Common Commodities Traded Online: What you Need to Know
We are living in a digital world and that means traders use secure Internet platforms to trade a wide range of commodities, which we examine in this short article. You would be surprised if you knew how many Australians are currently earning a living trading online and if you are thinking of embarking on such a career, here are some of the most common commodities that are traded online.
- Stocks & shares – The ASX has more than 2,000 companies and you can trade stocks and shares from Monday to Friday during regular office hours. Like any form of trading, there are risks involved and we recommend trading with a demo account until you know the ropes and are familiar with trading terminology. If you wish to trade at the ASX, you can order a tailored suit in Melbourne from a leading tailor and you will look like a slick tycoon.
- Cryptocurrency – Bitcoin and other cryptocurrencies are traded on global markets; you can buy using any fiat or cryptocurrency and using a broker gives you access to many learning resources, as well as giving you a secure real-time trading position using the broker’s platform.
- Fiat currency – The Forex market is where you can trade fiat currencies; pairs of currencies are traded, and the market is rather complex. Forex traders are used to high-pressure trading, and they use cutting-edge software to analyze the market.
- Precious metals – Of course, gold and silver are popular with traders and investors alike, yet other precious metals are also traded, such as titanium, platinum and palladium. Most private investors have some gold or silver in their portfolios, which is often used as a hedge against inflation.
- Commodities trading – From gas and oil to peanuts and coffee, just about every commodity can be bought and sold using a secure online platform. Futures trading is popular, and it involves predicting the prices at a set date in the future. This is not a market for a newbie trader, and we advise you to get some hands-on experience by trading with a demo account, which allows you to gain an understanding of how trading works without risking your hard-earned money.
- Gemstones – Another specialist market, if you wish to buy or sell gemstones, you need to find a leading broker, plus you also need a sound knowledge of gemstones and how they are graded.
Learning Resources
Brokers exist to facilitate trading and when you register with a broker, you can access their secure online trading platform. You can also access a library of learning resources; like most things, you have to apply yourself 100% when it comes to learning trading techniques.
Free Resources Online
Those who wish to learn about trading commodities can find what they need on the Internet and when you are ready, open a demo account to get the feel of the trading process.
