A comprehensive trading platform can help with your CFD share trading efforts.
Quality platforms like MetaTrader 4 (MT4) and IRESS, both of which are available with TMGM, provide advanced trading and analytical tools. Firstly, these platforms allow you to back-test strategies and select indicators that give trading signals. Secondly, they let you manage trades and select the right placement points for your risk management tools.
Risk management via stop-loss orders is essential when trading with leverage, which you commonly do with CFDs. A stop-loss is an automatic exit point that is triggered when your position reaches the maximum allowable loss.
These platforms offer advanced features, such as automated trading or placing trades directly on the chart page. Even if you do not plan to use these when you start your CFD trading shares career, you will likely utilise some of them as you gain more experience and adopt advanced strategies and techniques.
Frequently Ask Question
When starting, you should select a platform (MetaTrader 4 and IRESS are excellent options) and ensure you know how to place orders, read charts and indicators, and use risk management tools.
So, if you are an active trader with limited capital, CFDs are better than stocks for your goals.