Choosing the right online share trading platform

If you want to trade then you will have to approach a broker who can help you out with your investing goals. If you can trade on your own then you will need an online trading platform. The online platforms provide easy access to the stock market.

Different online platforms may be optimised for different types of needs, therefore you should select the right online platform.

Choosing an online platform
Before starting, you should first decide what is most important to you in an online trading platform. The answer will be based on your investment goals. You may be investing to either supplement your regular income or want to fund a specific event or more. 

• If you are just beginning then you would want features like basic education resources, the ability to practice trades and glossaries. An experienced investor will look for the best share market app with features like advanced charting capabilities, the ability to trade derivatives, conditional order options and more.
• Once you have decided on your investment goals, you need to decide what you are looking for in an ideal brokerage. You should check if the broker is a member of the right regulatory body. Check if they offer any guarantee against fraud and find what the existing customers are saying. You should find out how well your information is protected.
• You should be clear about how much you want to pay for brokerage services. Some online brokers may be too expensive and may not work for you. Also, check the brokerage commission that you have to pay.
• You should test the broker’s online platform and find out what tools and resources it offers. For brokers who offer free account openings, you can sign up and access the platform if required. Check if it provides the quotes in real-time or if they are streaming, what orders you can place and if you can set up a customised watch list and alerts.
• Check the broker’s educational offerings and see if you can find the information you need easily. It should also provide historical data, earning reports and financial statements, dividend payments and more.
• Check if you can easily transfer funds from your brokerage account. Find out how you can deposit funds and how soon the funds will be available for investment.
• Check if they offer an automated number that you can call for basic queries, trade assistance, representative assistance, email address for assistance and more.