Spread betting and CFD trading companies seem to have appeared all over the internet in a relatively short period. Where originally there were just a handful of companies offering trading platforms, there are now dozens and whilst many are broadly similar, finding the right platform for you is vital to trading well.
The first thing that you need to be sure of is the validity of the site, any good company will be well known and should also have accreditation from various authorities, stick with one that has a good reputation.
The second thing that is important is the ability to practice with the platform before you have to trade real money. Some platforms are naturally suited to how some people trade, and if you’ve got a good one you’ll know it, if, for some reason, you don’t like the layout of a certain platform, it’s important to find out before you open an account and deposit some money.
Connected to this is the importance of being able to access all the information that you need and quickly. One of the most basic tools that you’ll need will be the charts that are inbuilt into the platform, if these aren’t good, or can’t be customised to how you like them, then the platform’s not right for you.
The next thing that you need is good training resources. Learning when to make the right trades and how to spot opportunities in the market is perhaps the most important thing when it comes to spread betting. All good companies have excellent training resources, so make sure that there’s plenty of information.
On a similar theme, as well as good training resources, you need good information on events in the market. Good platforms will have a rolling newsfeed that won’t stop no matter when you’re on the platform. They should also carry links to other good news sites that will keep you abreast of all the important events.
The final thing you should take into consideration is the size of the spread on your key markets. The smaller the spread the greater the opportunity for you to make money, so if it comes to choosing between a couple of platforms, go for the one that offers the smallest spread.