Cheap Online Trading

One of the larger fees associated with stock trading are the brokerage fees. This has led to a rise in the number of cheap online trading platforms being offered to investors as a way to keep their costs low.

While cheap online trading platforms may seem like a great way to save money on transaction fees, there are some things you may need to consider.

Support and Customer Service:

Cheap online trading accounts can allow you to execute a large number of trades with relatively low fees and charges. However in order to keep your costs down, the brokerage may also elect to keep their own overheads down as well. This can often mean a reduced amount of support or customer service levels. Get more:

Cheap Online Trading

If you’re comfortable trading on your own without the need for customer service or technical support then a cheap online trading account could be ideal for you.

Commissions and Fees:

Every different broker charges a range of fees and charges associated with your trades. While cheap online trading offers you a lower set of fees, you may not be receiving the same benefits as you would with a slightly higher priced broker.

The primary difference between cheap online trading and more expensive brokers – aside from the price – is often the level of service and support you receive.

If you’re truly mindful of reducing your brokerage fees, then there is an even cheaper way to add stocks to your portfolio than just aiming at a cheap online trading account. You could simply opt for the dividend reinvestment plan. This option allows you to convert your dividend payments into extra shares added to your portfolio automatically with no brokerage fees at all.

Hidden Fees:

Sometimes cheap online trading accounts may have very low fees for each transaction or trade you execute, but there are brokerages that have plenty of hidden fees that you need to be careful of.

When you’re searching for cheap online trading accounts, see if you can access information regarding some of the other fees that may potentially be charged. These can include:

  • Account keeping or maintenance fees
  • Inactivity fees for not accessing your account for specified periods of time
  • Asset transfer fees in the event of transferring stocks into your account for security purposes
  • Minimum balance penalty fees for reducing your account below an agreed minimum balance
  • Interest charges on margin loans for investors who prefer to trade using leverage

Cheap online trading accounts are able to offer you the same transactional service as more expensive brokerage services, but it’s always wise to check any other associated costs that may be incurred before you open your own account. When you’re happy with the cheap online trading account you’ve located and you’re sure that the fees being charged are standard across most brokerages, then activate your account and enjoy your trading.

Forex Trading Techniques

Being a Forex trader could mean that you are constantly bombarded with information on stocks, exchange rates and the latest Forex trading techniques that may help you make instant money. However, for the sleep deprived Forex trader, there is simply too much information to handle. Moreover, markets keep on changing but the basic techniques always remain the same. Here is a list of a few time tested as well as latest Forex trading techniques that will keep you remain in the market in the long run. Visit:

Forex Trading Techniques

Forex Trading Techniques

  • Trend Trading– This is the one most simplified and old trading techniques in the Forex market. Currencies hardly take a sharp turn by dipping too much over or below their usual range. However, when the currency spends a lot of time in a specific range it is time that you read the trend and buy above the range and sell below the lowest point in the range. This is rather speculative and tricky. However, most of the people make money by this method.
  • Scalping Trade– In the scalping method you do not have to make bigger investments. Instead you make numerous short term trades that open and close within minutes. In scalping, the hourly trends of the currencies or the minute wise breakouts can help you in making some profit. This is especially true for currencies that are fluctuating within a very narrow range and go through numerous breakouts. This Forex trading technique gives you ‘n’ number of chances to trade and make profits. However you must have a specific goal and plan so that you may move out of the market as soon as the goal is met. Trade on EUR/GBP for the best results.
  • Turtle Trading– The turtles are usually slower than other Forex traders. They normally go for 20 day and 55 day high-low trends and then trade on their currency. This comes out as a safer option for the conservative Forex traders. Keep in mind that you would not be able to make profits out of the hourly or daily breakouts. Moreover, you need effective filters and indicators to tell you about the right situation of the currency you are trading in. Still, it makes for a great investment option.
  • Binary Options Trading– Binary options refer to making a ‘Call’ and ‘Put’ on the expected range of the currency. You can speculate what would be the range of the currency fluctuations and call at the highest point or put at the lowest. This Forex trading technique is good for beginners, however you must be very careful with speculation and read the trends before taking an action.

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