About us
Pursuing a Career in Trading?
What you Need to Know
Trading, historically considered a dynamic and lucrative profession, has undergone significant changes over the years. If you’re contemplating a career in this domain, it’s essential to understand the contemporary landscape and the evolving opportunities it presents.
Changing Landscape of Institutional Trading:
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Rise of Automation: The influx of technology, particularly artificial intelligence (AI) and sophisticated algorithms, has transformed trading floors. Many traditional roles have been automated, making manual trading at institutions like banks increasingly rare. However, this doesn’t imply that there’s no place for human intelligence. Traders now often act as overseers of these systems, leveraging their market knowledge to refine strategies and manage risks.
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Dealers at Brokerages: While the role of the conventional trader might be dwindling, brokerages frequently require ‘Dealers’. This position focuses on managing both the broker’s and their clients’ risks. It’s a high-octane role that demands a keen understanding of markets and excellent decision-making abilities.
Being a Broker vs. Being a Trader:
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Broker Roles: If you’re envisioning a role where you’re constantly analysing charts and making buy/sell decisions, that’s more a trader’s territory. Brokers, especially ‘sales traders’, often find themselves liaising with clients. They take orders over the phone and coordinate with other brokers to execute these orders. Thus, interpersonal skills, sales acumen, and market knowledge are indispensable for this role.
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Beware of ‘Pay-to-Play’ Jobs: As with many industries, there are entities in the trading world that might not operate with the utmost integrity. Some job offers might require candidates to deposit money upfront. While these aren’t scams per se, they’re not always designed with the candidate’s best interests at heart. Always perform diligent research and seek advice from industry veterans before committing to such positions.
Interested in a Trading Career?
If after understanding the landscape, you’re still keen on embarking on a trading career, we’re here to assist. At BrokerScanner, we’ve built relationships throughout the industry over the years. Whether you’re looking for introductions or merely some advice to steer your journey, drop us an email at support@brokerscanner.com. Let us help you navigate this exhilarating world of trading.
Recent reviews
SpreadEx
Best Mobile App
Awarded for having the best mobile app by Investment Trends, it is very clear to see why. Simple, Easy to use and well suited for a variety of different Trading Strategies. It particularly stands out for short term strategies, namely scalping, as managing positions quickly is really easy with the app. Navigating through the app its clear that speed was prioritised, which is refreshing to see.
Overview
Quick Summary:
Spreadex is a UK-based trading broker with their own proprietary platform that is well-regarded for its offerings in both financial spread betting and traditional trading. Priding itself on a blend of comprehensive trading tools and top-notch customer service.
Key Features:
– Wide Offering: Apart from financial markets, Spreadex stands out for its sports spread betting, allowing enthusiasts to bet on a wide array of sporting events. From a traders perspective they cover all the major asset classes and the markets that most traders are looking to trade. Like other top tier brokers, if there is a market missing it is worth getting in contact with them and requesting it.
– Intuitive Trading Platforms: Spreadex offers user-friendly platforms, which cater to both beginners and seasoned traders, ensuring a seamless trading experience with advanced charting tools. The platforms are not covered with unnecessary tools and features that you may never use. Their platforms are designed to enable traders get quick and efficient access to the markets.
– Dedicated Customer Support: With an emphasis on client satisfaction, Spreadex provides responsive and knowledgeable customer support. Their sales and account opening teams are friendly and approachable and comfortable in helping users navigate and get the best out of their offering.
Who It’s Best For:
Spreadex is an ideal choice for new and seasoned traders seeking a reputable broker, with a quality app, matched with a good range of markets to trade. For traders looking for a slick an clutter free trading experience then Spreadex comes highly recommended. Whether you are trading on the go or trading full time then the Spreadex Spreadbetting offering is something that can be depended upon.
Detailed Analysis
– Trading Costs: Spreadex is transparent about its fees with competitive spreads, although it’s always advisable for traders to review the cost structure to ensure it aligns with their trading strategy.
– Regulation: As a UK-based platform, Spreadex is regulated by the Financial Conduct Authority (FCA), offering traders the reassurance of strict regulatory oversight.
– Funding Options: Spreadex offers a range of funding methods including bank transfers, debit cards, and online banking, accommodating various trader preferences. Its of particular note that Spreadex offer Open Banking, which you will find in their deposit section called ‘Easy Bank Transfer’. This Easy Bank Transfer feature is great for traders looking to deposit or withdraw quickly without compromising security.
– Withdrawal and Deposit Speed: Withdrawal processes at Spreadex are straightforward, with most being processed within 1-5 working days, depending on the method used.
