Free trading

And investors tempted by the idea of not forking out £10 or more in dealing costs every time they buy or sell shares are likely to be sorely tempted.

My list of forex bonuses

Is fee-free share dealing any good? Freetrade and Trading 212, free trading.

In the case of freetrade, commission-free share dealing, either through a standard account or isa, is the only service the digital broker currently offers. It plans to expand into new areas in future. It's free to open an isa account until july 2019. The cost will be £3 thereafter.

Free trading

By myron jobson for this is money 07:53, 02 apr 2019 , updated 14:54, 02 apr 2019

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8 shares

The cost of trading shares has fallen steeply since the start of the 2000s

Commission-free share trading offerings remove the broker charge

But other costs, like bid-ask spread, means that share trades can't be free

A new breed of investment platforms has cropped up in recent years allowing users to buy and sell company shares without incurring a broker charge.

Commission-free share trading is one of the latest exports from the US, where the rapid growth of zero-fee platforms like robinhood is eating into the margins of wall street banks.

At present, there are only two investment platforms in britain offering this: trading 212 and freetrade.

They will have their work cut out to prise market share from big established rivals, such as hargreaves lansdown, which boasts £85.9billion of private investors assets under management.

And investors tempted by the idea of not forking out £10 or more in dealing costs every time they buy or sell shares are likely to be sorely tempted.

However, both services come without the bells and whistles of the big DIY investing platforms and with potentially limited investment options.

The cost of buying and selling shares has fallen steeply since the start of the 2000s thanks to a digital revolution.

In the not too distance past, investors who wanted to buy and sell stocks and shares would have to do this through a stockbroker or a financial adviser who took a sizeable chunk of commission with every deal.

But times changed and online DIY investing platforms give investors the ability to buy and sell at their fingertips, whether from the comfort of their computer or even their phone.

The cost of buying and selling shares has fallen over time, but still remains sizeable at some platforms, with hargreaves lansdown charging £11.95, interactive investor £10 and AJ bell £9.95. Halifax-owned iweb deserves and honorable mention as it charges just £5

HOW THIS IS MONEY CAN HELP

Trading 212 and freetrade both have an eye-catching offer designed to pull customers in: neither charges a penny to buy or sell shares.

But why offer this and who are these two firms?

For trading 212, it was a case of adding another string to its bow when contracts for difference (CFD) trading - one of its flagship offerings and main revenue driver -was hit by a regulatory crackdown.

A CFD is a form of derivative trading that allows you to speculate on the rising or falling prices of global financial markets, such as forex, indices, commodities, shares and treasuries. It carries a higher level of risk compared to conventional shares and bonds investments.

Crucially, investors do not buy shares but use derivatives to either simply mimic prices, or magnify moves through the use of leverage, as borrowed money is known.

New european rules, which came into effect in august last year, have reduced the amount CFD traders can leverage, as concern grew that big losses were being incurred by inexperienced investors. Britain's financial watchdog, the FCA is also tightening rules. These measures have trimmed CFD platforms's prospectts.

Trading 212 became the first retail broker in Britain to introduced a commission-free share dealing service in 2017.

Both challenger investment platforms have adopted this model as a carrot to tempt customers away from established rivals, such as hargreaves lansdown, interactive investor and AJ bell.

The average commission charged by five of the largest online share-dealing platforms run at £8.31 per trade, with leading brokers such as hargreaves lansdown and interactive investor charging £11.95 and £10 respectively, according to DJB research.

Commission-free sharing dealing looks set to further disrupt a market that is already experiencing a downward pressure on investment fees amid regulatory pressure.

Where can you invest?

It's worth noting that freetrade's and trading 212 respective investment universe is relatively small compared to that of more established rivals.

A total of 335 stocks, etfs and investment trusts sit on the freetrade platform. The selection comprises of 122 US stocks and 136 UK securities - including 33 investment trusts and 44 etfs. The firm expects to increase this figure on an ongoing basis.

Meanwhile, trading 212 hosts more than 1,800 investment opportunities comprising shares in companies based in the UK, the US and in some european markets, as well as etfs.

To put this into perspective, hargreaves lansdown offers 1,643 UK shares, 7,184 overseas shares, 1,170 etfs and 386 investment trusts.

Crucially, neither trading 212 or freetrade allow you to invest in investment funds or individual corporate bonds outside an ETF.

Hargreaves, meanwhile, hosts 470 corporate bonds plus 7,099 funds from the UK and abroad.

Both trading 212 and freetrade offer an isa wrapper, but neither offer a self invested personal pension.

How do these platforms make money?

Ivan ashminov, co-founder of trading 212, told this is money that actual trading costs are less than £1, so waiving trading commission does not have a detrimental effect.

The charges levied on the platform's other services should more than cover a shortfall from these costs, he added.

Things to consider before moving platform

Investors are free to move DIY investing platform and should track down the one that is best for their needs.

However, they need to be aware of fees for moving from their existing platform and from one they sign up to if they don't like it.

Investors should calculate the potential annual saving they would make by switching and a reasonable expectation of investment growth under the new platform against the cost of moving and any exit fees.

Things like customer services offered by the respective platforms may seem like a small detail but can make the world of difference.

Trading 212 adopts a 'freemium' model - like mobile games that are free to download but have in app purchases - in the hope that some customers will shell out for additional services that it develops down the line, such as robo-advice on which stocks to buy.

Customers of newcomer freetrade can only trade shares without incurring a broker charge if transacted outside an isa wrapper through it's 'basic trade' service.

Basic trade means the buys and sells are aggregated and dealt around 4pm every day.

This isn't a huge problem if you plan on holding shares for a long time, but more experienced investors often want to be able to trade instantly at a set price.

