Demo Trading

Online trading platforms: How do you know if you’ve picked the absolute best of the lot?

When it comes to picking a platform to trade, it’s always simpler when you have a checklist on how to pick the right broker! This guide does just that, walking you through everything one should keep in mind.

Wondering how to choose an online trading platform that best suits your needs?
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Some investors are willing to pay higher trade commissions for a state-of-the-art platform; others count costs above all else. Irrespective of whichever criteria you fall into, you would want to know what your best option is.

Before we elaborate further with a checklist to help you find the best online broker for you, here is a brief reminder for investors in the UAE.

Quick reminder for UAE investors

A point to keep in mind is that not all international trading platforms, like TD Ameritrade and Interactive Brokers, can be used by investors in UAE. In the UAE, there is a list of licensed operators. Dubai Financial Market (DFM) offers an elaborate list of online brokers on their website.

DFM also provides a regularly-updated list ranking top brokers in the region. For users in the UAE, while ADSS does not charge a commission for buying and selling stocks, a number of platforms like Plus500, Forex.com and Oanda charges comparatively lower fees.

Brief checklist

Now let’s briefly go through a number of important factors to consider when picking an online trading brokerage and to know whether your preferred online brokers are reputed enough.

• Check if your online broker has a history of at least 2 years.

• Check whether your online broker has a reasonable sized customer support of at least 15

• Does the online broker fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes?

• Check if your online broker has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.

• Does your online broker have an international presence in multiple countries. This includes local seminar presentations and training.

When deciding to trade and find a suitable United Arab Emirates-based broker, if you wish your broker to be located in your area, ensure they are governed and regulated by the relevant authority.

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• Make sure your online broker can hire people from various locations in the world who can better communicate in your local language.

• It is not essential that your brokerage is local but they must have regulation from a Tier 1 reputable country. Tier 1 corresponds to the World Bank’s list of high income nations

• In fact the broker’s international presence could be of more value than just their presence in your local region.

• When deciding to trade and find a suitable United Arab Emirates-based broker, if you wish your broker to be located in your area, they are governed and regulated by the below.

The Dubai Financial Services Authority
Abu Dhabi Securities Exchange (ADX)
Dubai Financial Market (DFM)
Central Bank of the United Arab Emirates

Now that we have covered a quick and basic checklist, let’s go a bit further in detail of what you should check when choosing a broker.

Broadly speaking, to evaluate brokers, you should primarily look at account minimum, account fees, commissions, promotions and last but not the least – what is you trading style and what platform best suits your style.

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Know your commissions

Trading platforms or brokers generally offer a similar menu of investment options: individual stocks, options, mutual funds, exchange-traded funds, and bonds. Some will also offer access to futures trading and forex (currency) trading.

The investments offered by the brokerage will decide two things for you – whether your investment needs will be satisfied, and how much you’ll pay in commissions.

Pay close attention to commissions associated with your preferred investments

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• Individual stocks: Although some brokers still charge a commission to buy and sell stocks, either per trade or per share, there are several US-based brokers that now charge no commission, like Interactive Brokers, TD Ameritrade and E-Trade. These have turned out to be popular options for investors on a global scale, but not accessible for traders in the UAE. Broker ADSS said it does not charge a commission.

• Options: Options trades often incur the stock trade commission plus a per-contract fee, which usually runs between $0.15 to $1.50 (55 fils to Dh5.5). Some brokers charge only a commission or only a contract fee, and this largely depends on your trading volume.

• Mutual funds: Some brokers charge a fee to purchase mutual funds. Transaction costs are typically charged as a flat fee that can range from $10 to $75 (Dh37 to Dh275). You can limit mutual fund transaction costs or avoid them completely by selecting a broker that offers no-transaction-fee mutual funds like Vanguard or TD Ameritrade, but check if you can avail those platforms. (Mutual funds also carry internal fees called expense ratios. These are charged not by the broker, but by the fund itself. The funds will state that clearly, which can be at the most 0.7 per cent of your investment. Anything more than that would be considered high.)

