I wouldn't say it's a bad industry, but brokers put a lot of game behind the market. Would only suggest brokers with well-known regulations in your region. You gotta play with demo for sometime before you're confident to trade. Regarding broker, for me, Fxview is a good option (in europe). Commissions and spreads are much better with them.
So you’re saying people should only trade stocks? What about something other than CFDs like cryptos or forex?
I have been spreadbetting for 17 years. The tax-free status of UK spreadbetting makes it the winner over CFD's if you have a consistently profitable strategy.
I agree! CFDs have a higher cost per trade and it is way better to go with other options. Stocks are also good to trade. The volatility is high though.
I think everyone can best describe their investment choice. Whichever market one better understands, it’s always wise to go for that segment. Like I prefer trading forex and I find it to be an interesting way of making money. I was into stocks earlier but after all my long term trades nosedived with the stock market crash, I turned my attention towards EURUSD and EURJPY. Technical analysis works beautifully here, I have sort of made up for what I lost in the stock market with my currency trading with IG and Fxview.
Idk, I prefer CFDs as they are pretty easy to execute. There is a lot of variety with them and I’m more of a commodity trader so they suit me well.
Exactly! I also trade forex with multiple brokers including avatrade, ib, fxview, saxo bank and my trades are turning out good day by day. You’ve missed out on the cost of trading which is very low with forex. Stocks are pretty risky in my view. But the platforms I mentioned have overall decent trading conditions, could work well for CFD traders too.
Another real advantage with CFDs is that you can trade a lot smaller positions without the penalty of a percentage wise high commission. I trade a very high volume of trades, where some of them are are worth just a few hundred USD. That strategy would have lead to bankruptcy within short, if I had to pay a dollar or two in commission per trade.