10 Best Trading Platform For Beginners In January 2023

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10 Best Trading Platform For Beginners In January 2023

10 Best Trading Platform For Beginners In January 2023

The rise of cryptocurrencies has led to a growing number of new and improved trading platforms that have provided opportunities for traders of all experience levels. However, it can be challenging to find the right venue, especially as the cryptocurrency markets continue to grow and evolve at an increasingly rapid pace. 

Let’s look at the ten best trading platforms for beginners in January 2023. that are currently in use by crypto enthusiasts worldwide, and see what they have to offer both beginners and experienced traders alike.

1) eToro Trading platform

The number one ranked eToro trading platform provides social network features allowing users to discuss stocks, shares, and investment ideas with a large community of traders worldwide. eToro is the best trading platform for beginners in January 2023.

This includes an interactive chat service and forums, and market sections where other users can upload their investment ideas, portfolio holdings, and performance. It is also available in the best trading app.

The site also includes daily charts, technical analysis tools, and social networking tools that make it easy to share your market insights with friends or hundreds of thousands of other traders.

A web-based service only available to customers over 18 years old who reside in one of the following countries: Austria, Belgium, Canada, Czech Republic, Finland, France, Germany, Greece, Hungary, Ireland, Israel, Italy, Liechtenstein, Luxemburg, Malta, Netherlands Norway Poland the Portugal Slovak Republic Spain Sweden Switzerland United Kingdom

Pros

  • eToro is a social trading platform that also offers investment and brokerage services. The key to eToro’s appeal, though, is social networking.
  • In addition to following traders on your eToro account, you can follow other professional traders and even open trades automatically when you identify price trends that multiple investors share.
  • This is a great way to get started as an investor because no matter how bad you are at reading charts or financial reports, social proof means that at least some people will always be good traders.
  • To maximize returns from your stock picks, consider trader performance and investor performance when deciding which stocks to follow.

2) Markets.com trading platform

This electronic trading service was launched at 6 am October 29th, 2001, and has been trusted by investors ever since. 

They support not only English but also German, French, Spanish, and many other languages. This is the best trading platform for beginners in January 2023.

Their advanced margin trading is another reason they are one of our top picks. You can trade all financial instruments, from short selling to CFDs. 

While their pricing structure may be a bit high, it comes with a free demo account, so you can try them out before signing up. We recommend that beginner traders try them out first. 

Pros

  • unlimited access to the entire history of your personal and Demo accounts;
  • Convenient real-time quotes;
  • Complete market overview with the ability to view multiple instruments at once;
  • Advanced technical indicators such as RSI, MACD, Bollinger Bands, and CCI ;
  • Numerous analytical tools allow you to compare different instruments or timeframes;
  • No restrictions on position number;
  • Mobile apps (iOS, Android);
  • Trading platform programming interface.

3) TradeStation trading platform

TradeStation is an online financial services platform that provides global investors with a complete set of tools, resources, and connections to trade any financial market.

With its award-winning WebTrader platform, associated mobile apps, and third-party connectivity such as integrated charting platforms and robust APIs, TradeStation makes it easy to buy or sell stocks, options, futures, or foreign currency on over 150 markets worldwide.

Whether you’re a novice investor just starting or a seasoned trader looking to broaden your horizons and diversify your portfolio, TradeStation can help you reach your goals.

To use TradeStation’s platform effectively, you will need at least $2 000 USD deposited into your account. It is also the best trading platform for beginners in January 2023.

Pros

  • There are many advantages of using a platform as a service solution. One of them is that all features can be accessed at any time.
  • But it is not just about being available from anywhere, but being able to do so without downloading anything on your device.
  • TradeStation offers users access to their platforms by signing into an online account or downloading and installing its mobile app onto iOS and Android devices.
  • Either way, you can trade on the go whenever and wherever you want, as long as you have an internet connection.
  • While mobile trading is pretty convenient, there is no denying that desktop applications provide a richer experience overall.