#TIP

You can limit mutual fund transaction costs or avoid them completely by selecting a broker that offers no-transaction-fee mutual funds like Vanguard or TD Ameritrade, but check if you can avail those platforms.

• ETFs: ETFs trade like a stock and are purchased for a share price, so they are often subject to the broker’s stock trade commission. But many brokers also offer a list of commission-free ETFs. If you plan to invest in ETFs, you should look for one of these brokers. Vanguard’s VWRD stock exchange-traded fund (ETF) and iShares IGLO bond ETF could be all you need, diversifying your money across 2,900 global stocks and 700 global bonds through just two products.

• Bonds: You can purchase bond mutual funds and ETFs at no charge by using no-transaction-fee mutual funds and commission-free ETFs. Brokers may charge a fee to purchase individual bonds, with a minimum and maximum charge.

Beware of account fees

You may not be able to avoid account fees completely, but you can certainly minimise them. Most brokers will charge a fee for transferring out funds or closing your account. If you’re transferring to another broker, that new company may offer to reimburse your transfer fees, at least up to a limit.

Most other fees can be sidestepped by simply choosing a broker that doesn’t charge them, or by opting out of services that cost extra. Common fees to watch out for include annual fees, inactivity fees, trading platform subscriptions and extra charges for research or data.

Close eye on account minimums

You can find highly ranked brokers with no account minimum on the DFM website, as indicated above. But some brokers do require a minimum initial investment, and it can skew toward $500 (Dh1,836) or more. Some funds providing lower minimum options were Forex.com, XM.com, FXTM, eToro, with minimums varying between from $50 (Dh183.65), $100 (Dh367.30) and $200 (Dh734.60).

Many mutual funds require minimum investments, which means even if you’re able to open a brokerage account with a small amount of money, it could be a struggle to actually invest it.

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Many mutual funds also require similar minimum investments, which means even if you’re able to open a brokerage account with a small amount of money, it could be a struggle to actually invest it.

Promotions can help you decide

Online brokers frequently entice new customers with deals, offering a number of commission-free trades or a cash bonus on certain deposit amounts. It isn’t wise to choose a broker solely on its promotional offer — a high commission over the long term could easily wipe out any initial bonus or savings — but if you’re stuck between two options, a promotion may sway you one way or the other.

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Personalised trading style, tech needs

If you’re a beginner investor, you probably won’t need an advanced trading platform. But you may want an education and a little hand-holding. This could include videos and tutorials on the broker’s website, or in-person seminars at branches. Many brokers offer these services free to account holders. Many brokers offer educational resources for new investors.

Active traders, on the other hand, will want to look for a brokerage that supports that kind of frequency. That includes studying a broker’s trading platforms, analysis tools, research and data offerings in addition to commissions — including discounts for high-volume traders — and fees. Plenty of high-quality online brokers offer access to trading platforms, tools and research for free, so beware of brokers that nickel and dime each feature; those costs can add up quickly.

Plenty of high-quality online brokers offer access to trading platforms, tools and research for free, so beware of brokers that nickel and dime each feature; those costs can add up quickly.

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Some tips before starting!

• Find what suits just you: Don’t choose a platform only because it is recommended by others. Always choose a platform basing on your personal needs. Evaluate the information, talk to your broker, consider his/her experience, and pick the most suitable for you platform.

• Choose user-friendly interface: Find out whether the chosen platform is comfortable enough to work with it daily. All features and functions must be easy and understandable for you. For example, look at the platform and decide whether you like it at first sight or not. If the answer is ‘No’, then definitely check something else. Of course, in the future, you will have to learn the details of any platform to work with it professionally. But basic buttons and options should be understandable for you immediately after opening a board. Don’t forget to check the graphics too.

