We found 11 online brokers that are appropriate for Trading Becoming A Trader.
Being a day trader seems to bring many benefits compared to other jobs. But is this really true?
There are many people who become day traders besides getting a lot of profit, they can also experience a loss.
Day trading is a particular activity of selling and buying from a broker in a day. On the same day, the frequency of trading is done several times and does not leave open positions for the next day.
In contrast to active traders and investors who usually invest for longer, a day trader usually uses leverage to increase the value of their daily trades.
There are many people who think being a day trader is easy.
To prepare capital, buy at a low price and then sell after making a profit. Even young children can become day traders.
Of course this kind of thinking is not correct. To become a day trader it is not as easy as we imagine.
Before becoming a professional day trader, there are several things that you should prepare for both mentally and physically.
If you can answer all of the above questions with confidence, then you have completed the initial steps to become a professional day trader.
The next step is to determine your initial capital as a professional day trader.
To become a day trader, of course you expect this job to become a major source of income that can meet your daily needs.
You have to realize that trading is not a job that can produce a certain nominated amount every day.
The amount of profit and loss that you can get depends very much on the capital prepared for trading. No profit or loss is consistently generated from trading To deal with this risk, a day trader must have sufficient capital.
In the book "Trading Your Way to Financial Freedom" written by a trading expert called Van Tharp he writes that entering the world of trading with only a little capital is the path to failure.
Before deciding to commit to becoming a full time trader, Van Tharp recommends a novice trader to prepare at least $100,000 for trading.
A beginner trader could start with a smaller amount of capital depending on the chosen trading plan, the number of trading frequencies and other additional costs they might bear.
Before starting trading, a novice trader must first learn about market behavior. Day to day trading requires a strong knowledge base on how the market works.
From simple details such as trading hours, market holidays, to complicated details such as the impact of news events, margin requirements, and trade-able instruments. A professional day trader must have a broader knowledge base to know this before entering the world of trading.
After learning how the world of trading works, a day trader must develop good strategies in trading by learning the terms commonly used in the world of trading and trading strategies on the internet to improve the ability to develop the best strategy according to your own style.
The world of trading has a dynamic nature; you must monitor the effectiveness of the chosen trading strategy and if necessary, adjust or replace it depending on the market developments.
A good trading strategy could be financially beneficial in the long term.
The next step is to determine the best broker for you. Do a thorough research of several brokers, as day trading usually involves many transactions in a day and the brokerage fees charged can increase..
Other than trade execution, the broker can also offer other trading utilities such as trading platforms, trading software, integrated trading solutions such as a combination of options, historical data etc. Some of the utilities may be provided free of charge, while some may be chargeable, choose a broker wisely.
After everything is prepared, try trading with virtual money by simulating the virtual account as your practice account (not all brokers offer this test account).
You can also test your strategy on existing historical data. Even though you have sufficient capital and have considerable experience, be cautious in your initial trading using a new strategy.
Start with smaller amounts and add with time after you feel the success of using a new strategy.
Markets and trading opportunities will remain forever but if the funds have depleted, they can be difficult to accumulate again. In summary whilst closing, always be cautious even when you a decent gain is received.
We've collected thousands of datapoints and written a guide to help you find the best Becoming a Trader for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best becoming a trader below. You can go straight to the broker list here.
There are a number of important factors to consider when picking an online Becoming A Trader trading brokerage.
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
We compare these features to make it easier for you to make a more informed choice.
Here are the top Becoming A Trader.
Compare Becoming A Trader min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
All brokers below are becoming a trader. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more becoming a trader that accept becoming a trader clients
Broker |
eToro
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IC Markets
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XTB
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FP Markets
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Roboforex
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Trading212
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Plus500
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Pepperstone
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EasyMarkets
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XM
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FXPrimus
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Rating | |||||||||||
Regulation | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG) | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) | Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) | Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546 | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID) |
Min Deposit | 200 | 200 | No minimum deposit | 100 | 1 | 1 | 100 | 200 | 100 | 5 | 100 |
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Used By | 17,000,000+ | 60,000+ | 250,000+ | 10,000+ | 10,000+ | 14,000,000+ | 15,500+ | 10,000+ | 142,500+ | 70,000+ | 10,000+ |
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Platforms | Web Trader, Tablet & Mobile apps | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | MT4, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps |
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Learn More |
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Up with pepperstone |
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Up with easymarkets |
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Up with xm |
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Up with fxprimus |
Risk Warning | 71% of retail investor accounts lose money when trading CFDs with this provider. | Losses can exceed deposits | 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | Losses can exceed deposits | Losses can exceed deposits | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money | Your capital is at risk | Your capital is at risk | Losses can exceed deposits |
Demo |
eToro Demo |
IC Markets Demo |
XTB Demo |
FP Markets Demo |
Roboforex Demo |
Trading 212 Demo |
Plus500 Demo |
Pepperstone Demo |
easyMarkets Demo |
XM Demo |
FXPrimus Demo |
Excluded Countries | IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, KZ, GD, FJ, BB, BM, BS, AG, AI, AW, LB, SV, US, PY, HN, GT, PR, NI, VG, AN, | AF, GN, SL, BW, IR, SY, MM, IQ, TG, KH, LS, YE, CI , LR, ZW, CU, LY, TZ, CG, ML, BO, LR, NE, AO, GM, NG, AG, GH, KR, KG, GN, SN, NA | US, IN, PK, BD, NG , ID, BE | US, JP, NZ | US, JP | US | MY, BE, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO, AE | BR, KR, IR, IQ, SY, JP, US | US | US, CA, IL, KR, IR, MM, CU, SD, SY | AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR, US, AU, SY, DZ, JP, EC. |
You can compare Becoming A Trader ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
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