We get a lot of questions from people who want to learn how to trade CFDs. They've heard about the possibility of making high profits, and the freedom of being an independent investor, and want to find out more. Just like anything else in life, CFD trading has its pros and cons, but once you've mastered the basics, there's nothing especially complicated about CFD trading.
We'll take a look at Opteck as an example of how to trade CFDs effectively. Opteck is probably the best online broker that we've seen so far and is the site where we do most of our trading. One of the big attractions is the new Opteck platform, but we're also impressed by their customer service ethos.
The Opteck Checklist
- Well established and well-respected broker
- Regulated under European law
- Fully secure trading
- Highly competitive payouts
- Wide range of global assets
- 24-hour multi-lingual customer service
- Fast and convenient account management
The New Opteck Platform
The new Opteck platform keeps all the best features that made the old platform such a hit with traders. It also has loads of new features that exploit recent advances in technology. You can trade around 1,000 assets as CFDs either with your computer or via the free mobile app. The overall design is well thought out and is completely focused on trading. There are no unnecessary distractions on the Opteck platform and you have all the live charts and data for professional technical analysis. There are also new tools that help you to analyze your trading history and optimize your trading strategies.
Forex Trading TipsThere are some simple tips that can help you learn how to trade CFDs and continue to improve your investment skills.
- Visit the Opteck Academy before you even think about opening your first trade. The Academy is free and is packed with high-quality learning resources.
- Check out Opteck on YouTube. It's also free and the films are full of useful trading information. You can also connect with other traders and get their feedback and forex trading tips.
- Establish your financial goals before you begin trading. Set a trading schedule and invest systematically.
- Trade strategically. Find the combination of strategies that fits your trading style and targets. Opteck's webinars and 1on1 tutorials can be a big help here.
- Determine your risk level. You can save a lot of grief by deciding in advance how much risk to take. It's better to initially take lower risks and aim for lower profits. The Opteck education center explains risk management in detail.
- Accept losses. It may sound counter-intuitive, but it can pay to accept losses. They are inevitable sometimes, even for experts. Top traders use their losses to improve their understanding of the markets and fine tune their trading strategies.
Opteck on YouTube
We recommend checking out Opteck on YouTube. It's a convenient and enjoyable way to learn more about how to trade CFDs. You can also access the video courses section in the Opteck education center as soon as you are a registered user.