• Platform stability: Make sure that the platform works well and is stable and does not show frequent ‘technical glitches’ or ‘errors’ when you trade. You have to be sure that a performance of a platform will be stable and smooth. This is one of the most important things in trading. As it’s told, time is money and every moment you lose could prove expensive. This can be achieved by trying it out, or using a ‘demo account ‘ – a service provided by most accounts where you can learn by trading fake money.

• Core functionalities/features: A platform should assist your current trading strategy. You don’t need to care about a lot of features, when you are starting out. If you are going to upgrade it in the future, you will be able to do it anytime. A sophisticated platform is a good choice for those traders, who use all the features of that platform in real time. Otherwise, it will only complicate your trading experience. If you are not sure whether a chosen platform is too sophisticated or not, test how many functions you are going to use daily. The answer should be 80 per cent at least. For beginners, it is always better to start with something simpler to learn faster. Thus, you will show better progress in less time.

• Equipped to help: While keeping the above points in mind, you need to also keep in mind that your broker should be equipped to work with a platform which you are going to choose. It’s not just you but also the backend team that should know the platform well.

Now you’re ready to pick a new trading platform!

Broker Reviews

Sollari Review – top 75 Broker ?

Table of Contents

Sollari Review

Sollari is a global forex and CFD broker with trading platforms that is suitable and fully functional for all devices.

This is a good option for all levels of traders, although the product portfolio is average, and there is an inactivity fee to be aware of.

Initially formulated in 2023 to provide a robust forex trading platform, Sollari offering to include CFDs, indices, shares, commodities, and cryptocurrencies.

Sollari has several trading tools and features designed to make your trading experience as smooth as possible. The trading platform, has been heralded as a simple and convenient platform without losing the functionality you would find at MetaTrader 4. Some education is also available through the trading platform, and highly responsive customer service is available 24 hours a day.

Please read my full Sollari review for further details of this forex broker so you can decide whether Sollari can meet your needs.

Who is Sollari?

Sollari is a global forex, spread betting, and CFD online broker. Sollari is an online Crypto and Forex Broker providing traders across the globe with cutting-edge technology to trade the world’s markets. In a continuous effort to give their traders a more comfortable and safe trading experience, their experts have been improving their service and solutions ensuring traders have the freedom to trade whenever and wherever they like.

They are headquartered in Kingstown, St Vincent and the Grenadines. with offices in Milan, Nassau, Sofia, and Luxembourg and are authorized and

Sollari product range overview

The product range at Sollari is average compared to other brokers. They offer a solid selection of currency pairs and CFDs, no futures CFDs, and an average number of commodity and stock index CFDs. additionally they do offer leverage trading on the main cryptocurrencies.

Sollari Range of Market

Forex trading

More than 50 Forex pairs are available at Sollari with no commission and some of the tightest spreads in the industry.

Indices and Financial Trading

Indices and financial CFDs have flexible margin requirements and low spread , representing some of the industry’s best spreads. There are no overnight or hidden fees of any description to worry about.

Commodities Trading

At Sollari, there are several commodity CFDs, including metals and energies.

Share CFDs Trading

Trade more than 100 company shares without ever owning the underlying security. At Sollari, you can access global stock exchanges with the option to go long and short and benefit from leverage. For non-leverage trading, there is zero commission.

Sollari Accounts

There are five trading account options at Sollari. Of note are the Professional Trading Account and the Islamic Trading Account. There is also a free demo account from where to practice your trading.

Free Demo Account
You can select from the free demo account which platform you would like to practice trading on their trading platform. You will immediately receive $100,000 of virtual funds, which can be used to familiarise yourself with the financial markets and forex and CFD trading.

Islamic Account
This is a Shariah-compliant Islamic account which includes many features that are in keeping with Sharia law.

See here the overview of all the accounts.

