing thoughts
Trading stocks isn't a game of trial and error. It requires training and understanding of how it works.
Knowing how to trade and what to trade on does not in any way happen by chance. All you need is a good trading platform that will get you the necessary assistance that you need for maximization of profit in the stock market.
In this article we have already provided you with both old and new platforms that will support your trade.
Good to know that you have included Dalal Street Stock Market Challenge in your list.