I am 18 years old and I’m trying to decide which out of either ordinary stock market investing, CFD’s, spread betting or Spot forex I am best to trade as I am a beginner, but have had a couple of years study in all of these investment products in reading and in practice demo account? I am really trying to decide which is best the best option to get started with as I want to create a possible career out of it, but I can’t decode which one to choose. What would you recommend I start with to get started with out of these 4 options? Please, I really need your help/advice. Thanks.
If you are a beginner then individual shares are the way forward – get a year of experience at least before moving to leveraged products like CFDs and spread betting. CFDs and spread betting are both high risk speculative instruments – once you acquire some experience if you’re located in the UK/Ireland/Australia I would go on with spread betting since spread betting and CFDs are basically identical products (but spread betting is tax free in the UK/Ireland/Australia). If in Europe or elsewhere I would stick with CFDs. As for forex, just don’t go there for now – margin trading with forex is too dangerous for starters as forex can have wild swings – if you do nonetheless still want to trade forex I would stick to relatively low leverage say 1:50
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