Inflation has reached record levels and while the economy appears to be improving, average working people are still struggling to make ends meet. Now is the perfect time to explore the growing world of online trading and see if it’s right for you.
The Pros And Cons Of Working Online
It’s no secret that the world of online trading is on the rise. As more and more people turn to the web to find information, make banking transactions and conduct business, the demand for skilled online traders increases.
Pro’s of working online:
- flexible working hours
- more opportunities for career progression
- no need to stand for long hours in one place
- ability to work remotely
- low overhead costs (No rent to pay, low energy bills and no need for additional staff)
- ability to work independently or as part of a team
Con’s of working online:
- ability to work remotely (Not everyone has a desktop computer or laptop)
- more competition for jobs (Since the demand for online traders is high, competition is likely to be fierce)
- fewer job security and benefits (Since the demand is high, there is a good chance you may be approached by a competitor at any time)
- ability to work independently or as part of a team (Depending on your experience, you may not get too many opportunities to showcase your skills)
The Top Five Online Investment Platforms To Get Started
Nowadays, the world of online investing is extremely competitive. There are dozens, if not hundreds of platforms where you can trade stocks, funds, cryptocurrency and more. Choosing the right starting point is critical to ensure you make the most of your online trading adventure.
Here are the top five best-in-class online investment platforms that you should consider:
Stockspotting is one of the simplest and most popular platforms for newbies to get involved in online investing. The good thing is you don’t need any kind of expensive hardware or software to join and make use of this platform. Just open an account, set up your portfolio and you’re good to go. The bad thing is, this is also one of the least regulated and most heavily traded online stockbrokers. This means there is a lot of competition and the chances of you making money are fairly slim.
If you’ve been paying attention to the news over the last year, you’ll know that cryptocurrency has had a massive surge in popularity. Indeed, the number of businesses and individuals investing in bitcoin and other cryptos has reached record levels. One of the biggest and most popular cryptocurrency platforms is Coinbase. Its popularity lies in its simplicity and security. You can sign up with Coinbase with just a bank account and an email address. Once you’ve done that, you’ll be asked to link your bank account and verify your email. After that, you’re ready to make your first purchase in the form of cryptocurrency.
The only downside to this popular choice is that you’ll need to find a way to store your cryptocurrency. Since they are digital, they are prone to losing value. If you’re looking for a way to hedge your risk, you should investigate other options.
Similar to Coinbase, Robinhood is another well-known and popular wallet and brokerage for investing in cryptocurrency. The good thing is you don’t need to own any cryptocurrency to open up an account with Robinhood. All you need is an email address and a bank account. Once you’ve done that, you’re good to go. You can then start investing in a variety of cryptocurrency and indexes with a minimal amount of effort. The app is completely free so it’s very accessible to anyone.
The downside to Robinhood is that, like many other cryptocurrency platforms, the chance of you making money is fairly slim. This is mainly because there is a lot of competition in the industry and many people are in the same boat as you. For instance, the site receives up to 3.7 million visitors per day, according to Google Analytics.
However, like many other platforms, Robinhood encourages users to read and engage with the content available on the site. This means, even though it’s a high traffic area, the chances of you finding success are relatively high.
If you’re looking for an extremely user-friendly and simple platform to get started with cryptocurrency investing, Binance is the best option. All you need is an email address, a password and a piece of identification (like a driver’s license or passport). As soon as you’ve done that, you’re ready to make your first purchase in the form of cryptocurrency. Remember, it’s always a good idea to do your research before investing in any type of asset, especially cryptocurrency. That being said, with Binance, the chances of you making money are fairly high. This is mainly because it is heavily regulated and there is very little competition in the industry. This allows the platform to offer low fees and high-quality execution for traders.
The downside to Binance is that, like many other platforms, it is not a very welcoming place to newbies. Indeed, the platform does not offer educational resources to its users. This can make it a little difficult for beginners to navigate the platform without getting confused or in over their heads. In other words, even though Binance is a pretty simple platform to use, it is not as user-friendly as other platforms out there.
Cboe Global Markets
Cboe Global Markets is a bit of an all-rounder when it comes to online platforms for investment. Not only do they offer cryptocurrency trading, but they also allow users to speculate on the future price of gold, silver and platinum. Additionally, they offer users the ability to short sell stock and trade stock index futures and options. Essentially, this makes them a one-stop-shop for anyone interested in pursuing a career in online investing.
The bad news is, like many other platforms, Cboe Global Markets charges a commission rate of up to 20% for all stock activity, including buying and selling. This means you’ll need to make at least $2000 in profits from stock activity before you start seeing a payout from the platform. Like many other platforms, Cboe Global Markets is also fairly restrictive when it comes to offering educational resources to users. For example, they don’t offer any courses or certifications for those interested in pursuing a career in online investing. Having a high turnover rate is also common on Cboe Global Markets, which can make it difficult to make any meaningful profit from stock trading.
What Are The Most Popular Types Of Courses For Those Seeking To Advance Their Career In The Field?
Now that you’re equipped with the knowledge necessary to pursue a career in the online world, you may be wondering what type of courses are appropriate for you. After all, not all education is created equal. Indeed, while some people find great value in formal education, others learn more effectively via experience. So, which type of learning do you prefer?
Formal education can be extremely beneficial in preparing you for a career in the online investment world. Indeed, many successful individuals got their start in the industry through a combination of formal courses and experience. The good thing is, a lot of the popular courses for those seeking an entry-level job in the field focus on teaching you the necessary analytical and reasoning skills. Moreover, these courses are fairly easy to get into, with many platforms offering them.
On the other hand, experience is invaluable, and something you can’t learn in a classroom. This is why many successful individuals in the online investment world don’t have degrees. Instead, they got experience first, then figured out which courses to take to move up the ladder.
Here are some of the most popular courses for those seeking to advance their career in the field: