Make Money with Online Trading Websites?

Lynne Level 1

August 18, 2016, 3:06 pm

13

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I am just wondering what everyone here thinks about online trading websites, you know the ones where you invest in certain currencies or stocks in the hopes or belief that the value will go up and you can then cash out?

There are so many of these websites online and I have no idea where they get my number from but some of them call me from overseas and ask me to join and deposit money to trade.

I am not keen on this simply because as much as you may be educated about how currencies and exchange rates work, or maybe you are a market expert on stocks there truly is no way to be 100% certain that the value of something will go up or down.

The people that phone me tell me it is guaranteed which I sincerely doubt, the way I see it is that it is more like gambling. And if it is such a sure bet why are they so desperate for me to invest anyway?

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Everett

Everett

I use to have a training/practice account on eToro as well. I don't like those websites because it's nothing but luck/chance, or you have to spend untold amounts of time tracking the companies every move that you invested in. If you invest in more than 10 stocks then it's quite time consuming to follow them.

I quit using sites like that because it was nothing but a loss, a loss of time, and a gradual loss of money. I guess if you're not really into trading than you shouldn't be. One thing I have an issue with is, how those online trading companies promise riches, but you don't see any green you see red mostly.

10 years ago

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Lynne

Lynne

Everett I feel the same way, it is almost like gambling except that gambling is quicker so it doesn't waste so much time and it isn't as complicated. I find gambling a lot more fun. My hubby on the other hand loved eToro! Well until he lost all his money anyway LOL

10 years ago

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CryptoGuru

CryptoGuru

I Know a few people Trading online here is some tips when comparing trading sites:

Comparing Stock Brokers

When choosing your online broker, here are some great tips to remember to help you decide:

1. Narrow down a list of what is most important to you – Just like when shopping for a new home, making a focus list of wants will help you separate choices to ultimately make a decision. For an investor that travels often for example, mobile trading will be more important than the cost of placing trades.

2. Choose a broker with high acclaim and that is well known – Larger, established online brokers almost always offer more features, trade tools, better customer service, etc. Multiple brokers have millions of clients and these are the ones that almost always deliver a high quality experience for clients.

3. Be aware of miscellaneous fees – Be conscious of what fees the broker is charging. I do not recommend any smaller niche brokers on this site specifically for this reason. There are usually many hidden fees that are only found by digging through the broker website.

10 years ago

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Lynne

Lynne

My husband traded for a good few months on eToro. He said they are really cool because you get a practice account to use until you get the swing of things,so it is like the real thing but it is like a simulation run.

Plus you can follow other users and see what they do.

He made some nice money for a few months and then he lost a big amount and never tried again. He said he got a bit greedy though instead of playing safe which I think perhaps can be a big mistake for lots of people?

Thanks for the tips Jkeyz2 I am sure they will be helpful for people that are interested in trading online.

10 years ago

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vinaya

vinaya

I have invested money in trading websites and lost my entire investment. Before I put money on these websites. I had done a thorough research and the research told me that the sites are trustworthy. sadly, these sites were shut down. Online investment is very risky. If you are not scammed and you are on a legit site, still you may not make money because there is no guarantee that you will make profits.

9 years ago

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Kakashi2020

Kakashi2020

There's no legitimate trading platform or app it's always a con. If you want to do real trading find a registered broker company and trade there.

8 years ago

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Kakashi2020

Kakashi2020

All online trading websites are cons. Unless it's a registered broker company. But I've tried several of the companies that advertise in Facebook and they're just waiting for your deposit after which they'll tell you about the charges and fees. The silly part of it is that they won't let you withdraw to your bank account, the money gained would remain on your account in that trading site and they'll give you a hard time in transferring it to your bank account or even to your PayPal. At the end of the day they'll win and you will lose some money.

8 years ago

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Kakashi2020

Kakashi2020

I've seen a lot of online websites and have invested between $20 to $100 in it for some years now and although it shows that I'm earning some money the fact remains that I've been scammed because I can't withdraw my money from the sites. These investment trading sites have a high withdrawal threshold that would take years to earn. One such site is called "Money Online Investments" and some are Bitcoin or Crypto trading sites which to me are all scams.

8 years ago

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Corzhens

Corzhens

We had a sad experience in stock investment. It was at the height of the pager’s popularity when the telecommunications company offered us shares of stocks. We bought stocks worth $100 which is not peanuts during that time. After 2 years, the cell phone made waves and the popularity made the pager obsolete. The value of the stock that was 25 went down to flat 1. It was like losing all our money.

8 years ago

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