How to Become a Trader [Guide 2021]

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Published: January 4th, 2021 by Andrew

How to Become a Successful Trader? You don’t need a degree or a complex course of studies to become a trader in life, a good course and a lot of experience might be enough.

Often those who would like to start trading online have rather confused ideas: they think that trading is perhaps a way to make easy money with some miraculous mechanism.

For those who have this idea, the dream of becoming a trader often turns into a nightmare of loss of money and frustration. Online trading is not a way to make easy money but a very high yield speculative investment that must be tackled with the right tools.

In this article we explain how to become a trader without making mistakes. We also present some of the best platforms to start trading online, such as eToro.

Why do we get started with eToro right away? Because it is one of the easiest trading platforms to use ever and above all because it allows you to automatically copy what the best traders do. You can sign up for free on eToro by clicking here.

Learn Online Trading

The first rule for anyone who wants to become a trader is to learn online trading. Unfortunately there are too many would-be traders who think trading is some kind of game or a way to make easy money.

They start without any preparation, hoping that things go well. Sometimes they go well (but it’s a bit like winning the lottery), much more often they go wrong.

Online trading is not difficult. It certainly was in the past but today there are trading platforms that are really simple to use and that provide exceptional phone support for those who want to become a trader. There are also excellent courses and the best ones are also free.

One of the best courses for those who want to become a trader is the one offered for free by ForexTB. It is a completely free course, very complete, easy to read and above all practice oriented.

If you are wondering how to become a trader and you don’t want to make mistakes, the ForexTB course is the right choice for you.

First of all it is free, while most of the other trading courses are paid and sometimes even cost a lot (for example, there are study courses that cost even 7,000 euros and in educational terms are worth less than the ForexTB course which is free).

Secondly, it is very simple to read, even for those who really have no knowledge or preparation with online trading. Unfortunately, many paid trading courses are extremely complicated, impossible to follow for those who are taking the first steps to become a trader.

Thirdly, it is a course that does not waste time with useless theory but that explains the practice, that is, how to make money with online trading.

You can download the ForexTB course for free by clicking here

Obviously if you want to become a trader it is not enough to download the forex course for free: you will also have to study it and above all apply what you study with a good online trading platform, starting with a demo.

Best Trading Platform to become a trader

The second golden rule to follow to become an error-free trader is the correct choice of a good online trading platform.

Warning: today, fortunately, there are many safe and reliable online trading platforms. However, not all of them are suitable for beginners: a good trading platform for those who want to become a trader must be really very simple and intuitive. In addition, it should offer phone support from real experts who can guide the beginner step by step.

To make life easier for those who want to become traders, we have selected some of the best trading platforms most suitable for beginners and we have included them in a table with the main characteristics:

Platform: etoro
Min. Deposit: 200€
License: Cysec
  • Social Trading (Copy the best)
  • Simple and intuitive
  • ➥ Start
    1star 1star 1star 1star 1star
    Platform: xtb
    Min. Deposit: 400€
    License: Cysec
  • Free demo
  • Whatsapp Group
  • ➥ Start
    1star 1star 1star 1star 1star
    Platform: iqoption
    Min. Deposit: 10€
    License: Cysec
  • Free demo without limitations
  • Minimum deposit low
  • ➥ Start
    1star 1star 1star 1star 1star
    Platform: ubrokers
    Min. Deposit: 250€
    License: Cysec
  • Free Training
  • Zero Commissions
  • ➥ Start
    1star 1star 1star 1star 1star
    Platform: trade
    Min. Deposit: 100€
    License: Cysec
  • Free demo
  • Free course trading
  • ➥ Start
    1star 1star 1star 1star 1star
    75.80% of retail CFD accounts lose money
    Platform: forextb
    Min. Deposit: 250€
    License: Cysec
  • Free trading course
  • Free trading signals
  • ➥ Start
    1star 1star 1star 1star 1star

    eToro

    eToro is almost an obligatory choice for those who want to become a trader. In addition to being really easy and intuitive, it is the only trading platform that allows you to copy, in a completely automatic way, what other traders are doing.

    How does eToro work? The operation is very simple: patented software helps to find the traders who in the past have made the highest profits with the least risk. These traders are called Popular Investors.

    If you select a Popular Investor for copying, eToro’s automated software will take care of replicating all his trades in your account.

    The advantage is twofold: on the one hand you get the same results as the best traders in the world, on the other you learn online trading by observing what the best do in real time.

    You can sign up for free on eToro by clicking here

    To learn more, you can read our eToro review.

    ForexTB

    ForexTB is the other great option for beginners who want to become a trader with an easier path. It is very simple to use, even for a beginner.

    The ForexTB phone support is particularly famous and appreciated: all members receive phone help from a true trading expert who provides precise advice and guidance. Making mistakes is (almost) impossible.

    We have already explained that the free ForexTB course is the best tool to study to become a trader: it costs nothing, it is simple and it is practice oriented. You can download it for free by clicking here.

    Another advantage offered by ForexTB is the ability to receive excellent trading signals for free. Usually such reliable signals have a high subscription cost but in the case of ForexTB they are completely free. You can request free trading signals by clicking here.