Free trades are never quite free

There is no such thing as a free trade. Period.

This is because of a concept called the bid-offer spread, which is essentially the gap between the highest price a buyer is willing to pay you for shares and the lowest price a seller is willing to sell them to you for.

You will pay closer to the higher price to purchase a share and sell nearer the lower price.

The size of the gap depends on how liquid a share is, ie how easy it is to buy and sell, and larger companies therefore tend to have tighter spreads.

These prices are different to the mid-price, which is the one you will generally see quoted in market reports and headline share data.

At the time of publication, shares in tesco were trading at 234.05p, however, the offer was 234.1 and the bid was 234p. The spread here is 0.04 per cent. Another cost in buying shares is stamp duty charged at 0.5 per cent.

When buying a foreign stock, you'll also have factor in the cost of the converting currency. Trading 212 passes on the charge at the spot rate. Whereas freetrade charges spot rate plus 0.45 per cent on these transactions.

Freetrade was founded back in 2015 but officially launched its commission-free share dealing app in September 2018.

Will commission-free trading free trade last?

That's dependent on whether the model can pull enough people for these companies to make money off other things they charge for.

At some point, the platform's respective financial backers will want some return on their investment, and zero commission trading removes a major source of revenue.

Commission-free share trading is novel, but eventually investors might crave a more expansive investment universe, with access to more shares, funds and investment trusts.

So the main challenge for these platforms in future may be to keep hold of the customers they've lured in through the zero-commission share trading service by adding new features that complement their evolution as investors.

Both trading 212 and freetrade are legitimate digital stockbrokers, authorised and regulated by the FCA.

If either platforms ever go under, your investments are covered by up to £85,000 (up from £50,000 as of 1 april) under the financial services compensation scheme safety net.

The saying 'there's no such thing as a free lunch' certainly applies here. While basic share dealing services are free any bells and whistles cost more and there is the spread and tax to take into account.

Also, free trading may tempt you to change your investment style and invest more frequently than necessary. Doing so can increase internal costs and potentially hinder your long-term returns.

When weighing up the right platform to invest for you, it's important to look at the service that it offers, along with administration charges and dealing fees, plus any other extra costs.

DIY INVESTING CHARGES SNAPSHOT

provider	admin charge	charges notes	fund dealing	standard share, investment trusts, ETF dealing	regular investing	dividend reinvestment
trading 212	n/a	-	n/a	free (investment trust trades unavailable)	n/a	n/a	more details
freetrade	n/a	-	n/a	free	n/a	n/a	more details
hargreaves lansdown	0.45%	capped at £45 a year for shares, trusts, etfs	free	£11.95	£1.50	1% (£1 min, £10 max)	more details
barclays direct investing*	0.2% on funds, 0.1% on other investments	min monthly fee £4, max £125	£3	£6	£1	free	more details
share centre	£57.60	-	1% £7.50 min	1% £7.50 min	0.5%, min £1	0.5%, min £1	more details

Trading 212

Trading 212, which was founded in bulgaria 16 years ago, has operated an online commodities and currency trading platform in the UK for five years. The firm became the first retail broker in britain to introduced a commission-free share dealing service in 2017.

The service, now called, trading 212 invest, provides access to stocks and etfs across the world’s leading stock exchanges and currencies, including cryptocurrencies, like bitcoin, and commodities.

Trading 212 doesn't levy an administration fees on trades, the only costs to be aware of are the bid-ask spread and the foreign exchange spot price when trading shares overseas. Money held in an isa incurs no additional charge.

Freetrade

Freetrade was founded back in 2015 by adam dodds, a former KPMG manager, but officially launched its commission-free share dealing app in september 2018.

In order to offer fee-free trading, freetrade got an FCA licence and joined the london stock exchange in order to processes its own 'basic' orders in bulk each day at 4pm.

The online broker does not levy for trades that are aggregated and dealt around 4pm every day. UK and US shares cost £1 to trade instantly and a foreign exchange charge which comprises of the spot rate (the price quoted for immediate settlement on a commodity, a security or a currency) plus 0.45 per cent.

Isas are currently free until july 2019 but will cost users £3 a month thereafter. Transferring money out of either an isa or general account into a bank account cost £5 a pop. The bid-ask spread costs also apply.

Coming soon? Etoro and revolut

Etoro could be the next the latest investment platform to launch a commission-free share dealing platform.

Users will be able to trade 1,340 shares that sit on the platform without incurring a broker fee. A spokesman for the firm said the service will land before the end of summer and it won't cap users' amount of free trading.

Digital-only bank revolut is also building a commission-free trading platform on its app, its latest bid to use technology to undercut traditional financial services.

Revolut said users will be able to buy and sell listed stocks in seconds, without paying commission. The firm said the product would generate income from premium subscriptions, which will give perks to paying customers, as well as margin trading, securities lending and interest on cash held. No release date has been given.

Online trading courses

Develop the skills of trading – from first steps to advanced strategies – with our interactive courses. Learn at your own pace, checking your understanding with practical exercises and quizzes.

Introducing the financial markets

Take a tour of the financial markets. Discover how they operate, what drives them and how you can capitalize on their movements.

How does trading work?

Find out about the people and organisations who make the trading world tick, and discover the mechanisms behind market prices.

Orders, execution and leverage

Get an understanding of the steps involved in placing a trade, including how to protect yourself against risk and use leverage wisely.

Planning and risk management

Learn how to create a plan that will help you achieve your trading goals, and discover tools you can use to manage risk.

The basics of technical analysis

Discover how to find potential trading opportunities by analysing market patterns or trends using technical indicators.