	BASIC ACCOUNT	STANDARD ACCOUNT	GOLD ACCOUNT	PRO ACCOUNT	VIP ACCOUNT
MINIMUM DEPOSIT	$5,000	$10,000	$25,000	$100,000	$250,000+
ORDER EXECUTION	Instant	Instant	Instant	Instant	Instant
ACCOUNT CURRENCY	USD, EUR, GBP	USD, EUR, GBP	USD, EUR, GBP	USD, EUR, GBP	USD, EUR, GBP
ACCOUNT MANAGER	yes	yes	yes	yes	yes
SPREAD, PIPS	Fixed	Fixed	Fixed & Floating, Variable	Fixed & Floating, Variable	Fixed & Floating, Variable
QUOTATION (NUMBER OF MARKS AFTER POINT)	5 marks	5 marks	5 marks	5 marks	5 marks
LEVERAGE	100	100	200	500	500
MAX. TRADE SIZE	10 lots	20 lots	40 lots	50 lots	100 lots
REQUOTES	None	None	None	None	None
MARGIN CALL LEVEL	40%	40%	40%	40%	40%
STOP OUT LEVEL	30%	30%	30%	30%	30%
TRADING PLATFORM	all devices	all devices	all devices	all devices	all devices
CUSTOMER SUPPORT	24/5 support	24/5 support	24/5 support	24/5 support	24/7 support

Sollari Trading Platform

Sollari provides a web, desktop, and mobile trading platform on their trading platform, which is provided by the High-tech software provider “easytech”.

This trading platform has an excellent reputation among traders.

Sollari Trading Platform

web trading platform

The web platform allows you to place trades directly from your web browser in an easy-to-use interface that is customisable and available in several languages. The web trading platform falls short because of its lack of social trading; however, it is well-designed with several useful features.

There is a two-step login for additional security, and you can search for an asset using its name or by category. Order types include:

I was impressed with both the portfolio and fee reports which were comprehensive and easy to use, with clear information on commission, swap fees, and performance.

There are also the following useful features available on the trading platform:

Trailing stop

Trailing the position of a current price can then trigger a stop order as the price reaches a predetermined distance from a stop order. It works similarly to a stop order but in a more controlled way that aligns with movements in the market.

Market Sentiment

This allows you to closely monitor movements in the market using data from other traders concerning a specific instrument.

Hedging

This allows you to mitigate risks by investing in the same product in a different direction.

Charts

Real-time charts provide up-to-the-moment information, including historical trends, forecasts, and current trends.

Sollari mobile trading platform

The mobile trading platform is in keeping with the web trading platform, with much of the same functionality.

The actual design is well laid out and easy to use with customizability. I found the mobile app fast with personalised watch lists and the ability to open positions directly from real-time charts.

There are price alerts that include statistical alerts, which can be monthly or yearly for currency pairs, indices, etc. Clicking on the alert will automatically open the app on the instrument.

Sollari desktop trading platform

Use the desktop platform. This platform is designed with professional traders in mind, leaving the webtrader as an alternative for beginners and intermediate traders.

There is excellent customizability, some good search functions, and a choice of several languages.

There are several tools and technical indicators designed to enhance your trading activity.

Sollari customer service review

Customer service is excellent at Sollari, with immediate response times across multiple channels.

There are several channels for contacting customer support, including phone and email. When I tested their service, my query was dealt with immediately without even the intervention of a chatbot. The service provided via email and phone was similar, with fast, relevant responses to my queries. Customer service is provided 24/5, which is above average.

Sollari is opening an account.

The account opening process is straightforward, fully digital and quick. You will need your ID.

To open your account, you should first decide on the account type you wish to open

Then you can follow these quick and easy steps:

Select your country of residence
Add personal information, including name and email address
Choose a password
Enter your home address and tax residency
Complete some simple questions relating to your trading experience
Fill in information pertaining to your personal finances, such as income and savings and employment status
Select your base currency
Upload your ID documentation and proof of address, such as a utility bill or bank statement.

Sollari Deposit and Withdrawal

Deposits and withdrawals and essentially free, and the minimum deposit is high compared to what you would find at other brokers.

Before making your first deposit, you will need to choose between the following base currencies:

EUR, USD, GBP

Deposit options include:

Bank transfer
Credit and debit card
Cryptocurrency

The minimum deposit is $5000, which is high compared to other brokers. There are no fees should you choose to deposit via bank transfer from your bank account.

