Best Online Trading Platform for Entrepreneurs
Diversify your assets with any of these best trading apps!
Investing is innate in every entrepreneur. It’s part of our system, which is precisely why we’re entrepreneurs. Put it simply, we invest, and we make something good out of it. Now, I bet you’re looking for another stream of income, that’s why you’re here. If yes, then let me make your life easier by giving you the best online trading platforms suited for entrepreneurs. This list is perfect, even for those who are just starting in the trading industry. But before we go to the list - read on why you should try online trading below.
What are the Advantages of Online Trading Platforms?
If you’ve always wanted to dive into online trading, then this is a perfect time. Why? Because there are so many options now! Imagine ten years ago; people needed to file tons of paperwork before being able to purchase stocks. Some may even have experience in dealing with an actual broker before issuance of stocks. The good thing is that our technological advancements took us out of that Jurassic era and paved the way for online transactions.
So, here are the top reasons why online trading is the right choice:
Efficient and Low-Cost
Just like online shopping, you can now invest online. Online trading is pretty popular amongst the new generation of entrepreneurs since it doesn’t require a massive amount of money and an advanced background, to begin with. Online trading enables you to have complete power over your portfolio – since it’s online, you can easily buy and sell stocks, cryptocurrencies, and other assets in just a few clicks.
Flexible & Mobile
Flexibility is an essential feature, especially since entrepreneurs are mostly busy. With Online Trading, entrepreneurs can monitor trading while stuck in the airport, waiting for the next meeting, or any time you have a quick break.
Real-time Investment Monitoring
With online trading, you get updates on your portfolio movement, market trends, and watchlist – making it easier for you to keep up with the latest prices. Many online trading platforms also offer a mobile app, which allows you to trade easily anywhere and anytime. A hassle-free experience!
What makes an Excellent Trading Platform?
Variety of Investment Options
There are so many options for trading nowadays, especially with the rise of cryptocurrency. The good thing with an online trading platform is that it enables you to choose among different assets. If you’re looking at diversifying your assets, signing up for online trading is a wise choice. This is true, especially when you choose an excellent trading platform that offers massive kinds of assets.
As an entrepreneur, every dollar is essential. That is why you open a trading account in a platform that offers free to low-cost trading fees. When investing, every centavo matters, so you make sure that you get the best out of your investment and avoid unnecessary costs as much as possible.
Instant Setup & User-Friendly Interface
In choosing a trading platform, you must choose one that’s easy to use. Why? Because you don’t want to sign up in a platform that has a slow processing time and is extremely difficult to navigate. Online trading should be simple and straightforward, one that you can do without any fuss.
Access to Market Reports
Online trading platforms typically give you exclusive access and insights to their market research reports & analysis. Thus, you’ll get first-hand information on how you can effectively strategize your trading patterns.
Now that you know the top things you need to take note of in choosing the right online trading platform, let’s now see which brands made it to the list!
Best for Trading Diversified Assets
IQ Option started in 2013, formed by IQ Options Europe Ltd. IQ Option is an online trading platform that’s based in Cyprus. Since its beginning, IQ Option has grown exponentially with over 70,000,000 registered users and over 1,000,000 transactions per day. IQ Option accepts traders from 213 countries, including India, Nigeria, South Africa, Malaysia, Pakistan, Singapore, and many more.
Kinds of assets available
- Stocks – IQ Option offers stock assets that include the most prominent brands today, like Amazon, Apple, Tesla, and many others.
- Forex - IQ Options offer 50 currency pairs, including USD/CAD, USD/CHF, AUD/USD, NZD/USD, EUR/USD, USD/JPY, and GBP/USD.
- ETFs - IQ Option offers 25 ETFs in the platform ready for trading. Exchange-Traded Funds, or most commonly known as ETF, combines many different assets into one basket.
- Cryptocurrency - IQ Option offers 27 cryptocurrencies, including Bitcoin, Ethereum, Cosmos, Ripple, Neo, Binance Coin, Litecoin, Cardano, TRON, Stellar, ZCash, Iota, Dash, EOS, and Bitcoin Cash.