    Furthermore, ForexTB offers a great demo account, completely free, ideal for easily accumulating risk-free experience before starting to trade with real money.

    You can sign up for free on ForexTB by clicking here

    To learn more, you can read our ForexTB review.

    Iq Option

    Iq Option is the choice of those who want to become a trader but want to invest very little: with Iq Option, in fact, it is possible to start trading with a capital of just 10 euros.

    The other trading platforms usually require a capital between 100 and 250 euros (which is not much anyway) but with Iq Option you really start with little.

    Iq Option is also very simple and intuitive. Beginners can then access an educational area that is truly full of videos: it starts from the fundamentals and how to become a trader to get to the more complex techniques and strategies.

    Iq Option also offers an excellent demo, free, unlimited and without restrictions.

    You can sign up for free on Iq Option by clicking here

    To learn more, you can read our Iq Option review.

    How to become a trader: Recommended Path

    We can summarize the path to become an error-free trader:

    1. Studying to become a trader: trading is not a game or a bet, but a speculative investment in the financial markets. There are great trading books, some even completely free (we’ve already talked about them). Obviously it’s not even difficult, you don’t need a degree to become a trader.
    2. Choose a platform that is really easy to use (as well as safe, because unfortunately there are also scams to stay away from).
    3. Experience trading with the demo offered for free by the trading platform.
    4. Start trading online with small amounts to continue accumulating experience.

    The path we have outlined is ideal because it allows you to avoid the most typical mistakes of novice traders. Furthermore, starting in demo and then with small amounts helps to strongly limit the risk associated with online trading.

    Among other things, we reiterate our advice to avoid paid paths to become a trader. They cost a lot and often do not bring any kind of result.

    Read also: Best Forex Brokers.

    Beware of Scams

    Unfortunately, those who approach the world of trading for the first time risk being scammed. It is estimated that in the last year tens of thousands of Europeans have fallen into the trap of scammers with a total damage exceeding 150 million euros.

    It is important to emphasize that trading is not a scam and that it is possible to operate safely with authorized and regulated platforms. These platforms offer maximum security because they are required to comply with the strict European regulations that protect financial investments. Compliance with the laws is guaranteed by the European supervisory authorities (i.e. CySec and CONSOB).

    Below is a list of the best licensed trading platforms:

    Platform: etoro
    Min. Deposit: 200€
    License: Cysec
  • Social Trading (Copy the best)
  • Simple and intuitive
  • ➥ Start
    1star 1star 1star 1star 1star
    Platform: xtb
    Min. Deposit: 400€
    License: Cysec
  • Free demo
  • Whatsapp Group
  • ➥ Start
    1star 1star 1star 1star 1star
    Platform: iqoption
    Min. Deposit: 10€
    License: Cysec
  • Free demo without limitations
  • Minimum deposit low
  • ➥ Start
    1star 1star 1star 1star 1star
    Platform: ubrokers
    Min. Deposit: 250€
    License: Cysec
  • Free Training
  • Zero Commissions
  • ➥ Start
    1star 1star 1star 1star 1star
    Platform: trade
    Min. Deposit: 100€
    License: Cysec
  • Free demo
  • Free course trading
  • ➥ Start
    1star 1star 1star 1star 1star
    75.80% of retail CFD accounts lose money
    Platform: forextb
    Min. Deposit: 250€
    License: Cysec
  • Free trading course
  • Free trading signals
  • ➥ Start
    1star 1star 1star 1star 1star

    Operating with an authorized trading platform makes you safe from any scam. Unfortunately, beginners often fall into scams because they are persuaded by the promises of easy money.

    In practice, scammers are very good at advertising (deceptive) on the internet and convince them to invest money with their scam platforms, promising easy and safe earnings.

    These gains do not exist and whoever falls into the trap loses all the capital invested. It should be noted that serious and safe trading platforms (the ones we have included in our table) not only do not promise easy money but even warn the trader of potential risks.

    The importance of Trading System

    Very often novice traders do not sufficiently consider the importance of following a Trading System.

    The main advantage of using a trading system lies in the ability to control, in a mechanical way, the emotions that can represent an obstacle for the trader.

    What are the fundamental elements of a trading system?

    1. Stop Loss: maximum level of loss allowed on each trade
    2. Take Profit: maximum level of profit on each single operation
    3. Money Management: maximum percentage of capital to be used on each individual transaction
    4. Trading Indicators: any actions to be taken based on the performance of some specific indicators.
    become a trader

    How to Become a Trader, Conclusions

    Becoming a trader is not difficult, as long as you study and use the best platforms. It is very important to avoid scams that, unfortunately, exist (but are basically easy to spot).

    How to become a Trader?

    It takes study and training, then practice on the markets with a Demo and finally an investment to open a real account and operate.

    What is the minimum capital to become a professional Trader?

    Many platforms allow you to invest even just € 200. Of course, it all depends on the trader’s skill and the monthly performance generated.

    Where to study best to become a Trader?

    The best (and free!) Course is the one offered by ForexTB. A perfect guide to approach trading.

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