Trading business is getting more advanced every day. With each passing day trading platforms and brokers offering trading are improving and increasing. You might have heard about Degiro. But do you know what degiro actually is? What pros and cons are of degiro trading apps? Here in this article we will give you a brief Degiro review along with its pros/cons and traders guide.
Degiro Traders:
Degiro offers low fees with European regulation, stability and reliability. They offer their clients access to all types of trading instruments on the stock market. Offering over 50 instruments with a variety of assets like stocks, bonds, options and funds etc. Their main target is to provide their customers with professional services and minimum commissions. This advanced platform is best for all types of trading and traders. They have been in the market for over 12 years and working with millions of active clients and received over 86 international awards.
Pros:
Here is list of Pros of Degiro Traders:
- Offering low brokerage fees for trading.
- You can open transactions on European and American exchange.
- No minimum deposit required so anyone with little amount can start trading.
- No risk of losing a huge amount of money.
- Having risk insurance of 20,000 euros.
- Low possible commision rate
- Investment instrument are thousands in numbers
- Platform is convenient and simple to use.
Cons:
Along with pros here is a list of cons of degiro traders:
- Company website doesn’t offer any online chat.
- Limited options are available for replenishment and withdrawal of money.
Traders Guide:
They allow you to open different types of accounts at the same time. These accounts are good for both novice traders with minimum deposit and professional traders with accumulated capital. Each type of account has different features but available on one platform which makes it convenient while switching. There are five types of accounts offered:
Basic account:
It is good for holding assets and investing money. Doesn’t provide use of leverage.
Active account:
Have a moderate rate of leverage so that trade can be profitable.
Trader account:
This account provides one of the highest leverage. Good for traders having a lot of time for trading instruments.
Daytime Trader account:
On this account you can use 100% margin. It is for professional traders who are experienced and have good knowledge about stock market
Custodian account:
It is designed to accumulate deposits on favorable terms.
Paper Trading and how to get started?
Paper trading apps are the platforms offering clients to buy or sell stocks with virtual cash. It is very easy to start paper trading. We have shortlisted few best trading app for paper trading:
- eToro
- eOption
- Interactive Brokers
- TD Ameritrade
- SoFi
Here is a steps you can follow to start paper trading:
- You need to start with opening the account. You can open it on either mobile phone or computer. Set your email and password.
- Choose your trading platform and download a proper app for it and login.
- After logging in you have to unlock trading. Once you are verified, you will be able to start paper trading
- Choose a trading strategy for yourself.
- Place the paper trade order.
- After finding the right strategy and receiving stable income, start moving to real trading.
Hence paper trading is the best option for beginners to learn about trading without risking their funds. Paper Trading has many benefits like providing a platform for beginners to learn and professionals to earn skills and try out new trading strategies. We have also shortlisted top 5 paper traders. You can select any of them to start your trading experience.
