Stocks
Having been around since the late Middle Ages, stock markets are perhaps the most well established of all trading environments, in some respects. They’re also the ones most new investors are likely to think of when they consider the very concept of investing. Let’s look at two solid platforms in this space: one a large incumbent, and one a nimbler option.
Vanguard
Established as one of the three biggest fund managers in the world, it’s no wonder Vanguard boasts popular stock investment tools. The Times has recommended Vanguard products specifically due to the low rates of their “ready-made” portfolios, which makes for appealing ease of entry for newcomers. Though the platform is really quite simple to use for other purposes as well, such that if you want a more active role in organizing a portfolio you’ll find it suitable.
Trading 212
Although it’s been around for nearly two decades, this platform has become more popular and available across many countries more recently (though notably not in the U.S. as yet). Its clean interface sports a few investment types (including the direct but risky option of CFD trading), and allows for near-instantaneous stock purchases. It also provides friendly and informative learning content for beginners. Trading 212 is available online, but also has a very sleek and appealing mobile app.
Forex
Global transaction volumes in the market for foreign exchange are absolutely massive, probably not only due to global flows of goods and people but also because debt is often used as leverage for higher margins. Forex platforms can give fascinating insight into aspects of international relations and governance, but they’ve also become easier for people to use for hands-on trading of currencies. Here are a few recommended options:
IG
This trusted forex and CFD brokerage has a sleek, informative, and secure web interface. It’s highly interactive, too, allowing closing of positions right from a chart. It is also known for providing strong educational tools (a nice feature for beginners) and simple deposit and withdrawal options –– though the fees for trades are on the high side.
MetaTrader 4
If you’re looking for an app that will get up and running quickly but can also cater to a higher level of expertise, this one has you covered. It’s a robust and thoroughly established platform, yet one that’s also become quite versatile. In addition, FXCM states that MetaTrader 4 is now available for download and use on a variety of popular browsers, and can also be downloaded from the iOS or Google Play store.
Crypto
Direct investment in cryptocurrencies tends to involve an exchange, where tokens can be traded for fiat currency or other tokens. There are centralized and decentralized versions of these exchanges however, so it’s a good idea to consider one of each.
Crypto.com
Among the mainstream exchanges, this one is a great option thanks to its high-yield savings and cashback-enabled visa cards. It’s also worth noting that, following in the footsteps of the behemoth exchange Binance and its BNB coin, Crypto.com recently dropped its own coin as well. However, you can still use the platform to trade in other cryptos as you please.
Uniswap
Don’t let its simple interface fool you — Uniswap has at times seen higher trading volume than the likes of Coinbase (which most would deem to be a better-known platform). As a decentralized app itself running on Ethereum, Uniswap better embodies the crypto ethos than most of its competitors, and includes a greater variety of instruments than your average centralized effort. It’s a crypto trading platform that seems very much made for crypto enthusiasts (though not in the sense that it’s too complex for beginners to get the hang of).
Commodities
The commodity trading market is always there, and always active, despite rarely generating a whole lot of attention. That said, events such as the Covid-19 pandemic and the Russian invasion in Europe have –– in various ways –– highlighted just how much commodity prices can swing, and thus how important it is for traders to be on stable ground. With that in mind, here are a few notable platforms.
Interactive Brokers
This is a highly flexible brokerage where traders can invest in commodity futures (as well as most of the other markets on this list and more). IB has a lot of different apps suited to different purposes, so if you think you may be interested, it’s worth browsing the offerings. As Business Insider pointed out in a recent review however, this platform is less suitable for beginners, on the grounds that its “vast suite of trading tools” might be overwhelming. It’s a reasonable assessment.
Tradestation
For anyone wanting to get really nerdy with their trading, Tradestation allows customization not only using point-and-click design, but even through its own simple programming language. That is to say, you can basically make your trading charts look and feel the way you want them to, within reason. As with IB, Tradestation caters well to those interested in commodity futures, but also supports trading in other markets (including crypto).
Choosing the right platform is about which market or markets you want to get into. Beyond that however, it’s also about what sort of trading you’re looking to do and what features or level of complexity you value in a platform. The options listed above only scratch the surface of what’s out there. But they should give you a few decent options to start your search with in each of a number of major markets.
