Undeniably, most Singaporeans are well-acquainted with the idea of investments. The concept of investment is pretty easy to understand. It is all about putting your money into stocks in order to increase your wealth in the future. The idea behind it is to defeat inflation rather than leaving your money in the banks.
What is trading?
Let’s now understand what exactly is trading. Trading, in a way, is considered a more risky sibling of investment. To put it in simple terms, trading is all about buying and selling financial assets, essentially in a short-run frame of time. An example of trading, in pop culture, could be that a stockbroker buys stocks at relatively lower prices and then sells them when their value increases at a profit.
Fundamentally, it indicates that you can earn some income in a short- frame of time too.
Trading Tips –
Let’s learn how to start investing or trading for investors in Singapore –
- Select the assets that match up the risk you can take –
Go for the assets that certainly match up the amount of risk you desire to take. This is the first thing to keep in mind before you start trading or investing your money because every investment involves some kind of risk. Apart from that, make sure that you research well before making your investment.
- Compare and contrast the fees as well as security of trading platforms –
Another important thing to keep in mind is to compare and contrast the fees as well as the security of trading platforms. When you start with trading, you need to open an account on any of the trading platforms. While doing so, make a wise choice of the trading platform by comparing the ease of use, fees, and security of various platforms.
- Attend online webinars –
Next tip is to attend online webinars and go for some free courses in order to learn more about trading since it’s not that easy to understand. The more you learn about it, the better it is. Therefore, enhance your knowledge by attending webinars online and by taking up some free courses.
- Don’t trust blindly –
Make sure that you don’t blindly trust and copy the trades or listen to recommendations. Do your own research and then make a decision. Invest after considering the amount of risk you are willing to take.
Now that you know some basic tips, you can start with trading by setting up your account on any trading platform.
See more at https://www.roshi.sg/robo-advisors/