Online trading is becoming popular by the day. Approximately 280,000 people across the UK use online platforms to conduct trades.
The main benefit of online trading (also called e-trading) is that it offers a great deal of control to the traders, allowing them to make their decisions themselves. E-traders do not have to depend upon the advice, suggestions, or input from stockbrokers, and can make smart and informed decisions on their own.
Some of the other benefits associated with online trading are:
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Another major advantage of trading online is that you will not have to endure the exorbitant transaction costs and other charges associated with conventional trading firms. According to a study conducted by Bloomberg, most online traders pay around $5 to $10 for buying and selling financial instruments like stocks, bonds, and ETFs (Exchange Traded Funds).
Greater Ease and Flexibility:
Time is one of the most crucial factors when it comes to trading, which means that the speed and swiftness associated with online portals is a major benefit for users. Online trading allows you to complete a trade almost instantly, while conventional brick-and-mortar firms often require multiple appointments (in-person, over the phone, or online) before you can even initiate a trade.
No Brokerage Bias:
As we mentioned earlier, online trading allows traders to do what they think is best. This allows traders to eliminate brokerage bias, which occurs when brokers offer advice or recommendations based on their self-interests. For instance, if your broker is receiving a commission from a specific company, they might encourage you to invest in that particular stock.
Just because online trading is cheaper does not mean that it is cheaper. In fact, many modern-day online trading companies offer an impressive range of online tools, which allow customers to make informed decisions and optimize their returns.
A number of online trading platforms offer trading information and stock quotes that allow users to check how their investments are faring in real-time.
Trading with Astro Holdings – Pros and Cons:
1) Wide Range of Trading Instruments:
With Astro Holdings ( astroholdings.co.uk ), you get access to a number of trading instruments and asset classes, including:
- Gold and commodities
- FOREX (Foreign exchange)
- Gold and other commodities
2) Customized Trading Accounts:
One of the core objectives of Astro Holdings is to be able to cater to the varying financial demands and goals, as well as the trading expertise and experience of each of its clients. As such, the firm offers four different trading accounts:
- Trading accounts for beginners
- Accounts for top traders
- VIP Exclusive Trading Accounts
- Managed Trading Accounts
3) Sophisticated Trade Station:
Astro Holdings’ interactive and action-packed trading platform has been designed particularly for beginner traders, and is specifically useful for trading CFDs (Contracts for Differences) and FOREX. You can use this platform to open your trade, set the stop-loss level, and begin trading.
The platform is extremely intuitive and easy to use, and also has a dedicated mobile application that can be downloaded at zero cost.
4) Charts and Other Trading Tools:
With Astro Holdings’ comprehensive range of trading tools and instruments, you can always stay on top of any changes in the trading world and remain informed about the best stocks to trade. More active traders can also arrange to receive price and execution alerts on their mobile phones.
Once again, all of these tools are extremely easy to use, even for people who are new to the trading universe.
5) Trading Education:
Astro Holdings’ instructional videos offer a wealth of education and information to those who want to learn more about the world of trading. The trading material covers a wide range of topics, including:
- The basics of FOREX
- The basics of CFD
- What are raw materials
6) Advanced Security:
Astro Holdings wants all its clients to know that their security is the firm’s topmost priority, and therefore, a number of measures have been implemented to ensure that the brokers can trade in a secure manner:
- SSL encryption
- Verisign Security
- Comodo Security
In order to offer further security and comfort to its clients, Astro Holdings also offers additional layers of security, along with a dedicated email address and other contact details that clients can use anytime they want.
1) High Minimum Deposit Requirement:
Even though Astro Holdings does have a Basic account that can be opened with a minimum deposit of less than $10,000, this account type does not come with a dedicated account manager. This means that, if you want a manager for your account, you will need to make a deposit of at least $10,000 (7,615 Pounds) – something that might not be desirable, especially for beginner traders.
2) No Mobile Application:
Even though the trading station does have a mobile application, the platform as a whole does not offer a mobile app at the moment. This could be discouraging for traders who prefer trading on-the-go or might not have access to laptops or computers.
To sum up, Astro Holdings, with its different asset and account types, unique trading station, sophisticated trading tools, and comprehensive educational material, is one of the best trading platforms across the country. Even though the relatively high deposit requirements and the absence of a mobile app might deter a few traders, the platform, on the whole, is pretty desirable for all types of traders.