– Platform Features: The Spreadex platform is equipped with a variety of trading tools, technical indicators, and advanced charting, providing traders with a comprehensive trading environment. They recently released the VWAP indicator for their charts, as well as the ‘Pro Trend’ that can help traders discover levels on the charts automatically.
– Mobile App: Spreadex has a mobile application available for iOS and Android, allowing traders and bettors to engage with markets and sports on the go. The mobile app has won a coveted award and is ideal for the modern trader.
– Number of Markets Available: Beyond its unique sports spread betting, Spreadex provides access to numerous financial markets including forex, commodities, equities, and indices.
– Customer Service: Spreadex is often lauded for its stellar customer service, available through phone, email, and live chat.
– Educational Resources: Spreadex offers a range of educational materials, ensuring traders have ample resources to make informed decisions.
– Third-party Integration: While Spreadex provides a comprehensive in-house platform, integration with other platforms or tools is limited.
Conclusion
A reliable broker, fantastic app and great customer service. This broker ticks many boxes. Spreadex holds a unique position in the UK trading landscape due to its dual focus on sports spread betting and financial markets. With robust platforms, attentive customer service, and a wide range of offerings, Spreadex is a compelling choice for those looking for a diversified trading and betting experience. As always, potential users should conduct their research to ensure the platform aligns with their needs.
*64% of Retail investors lose money when trading Spread bets and CFDs with this provider
Oanda
Best TradingView Broker
One of the first brokers to integrate with TradingView, Oanda have forged a strong relationship with the TradingView community. They have won the ‘Most Popular Broker’ award by TradingView 3 years in a row. What also makes Oanda stand out from the crowd is the offer to give clients access to TradingView Pro free for 1 year, should they meet minimum volume requirements.
Overview
Quick Summary:
OANDA is a globally recognised forex broker renowned for its dedication to low-cost trading, top-tier platforms, and comprehensive educational content.
Key Features:
– Low Fees: OANDA is a preferred choice for many due to its minimal fees, offering spreads starting from as low as 0.1 pips on major currency pairs, with no commission imposed on trades.
– Advanced Trading Platforms: Traders are provided access to several state-of-the-art trading platforms, including the OANDA Trade platform, MetaTrader 4, and TradingView. These platforms come loaded with features such as refined charting, technical analysis, and efficient order management.
– Extensive Educational Resources: OANDA’s commitment to trader education is evident through its exhaustive library of webinars, tutorials, and insightful blog posts tailored for traders of all expertise levels.
Who It’s Best For:
OANDA is an excellent choice for traders ranging from novices to professionals, particularly those keen on accessing a low-cost platform that doesn’t compromise on quality or features. With its diverse asset offerings, it’s particularly well-suited for traders looking to dabble in various markets from forex and CFDs to futures and bonds.
Detailed Analysis
– Trading Costs: OANDA sets itself apart with some of the market’s lowest fees. For instance, major currency pairs boast an average spread of just 0.1 pips, and there are no commissions attached to trades.
– Regulation: OANDA’s operations are overseen by multiple regulatory bodies, including the FCA in the UK, ASIC in Australia, and the FSA in South Africa, ensuring robust protection of client funds and adherence to international trading standards.
– Funding Options: The platform is flexible with funding, supporting various methods such as bank transfers, credit/debit cards, and more, with the majority of deposits processed in under 24 hours.
– Withdrawal and Deposit Speed: Withdrawal requests from OANDA are usually completed within 1-2 business days, ensuring quick access to funds.
– Platform Features: OANDA showcases an assortment of advanced trading platforms, each equipped with a suite of tools and functionalities designed for efficient trading.
– Mobile App: OANDA’s mobile app, available for both iOS and Android, is a compact trading solution offering real-time quotes, charting capabilities, and swift order placement.
– Number of Markets Available: OANDA allows trading across a broad spectrum of markets, including forex, CFDs, futures, stocks and bonds.
– Customer Service: OANDA’s dedication to customer satisfaction is evident through its round-the-clock support via phone, email, and live chat.
– Educational Resources: The broker offers a huge range of educational materials, including webinars, video tutorials, and articles, designed to foster market knowledge and trading acumen.
– Third-party Integration: Traders can seamlessly integrate third-party platforms, such as MetaTrader 4 and TradingView, with OANDA, combining the strengths of each platform.
Conclusion:
OANDA, with its sterling reputation, stands as a broker that offers a vast array of tools and services. It’s especially appealing to seasoned traders in search of a low-cost broker with a comprehensive offering of assets, solidifying its esteemed position in the global trading market.
*76.6% of Retail investors lose money when trading Spread bets and CFDs with this provider
Testimonials