Trading psychology

Prepare yourself to handle the emotions you’ll experience while trading. Learn to keep a cool head and avoid common mistakes.

How spread betting and CFD trading work

Find out why people choose these two alternatives to traditional trading. See how they work and learn whether they’re right for you.

Fundamental analysis

Learn how to identify stocks with potential by analysing economic factors and scrutinising company details.

Choosing a market to spread bet on

Explore the spread betting markets, learn how they differ from their underlying equivalents and discover their unique advantages.

Understanding risk and reward

Discover five simple rules to help you manage risk and maximise the long-term profitability of your trading.

7 best free stock trading platforms

Thanks to the rise of fintech, investors now have the option to buy and sell stocks online or through mobile apps - and often free of charge.

There are dozens of trading apps and platforms that allow investors to invest cash in a variety of securities with minimal to no fees. With the increase in choices, here are the best free stock-trading platforms and how they compare.

7 best free stock trading platforms

Whether you're a beginner investor or have been playing the market since before the last recession, free stock trading platforms and apps provide a great opportunity to maximize your returns and keep trading easy and simple.

These investment platforms are top-notch.

1. E*TRADE

Although E*TRADE (ETFC) - get report accounts aren't always free, there are some promotions and accounts that allow investors to invest for free. Currently, E*TRADE is having a promotion when you open a new account. The promotion offers 60 days of commission-free trading for up to 500 trades with a minimum deposit of $10,000 or more.

The site offers 24/7 customer service, easy mobile trading, data and research information, and has trading vehicles that range from etfs to options. And while E*TRADE's commissions usually hit just under the $7 mark for normal (nonpromotional) trades, the site is still very popular for its ease of use and retirement services.

2. Robinhood

The free stock trading app has seen a meteoric rise in popularity in recent years, accumulating 6 million users in 2019 - and with good reason. Robinhood seems to be the darling of commission-free trading - as a fintech startup founded by baiju bhatt and vlad tenev in 2013 with their free stock trading model.

Although there has been some speculation over how robinhood makes money (given their free trading model), the app is very popular for its easy, free trading and variety of investment vehicles - including options and even cryptocurrency.

To get started, you simply have to submit an application to robinhood and meet a few basic requirements (although if you are planning to participate in options trading, additional requirements are necessary) - with no account minimum. As a bonus, there are no maintenance fees.

As somewhat of a drawback, robinhood doesn't currently allow fractional investing (you can only buy whole shares). But for its cost-efficiency and easily-accessible app format, robinhood is clearly a crowd favorite for a reason.

3. Charles schwab

Ideal for investors looking to get into etfs, charles schwab (SCHW) - get report has an impressive array of 200 etfs to choose from, all commission-free. And, as a bank and stockbroker all-in-one, the schwab app is a great one-stop-shop for investors.

Schwab also has no-transaction-fee mutual funds, with around 4,000 available. Their regular trades will set you back around $5 apiece. There is no minimum balance requirement (although normal accounts typically come with a $1,000 minimum).

Because of their wide selection of the commission-free etfs and mutual funds, schwab is a strong contender for free stock trading.

4. Acorns

If you're a beginner investor looking to make money in stocks, acorns is the perfect introductory stock trading app.

Acorns specializes in micro-investing - that is, investing your spare change in stocks. There is no minimum to create an account, but there is a $5 minimum to start investing.

The app takes the spare change you've got from linked debit or credit cards to invest in commission-free etfs. There are no fees for inactivity.

5. Vanguard

Boasting around 1,800 commission-free etfs (just shy of robinhood's 2,000,) vanguard offers a wide selection of free trading options. The platform offers over 3,000 transaction-free mutual funds to boot - including S&P 500 index funds.

The trading platform doesn't have a minimum account requirement, but they do charge $20 a year for a service fee.

6. TD ameritrade

Much like E*TRADE, TD ameritrade (AMTD) - get report offers a free trading promotional if you open an account. You can get up to 60 days of commission-free trading for options, etfs and other equities, as well as up to $600 if you deposit $3,000 or more.

And even when the 60 days runs out, trades average about $6.95 a trade - on par with several other competitors. But TD ameritrade also offers over 300 commission-free etfs, and hundreds of transaction-fee-free mutual funds to choose from.

As one of the biggest online trading platforms, TD ameritrade offers a variety of top-notch services including research, data, and information on stocks as well as cash management, among others.

7. M1 finance

M1 finance does things a bit differently (think: customization.)

In addition to being completely commission-free and fee-free, M1 finance allows investors to invest in fractional shares as small as one penny. And, what makes M1 finance different is it allows users to create "pies" - that is, pie graphs that are comprised of a variety of etfs, stocks, and bonds. The app also allows users to choose different kinds of pies based on their investment needs and risk tolerance.

Although there is a $100 minimum for investing, the app allows for total customization of your own portfolio, and offers different kinds of "pies" from moderate to "ultra-aggressive" or "market cap 100."

For a completely free, zero-commission stock trading app, M1 finance seems to offer a pretty good deal for the DIY investor.

The bottom line

So, which free stock trading platform is best for you?

While some platforms like TD ameritrade and E*TRADE only offer short-term free stock trading services through promotions or new accounts, they do offer some industry-leading services that may be worth the extra cost you'll incur when your trial run ends.

However, for the investor who wants a truly free stock trading experience, robinhood, acorns and M1 finance offer a formidable range of services and offerings - even including cryptocurrency and options. And, as trading is increasingly becoming mobile, these app-focused companies are optimized to provide a solid, easy-to-use trading experience from the comfort of your ios or android-enabled device.

Still, as always, it is important to examine your personal investment goals and be realistic about how much you are willing to pay for extra services (if you do opt for one of the bigger brokerage names). But thanks to the surge of fintech companies in recent years, there are plenty of investment options that offer free stock trading services that can help grow your returns - all with the touch of a button.

