How to Become a Day Trader in the UK
If you want to become a day trader in the UK, the best strategy is to follow trend trading practices and set your take profit orders. IG Futures and ProRealTime are two of the most popular day trading platforms. You can learn about both of them by reading this article. If you are already familiar with the basics of day trading, you can skip ahead to the next section for an in-depth guide to these platforms.
IG is a popular day trading platform
IG has a simple account-opening process. You don’t need a minimum account balance to open an account. Instead, you pay a small fee for each trade, depending on the spread. To get started, you’ll need to provide some basic personal information and pass a financial knowledge test. After you’ve completed the required information, you’ll have to verify your residency and ID.
You can upload your passport or driver’s license. You can also upload bank statements or utility bills to verify your residency. IG also offers a range of investment products, including iShares ETFs. IG offers these portfolios automatically, and you can even choose between vanilla and trade barrier options. In addition to CFDs, IG also offers several real stocks. While IG is predominantly a forex and CFD broker, it
does offer stocks to some countries. These can be traded 24 hours a day, seven days a week.
The IG mobile app lacks predefined watchlists and screeners, but the charts are still great. They sync seamlessly with the web platform. Additionally, users can save chart templates and apply them to their mobile charts. You can even drag your stops and limits for easy reference. A small drawback is the lack of predefined screens. IG is a popular day trading platform in the UK.
The IG community has a wealth of educational content. There are several trading guides, including those aimed at beginners. There are also five guides for advanced traders. All of these tools are well designed courses, and IG gives you a way to track your progress. You can also sign up for the IG Academy, which offers eight courses organized by experience level. The courses include lesson summaries, video content, and interactive elements.
The IG trade platform offers two options: the MetaTrader4 and L2 Dealer platforms. The latter offers Forex Direct Market Access for shares. The MT4 platform has a limited product offering and requires a $1,000 minimum deposit. The L2 Dealer offers a much wider product range and offers the ability to use advanced algorithmic order types. IG also offers demo accounts, which you can practice on without spending a cent.
Withdrawals are fast and convenient. Withdrawals to cards and PayPal take two to five business days, while bank transfers are usually processed the same day, but can take up to three days depending on your bank’s processing details. You can test the platform before you begin trading with real money by opening an IG Index practice account, which allows you to trade with PS10,000 of virtual cash. IG occasionally offers welcome bonuses and free trading capital for your first deposit.
In addition to offering leveraged trading, IG offers forex, CFD, and spread betting for its U.K. clients. It also has an award-winning mobile app with advanced trading tools and a convenient margin calculator. IG’s app also allows you to set up personalised watchlists to keep track of your trades. You can also access your account from your mobile device, and get alerts for any events that impact your chosen financial instruments.
IG’s educational offerings are excellent. They are already a leader in this field. However, it might be beneficial to consolidate content from the IG Academy mobile app into the main IG Trading app. This would make the educational materials more accessible and give you the opportunity to learn more advanced trading strategies. And of course, IG already offers a wide range of research tools and brilliant tools. They have access to almost every global market and over 19,500 tradeable assets.
If you’re new to trading on the forex market, you’ll want to get familiar with the features of ProRealTime Day Trader UK before you start your trading journey. This software offers trading from charts, orderbooks, and forex signals. Professional traders use it to analyze and plan trades, and it’s easy to see why. ProRealTime works with the three main exchanges in the UK: the FTSE, the NYSE, and the NASDAQ.
It is also regulated by the FCA and is listed on the London Stock Exchange. IG is also a popular trading broker, and they’re known for being responsive and helpful. The software allows users to trade with real-time prices from Euronext, and it also features advanced technical analysis.
It offers a variety of trading platforms and is compatible with a range of devices, including PCs, Macs, and Linux. It offers a free trial for professional customers for four transactions per month, after which it requires a PS30 monthly fee. However, the free trial is only valid for professional customers, so if you don’t need access to the software, you can opt for the paid version, where you can have unlimited access to all features.
ProRealTime Trading has a simplified account opening process. While it is affiliated with IG and Interactive Brokers, it offers independent trading platforms that are compatible with other platforms. It also offers dedicated account managers, as well as individual training sessions. The latter’s delayed time access is suitable for medium-term trading, as it allows users to trade more effectively. The service is also available for beginners and experienced traders alike.
Opening an account with IG Options is easy and quick. Registration takes five to ten minutes. You can fund your account using credit card, PayPal, or wire transfer. IG accepts six different base currencies. Unlike many brokers, you cannot choose your currency at the time of account registration. To verify your residency, you must contact IG Customer Service. IG also requires you to wait at least three business days for verification.
IG Options offers both a free demo and a live demo account. The platform has a toll-free customer support number for UK residents and provides live chat during open hours. Additionally, IG offers a comprehensive FAQ as well as a customer complaint procedure. IG also operates satellite offices in a number of different regions to serve their international customers.
The service is also available 24/7. IG’s range of markets is similar to that of its U.S. counterpart. It offers nearly 20,000 CFDs as well as forex and other exchange-traded products.
The company also offers CFD shares and forex through an L2 Dealer, which allows clients to trade direct with the market. However, to become a day trader in the UK, you must hold a professional designation.
IG also provides a vast array of quality market research, including in-house broadcasts and third-party research. Their extensive research section has articles covering hundreds of topics.
They also have an educational portal with in-house videos covering major currency pairs and other market events. There are also multiple live webinars where you can build your trading skills. They provide real-time news, market analysis, and analyst picks.