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How to Pick a Trading Platform

When you start out as an investor or trader, you need to pick your overall strategy. Do you just want to dabble in the markets, or you do want to start a profitable sideline that could replace your current day job or career? Many people have some extra bit of money that they could play around with in the market, but others might want to try their hand at day trading.

Can you use Capital One Investing for day trading? Probably not. It is best suited for casual investors that are making a few trades per month and not gawking at their portfolio every hour of the day. Casual investors that are looking to make the most of their personal portfolios while not risking a large amount of money is important.

Day trading is not easy. So, you want to pick the right tools and right platform for day traders.

Capital One Investing came from a company that was bought and rebranded and reimagined by the Capital One bank, a huge entity with national commercials and a huge array of financial offerings. The corporation wants to get in on the retail investing games, but that is not necessarily the right thing for day traders.

The site’s interface is simple to navigate and very easy for an amateur investor to get used to. The financial terms are kept to a minimum, so investors with a beginner’s level understanding of the markets can get started without much trouble. The customer service is targeted at retail investors as well.

Capital One Investing allows investors to manage their one portfolio, but the more popular options come from being able to get some assistance from pros from time to time and turning over all your decisions to a broker-advisor. That is the market that Cap One is going after. The casual investor without the savvy to trade and invest on their own. The commissions are right in line with Etrade and TD Ameritrade, so the retail investing market is the clear target.

What really kills the deal for day traders is the lack of a trading platform. There is no standalone desktop software or interface that allows high frequency traders the control and information flow that they need. The simple trading page on Capital One Investing only allows users to enter orders and view the status. There is no charting software or the ability to customize an interface with hotkeys. The research and education options are lacking as well.

The mobile options are very small as well. There is very little support for traders to make adjustments to their positions on their phones or tablets. That limits a user’s ability to react to the market quickly and chain a person to the desk.

This investing arm is best suited for casual market players with the long term in mind. There is very little value here for day traders that want to really get their hands on the daily market and looking for profits from the regular volatility.