Software

Day trading software is the general name for any software that helps you analyse, decide on, and make a trade. It may grant you access to all the technical analysis and indicator tools and resources you need. The best software may also identify trades and even automate or execute them in line with your strategy.

Whether you’re after trading software for beginners, or as an advanced trader, with more options than ever before, doing your research has never been so important.

What you need to know

Firstly, you’ll find out precisely how these software packages work.

This page will then highlight what to look for from your broker’s software offering, whilst breaking down forex software, stocks software, and others in detail.

It will also touch upon software demo accounts, equipment and the regional differences to be aware of.

Best trading software 2021

How trading software works

Online day trading software can be broken down into four categories:

Data – before you start trading for the day you need to know the prices of the stocks, futures and/or currencies you want to trade. For stocks and futures, those prices will usually come from the exchange where they are traded. Forex, however, doesn’t have a central exchange.

Charting – smart traders will usually chart prices in charting software. Many vendors will also offer data feeds. These charting packages usually offer basic technical analysis indicators. Opt for a more advanced package and you can benefit from more indicators and the ability to backtest your strategies.

Trade execution – with your data to hand and after analysing it on a chart, at some point you’ll want to enter a trade. For that, you’ll need some sort of trade execution software, an electronic trading platform. A lot of software today will also allow you to develop your own trading strategies with an application programming interface (API). They may also offer you automated trading capabilities specifically for day trading.

Broker vs independent vendor – A lot of brokers will offer software directly linked to their in-house systems, but you can also use third-party applications through independent software vendors with brokers that support such integration. The benefit of third-party solutions is that they often have more advanced features and enable you to trade with several different brokers with one single interface.

Tools

Mac or windows?

When choosing your software you need something that works seamlessly with your desktop or laptop. Any crashes or technical issues could cost you serious profit.

Fortunately, the day trader is no longer constrained to windows computers, recent years have seen a surge in the popularity of day trading software for mac.

Metatrader4, for example, is the worlds most popular trading platform. It’s user-friendly, so combined with an easy to navigate mac, it’s ideal for both beginners and veterans.

But whether you’re looking for the best trading software for mac or windows, check reviews to ensure the technical tools, data feeds, portfolio trackers, backtesting capabilities and any other features you require won’t run into compatibility hurdles.

In addition, make sure the initial trading software download is free. Reputable brokers shouldn’t charge you for the installation privilege.

Mobile day trading software

You can also get extremely useful mobile trading software, normally in the form of an app on ios and android. These aren’t designed to replace desktop applications as they lack in the capabilities area.

They are best used to supplement your normal trading software.

A key point…

Make sure when choosing your software that the mobile app comes free.

A good app will provide succinct market updates, trends and the usual stock price tickers. If the app overloads you with information that pushes you towards impulsive decisions, stay clear.

What to look for

Brokers will often offer standard software, but if you want additional features that may be essential for your strategies then you may have to pay significantly more.

So conduct a thorough software comparison before you start trading with your hard earned capital.

Cost & need

Does it meet your needs? – there is no one size fits all. Different trading software will suit different people. Are you following a simple stocks strategy such as moving average tracking? Alternatively, do you want to employ a more complicated multi-conditional strategy? Will you need a direct forex feed? To make sure it caters for your needs get a free software download trial and practice day trading on it first.

Cost – how much does day trading software cost? It’s all too easy to opt for the cheapest trading software. Whilst this may save you money in the short term, you may be sacrificing essential features your strategy requires. Adding these features later may cost you even more than if you’d invested in a comprehensive software to start with. Also, check to see if the software is available as part of the standard brokerage account, or does it come at an additional cost?

Technology

Execution speed – time is money and nowhere is that truer than in the day trading world. Ensure your software will allow you to enter and exit trades swiftly. Check reviews for any trade execution red flags. A few seconds could be the difference finishing being in the red or black at the end of the day.

Accessibility – is it a web based software offering? If so, you’ll need just an internet connection to get online, plus you’ll have zero installation, update and maintenance costs. Web based trading software is the best option for beginners. However, if you employ extremely complex algorithms, you may need a computer based installable software. Bear in mind this will be a far more expensive route to go down.

Features – day traders rely on short term price movements to turn a profit. What does your strategy need to monitor these price fluctuations? Will you need charts, particular data feeds, news sources, specific market access? If so, check whether these will be included as standard.

Analytics – does your strategy depend on technical indicators and pattern recognition? Will the software recognise arbitrage opportunities? A comprehensive analysis software will provide you with all the analytical features you need in one user-friendly bundle.

Forex trading software

Which is the best forex trading software available on today’s market? With hundreds to choose from, finding the right software for your needs isn’t a straightforward decision.

The first question to ask would be ‘what information, resources and tools do you need to enhance your forex strategy?’

Below are some of the most popular currency trading software available:

Trading platforms – these enable you to manually manage and execute forex trades.

Trading signal generators – these will provide you with recommended levels for which to enter and exit positions.

Technical analysis software – these will offer you charts of historical exchanges rates, plus a wide range of technical indicators.

Automated forex trading software – once you’ve pre-programmed your rules and strategy, these programmes will automatically execute trades on your behalf.

Stocks trading software

With today’s volatile market trends, picking the right stock trading software is essential. It is often said that there are very few stocks worth trading each day.

That means identifying them before they make their big move will be what separates the profitable traders and the rest.

Before you purchase, always check the trading software reviews first.

In addition, look for the following capabilities from your software:

Market scanning – the programme should scan the market for potential opportunities and swiftly draw your attention to stocks of interest.

