Trading is an activity that has seen its fortune in recent years on the web, thanks to the development of sophisticated technologies, a faster and faster connection, and support tools that have made investments in the worldwide markets accessible to everybody.
Investments with trading, in fact, are no longer exclusive for specialists in the financial sector, nor it is needed a large amount of capital to get started.
Those who do not have a solid knowledge of economic and investment mechanisms, can rely on manuals, guides and trading courses available for free on the web and often offered directly by the best brokers.
In addition, the tools provided by the platforms for those who approach trading for the first time are many. Among them, one of the best tools for beginners is a demo account, that allows them to practice trading without risking their money.
Demo accounts are identical to real accounts with the difference that is not needed to make any deposit to start trading, as they are automatically filled in with virtual money offered by the broker.
This way, newbie traders can start investing in the markets without any risk and try out moves and strategies, with the advantage of avoiding any loss if one of these operations should fail.
Best brokers for newbie traders: what services they offer
There are many brokers that offer valuable support services to traders, a feature that positions them among the most valid and efficient platforms in the market.
To make sure you always rely on reliable brokers, it is essential to make sure they have the licenses supplied by the financial regulatory agencies of each territory. Regulation is a sign that the broker is not a scam.
Moreover, the best advice for newbies is to avoid dealing with brokers who promise too profitable and easy gains because in most cases they may hide fraudulent intent.
One of the most loved brokers, especially by beginners, is eToro that is now available also for the US market.
eToro: demo account, social and copy trading
eToro is one of the brokers considered the best to start trading because it provides newbie traders many tools designed to support them in the early stages of investment.
eToro Simulation is a free demo account service that is automatically activated to each user who completes the registration form to the site.
This way, traders can immediately start practicing their strategies and switch to the real account once they become familiar with them.
Another good thing about eToro USA is that the demo account will not be deactivated once the first deposit has been made, so even experienced traders can continue to use it, if needed, before making a particularly complex investment.
eToro Social and Copy Trading are two additional services considered to be the spearhead of this broker.
With Social Trading, eToro has created a real social trading network, giving all members the opportunity to connect, interact with each other, and share tips and winning strategies.
Copy Trading, instead, is the automatic trading service that guarantees beginners’ successful operations from the first moment. This tool allows those who have little experience to copy moves and operations from the most experienced traders and get, in percentage, the same earnings potential of the professional investors.
There are some differences between eToro for EU markets and the US version. The main difference is that the platform for the US market offers customers only cryptocurrencies as assets to trade, while eToro for other markets also allows to trade on forex, commodities, stocks and so on.
Disclaimer: This content does not necessarily represent the views of IWB.