Trading is one of the top ways to increase wealth and enable you to live the life you have always dreamt of. While it can be a slow accent to the top, the right tools and strategies can make the process much more bearable. However, not everyone has access to suitable trade-specific instruments, and if you live in certain regions, you can find yourself cut off from the markets you want to trade in. Fortunately, where theirs a will, there’s a way, and unless you happen to live in North Korea, there are usually platforms available to most people. If you reside in Latin America and have a desire to trade stocks, FX, precious metals, or other commodities, there are options for you. We will explore the top three platforms that residents of this region can use to accumulate enough money to achieve financial freedom. Moreover, you will learn about some ways to protect yourself while you are trading.
Fibogroup has a range of platforms to enable all skill levels, from seasoned pros to those at the beginning of their adventure. Their most popular platform, ctrader, gives intrepid traders access to the most liquid markets, including forex and CFDs. What sets it apart from its peers is that it gives you a plethora of instruments to use during your analysis. As all experienced investors know, analysis, whether it be the fundamental or technical variety, will give you an edge in the markets and enable you to trade based on raw data rather than emotion or gut feelings, both of which are the antitheses of profitable trading.
eToro has been around for a while and is a popular choice for those with less experience in specific markets. It gives access to a vast range of tradable derivatives, from conventional stocks (including those of different countries) to crypto.
Interactive Brokers is an excellent choice for more advanced traders, even if it doesn’t offer everything that Fibogroups offerings do. While you can utilize leverage to increase your gains, it can financially destroy those without experience, which makes it inappropriate for newcomers.
How To Stay Safe
Easy come, easy go, so says the well-known phrase. This is true of a number of activities but is particularly pertinent regarding trading. Therefore, when you begin making trades, you should follow a few rules that will reduce your risk and keep your bank manager happy:
- Use a secure trading platform: A properly secure platform will keep your assets safe and ensure that you can focus on the act of trading.
- Research pays dividends: As already stated, research is essential if you want to make money more often than not. The more effort you put in at this stage, the more likely you will come out of a trade successfully.
- Use stop-loss orders correctly: A stop-loss order is a type of advanced trade order that helps limit potential losses on a position in a security. It allows traders to specify that a position should be automatically sold when the price drops to a predetermined level. It can save you considerable stress and anxiety because you don’t have to remain glued to a screen.
If you are an ambitious Latin American person who has been looking for platforms to trade on, you won’t go far wrong with those mentioned here. As long as you heed the advice in the latter part of the post, you will have an auspicious future in the game.