Charting software – these will help you decipher market conditions, so look for software that keeps their charts user friendly, or even offers customisability options.

Portfolio tracking – this will help you keep a close track of all previous trades, helping you to identify mistakes and hone your strategy.

Backtesting– the software should enable you to backtest your trading systems against historical data, giving you an idea of whether and how successful your strategy will be, before you risk real capital.

Other instruments & markets

On top of the software for the instruments above, you can also get your hands on the following:

Commodity trading software – there’s a rich supply of international trading software for the commodities markets. Plus, you can get your hands on some of the best free online trading and charting software around.

Bitcoin day trading software – as the market is still growing, there are new options popping up every month. You’ll also find some of the best trading simulator software, that’s probably free.

Emini trading software – emini options continue to grow, so you can choose between generic systems, or specialist emini software. You’ll also find lots of good scalping software options, with plenty of reviews on software forums.

Penny stocks software – there is healthy competition, so if you’re looking at where to buy the best trading software for penny stocks, a quick google will answer all your prayers in abundance. You can also find easy to use buy and sell signal software for penny stocks.

Software for NSE – you can find free trading software for indian markets, or you can choose from the ever growing options.

Software for cryptocurrency – you can choose between robot, prediction software, or you can find plenty of manual options. You can also now get your hands on useful virtual money management software to keep your online wallet heavy.

Journal software

Day trading journal software allows you to keep online log books. Why would you want that? Because they keep a detailed account of all your previous trades.

They record the instrument, date, price, entry, and exit points. This allows you to not only fill in your tax returns with ease, but also to analyse your recent trade performance.

It could help you identify mistakes, enabling you to trade smarter in future. This makes it some of the most important intraday trading software available.

Popular software

Make sure when you compare software, you check the reviews first. Even the ones that proclaim to be one of the ‘top 10 day trading software’, can have some serious drawbacks.

Also bear in mind, the easiest trading software won’t necessarily be the best. If it’s easy because it falls short of the essentials outlined above, your bottom line may suffer.

Having said that, consider the popular and well regarded options below:

Metatrader – market leading multi-functional trading platform. Integrated with many leading brokers.

Tradingview – the leading charting package with a wealth of technical analysis tools and the ability to build and back test strategies. Can also automate trades, and copy trade.

Linux software – considered some of the fastest real time trading software around.

JSE software – considered one of the best futures day trading software available.

MCX analysis software – one of tim sykes highly recommended trading software systems.

TD ameritrade – some of the best live and virtual day trading software available, scoring particularly high in US reviews.

Etrade software – nifty trading software, that’s fast, reliable and used by traders of all levels.

Consors software – this german software offers some of the best trading simulation software for free.

Algotrader – this is ideal if you’re looking for customisable, open source software to implement automated strategies.

Ninjatrader – allows developers to build their own integrated indicators.

Zulutrade – automate trades or copy trading signals or traders. Popular in the US.

Etoro – leading social trading network. Copy profitable traders – or become a ‘leader’ and earn when other traders follow your trades.

Software strategies

Choosing the right software is a hugely important decision, but part of that decision comes with ensuring that it works harmoniously with your day trading strategies.

If you’re trading forex using a simple price action strategy, then you may have everything you need with your broker’s standard program software.

Tools such as tradingview can also help you build and back test strategies, including using your own code if desired.

However, if you have a complex strategy you may need software that has all the indicators and technical tools at a few clicks notice, to ensure you make fast and accurate decisions.

Your strategy needs are likely to be greater and you may require optional advanced features that are often expensive.

Demo accounts

If you want to test a specific software before committing to it, the best way to do it is a “demo account”.

What’s the story?…

A demo account is a form of practice account where you trade for free with “play money” using the real software and its features.

It’s a great way to trial softwares, strategies and your own skills and is something we highly recommend. We list all trading demo accounts here.

Regional impact

Tailored for specific markets

The best trading software for australia and canada, may fall short of the mark in indian and south african markets.

This is simply because the software in india can be extremely different to australian softwares.

Spider software, for example, provides technical analysis software specifically for indian markets.

But if you want to trade stocks in the west, you may find that software from far afield won’t give you all the access to data feeds and news resources you need to successfully trade.

There’s also the question of cost. You can get plenty of free charting software for indian markets, but the same powerful and comprehensive software in the UK, europe, and the US can often come with a hefty price tag.

So, make sure your software comparison takes into account location and price.

Tax considerations

The same principle applies to day trading tax software. The accounting software needs to be able to accurately calculate how much tax is payable to your country’s specific body, the IRS for example.

Apart from wasting your time, any tax errors will fall on your lap, as will any fines.

Final word on location

If you’re british, do your homework and find out what the best trading software specifically for the UK is. If you’re canadian, check you won’t encounter any tax problems if you invest in accounting software from south africa. Location is important.

Take home points

It’s worth bearing in mind that your choice of broker can restrict the tools available to you.

Free day trading software may seem like a no brainer to start with, but if it comes with the sacrifice of technical tools that could enhance trade decisions then it may cost you in the long run.

Remember the best day trading software for forex may not cut the mustard when you use it for stocks, so do your research and consider all the factors outlined above.

Most importantly, you wouldn’t buy a car without test driving it first, and your day trading software shouldn’t be any different.

Tax-free allowances on property and trading income

Find out about annual tax-free allowances for property or trading income and if you qualify.

You can get up to £1,000 each tax year in tax-free allowances for property or trading income from 6 april 2017. If you have both types of income, you’ll get a £1,000 allowance for each.

If your annual gross property income is £1,000 or less, from one or more property businesses you will not have to tell HMRC or declare this income on a tax return. You may be required to complete a tax return for other income.

