There was a time when trading was out of reach for the average person but as with many things, the introduction of the internet changed the way people could trade. It is now possible to trade from the comfort of your own home or anywhere there is an internet connection, using a mobile phone or tablet. With trading now more accessible than ever before, how easy is it for your average joe to start online trading?
Looking at trading from a beginners point of view, it can seem overwhelming when you look at the finance pages of a website or newspaper. Stock prices are listed and they fluctuate but to those who have never traded before, it can look like a list of meaningless numbers. So, perhaps the best place to begin is by learning a little bit about how the stock market works and there are plenty of online resources that offer a simple breakdown of the details.
However, if you cannot wait to get started, you can use one of the many mobile applications and arguably the best trading app Ireland is eToro. There are other apps available, including Libertex, Capital.com, Degiro, and Plus500 but for the average person on the street, eToro is the best place to begin.
eToro makes it easy for beginners to begin trading. So, even if you have no experience of the stock market or how trading works, you can start by using a demo account. You will be allocated funds and you can choose to invest the money into whatever you like on the app. Treat the funds as your own money and use it to learn the way trading works. The more accustomed you become to the methods of trading, the better chance you will have of making good investments when the time comes to use your own money.
Another great feature of the eToro app is you can begin trading with a small amount of money, with the minimum stock trade is just $50 and that is ideal for beginners because you do not want to be risking large sums of money. Put it this way, if you go skiing for the first time you do not head to the biggest jump on the slope and attempt to land, you will head to the nursey slopes and practice. Trading is much the same and you do not want to be pouring money into something you are yet to fully understand because it is not going to end well.
eToro has made it even easier for the average joe to get started in trading with a feature called social and copy trading. You can choose to follow an experienced trader and can copy their movements in the stock market, without having to do a thing yourself. It is almost a set and forget tool meaning you can have little knowledge of trading but get involved by following someone who has a lot more experience than yourself. There is always risk attached but it provides a great way to get started for someone without any trading knowledge.