The internet is awash with money-making opportunities, some more accessible than others. Along with retail work, information services and building websites, there’s also free trading – trading stocks, shares and commodities from the comfort of your own home, for free. Of course, for many, this is the dream lifestyle. Being free from the constraints of workplace politics, working only when you choose and, ultimately, financial independence are the key drivers that inspire people to give free trading their best shot. Here, we’re taking a look at some of the ways you can get involved with free trading and make some cash. But first, let’s answer the question of ‘what is free trading?’ Essentially, it’s a way of buying and selling online stocks and shares without having to pay commission for the privilege of doing so. There are some great platforms out there offering ‘zero commission’ – this means no additional charge will be added to the stocks you buy or sell through the platform. Better yet, find a platform that also forgoes the quarterly management or administration charge commonly charged by online brokers.
Buy and sell cryptocurrencies
Since Bitcoin first launched a decade ago, cryptocurrencies have been on a gradual ascent. However, it’s still early days so the opportunity to make a little on the side, or even a lot, is still there. There are over 3000 cryptocurrencies to choose from but very few of these are likely to yield any return. That’s why it’s essential to do your research before you start trading, homing in on the handful that matter. Select an exchange, spend some time monitoring trading patterns and be ready for a few losses along the way.
Take a punt on a start-up
Peer-to-peer lending is gathering momentum right now because it lets individuals with relatively little to invest take their chance on the big time. Simply choose a reputable lending platform and decide on the enterprise, or group of enterprises, you’d like to get behind. As well as receiving a small amount of interest on your investment, you may see your share of the business rise in value.
Head to the stock market
If you have relatively low risk aversion, trading on the stock market can be one way to make a little extra cash. With even a modest amount of money, traders have proven again and again that the free market works for those who take the time to understand market forces and can identify the optimum time to stop trading.
Some people like tangible investments – gold, silver or oil, for example. If you’re a ‘safety first’ trader who wants to minimise risk, commodities are good option. That’s because, while the profit margins are lower, commodities tend to retain value over time, while currencies are vulnerable to the effects of inflation.
For some, trading online starts out as a hobby, becomes an obsession and ends up as a way of life. If you’d like to try your hand, simply identify a quality free trading platform, select the trading area that appeals to you, and get going. In a short time, you could find yourself generously supplementing your income or even generating its full value from online trading.