- Commodities - IQ Option allows you to trade CFDs to Crude Oil, Crude Oil, WTI, Brent, Gold, and Platinum.
- Spreads – The variance between buy and sell prices. This factor is variable and depends on volatility, liquidity, and time of day.
- Swap Fees – These are charges applicable for positions held overnight. The charges range from 0.1% and 0.5% and tend to be higher when positions are held during weekends.
- Dormant Account Fees – When your account becomes dormant for 90 days, IQ will start charging you €10 (or currency equivalent) per month
- Withdrawal Fees – Bank transfers are charged for $31 (or currency equivalent).
- Commission – 2.9% for the commission (for specific cryptocurrency trades).
Why should you choose IQ Option?
IQ Option is definitely one we recommend. By simply looking at its statistics, you can already see that millions of users worldwide trust the service. Add this to the fact that there are at least 1 million transactions per day.
If you want to have a full review of IQ Option, you can read my review blog in the link below.
Best for Cryptocurrency Trading
CEX.io has over 3 million registered users in its platform. The company offers its users various trading tools for Bitcoin, Bitcoin Cash, Ethereum, Ripple, Stellar, Litecoin, Tron, and other crypto assets. The company enables you to trade easily by simply accessing the platform through a website, iOS and Android mobile apps, WebSocket, or REST API.
Kinds of Bitcoin available:·
- Bitcoin (BTC)
- Ethereum (ETH)
- Bitcoin Cash (BCH)
- Bitcoin Gold (BTG)
- Litecoin (LTC)
- Ripple (XRP)
- BitTorrent (BTT)
- Neo (NEO)
- Cosmos (ATOM)
- Ontology (ONT)
- Credit card funding – starts at 2.99%
- Withdrawal charges – up to 3% plus additional fees depending on your bank and currency
- Trading Fees – as low as 0.25% while fees on the brokerage trade can go up to 7%.
Why should you choose CEX.io?
CEX.io is one we surely recommend if you’re looking for a trading platform that has an expert background, rich features, massive users, flexible payment methods, and reliable customer support. By equipping yourself with the right tools, you’ll be sure that trading will come easy.
Best for FREE Trading
Robinhood is famous for pioneering free trading, perfect for those with a minimal budget. It’s a free-trading app that allows you to invest in trade stocks, options, exchange-traded funds, and cryptocurrency without being burdened by commission charges. Robinhood’s best known for its mobile trading, cryptocurrency trading, and free trading with no minimum amount. If you’re looking for a trading platform with these qualities, then Robinhood is the perfect choice.
Kinds of Assets Available
- Cryptocurrency: Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Ethereum (ETH), Ethereum Classic (ETC), Dogecoin (DOGE), and Litecoin (LTC)
- Stocks: Long only. No short selling and penny stocks
- Simple and multi-leg options
- Fractional share trading in nearly 7,000 stocks and ETFs
- Margin Trading
- All Equity Trades - $0 / FREE
- Stock Trading - $0
- Options Trades - $0
- Minimum Account - $0 for Brokerage account & $2000 for Robinhood Gold account
- Account Transfer Fee - $75
- No annual, inactivity or ACH transfer fees - $0
Why should you choose Robinhood?
Robinhood offers a sure way to jumpstart your investment portfolio. Whether you’re a beginner or a seasoned trader, you’ll indeed find good value with Robinhood’s platform. Robinhood will equip you with all the tools needed to give you a good start in investing. With its seamless interface, commission-free trading, and wide-range of assets, it will surely make trading easier. Plus, it’s free!
eCommerce Paradise was created by Trevor Fenner of Seattle, Washington in 2015 to help you, the entrepreneur, to start and scale your own eCommerce business. Trevor owns multiple 7-figure eCommerce stores and is a digital nomad, traveling the world while working remotely with the help of his team of virtual assistants from around the world. Trevor is currently located in Bali, Indonesia, and is a passionate skateboarder, surfer, scuba diver, photographer, environmentalist, outdoorsman, fitness and tattoo enthusiast.
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