If your annual gross trading income is £1,000 or less, from one or more trades you may not have to tell HMRC , however there are circumstances when you must register for self assessment and declare your income on a tax return.

You must keep records of this income. This is known as ‘full relief’.

If your annual gross trading or property income, from one or more trades or businesses is more than £1,000 you can use the tax-free allowances, instead of deducting any expenses or other allowances.

If you use the allowances you can deduct up to £1,000, but not more than the amount of your income. This is known as ‘partial relief’.

If your expenses are more than your income it may be beneficial to claim expenses instead of the allowances.

Gross income means the total amount you would put on your tax return before any allowances or expenses are taken off. This applies whether you use the cash basis or traditional accounting.

There may be circumstances where you choose to complete a tax return even if your income is £1,000 or less.

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Trading allowance

The trading allowance is a tax exemption of up to £1,000 a year for individuals with trading income from:

Self-employment

Casual services, for example, babysitting or gardening (helpsheet 325 has more information about other taxable income)

Hiring personal equipment, for example, power tools

If your annual gross income from these is £1,000 or less, you do not need to tell HMRC , unless:

Gross trading income over £1,000 - register for self assessment

Other gross income over £1,000 up to £2,500 - contact HMRC

Other income over £2,500 - register for self assessment

This allowance does not apply to trading income from a partnership.

Property allowance

The property allowance is a tax exemption of up to £1,000 a year for individuals with income from land or property.

If you own a property jointly with others, you’re each eligible for the £1,000 allowance against your share of the gross rental income.

If your annual gross property income is £1,000 or less, you will not need to tell HMRC , unless you cannot use the allowances. If it’s higher, you’ll need to declare your property income.

You cannot deduct more than the amount of your income and create a loss.

Gross property income over £1,000 up to £2,500 - contact HMRC

Property income over £2,500 - register for self assessment

If you have two businesses and claim the property allowance in one business you may not claim actual expenses in respect of the other business.

You cannot use this allowance on income from letting a room in your own home under the rent a room scheme.

When you cannot use the allowances

You cannot use the allowances in a tax year, if you have any trade or property income from:

A company you or someone connected to you owns or controls

A partnership where you or someone connected to you are partners

Your employer or the employer of your spouse or civil partner

You cannot use the property allowance if you:

Claim the tax reducer for finance costs such as mortgage interest for a residential property

Deduct expenses from income from letting a room in your own home instead of using the rent a room scheme

Self-employed

If you’re starting a new self-employed business and expect your annual gross income to be no more than £1,000, you may not have to register for self assessment but can voluntarily if your gross income for 2018 to 2019 will go above £1,000 and you want to be in self assessment.

You must register for self assessment and declare your income on a tax return when:

You’ve made a loss and want to claim relief on a tax return (check helpsheet 227 for more information about losses)

You want to pay voluntary class 2 national insurance contributions to help qualify for some benefits

You want to claim tax free childcare for childcare costs based on your self employment income

You want to claim maternity allowance, based on your self-employment

You can still use the trading allowance but you’ll need to complete a self assessment return using the guidance that helps you fill out the tax return.

If your gross income for a tax year is more than £1,000, you must register for self assessment by 5 october in the following tax year. If you’re already registered for self assessment, you can use the allowances by deducting them from your gross property or trading income on your tax return. You cannot deduct any other expenses or allowances if you claim the allowances.

Records to keep

If you use the trading or property income allowances you must keep a record of your income.

Examples of the records you may need to keep are:

Copies of your invoices, paper or electronic

A spreadsheet of your income receipts

Emails confirming income received

Statements from the company who paid you which show the amount you received

Bank statements

Bank deposit pay-in records

A diary or appointments book showing your income from each customer

Benefits and credits

You may need to calculate your income to work out what benefits you’re entitled to.

If you calculate your taxable profits by deducting the trading allowance instead of actual expenses incurred then your income will be reduced by the allowances, for:

Tax credits

High income child benefit charge

Student loan repayment

Married couples allowances

Income for universal credit purposes is not affected by the allowances.

Contact HMRC

You’re not sure you can use property or trading allowances

If you’re not in self-assessment and have already paid tax through your PAYE tax code on some of your property income or income from providing casual services as you may be due a refund of the tax paid

Update added with what should be done when you do not need to complete a tax return.

Updated to clarify the trading and property allowances and who qualifies.

Trading for beginners

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Beginner's trading guides

Our trading for beginners section gives you all the information you need to start trading forex and cfds with confidence. This should be your first stop to find out about currency pairs, how the forex market works, market analysis and CFD instruments.

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Paper trading also known as demo account trading allows traders new to the forex market and cfds the ability to trade for free on a practice account before trading for real. By building up skills and acquiring trading confidence 'paper trading', plays an invaluable role in a trader's education.

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Quantitative trading is known to implement advanced modern technologies on huge databases so as to provide comprehensive analyses of the opportunities present in the market. It uses sophisticated mathematical and statistical models and computation to identify profitable opportunities in the financial markets. For quantitative traders, price and volume are the most important variables, and the bigger the dataset, the better.

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Price action is simply the study of price movement in the market. Various fundamental and technical analysis tools derive their values from price, so why not study, analyse and learn from the price itself? This is what price action traders attempt to do. Learn about their methods here

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Leverage trading, also known as margin trading, describes the process that allows the trader to open positions investing only a fraction of the position price, while borrowing funds from the broker to cover the rest. Leverage is expressed as a ratio between total position worth and trader's investment (i.E. ) while margin appears as a percentage if the entire position worth that the trader invests (0.5% for the same case). Leverage trading can boost trader's profits, but simultaneously increases the associated risks.

