Can anyone give an idea on the best platforms to day trade stocks please. I like the platform ThinkOrSwim in the states, is there anything similar to it here in the UK?
Also called day trading, involves buying and selling of stocks as well as other financial instruments on the same day. It means, all the positions get squared-off before the market closes in intraday trading. Also, there is no change of ownership of shares owing to the result of the trades.
Earlier, beginners would have faced a severe scenario and purely meant for financial firms as well as professional traders. Thanks to electronic trading and margin trading, this system has changed. Today, it is easy to start intraday trading.
Who should participate?
Those who are risk takers and have enough time to follow the market are ideal to do day trading. Intraday trading promises high returns and thus, sounds attractive. If you have a day job that needs your attention for most of the trading hours, you should avoid day trading.
Reasons to participate:
Some of the reasons beginners should consider intraday trading –
- Higher margins available for traders as opposed to investors
- High return potential
- Affordable brokerage charges
- Ideal for the short-to-medium horizon as the results pay-off then
Interesting, im curious as well. In mt4 there are certain stocks that are tradable. Is that correct?