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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 habit brings 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 smartphone. You can stay connected with the market always as investing in the stocks requires constant monitoring of the stock market.
Trading in the stock market has become less time consuming these days as you can trade all by yourself without the assistance of a broker by means of online trading. 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. Mobile trading apps have even made things easier for an investor or trader as you can carry out any transaction in the stock 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, price analysis of stocks, market news, etc. You can buy or sell shares if you have a trading account and an internet connection. Not only that, you can trade in currency, commodity, etc. through one single trading platform. Online trading 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 system or mobile and can begin trading.
What is Online Trading?
You can place trade orders or cancel orders at your will from the comforts of your home. It allows you to make your own decision with regards to trading without any interference of the broker. You can buy shares or invest in IPO or buy mutual funds as well.
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, cancelled cheque leaf and passport photograph.
Documents issued by trading member/broker:
Contract note:
The trading member or the broker has to issue contract note within 24 hrs of the execution of trade. Digital contract notes are issued these days. You have to check the contract notes regularly and any discrepancy has to be taken up with the broker immediately. The broker also issues a quarterly statement of funds in digital format.
Benefits of Online Trading:
The Advantages of Online Trading are:
Its Simple
It is Less Expensive
Quick & less time consuming.
Complete Control
Chances of Error is less
Monitor Investment All time
Access Reports.
Benefits of Online Trading
It is simple:
It enables a trader to have a hassle free trading experience. Anyone can use these platforms as specific skill is 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.
Quick and less time consuming:
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.
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