4) ZacksTrade: trading platform

ZacksTrade is a leader among investing websites. The platform features new investors’ investment advice, stock picks, and data analysis tools.

Its website also offers financial analysis tools to help novice traders learn how to trade. It is also the best trading platform for beginners in January 2023.

The Zacks Trade Pro feature helps intermediate and experienced traders place trades without being overcharged or paying hidden fees.

This feature enables users to select from several different order types and customize their trades.

Other features include portfolio tracking and a streaming news feed that showcases economic reports as central banks worldwide release them. 

Pros

  • ZacksTrade stands out as an excellent option for beginning traders because it offers a community of users and tools designed to help you succeed.
  • The ZacksTrade social media presence is among its most robust features. It uses interactive features like daily polls to prompt different conversations, feedback, and new ideas.
  • Users can also sign up for comment notifications on particular stocks to know what other investors say. 

5) Firstrade Trading platform

Firstrade is a very affordable online broker. The best trading platform in January 2023.

The commissions are low at $4.95 per trade, which is excellent if you want to pay by check or add money by ACH transfer.

If you set up an automatic investment plan, you’ll also receive a discount on each purchase, so your cost can be as low as $3.95 per trade.

And suppose you sign up for electronic delivery of account documents. In that case, your trades will be free (you only have to pay $2.95 if you need your physical copies sent via courier).

Pros

  • Firstrade has a simple platform that makes it easy to navigate.
  • It is very user-friendly with a range of services and packages to suit your needs if you are getting started investing or are an experienced trader.
  • Firstrade’s website has helpful features that let you compare accounts and apply for a new report from within their website.
  • The platform uses technology so you can trade from your computer, smartphone, or tablet.
  • Suppose you’re a beginner unfamiliar with some of those terms and want more information. In that case, there is an option to chat live with an advisor 24/7.

6) Merrill Edge Trading platform

Merrill Edge’s beginner-friendly platform allows you to create an account without spending a fortune. Merrill Edge is the best trading platform for beginners in January 2023.

You can get started with only $1,000. However, you won’t access more advanced features such as pre-trade price quotes until you’ve accumulated at least $25,000 in your account.

While you’ll need a minimum of $5,000 to trade forex and futures contracts (and no maximum is specified), you can use Merrill Edge’s practice simulator before investing real money in these instruments.

And once your balance hits six figures or more, Merrill Edge offers attractive rates for margin loans on top of its low base rates.

Other perks include extended hours (weekends included) and live customer service reps available 24/7 via phone and email help.

Pros

  • The Merrill Edge Trading Platform makes it easy to trade stocks, options, ETFs, and mutual funds from a single account.
  • In addition to standard investment data, it has a built-in scanner that compares securities to make intelligent recommendations based on your risk tolerance and goals.
  • The platform allows you to trade with touch or voice commands while on the go. You can also schedule automatic trades that execute when conditions are right. 
  • Platform help simplify investing so you can focus on what matters most: finding great investments.

7) OctaFX Trading platform

OctaFX – is a leading foreign exchange brokerage company that gives you access to more than 250 currency pairs on their MetaTrader 4 and WebTrader platforms. OctaFX is the best trading platform for beginners in January 2023.

OctaFX provides:

  • A secure trading environment.
  • Numerous order types.
  • Exclusive promotions.
  • Guaranteed stop-loss protection.
  • It is the best trading platform for beginners in January 2023.

Try your luck with one of 10 free demo accounts and see if Octafx meets your standards of top-notch Forex broker. You will be amazed at how easy it is to succeed with OctaFX. Making money has never been so easy!

