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“Which investing platform should you be using?”
The answer, for us, is simple – but there are several factors to take into consideration when choosing the best platform for you.
Questions to Ask Yourself:
- How safe and secure is the platform?
- Is it regulated?
- What are their fee structures?
- How easy to use is the platform?
- If your main aim is to invest in cryptos, then these questions are even more important to consider, especially because the crypto space is still so new and volatile.
- In other words – investing in cryptos is definitely riskier, however, the rewards are more frequent than with stocks.
- The prospect of achieving a higher turnover of profit is of course, the main attraction for investing in these assets.
Being Crypto Savvy!
- Choosing your platform for investing and trading cryptos needs to be done carefully because one of the big considerations is where to store your coins.
- This has become crucial because of recent events and scandals involving crypto exchanges only last year.
Billions have been either hacked or fraudulently syphoned off some of the best-known and established exchanges such as Binance and FTX.
It has been our recommendation for some weeks now that people should take most of their cryptos off the exchanges and store them in hard wallets instead, for safety sake.
What To Look Out For?
You probably know the answer straight away – SCAMS.
Unfortunately, it is the way of the world right now.
Cybercrime is everywhere!
Which is why doing thorough research is so important, wherever you may be looking to invest.
Check the platform, then check again. Keep checking and cross-reference.
Take note of reviews… but don’t be fooled by them.
As we like to say here as part of our trading course, if it is too good to be true, it probably is!
So Which Platforms Do We Use???
Before we answer that, please note that this is just what we do, this is not advice we are giving.
We always stress that it is important for you to do your own research and make your own decisions.
After all… it’s your money!
Okay, moving on…
Our Top 3 Crypto Trading Platforms:
The top three exchanges we use here at Investment Mastery are:
- Binance
- Coinbase
- Kraken
However, it should be noted we only keep a small percentage of our coins on these exchanges.
The rest we have in hard wallets.
We use https://www.ledger.com/ for wallets.
Our Top 3 Stocks Trading Platforms:
There are many well-established fund management companies. Some even go back to the late 1700s!
For us, the top three stocks trading platforms are modern, digital and interactive:
- Etoro
- Interactive Brokers
- IG.com
Fees apply WITH Interactive Brokers and IG.com, but these are incredibly low compared to other platforms. Your funds will be managed for you, which may be reassuring.
Whether they make you any money is another question (which we can’t answer!)
Saving the BEST till Last!
We have highlighted which we believe are the three best crypto trading platforms and three best stocks trading platforms, but there is one that we believe tops the lot, and that is…
eToro:
We like eToro because it ticks all the main boxes as itemised in our intro above.
- eToro is easy to use
- It is regulated, which means it is safe and secure
- It deals in both stocks and crypto trading and investing
- And, best of all… their fees are super low
- Plus… you can use eToro as an app on your phone so you can trade anywhere in the world!
And before you ask… no, we are NOT sponsored by eToro!
We are just answering the question we get a lot – for US, eToro is the best trading and investing platform.
Whether it will be for you is for you to find out, should you go with them.
But whether you do or not, is YOUR decision.
Takeaways:
The #1 thing to remember is you need to be sure where you invest is right for you.
For instance, you may feel happier investing with an interactive broker that makes decisions on investments for you.
That’s perfectly fine – but you will pay higher fees and there may be all sorts of terms and conditions to be aware of.
It’s all about your attitude to risk and how much you can comfortably invest.
Whichever platform you do choose, we wish you all the returns possible!
About Investment Mastery:
In case you didn’t know, Investment Mastery is the world’s fastest-growing trading and investing education/training company.
You can find out more about how it all works with trading and investing for FREE when you subscribe to IM Insider.
It gives you access to so many ways to start getting into stocks and cryptos and other assets.
Plus many ways to learn about online trading with access to an online trading course.
