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What is online trading and advantage of online trading?
Investing is very much essential these days as savings alone is not adequate to fulfill all our financial goals and also to beat inflation. There are several investment options available and you can choose them as per your needs and convenience. You have to start your investments right from a young age so as to get good returns. Investment habits bring a sense of financial discipline in a person’s life as it makes you allocate a certain amount of money periodically for the purpose of investment. Based on your risk appetite and time horizon to achieve your financial goals, you can select the appropriate investment option. There are some financial assets that help you achieve your short term goals and other assets that help you achieve your long term goals. In today’s busy world, technological advances have made the entire process of investing and managing investments easier without any hassles. Anyone can have a complete hold on investments even through smartphones. You can stay connected with the market always as investing in the trade requires constant monitoring of the market.
Trading in the market has become less time consuming these days as you can trade all by yourself. Just like shopping for groceries online, you can buy and sell stocks online. You need not be an expert to begin online trading as these trading platforms are user friendly and do not necessitate any special learning. have even made things easier for a trader as you can carry out any transaction in the market through your smartphone itself. You can trade from anywhere anytime through the mobile trading app.
Trading platforms provide all the necessary support and assistance by providing secured real time access to trading, research reports, market news, etc. You can trade in currency, commodity, etc. through a trading platform if you have a trading account and an internet connection. Platforms help you trade without any difficulty as these platforms enable high speed trading. These platforms have revolutionized the way trading is done. You can simply download these to your mobile and can begin trading.
What is Online Trading?
Online trading can be done by simply opening a demat and trading account with any SEBI registered broker. Account opening can be done in a matter of 15 minutes. The documents required to open an account are PAN card, address proof, AADHAAR card, mobile number linked to AADHAAR, bank statement and passport photograph.
The Advantages of Online Trading are:
● It is Less Expensive
● Quick & less time consuming.
● Complete Control
● Chances of Error is less
● Monitor Investment All time
● Access to research Reports.
It is simple:
It enables a trader to have a hassle free trading experience. Anyone can use these platforms as specific skills are not required to carry out trading online.
It is less expensive:
It is less expensive as compared to traditional mode of trading. Brokers also promote online trading as it reduces maintenance and other costs incurred by the broker.
Trading can be done in a seamless manner and in less time. Before the advent of online technologies, trading was a cumbersome process as you had to visit the broker or call your broker for placing or cancelling trade orders. Now, you can carry out trading even through a smartphone in the simplest way.
Complete control:
It allows you to have complete control over your portfolio. You can place trade orders from anywhere anytime. That is the kind of flexibility you get due to online trading.
Chances of error are less:
In case of traditional offline trading, there were more chances of errors due to miscommunication between the traders and brokers. But in online trading, you can place trade orders or cancel without broker’s interference and hence can manage trade transactions by yourself.
Monitor investment at all times:
You can monitor investments anytime. There are mobile trading apps that can be downloaded in your smartphone which help you stay in touch with the markets and also monitor your investment anytime and take proper strategic moves accordingly. Loss making stocks can be removed and profit making stocks can be added to your portfolio by observing the way the market moves.
Access to research reports:
You can get access to top research recommendations, reports, and analysis on stock price based on various charts. There are various brokerage websites through which you can have discussions with research experts as well. You can take the best move with the help of financial advisors too.
Safety measures that have to be taken in case of online trading:
● Always log out after carrying out trade in order to avoid any misuse of your account.
● Personal computers have to be protected against viruses by installing anti-virus solutions.
● Do not click on the “remember me” option when you sign in to your trading account from a different location.
