Compare Online Trading - Which One is Best For You?

Most of us are familiar with various online trading platforms and charting software packages, most of which are complex and overwhelmingly difficult to use. In addition to that, we also need to make sure that we do use the best, most suitable broker. There is no way to tell if a broker is suitable for day trading or swing trading just by looking at their trading platform, so who can we ask for advice?

The best we can possibly do is find a trading mentor, one that will provide us with impartial trading education and valuable guidance in choosing the right broker. The problem with many so called trading educators today, is that they simply do business with any given broker. And deep down, all they want is to teach you nonsense. That is usually a high frequency trading system that makes the broker a lot of profits in commission charges.

That's not what you want as a trader, rather you have to stick with the best out there, real market mentors who will let you choose among the best of the best, both a charting package and a broker. These real trading mentors are impartial, and their trading system has nothing to do with what the broker wants. They do however take into account certain brokers' weaknesses, such as delays in filling orders, bad filling price, slippage and any kind of suspicious behavior.

Don't let anyone influence you with their self serving ideas. I have seen brokers for example who charge very high commissions and other who charge much, much lower commissions, one has to think however, ok commissions are a big operating cost in the trading business, but is not the biggest concern. What if the low cost broker ruins your trading by filling you at a very bad price? You saved $10 in commissions but you actually lost $100s because of the bad filling price, so really, you could have been better off sticking with an 'expensive' broker after all!

This kind of cunning broker behavior is more evident in day trading than longer term trading. This is where you test if the broker is good or not! And please note, don't bother with simulated, virtual money trading, only real money trading can reveal the real nature of each broker. And being in the futures business, you really have to realize that commission costs is really a minor detail, as long as everything else works fine, don't trade off execution speed and quality for anything else, it's not worth it.