Bank transfers take several business days.

Withdrawals can be made using the same methods accepted for deposits, and there are no withdrawal fees for electronic wallets and credit/debit cards.

Sollari safety

Sollari is not regulated by the Financial Conduct Authority (FCA) but is performing full due diligence to comply with AML regulations.

In addition, all client funds are held in segregated bank accounts to protect those funds should Sollari go bust.

The Sollari negative balance protection protects client funds should their balance go negative.

Sollari fees

Sollari has low CFD and forex fees and average non-trading fees.

Fees can be separated into two main categories for a CFD and forex broker: trading and non-trading fees.

Trading fees

The trading fees will vary depending on the financial instruments you are trading within each asset class. Trading fees can be charged as a spread, a commission, or a financing rate.

Spreads differ between the bid and ask price for a foreign currency price. Here’s how Sollari spreads compare against some other forex brokers:

Non-trading fees

Sollari has low non-trading fees as they do not charge deposit and withdrawal fees, and there is no account fee.

Inactivity fees are charged. There are inactivity fees to be aware of. However, these will only kick in once your account has been inactive for several months and you have a positive balance.

Who is Sollari suitable for?

Sollari is suitable for all levels of traders looking for a solid trading platform and very competitive spreads.

The selection of account types is aimed at both retail and professional investors.

Demo Trading

The Advantages and Negatives of Forex Demo Trading

Table of Contents

Intro to Fx Demo Trading

Despite the placement as the planets greatest monetary market, the forex marketplace only became easily available to retail traders in latest years because of the introduction of sites based trading via on-line forex brokers.

Aspiring forex investors can right now make use of digital trading systems – like the extremely well-known MetaTrader software program
(offered as a free of charge download by MetaQuotes Software program Company ) to access the large forex market thou they might trade only in very small amounts themselves

The majority of on the web brokers will support MetaTrader and could also provide their own proprietary platforms or web-centred dealing interfaces.

These types of systems typically enable traders to do a quick overview of the currency marketplace and maybe carry out some specialized evaluation, in addition to permitting them to gain access to trading necessities like purchase access and deal delivery for a wide selection of foreign currency pairs.

free of charge fx practice account

Like a common way of motivating forex investors to use their offer setup solutions and first deposit funds with them to make use of as trading accounts perimeter, many online forex brokers will offer a free of charge fx practice account to potential or existing clients.

Referred to as a forex demonstration accounts, such unsecured debts enable a trader to encounter a hands-on demo of what seems prefer to trade currency pairs in the forex market with this broker without placing any actual money at risk.

Although using a FX trading demo account has several benefits for traders, some tricks are well worth talking about because the technicians of getting into a demonstration operate and the producing emotional responses an investor can possess while controlling it can differ significantly from the encounter of live forex trading utilizing their personal hard-attained money.

Additional common demonstration accounts circumstances which make them vary considerably from an actual cash financed account include broker-imposed period limitations and set debris of virtual foreign currency.

The subsequent areas of this content will talk about starting up an on the web trading demo accounts, in addition to probably the most significant benefits and negatives of using a demonstration forex account in comparison to utilizing a live fx accounts for trading foreign currencies.

Starting Up a Free of charge Forex Demonstration Account
Simply about any trustworthy fx broker will allow potential and current customers to open up up a demo account with them free of charge to enable investors to practice currency trading using digital money.

Demo accounts traders frequently also get access to at least a few of the broker’s customer providers and consumer support personnel to ensure that they can obtain a much better feeling for what coping with the broker will end up being like when they determine to finance a trading account with genuine cash.

Investors desperate to open up a demonstration trading accounts can typically get around to the site of one or even more forex demonstration brokers and adhere to guidelines shown there for opening up a demo or practise account with the brokers they select.

