Stocktrading software – Practice equity trading without losing money
If you’re reading this, the world of online trading has you under its spell. It’s an allure that’s easy to fall for because equities trading exists in a vacuum of excitement, and the ever-present possibility of significant financial gain, if done right. If you’re hesitant to get started, though, that’s also understandable, because there’s also a risk – just as much possibility of financial loss, as gain.
There’s a way, though, to cut your teeth in a trading situation – with real world scenarios and potential financial instruments – without you ever having to lay a single cent of actual money on the line.
MetaTrader 5, with QuickTrade, is an online investment platform providing everything needed for fully-fledged and flexible trading operations. MetaTrader 5 provides fundamental analysis, a professional MQL5 development environment, and a multi-currency tester.
Additionally, the platform has an accomplished demo account option, for you to hone your trader skills. Here’s how to get started:
How to open a trading account
Step 1 – Create a Profile
Visit QuickTrade and click the CREATE PROFILE button. Complete the form to start the process.
Step 2 – Verify Your Email
We’ll email you instructions on how to verify your profile. Check your inbox.
Step 3 – Client Portal Access
Once you’re verified, we’ll confirm your login details.
Step 4 – Upload Your FICA Documents
Upload a copy of your ID or passport, and a proof of residence so we can ensure FICA compatibility and create your profile for you.
Step 5 – Complete a Q&A Test
We want to know your trading experience and history, just so that we can define the risks associated with trading for your trading skill and experience, and so help you become the investor you want to be.
Step 6 – Verify Your Profile
Then it’ll be up to us to verify and approve your documentation. We’ll let you know when we have, and you can then start trading immediately.
Stock trading software – Understanding the platform
The MetaTrader 5 platform is a multi-asset tool that allows trading in forex, stocks, futures and contracts for difference (CFDs). It provides comprehensive price analysis and uses algorithmic trading applications.
Here’s a breakdown of the platform:
Flexible stock trading software system
The tool supports both traditional netting and hedging options, has four execution modes – Instant, Request, Market and Exchange – and supports all types of trade orders.
Professional technical analysis
The platform has more than 80 technical indicators and analytical tools, including graphic objects, and the capability to provide detailed analysis of quote dynamics.
Trading signals and copy trading
The tool automatically trades at your preferred risk level and profitability, by monitoring hundreds of free and paid signals.
A pioneering feature of the platform is algorithmic trading. Through trading robots, the tool analyses quotes and performs trading operations.
These are just a few of the world-class features of MetaTrader 5. Click here to find out more.
Demo and live – The difference
So, as mentioned, MetaTrader 5 has a demo account option, too. It’s a very useful feature that lets you create what is essentially a dummy trading profile. Within that profile, you can ‘trade’ as if in a real-world marketplace scenario.
Even though the MetaTrader 5 demo account provides much of the functionality of a live situation, there are some differences. It’s always best to gather some trading experience on the demo system first. But knowing these subtleties will prevent any disconnect happening, when you move into a live trading scenario:
Demo accounts aren’t affected by interest or out-of-hours movement in pricing
Demo trades won’t be rejected because of size or price
Demo accounts won’t be closed if there are insufficient funds for margins and running losses
Demo accounts aren’t charged for chart packages
Practice, practice, practice
The marketplace is a constantly shifting entity – savvy traders have the ability to read the ebbs and flows and move investments toward potential growth. But that kind of knowledge is only borne from experience, and trading often, and perhaps a few big money losses. MetaTrader 5 lets you attempt to gain professional trader-level investing with abandon, because the spectre of the loss of actual money, won’t be there to hold you back. So, before you hit the live spreads, practice equity trading and allow yourself to become familiar with potential real-world investment scenarios. Soon, you’ll be reading the markets like a book.
Click here to open a trading account with QuickTrade now.