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Investment Research Platforms: How to Know Which One Is the Right One for You



Investment Research Platforms

Investment research platforms essentially analyze the performance of various financial instruments such as stocks, mutual funds, bonds, and debentures, to name a few, so as to provide an investor with a view of how a company is actually performing. It also helps in determining the company’s future performance for price movements. Some investment research platforms also serve as online supermarkets that enable you to purchase a wide range of funds, shares, bonds, and other investments from one convenient location, usually inside tax-free stocks and shares ISAs or a self-invested personal pension (SIPP).

Investment Research Platforms

Finding the Right Investment Research Platform Requires Work

To find the right investment research platform you will have to ask yourself some important questions and do your research because there are many online investment research platforms to choose from, therefore, you will have to make sure that you compare as many available options as possible before you discover the investment research platform that best fits your needs. Start by comparing commissions on the investments you will use the most. As mentioned on this Atom Finance review, keep an eye out for account fees, pay close attention to account minimums, and search for brokers with a proven and reliable track record. Always analyze the fine print in the pricing and execution and carefully consider the tools, education, and special features offered by any investment research platform you are seriously considering going with. 

Understand Which Financial Instrument You Wish to Work With 

Prior to searching for the right investment research platform, make sure you know your investment goals. There are investment research platforms along the lines of Benzinga and the Bloomberg Terminal which was designed to make the same level of knowledge available to traders at a much more reasonable price. That being said, you should know for certain whether you will be trading in stocks, cryptocurrencies, forex, CFDs, or options on online trading platforms. There are many types of online brokers ready to serve clients needs. Some may be experts in long-term buying-and-holding novices. Others may be experts in sophisticated day trading. Fully understand which financial instrument you wish to work with and that will ultimately put you in the best position to find the right investment research platform that suits your overall interest.

Before Moving Forward Ask Yourself the Right Questions

A few questions and things you should look out for that may help you decide properly in making your final decision when searching for the right investment research platform to choose from are whether or not you will be looking to invest in a few individual stocks or if your goal is to look for a long-term retirement fund that you can settle into? Is your goal to leave your full-time job and become a full-time investor? You should then ask yourself if you are interested in day trading or advanced investment strategies, such as options? Are you prepared to be an active, passive, or novice investor? Will you be trading stocks, mutual funds, options, futures, fixed-income securities, or cryptocurrencies, and finally, will you be involved when executing day or swing trades?

Search for Current Customer Reviews Online

It’s always a good idea to find out what current online investment research platform customers are saying in their reviews. Make sure to search online for consumer reviews by using search words such as fraud protection, customer service, and insurance claim. A red flag warning should go up in your mind if several people from around the world are all complaining about the same issues. You would be well advised to investigate the online investment research platform further before committing to it. 

Investment Research Platforms

Before choosing an online investment research platform you should compare reputation, reliability, trade execution and always consider fees as important factors in making your final decision. Competition among the many online investment research platforms currently available has forced numerous platforms to run special promotions that offer lower fees with increased services provided to the customer. Finally, it is upto you to decide whether you are willing to pay higher trade commissions for a state-of-the-art investment research platform or if you wish to simply consider going with smaller brokers or less expensive online investment research platforms to avoid paying extra for resources and tools that in the end, you won’t even need for what you are ultimately looking to accomplish.

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