Best Trading Platform For Beginners UK

Best Trading Platform For Beginners UK

Best Trading Platform for Beginners UK Broker Comparison Table
Online BrokerMinimum DepositOnline Trading PlatformsFeatures
NoneMT4, Web Trader, Advantage Web, AT ProIntuitive web trader
$100Web Trader & AppsIntuitive web trader
$200Web Trader & AppsSocial & Copy Trading on Intuitive web trader
$200MT4, MT5, cTraderStandard account
$50MT4Classic account
$50MT4, Advanced Platform, Web TraderWide range of platforms
$5MT4, MT5Micro account
NoneMT4, Trade Interceptor Web Trader & AppsIntuitive web trader

Best Trading Platform for Beginners UK

What is the best trading platform for a beginner ? When trading with an online broker, the trader will trade through the trading platforms provided. There are different types of online trading platforms provided. Some are arguably designed with to aim to to be friendly to the beginner. These are typically web traders which aim to provide an intuitive trading experience. They do this by simplifying the layout, perhaps using larger fonts and extra space between elements.

However there are plenty of online brokers which do not provide these kinds of web traders and offer MT4 and MT5. These platforms can be useful to experienced traders as they support automated trading, which is an advanced trading method. However they can be used for discretionary trading, where the trader makes use of the chart and other tools and information to make their own trading decisions and thus can be used by beginners.

However the beginner can also be helped by the kind of information provided on the platform. This can include technical indicators and graphical object, but at some brokers may include information about or from the activity of other traders. This can include social trading, where other traders share their views about trading, helping inform the choices of other traders. Thus combining social trading and an intuitive platform can be arguably be said to be helpful for a beginner.

However even the beginner may wish to make their own trading decisions from the start and get to grips with analysis, both technical and fundamental. This can mean that the trader can build their knowledge from the ground up and use information about other traders as data, not something they have to rely on because they do not understand trading. Thus a clear simplified platform without social trading can be be useful as well.

One further avenue is to use an advanced platform from the beginning, as all platform can be used for basic trading, and get to grips with this kind of platform and as the trader becomes more experienced, test out more advanced strategies. This can be an argument for using MT5, as while this has not replaced MT4 it is a successor to MT4 and has improved its features. Brokers which offer MT4 and MT5 typically provide accounts which are approachable, for example Micro accounts, which allow small trade sizes and accounts which do not have a commission charge added.

Trading automation can include running Expert Advisors on MT4 and MT5 or cBots on cTrader, for example, but it can also include copy trading, where the trades of other traders are copied into the trader's account. What this means is that the beginner can start with any platform provided and trade using a chart and any information provided on the platform and help build a foundation of knowledge which can make using more advanced techniques feasible. Some platforms may take a little longer to get to grips with, but then that is what a practice account is for, both to practice trading and become familiar with the platform. Because when live trading the trader does not need the extra problem of not being sure about how the platform works. These brokers are all regulated by the FCA in the United Kingdom.

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