04 Best Free Trading Platform In 2020
Online trading has become quite popular these days, especially now since most of the workforce across the globe are working from home. Trading online has allowed people to do marketing right from their phone. In the last two years, thousands of online trading platform offering the same services.
But, can you choose any platform at random and start trading? Are you ready to risk your money?
To get you out of all these questions and help choose a perfect platform, we have listed the four best free trading platforms in this article. The platforms listed below are completely safe, and you can begin your trading session easily, even if you are just a beginner.
1. Alphalive
Alphalive tops the list of hunt for the best trading platform. The reason for this is that unlike other platforms, Alphalive doesn’t require any form of downloads or extension to work on a browser. You can log in or register on the platform and start trading.
The next best thing about this software was security. It has top of the line 256bit encryption for money transfer paired with anti-money laundering(AML) and Know Your Client(KYC). All of these features make this platform perfectly safe for trading online.
2. Binance
Binance is also a trading platform that offers both mobile and browser options, which means you can make a trade using your mobile as well as pc. The main advantage of this platform is versatility, which means you can seamlessly take your trading experience from your laptop or pc to a smartphone. It is perfect for business people, who are very much into trading and need a mobile trading technology.
However, Binance doesn’t clearly state what type of encryption they are using to secure user’s payments or transactions, but they do provide API documentation on their website. Binance is perfect for an individual who is looking to make their trading experience mobile.
3. Changelly
The next one in the list of the best free trading platforms, we have Changelly. It is similar to Binance, as it also provides both mobile and browser trading experience. The only thing different in this platform is that Changelly is a non-custodial currency exchange platform, which means that it acts as an intermediary between users and their exchange.
I found their application very captivating as it has a very smooth and bug-free interface. Plus, it doesn’t have any hidden charges, only a nominal 0.25% fee charged for every exchange made by the user, but this will be charged every time you make an exchange, no matter how small the amount is. They have also made their API public, which means any developer can use their code to develop a trading platform for free.
Personally, I found this platform to be very good. It has a nominal fee, and its application is user-friendly, perfect for beginners. But, the fee on every exchange makes it a little bit pricey than others; if you can ignore that, then this software is for you.
4. Bitfinex
In the fourth position, we have Bitfinex. It is also similar to the above two platforms, but it has better security. Bitfinex is also available for both mobile and browser. This platform is on par with Alphalive when it comes to the security of user’s money. They have taken several steps, such as an API key login procedure followed by the unique QR code scan.
They have also made several of their legal terms available to the public to increase awareness about their security and anti-fraud policy, you can read them by visiting their site. Hence, it is a very good initiative by the company to tell the user about their terms, policies, and how they are working to enhance the user experience in trading and reducing online threats.
Conclusion
There you have it, four best free trading platforms now. You can choose any one of the above based on your preferences and trading options. But, considering all the other platforms, Alphalive is preferred to be the best. The reason is pretty simple, Alphalive has better security when it comes to transactions, and for me, security is far more important than a better user-interface. But, that’s my choice, you can choose any of the above-listed software, but remember, security is always important when it comes to online trading or transaction.