Pros

  • It is a modern and stable tool that combines state-of-the-art technology with intuitively designed functionality to provide you with maximum comfort of use.
  • It works on your Windows PC and lets you trade over 500 instruments, ranging from currency pairs to CFDs on Commodities and Stocks.
  • Moreover, it integrates some of the most popular social networks into its interface, so you can always be up to date with what’s happening: Facebook, Twitter, Google+, Reddit, and LinkedIn are just some of them.
  • Another distinctive feature is an easy-to-use copy trading feature that automatically allows newbies to copy more experienced traders’ trades.

8) XTB Trading platform

XTB is a regulated platform based in Estonia. Its software platform is easy to use and allows you to create your cryptocurrency portfolio by copying other successful traders quickly.

The fees are lower than some of its competitors, but there’s no free trial available. XTB is the best trading platform for beginners in January 2023.

In addition, you can trade on more than 90 markets globally, including those focused on emerging markets like Venezuela and Nigeria.

Here’s what makes XTB unique: Trusted by investors (XTB is regulated), high level of security, CopyTrader feature, fast executions, and excellent customer service. 

Their team loves working with them because they thoroughly understand forex trading, cryptocurrencies, and CFDs. 

Pros

  • XTB is one of Europe’s leading financial service providers. XTB was founded in 2008 and is headquartered in London.
  • As a financial services provider, XTB offers an innovative approach to your investments, with CFDs on shares, commodities, indices, and ETFs.
  • The platform’s success can be attributed to its traders’ expertise; XTB has received awards at Best Trading Platform and Best Social Trading Provider. 

9) IC Markets Trading platform

IC Markets is an online forex and CFD platform with an excellent track record of providing consistent, quality service.

It offers fast execution, tight spreads, and several payment options. It is also the best trading platform for beginners in January 2023.

Additionally, it provides multiple advanced order types and very user-friendly trading platforms for MetaTrader 4 (MT4) users. 

The platform has been around since 2008, so you can feel confident placing your money with them, especially if you are newer to forex trading. 

This allows a maximum account balance of $2 million, and Mobile Trader is available on iPhone only (ultimate account balance of $2 million). 

Pros

  • Institutional-grade trade execution. Guaranteed fill and full transparency on order status.
  • Integrated newsfeeds and charting tools.
  • IC Markets provides a secure and reliable environment to trade Forex, Commodities, Stocks, Indices, Cryptocurrencies, and more online with leverage up to 1:500 & fixed spreads starting from as low as 0.0 pip on major currency pairs!
  • Fast execution of trades at millisecond speed!

10) FP Markets Trading platform

FPMarkets is an innovative forex platform that offers its clients a competitive service and high-quality education.

The platform was founded in 2007; it’s regulated by The Financial Commission (FCA), and they are authorized and regulated by The Financial Conduct Authority (FCA) under firm reference number 617068 and subject to limited regulation by the Australian Securities & Investments Commission (ASIC).

FP Markets offer instant access with fast execution of trades on more than 50 assets through MetaTrader4 and CopyTrader, staking on several purchases, CFD accounts, and long-term investment products.

Since early 2012 FPMarkets has had offices around Europe, including the UK, Germany, Italy, France, etc. They also expanded their services to USA and Canada. FP Markets is the best trading platform in January 2023.

Pros

  • The FP Markets® has a similar trading experience to that of MetaTrader 4.
  • It has around 12 technical indicators, over 35-time frames, and a wide range of currency pairs.
  • However, it doesn’t have signals like those offered by other platforms such as  Avatrade.
  • The most significant benefit of FP Markets is its ultra-fast account opening time (3 minutes), followed by powerful software that you can use for free on your mobile device. 

Conclusion

Trading platforms allow you to connect with a broker. There is a range of different brokers, so it’s essential to be picky when choosing which one is right for you.

The price and quality will depend on the services offered, like level of support, educational resources, and financial advice. For example, those interested in high-frequency trading might want an advanced algorithmic platform.

However, those who want an easy way to invest should seek out something more simple. Some platforms offer a full-service package that includes everything from stock recommendations to tax management advice; others provide no guidance or coaching.