Selecting the greatest fx demo accounts for your requirements might require critiquing those provided by a number of online brokers with different features in order to make an knowledgeable decision which broker is the best partner for your start.

When starting a demonstration account, you may even require to choose a quantity of virtual money to fund the demonstration accounts with and get into some personal data to determine yourself with.

In case you feel worried about offering your true personal data to a broker you are will to try not really you have more freedom as no documentation is required for this in general, the moment you open a real account your KYC documentation will be needed for compliance and this protects the broker as well as the traders from money laundering and fraud.

You can also open up a new e-mail account to get communications about the demo forex account if you are concerned about getting your personal email address offered to third celebrations like digital email entrepreneurs.

Pros of Forex Demonstration Trading Demo_trading_advantages

The two beginner and experienced forex investors regularly make use of demo accounts to rehearse trading currencies and check out a fresh broker or trading strategy.

Some of the more common advantages of interesting in forex demo trading consist of the following:

Observe if You Like Trading Foreign currencies

Those fresh to trading foreign currencies or trading generally can use an fx demo accounts to find if they are psychologically and psychologically appropriate to the bustle of trading forex. Everyone is usually different, and some people might actually appreciate trading currencies, as the activity might not match others’ preferences, personas or lifestyles at all.

Operate Forex without Risk Whilst Learning or teaching how to trade

– Beginners who are still learning how to operate foreign currencies frequently experience substantially even more assured putting their real cash in danger in the marketplace if they have an opportunity to try points away from 1st. A demo account allows them to place their training into practice in a near to actual existence environment without placing their genuine money at risk. This enables those to make common beginner’s mistakes while they find out without needing to spend for the effects out with their very own bank.

Practice Great Cash Administration Methods –

One of the secrets to taking pleasure in long-term success when trading forex requires learning to apply well-established cash administration concepts. A demonstration accounts allows a brand-new or skilled trader to practice such methods completely on true exchange rate actions and see on their own how the common benefits accumulate to their demo account in digital money earnings.

Find out to Control Your Feelings When Trading –

Probably the most difficult elements of trading for many people consists of learning how to control their psychological reactions to earning and shedding deals in such a method that it stimulates overall success. Dealing properly with normally regular mental replies to producing and losing cash – such as dread, avarice and wish – can often differentiate the effective fx investor from the loss.

Check a fresh Trading Technique Without Jeopardizing Actual Money –

Smart experienced traders and beginners as well will generally wish to check the achievement of any new trading technique they arrive plan before applying it in a live trading environment. This kind of enables them to accustom themselves to pursuing the program and also to function out any insects in it that may become obvious while using it as real exchange price movements happen.

Try Out a New Broker’s Trading System –

Unless you are utilizing the Mt4 system that a great deal of on-line forex brokers support, you will most likely want to make use of a demonstration accounts to observe whether a fresh fx broker’s private internet or client structured trading platform is usually ideal for your trading requirements.

Examine if a Fresh Broker Offers Useful Features and Solutions –

Fx Brokers keen to possess you open up a live trading account with them will frequently provide demonstration investors gain access to their unique customer features, educational and information services, and customer support departments. This can be a great method to examine your quality of the broker’s general solutions before carrying out any actual trading money to ensure they are the type of trading partner you will need keeping your accounts.

Broker news

Donald Trump blasts ‘fools’ who oppose good Russian ties

US President-elect Donald Trump has posted a progression of tweets censuring the individuals who contradict great relations with Russia as “‘dumb’ individuals, or nitwits”.

Mr Trump promised to work with Russia “to comprehend a portion of the numerous… squeezing issues and issues of the WORLD!”

His remarks came after an insight report said Russia’s leader had attempted to help a Trump race triumph.

Mr Trump said Democrats were to be faulted for “gross carelessness” in permitting their servers to be hacked.

In a progression of tweets on Saturday, Mr Trump said that having a decent association with Russia was “no terrible thing” and that “lone “idiotic” individuals, or simpletons, would believe that it is awful!”

He included that Russia would regard the US increasingly when he was president