Tips for Choosing a Stock Trading App to Avoid Scam

Tips Memilih Aplikasi Trading Saham Agar Tidak Terjebak

Artikel diperbarui pada 4 August 2023.

Currently, there are many stock trading apps that can be used. However, to get satisfactory results, choose the application carefully and carefully.

Do not choose the wrong application that can ultimately only provide losses, because it is included in illegal trading applications. To prevent this, follow some tips in choosing the following tarding application.

Tips for Choosing a Stock Trading Application with Satisfactory Results

The increasing popularity of stock trading has led to many applications. However, of the many trading applications, not all of them can provide benefits.

For that, there are some tips that can be used as a reference when choosing a stock trading application such as:

1. Choose the Official Application

In order to get satisfactory results, choose a legal application that has been registered with the OJK (Financial Services Authority) or to be more secure, choose an official application owned by a securities company.

However, check the identity of the securities company again, make sure that the company is officially registered with the OJK. Because if transactions are carried out through official and legal applications, all activities in it get legal protection.

2. Ensure the Cooperation is Legal

When using a third-party stock trading application, not a securities company, make sure there is legal cooperation. Find out the company that developed it and the securities company it is working with.

Then look for the track record and make sure the usage history is good and gets positive reviews.

3. Check the Analysis Used

The analysis feature used in the trading application will be very helpful for traders. So, make sure that the analysts used are certified and experienced and worth using.

4. Check How to Use It

The ease of use of a stock trading app is one of the most important things in choosing one.

Choose an application that provides features that are easy to access and use. The interface is simple and easy to understand. That way it will make it easier for traders to trade stocks.

5. Checking the Deposit Amount and Transaction Fees

Checking the nominal deposit and transaction fees is important because it affects the results that can be obtained. Choose a trading application with minimal initial capital and transaction fees so as not to burden and harm.

6. Ensure Minimum Error

It is recommended before choosing a stock trading application to try it first. Test whether the application can run smoothly, is not prone to errors and is not prone to hacking so that it is safer.

7. Completeness of Features

Pay attention to the various features that the trading application has because with a complete set of useful and optimal features, the trading process can run smoothly and get satisfying results.

How Stock Trading Works

In addition to understanding how to choose a stock trading application, traders must also understand how it works like:

1. Short Timeframe

Stock trading is done in a short period of time, that is, the day it buys then on that day it can immediately sell it whether there is an increase or decrease to avoid the risk of large losses.

2. Using Technical Analysis

A trader must be active in analyzing market movements and deciding the best time to make stock transactions in a short period of time. So the analysis uses technical analysis that is able to analyze the market in a short time.

3. Buy and Sell Principle

The working principle of stock trading is to buy and sell on the same day when there has been an increase.

4. Tips for Success as a Stock Trader

For those who want to become a successful stock trader in addition to choosing the best and most trusted stock trading application, you can follow the tips to become a trader below.

5. Learning the Ins and Outs of Stock Trading

Knowledge is power, so before plunging into the world of stock tarding enough with a variety of knowledge about it. Because in stock trading it is not only necessary to understand what stock trading is and how it works.

Rather, various basic trading procedures, day traders, and market movements must be followed and understood carefully.

6. Prepare Capital

Because stock trading does not always get profits, so the form of capital is also not only for capital to start but also for emergency fund capital in the event of a risk of loss.

So when you get a profit, it would be nice if you set it aside to be used as an emergency fund.

7. Determine the Right Stock Index

There are 22 types of stock indices listed on the Indonesia Stock Exchange (IDX) that are often used. Therefore, choose a stock index that is suitable and appropriate.

8. Choose securities with a low percentage of fees

When playing stocks, choose a security that has a low percentage of fees so that the goal of getting profits will be maximized.

9. Avoid Penny Stock

When buying stocks, you may be looking for deals and low prices, but stay away from penny stocks. Because these stocks are often illiquid, and may often result in jackpots that provide large losses.

10. Be patient and start small

Various knowledge, understanding and methods used in stock trading will be in vain if not followed by patience.

Especially for beginners, it is advisable to use small capital first, then can increase it as the ability to trade increases.

11. Continue to Expand Knowledge and Don’t Be Rash

When you want to become a successful trader, patience and knowledge must continue to be improved in order to apply the right strategy. In addition, you must be careful in every decision.

The more popular stock trading becomes, the more applications that support it. But in order to get satisfactory results, choose the right and trusted stock trading application by following the tips.

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