Making easy money without risk on the online stock market is easy when you use the right strategies with the right tools. In this article, we tell you how a good trading stock app can become a real extra income in Ireland through the opportunities it can give you.
First step : choose the right broker app for you
As an investor in Ireland, the biggest decision you are going to have to make is not whether to choose stocks, forex, CFDs or other financial products to start your investment.
Actually, the hardest part is choosing the broker app you are going to trade with.
As a reminder, the broker is a financial intermediary who helps you invest in the financial markets. It is the broker who executes the stock market orders on behalf of the trader. He deals more precisely with sell and buy orders for him.
The broker provides the trader with a platform from which the investor can trade.
Today, there are a multitude of brokers that you can find on the Internet, most of which offer their own mobile applications. Due to their large number, choosing the best of them is not always easy. Fortunately, you can take a look at the list of the top stock trading Ireland apps to help you with your choice.
By learning more about the different stock market trading apps through an objective comparison, it will be easier to know which of these apps is most suitable for you.
Second step : choose a type of trading account
There are several types of trading account. First of all, there are the OSA or Ordinaries Securities Account which allows you to invest in all financial markets and adopt trading strategies.
Another account that you can opt for when entering into trading is the Stock Savings Plan or SSP. This type of account allows you to obtain tax-exempt gains on capital gains after 5 years.
Finally, there is life insurance which is a type of account that comes in a secure pocket with guaranteed capital allowing investment in the financial markets with advantageous taxation after 8 years.
It's up to you to choose the type of trading account that suits you best. However, when opening an account in your stock exchange trading app in Ireland, we recommend you trying at first with a demo account. This allows you to make investments without the risk of loss because you are not using real money. Once the market is better understood, you can then trade with a real account and make real gains.
Third step : choose the investments in which to invest and follow them
The last step to getting started in trading and making easy money is choosing your investments
In Ireland, you can invest in stocks, Forex, commodities as well as financial derivatives.
Finally, with the help of your stock market trading app, track your investments. Depending on the market trend, buy new assets when the opportunity arises or sells your investments to achieve your goals.