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Short selling refers to a process of borrowing an asset from your broker and selling it during bearish market conditions, then buying it back at trend reversal and returning back to the broker, while pocketing the price difference as profits. Click the link for further information and a trade example.

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Financial market volatility is defined as the rate at which the price of an asset rises, or falls, given a particular set of returns. It is often measured by looking at the standard deviation of annual returns over a set period of time.

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At its most basic, arbitrage can be defined as the concurrent purchase and sale of similar assets in different markets in order to take advantage of price differentials.

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In the world of financial trading, asset correlation establishes how and when the prices of different financial instruments move in relation to each other. With regards to currencies and forex trading, correlation is the behaviour that certain currency pairs exhibit where they either move in one direction or in different directions, simultaneously

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In financial trading, slippage is a term that refers to the difference between a trade’s expected price and the actual price at which the trade is executed.

What is a market cycle?

While asset prices may appear to move randomly up and down, technical analysis shows that there are distinct repetitive cycles that occur.Ese are predominantly driven by the market moves made by large institutional investors, and in order to trade successfully, individual traders should watch these market moves, or market cycles, closely.

What types of traders are there?

The multifaceted world of financial markets offers numerous opportunities to make money by buying or selling financial assets online. Different traders use diverse strategies to pick out lucrative opportunities in the market. It is important to understand the various trading styles to determine which strategy is best suited for your trading goals.

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The liquidity definition refers to the extent to which a particular asset can be bought or sold quickly on the market without having a significant effect on its price. Liquidity is an important factor that investors assess when making their trading decisions since it has an effect on their trades.

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Forex signals came about as a natural innovation of the financial industry. They basically solve the most daunting activity any trader has to perform – to identify the right trading opportunities at the right time.

What is economic policy

As a country’s top administrative body, the government is responsible for cultivating the economy and deciding on how to handle the money-related economic operations. A government’s economic operations include the management of national revenue, national expenditure, and public investments as well as the facilitation and regulation of employment, business, financing, investments in the private markets.

What is consumer price index (CPI)

Consumer price index (CPI) is the main economic indicator that is used to track the inflation rate and the cost of living in a country. It comprises a basket of goods and services and calculates the basket price as a weighted average of the constituent items' retail prices.

What is gross domestic product (GDP)

Gross domestic product (GDP) is the total value of goods and services produced in a country. It is calculated periodically, usually on a quarterly or yearly basis, to measure how the economic value of the local production activities is changing over time.

What is balance of trade (bot)

The balance of trade (bot) is the difference between the total value of exports and the total value of imports of a country within a time period. It is also referred to as trade balance, commercial balance or net exports (NX). The balance of trade shows whether the country had achieved to sell locally produced goods and services to foreign countries (export) more than it bought products from abroad (import) in the focused period.

What are interest rates

Interest rates are the main tools of the central banks to control the national economy. The primary goal is to facilitate optimum economic conditions in accordance with the monetary policy goals.

What is the unemployment rate

The unemployment rate is the percentage of the unemployed in the total workforce of a country. The total workforce is comprised of three categories: payroll- or contract-based employees, self-employed, and unemployed. People who are not employed but also ineligible to work (e.G., children and elders) are excluded from the workforce count.

What are building permits?

Analysts use the building permits data in conjunction with other prominent housing market indicators such as housing starts, construction spending, new home sales, and existing home sales. A harmonised analysis allows drawing conclusions on the growth or stagnation of the housing market. These indicators can then be used in fundamental analysis of long-term sentiment.

What corporate profits

As the private sector represents a significant portion of a country’s economic production and employment, its well being is vital for the national economy. Thus, the economic bodies track the private sector performance closely and make sure corporate profits are growing to enable further expansion.

What is currency strength?

A currency’s strength is determined by the interaction of a variety of local and international factors such as the demand and supply in the foreign exchange markets; the interest rates of the central bank; the inflation and growth in the domestic economy; and the country’s balance of trade.

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Learn how to trade forex online. Avatrade have all the basics covered as well as a step-by-step trading guide for beginner traders.

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Learn about the different types of price charts - line, bar and candlesticks charts to better understand the information represented in this form. Assess market conditions such as buying/selling pressure, highs and lows of the price during the given time frame directly by analysing the graphs. Get to know important graphical analysis patterns and their meaning to become a better trader.

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How to trade stocks?

The rise in popularity of online CFD trading has made it simpler and more convenient to trade the rise and fall of major global companies, such as apple, google and alibaba. In this section you can read an overview of how CFD share trading works and learn more about the factors to consider when trading stocks.

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Avatrade provides its clients with a range of trading platforms, proprietary and third party. Read the review and features of the available trading platforms in order to choose the best forex trading platform for your needs. Compare the industry standard metatrader 4 vs. Other platforms available at avatrade. Learn the features of other manual and automated trading solutions available to our clients, including zulutrade, duplitrade etc.

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In this section we go a little deeper into how different currencies interact together in currency pairs – the basis of forex trading. You’ll also learn about the difference between major, minor and exotic currency pairs.

Technical analysis

Technical analysis is an important factor in making smart trading decisions, whether you’re trading forex, commodities, stocks or indices. Find out more about the tools and techniques you need to understand and analyse live charts so that you stand the best possible chance of succeeding in the markets.

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Derivatives trading

Find out what derivatives are and how they could be useful to you in trading, how their value is determined by various market fluctuations in the underlying assets. Learn all about the most common derivatives, including futures, forwards, options, cfds and swaps.

Money management

Knowing how to manage your money especially on the forex markets is, possibly, the very first discipline to learn before entering the markets. Here you can find valuable information on the basic terms and illustration of how to best manage your capital.

