Best stock trading platform in Singapore
Trading is becoming increasingly popular in today's world. It is a great way to earn extra income as well as to be a mainstream occupation. In the latter case, if you study the laws of the investment market well enough, as well as practice, analyse, follow global trends and constantly learn, you can earn good profits.
Trading has gained its popularity mainly due to its technical accessibility. Nowadays, almost everyone has access to the Internet and, consequently, to trading in the stock market.
All you need is a laptop (or a mobile phone), Internet access and a minimal start-up capital. Whereas investing was previously the privilege only of very rich and influential investors, today with as little as $10 you can start trading on the stock market. The trader's main tool is an online trading platform. Choosing a reliable and quality online trading platform is an important issue.
Based on feedback from experienced traders, you can make a list of the main options and features that a good trading platform should have, namely:
- Easy and fast registration;
- Demo account;
- Tutorials section;
- Easy deposits and withdrawals;
- Low deposit and withdrawal limits;
- Decent choice of financial markets;
- Tools for analysis;
- Availability of trading tools;
- Low commission costs;
- Flexible settings;
- Availability of mobile version;
- The presence of feedback.
We believe that the IQ Option online trading platform fully meets all these points. Let's take a closer look at why we believe this platform is the best online trading platform.
Easy and fast registration
To learn how investments work, without risking your own money, try out a demo account. A demo account is a practice account. You can do with this account all the same operations, as you would do with a real one, but these are fictitious transactions. The system will credit the account with $10000 dummy funds, so you can use them however you want. You can use these funds in any way you wish, simulating real transactions, to see how the exchange works. You cannot withdraw this money, but you do not have to return it if a test transaction is unsuccessful. Practice and hone your skills by carrying out test operations in a demo account, track the results of your operations, and analyse them. You can update the amount on your demo account as many times as you want, and there is no limit on the number of hours you may use it.
A demo account is an advantage when choosing a trading platform.
Aside from the demo account, which will allow you to practice trading, the platform also has a separate section with video tutorials. Here you will see all the necessary video lessons that will help you get started with the finer points of the investment business. This section contains both basic information on the basics of internet trading, as well as more advanced lessons on the use of various indicators for analysis and derivatives trading. The lessons are written in a very clear manner, with practical examples and a clear demonstration on the charts. We recommend that you go through all of the lessons and reinforce your knowledge with demo account practice.
The learning section is another plus for the platform.
Easy deposits and withdrawals. Low limits
Depositing money into your account or withdrawing money from it is easy. No need to go to the bank and pay for the transfer to the account for details. You can do all transactions in the comfort of your own home. To deposit money into your account, click the "Deposit" button in the top right corner. A "top-up" section will open, where you will see a list of available payment services. Among them you can deposit via bank card or payment systems, such as Webmoney, Neteller, AdvCash, Skrill. Choose the most convenient option and deposit your account. Depositing an account is instantaneous.
The minimum deposit amount is $10, and the minimum withdrawal amount is $2.
Easy deposits and withdrawals and low transaction limits make the platform accessible to anyone who wants to trade online. This is another plus for our platform.
Wide range of financial markets
The "assets" section offers you access to a wide range of financial instruments.
The platform offers:
- 25 popular forex pairs. Explore and trade major, minor and exotic currency pairs with effective spreads.
- Stocks of 180 well known companies. Trade CFDs on shares of leading companies and industry giants without actually owning them.
- Trade commodity stocks. Speculate on hard or soft commodities, such as gold, silver, oil and grain.
- ETF trading. Diversify your trading with CFDs on exchange traded funds, where multiple assets are bundled into one basket.
- Indices. Select from a list of broadly traded CFDs on indices that represent a specific market sector or national economy.
- Crypto-currency trading.
- Digital Options. Trading these options allows you to speculate not only on price direction, but also on the extent of price movement.
- Binary Options. Trading instrument that gives guaranteed profit for correct forecast of asset's price direction within the chosen time frame.
Financial products offered by the Company include CFD and other complex financial products. Trading CFDs carries a high level of risk, as leverage can work to your advantage or disadvantage. As a result, CFDs may not be suitable for all investors because you could lose all of your invested capital. You should never invest money that you cannot afford to lose. Before trading the complex financial products offered, make sure you understand the risks involved.
Analysis tools available
Get the most out of your fundamental and technical analysis with the news feed and economic calendars. You can view the news by asset/company and general news feeds. The settings allow you to display news updates directly on your trading room screen, so you won't miss important stock market events. With real time updates and links to only trusted and reliable sources of information, the platform is highly informative and allows you to analyse the influence of particular events, both national and international, on the price movements of assets.
Besides the news that contributes to the fundamental analysis, you will also find more than 100 of the most widely used technical indicators and widgets on the platform. You can use one or more indicators at the same time, or open several working windows with different indicators for comparison.
Always be aware of what is happening in the financial markets with customizable price alerts. This is convenient and ensures you will not miss important market movements.
Trading tools available
Protect your trades with Stop Loss and Take Profit.
Stop Loss is an order to the broker to close the current position if the loss reaches a specified value. In other words, if the market goes against us, we can be sure that the losses will not lead to a total loss of the deposit.
Take profit is a reverse pending order, when triggered, the position will be closed at the current profit level. The automatic profit taking is especially important for news and scalping strategies, where the desired momentum can last for several minutes or even seconds. It is impossible to manage to close the order manually in such a short period.
You will also find the multiplier function on the platform, which can be used to activate leverage and increase the amount of your trade. It is important to remember that using leverage also increases the risk of the transaction, so do not enable this feature unless you know very well how it works.
Flexible platform settings
The 'settings' section of the site is very detailed and allows you to customise the platform to your own tastes and preferences. You can customize the display by choosing a dark or light theme, change the zoom level of the interface, and choose what data will be shown on the chart (best trades per expiry, asset price, setting of price action alerts). Here you also select the language of the platform from the available 17 options.
In the "trade" section you select the settings for opening and closing positions with or without confirmation, as you prefer.
You can also set up keyboard shortcuts, notifications on the platform and to your email.
In the privacy settings you will be able to open or close personal information from public display.
Availability of a mobile version of the platform
Mobility and dynamism are the main distinguishing characteristics of our time. Being "here and now" is the main task of a successful modern person. That is why website developers of large companies offer their customers mobile application variants, which you will always be able to use their services. Our platform is not an exception. Mobile version of IQ Option platform is as convenient in terms of functionality as its desktop version. As with the full version, here you will have access to all assets, operations, news feed, education, chat and support. The mobile version also includes indicators and trading tools such as stop loss and take profit.
Synchronization between the desktop and mobile versions is instant, so you can switch between the different versions, and all your trades will be visible on all the gadgets you use. It is very convenient and practical.
The mobile version of the platform is especially important for day trading, when it is important to have a safety net against network disruptions in the form of mobile internet.
The platform is intuitive and easy to use. But if you do have any difficulties in using it or if you have any questions, you can always get in touch with the customer support team. To do this, click on the "customer support" icon in the bottom right corner of the platform and browse the ready answers in the section. If you don't see your own option amongst them, then post your question in one of the 17 available languages. The support team is available 24/7.
In addition, there is a chat room on the platform where you can exchange experiences with other traders.
Sign up for the trading platform today and see for yourself that it's the best trading platform for stock trading in Singapore!