Online share trading is the act of buying and selling company’s stocks or derivative products with the use of the internet. Online trading portals facilitate the traders to buy and sell shares online through advanced, high-speed trading platforms in order to help them to make a profit and generate wealth against their investments. Stocks, bonds, futures, options and currencies can all be traded online.
Select the brokerage first: Search online or ask your friends and acquaintances for reference. Ensure that the broker you finally choose is reputable, committed and take orders in a timely manner. In share trading, the time is one of the most important factors for becoming a successful trader. Even a few minutes can change the market price of the stock.
Compare brokerage rates: Correspond with at least two or three online share broking firms and collect their brokerage costs. Compare them and find out which one suits you the best.
Check the discount rates: There are many online brokerage firms that offer you discounts on the basis of a number of trades you conduct. But remember, it is not necessary to choose a company that offers you maximum discounts. Rather, opt for a company who offers better brokerage service than higher discount.
Speed and easy navigation: Visit multiple online share trading websites and check their speed, usability, navigation and information to ensure that you open an online share trading account on the best platform.
Fill up the form: Now finally when you pick a broking company after an extensive research and verification process, fill up the form and submit two documents for your identity proof and address proof.
Application verification: The company will then verify your documents and also the form.
Trading account details: On successful verification, the company will open your trading account and give you the account details.
Open demat and trading account: For availing online share trading services, first you need to open demat and trading account. Identify your trading style so you can open a suitable account type.
Learn the stock market basics: Gather as much information as possible for successful online equity trading in India. Read books and journals and attend stock market seminars to enhance your knowledge about trading.
Practice with an online stimulator: Before you take a plunge into real-time trading, get a hand on it by practicing with the online stock stimulator. On one hand, the losses you will make while practicing with the stimulator will not pinch your pocket and on the other hand, it will let you learn through mistakes.
Draft a plan: Last but not the least, draft your strategies about trading and investment and follow them meticulously for a disciplined way to buy and sell shares online.
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