Trading psychology

Fear, greed, hope and regret are normal human emotions, but they can seriously impact the performance of a trader. Read about the psychological aspects of trading, learn to identify and manage the emotions that can influence your decisions and develop a winning trader’s mindset.

Trading budget

How much money do you need to start trading? What are the risks of being undercapitalized and how to avoid them? What’s the proper leverage based on your available balance? How to avoid a margin call and properly size your positions? Read our guide to find answers to these questions.

Contango

Contango is assumed when the forward curve is rising relative to the spot price. In other words, the asset is deemed to be worth more in the future and the convergence of the forward curve towards the expected spot price will be downward sloping. The spot price and the futures price must always converge for reasons that you're about to see.

Drawdowns

Drawdown is measured over a specific period in time, between two dates. The formula for calculating drawdown is as follows:drawdown (DD) = min(0,((pt – pmax)/(pmax)). This precise definition of a drawdown in trading is necessary because a trough cannot be defined until a new peak is reached, or the portfolio returns to its original high value. In simple terms, drawdowns are expressed as a percentage.

European central bank (ECB)

The european central bank (ECB) is the top monetary institution in the european union (EU), governing the euro currency (EUR) and the monetary and financial affairs in the region. It was established on june 1, 1998, as one of the seven EU institutions which were agreed upon in the treaty of amsterdam.

Federal reserve system (FRS)

The U.S. Federal reserve system (FRS), also called the federal reserve or simply the fed is the central bank of the united states of america. It was established to provide a flexible, secure, and steady system for national monetary and financial affairs.

Bank of england (BOE)

The bank of england (boe) is the united kingdom’s central bank and serves the U.K. Government as the official banking institution for monetary affairs. As the top monetary and financial authority in the united kingdom, the bank of england assumes the role of guarding the wellbeing of the british economy as well as the financial system.

Income and wages in trading

Consumption is what makes production worthwhile in the modern economy. And people can consume only if they have the financial power. Considering that most people rely on employment to make a living, income and wage reports emerge as fundamental measures to gauge the purchasing power of the citizens of a country.

Central banks meetings

Central bank meetings are periodic gatherings of a central bank’s monetary policy committee (MPC). The members evaluate the effectiveness of the existing monetary policies for the current economic climate.

Bank of japan (boj)

The bank of japan (boj) is japan’s central bank and the country’s highest monetary authority. The bank is headquartered in nihonbashi, the business district of chūō, tokyo. It was established under the 1882 bank of japan act and began operating on october 10, 1882, before issuing its first currency notes in 1885.

The reserve bank of australia (RBA)

The reserve bank of australia (RBA) is the central bank of australia, whose express function is to support and enhance the economic and financial stability of the country. RBA derives its mandate from the reserve bank act of 1959 that granted the bank powers to contribute to the stability of the australian dollar, to achieve full employment and to drive economic prosperity.

The people’s bank of china (PBOC)

The people’s bank of china (PBOC) is the central bank of the people’s republic of china. Like other central banks, the PBOC has the dual mandate of fostering financial stability and enhancing economic prosperity in china. The bank has undergone a series of reforms and now enjoys a great deal of autonomy by chinese standards.

The reserve bank of new zealand (RBNZ)

The reserve bank of new zealand, also referred to as the RBNZ, is one of the leading apex banks in the world. It is the central bank of new zealand, and it was created by the new zealand government with the purpose of maintaining the stability of the country’s financial system.

The swiss national bank (SNB)

The swiss national bank (SNB) is the central bank of switzerland, and it has the responsibility to formulate the country’s monetary policy as well as administer swiss franc banknotes. Read on how to use it's announcements in fundamental analysis.

The bank of canada (boc)

The canadian central bank was founded in 1934, and it is responsible for promoting a safe and sound financial system within canada as well as for formulating the monetary policy of the country.

South africa reserve bank (SARB)

The south africa reserve bank (SARB) is the central bank of the republic of south africa. The bank has a responsibility to maintain price stability, which, in turn, cultivates and supports balanced, sustainable economic prosperity for the people of south africa. Learn how to use it in fundamental analysis.

How to spot forex scams

As long as the lucrative forex market exists, forex scams will always exist. It is therefore prudent for investors to be able to identify and avoid forex scams in the various forms they come in. We've gathered examples of most common FX scams for you to stay safe.

What is quantitative trading (quant)

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Trading signals are actionable ‘buy’ and ‘sell’ suggestions for UK traders, based on emerging chart patterns and key levels being met. You can see signals for a huge range of markets in our platform, and use them to help you decide how to trade. 1

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Forex signals

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Trading signals are a great way to have chart patterns, which can constitute ‘buy’ and ‘sell’ opportunities, recognised and analysed automatically – taking some legwork out of your analysis. They’re a useful part of your broader analysis toolkit. However, you act on them entirely at your own risk – they’re never a sure thing.

Our signals come directly from two third-party providers – autochartist and PIA-first.

You can get signals on your mobile devices with the IG trading app, and on desktop with the IG trading platform.

You’d set a trading alert to notify you of the economic releases, price changes or a chart meeting your technical conditions (which might be a signal in itself). Our trading signals inform you of significant trends or patterns in the markets that could lead to a trading opportunity.

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1 our signal service does not constitute and shouldn’t be regarded as investment advice. We provide an execution-only service. You act on signals entirely at your own risk.
2 awarded ‘best finance app’ and ‘best multi-platform provider’ at the ADVFN international financial awards 2020.

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Spread bets and cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading spread bets and cfds with this provider. You should consider whether you understand how spread bets and cfds work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk.

The value of shares, etfs and etcs bought through a share dealing account, a stocks and shares ISA or a SIPP can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results.

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