How to choose the best trading platform for beginners
Discover how to choose the best trading platform, including tips for beginners, and how to start trading CFDs on Capital.com.
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What is a trading platform?
A trading platform is a digital interface provided by brokers that enables traders to take positions on the price movements of financial instruments like shares, forex and commodities. Acting as a gateway to the financial markets, it offers tools and resources for analysing price swings, managing accounts, and executing trades across a range of markets.
Accessible via web platforms and mobile devices, trading platforms make it convenient to manage positions anytime, anywhere. Whether you’re a seasoned trader or a beginner, a quality trading platform should provide all you need to execute trading strategies effectively.
What do you want from a trading platform?
Choosing the best trading platform depends on your individual needs and preferences. Here are some factors to consider:
- User-friendly interface – an intuitive, clutter-free platform can make your trading experience smoother and more effective.
- Market access – trade your way. Find a platform that offers access to the markets and financial instruments you're interested in.
- Educational resources – boost your trading knowledge. Find a platform which provides tutorials, webinars and other materials to help you learn to trade.
- Trading tools – make smarter, better-informed trading decisions. Look for advanced charting tools, technical indicators and risk management features.
- Demo account – if you’d like to develop your trading skills and test out strategies, find a platform that provides a demo account. Fees and commissions – trading costs impact potential profitability. Consider charges and fees such as spreads, commissions or overnight funding rates.
- Fees and commissions – trading costs impact potential profitability. Consider charges and fees such as spreads, commissions or overnight funding rates.
- Customer support – responsive 24/7 support in your preferred language to assist you whether you have questions or encounter issues.
What assets can you trade on a trading platform?
Consider the types of financial products you want to trade. Trading platforms typically offer a variety of financial assets and derivatives, each catering to different trading styles and goals. This guide focuses on derivatives, particularly CFDs, which vary in nature and cater to different traders’ needs.
Financial derivatives – like contracts for difference (CFDs) – derive their value from an asset without requiring direct ownership. Traders use financial derivatives to speculate on rising and falling prices across different markets.
- CFDs (Contracts for difference) allow you to speculate on the price movements of assets like commodities, shares (stocks), indices and forex without owning the underlying asset. They offer leverage, meaning traders can choose to open larger positions with a smaller initial investment, amplifying potential profits and losses.
How to choose the best trading platform for beginners
If you’re a beginner, choosing a trading platform might seem confusing. However, choosing the best trading platform isn’t too different for seasoned traders and beginners. Often, the best brokers offer a combination of features built to suit all levels of trading skill and experience.
Here are some tips for choosing the best trading platform for beginners:
Start with a demo account
Choose a trading platform that offers a free demo account and practise trading on live market prices with virtual funds. Demo accounts allow you to experience what it's like to be a trader without risking real money, test out different trading strategies and get comfortable with the platform's features. Seasoned traders might also use a demo account to test new strategies or explore different asset classes.
Look for educational support
Before placing your first trade, learn the basics of trading. Find a platform that provides high-quality educational resources to build your knowledge. The best trading platforms offer courses, tutorials, webinars and articles that help you build confidence and grow your trading skills. This includes understanding key concepts such as risk management, different asset classes and technical analysis.
Ensure the platform is regulated and licensed
Trading with a regulated broker provides a level of protection and oversight that helps safeguard your funds and personal information.
Find a platform recommended by traders
User reviews and industry awards can provide insights into a trading platform's reliability and quality. Look for reviews on independent resources like Trustpilot, Google Play and the App Store. Recognition and awards from industry authorities, such as ForexBrokers.com – a leading forex broker review site – or Good Money Guide – a financial comparison site – may further indicate a platform’s quality and user satisfaction.
Check for robust risk management tools
Risk management tools could help you protect gains and minimise losses.* Stop-loss orders allow you to set a predetermined exit point to limit potential losses if the market moves against you. Take-profit orders enable you to lock in profits automatically when the market reaches your desired level. However, be aware that stop-loss orders are not guaranteed and may not protect against slippage in volatile market conditions.
Seek 24/7 customer support
Look for brokers that provide multiple channels of communication, such as email, phone and live chat support, 24/7, so you can ask for help whenever you need it. Multilingual support can also be beneficial if English is not your first language. Prompt and professional customer service can enhance your trading experience by resolving issues quickly and efficiently.
Choose a platform with a trading app
In today's fast-paced world, the ability to trade anytime and anywhere is essential. Find a platform with a dedicated mobile app and web platform to monitor the markets, manage your positions and execute trades on the go. The best trading apps are fast, feature-packed and offer a user-friendly interface similar to the desktop platform. Features like push notifications can alert you to market movements or updates on your trades in real time, ensuring traders never miss an opportunity.
How to start trading with us
Starting your trading journey on our trading platform is simple, user-friendly and takes just minutes. Follow these steps to begin trading CFDs on a wide range of assets.
- Register for an account
- Verify your identity
- Choose between a live account and a demo account
- Fund your account or practise with virtual funds
- Explore the platform and learn all its features
- Boost your skills with our educational resources
- Select an asset and open a position
- Implement risk management controls
- Monitor your trades
Why trade with us?
It’s time to find a reliable brokerage and set your strategy in motion. Capital.com is a multi-award-winning online CFD trading platform with an easy-to-use desktop application and mobile app. Join our community of over 750,000 traders in 183 countries and trade CFDs on 4,500+ assets including AI shares, indices, commodities and forex.
Ease of use: Find a seamless experience with the information and tools you need to make better trading decisions.
Advanced trading tools: Charts, drawing tools and helpful resources to help you analyse historical price data, volume activity and trends.
Competitive spreads and transparent pricing: Know what you're getting with a broker that’s up-front about fees and minimises costs with competitive spreads.
Risk management: Robust tools like stop-loss* and take-profit orders help reduce risk and protect your gains.
Educational resources: Guides, courses, webinars and videos to brush up on your knowledge and get up to speed.
Dedicated customer support: Talk to the team and get a direct response to your queries – Capital.com provides 24/7 email, telephone and live chat support in multiple languages.
Industry recognition and customer feedback: Choose a broker that’s won recent awards from leading industry authorities. Check out our exceptional customer feedback and ratings on independent review platforms like Trustpilot.
*Stop losses are not guaranteed.
