Turning to the services of brokers for trading stocks on various platforms, the future trader hopes to find the most favorable conditions. However, he immediately encounters a paradox: the type of account that may seem most attractive to him is actually not profitable for him at this stage. And then, the one that would suit him just right may seem unattractive. What to do? Choose an elite prime account right away or start from the base and open a demo account?
Move to the Heights of Trading Gradually
Of course, you can take a risk and immediately break into the world of stock and currency markets with large deposits and serious intentions. But, you will never go wrong if you prefer a gradual and smooth entry into the market.
Demo Account
If you have never traded before, it is best to start with a demo account. It will allow you to delve into all the nuances of this activity without risking your own funds. When you feel more confident and have learnt how to make even a virtual profit from your opened lots, you can take the next step.
Micro (Cent) Account
Open a micro account, which will be a bridge between trading with virtual funds and large amounts of money. Its advantage is that it splits your small deposit into cents and thus creates the illusion that you are operating with a large sum. The profit from trading on such an account, of course, will be insignificant, but you will not incur serious losses either. With this type of account, you can already confidently work out all the previously mastered strategies for real money.
Pro Account
This is the next stage and the type of account you need to choose when you:
- Have already mastered the auxiliary tools for trading
- Have chosen the assets that your investment portfolio will consist of.
In this case, it is best to stay on the most popular Pro share trading account. It is suitable for traders of different styles and different experiences, and therefore, will surely be convenient for you. Most traders stop at this stage because:
- Trading with a Pro account provides all the necessary tools for successful trading
- Traders earn enough profit for them
Not everyone strives to become true professionals and constantly deepen their knowledge in the field of financial analytics.
If you prefer the path of a professional, in the end, you will open a Prime or ECN account, which only experienced traders can handle. The path of a trader is exciting at any stage. Therefore, whichever account you choose, it will reveal to you many useful secrets that will allow you to multiply your profits.
