Published on Tuesday, April 16, 2019 by Chittorgarh.com Team | Modified on Tuesday, May 21, 2019
In the digital world, where internet costs are going down and everyone is armed with a smartphone, it makes sense to open an online trading account and trade with convenience. To help you make the most of your online trading account, we discuss benefits of online trading account, how to trade using online accounts and bring you the list of top brokers offering low brokerage online trading accounts in India.
Online share trading accounts help you trade in stock exchanges using a computer (desktop or laptop) and the internet. These days almost all the brokers offer mobile trading apps which can be used by traders to trade online. An online trading account facilitates online trading wherein you can trade from anywhere during the market hours. The online demat and trading accounts are offered by all types of brokers including full-service and discount brokers. Discount brokers like Zerodha, Fyers etc., only offer online trading services whereas full-service brokers like HDFC Securities, Axis Direct etc., offer both online and offline trading services.
You need to log in to the broker's trading website and place buy/sell orders there. Most of the web-based platforms are user-friendly and easy to use.
These software needs to be downloaded in your desktop computer. It runs using the internet and provides terminal like experience. Most desktop trading software is quick in processing orders and offers features like hotkeys, order placement from excel and charts.
Most of the brokers offer mobile apps for trading which allows you to trade from your smartphone. The app may not offer all the features of a web-based or desktop platform but offer essential features to trade and monitor on-the-move.
An online share trading account brings a host of benefits to a trader including:
Here are 4 steps on stock trading using online trading accounts:
A good and low brokerage online trading account will not only help you lower your trading costs but will also improve your trading experience. And that's why it is important to find the best online trading broker. To make your job easier, we have given a list of top 10 online discount brokers who offer low brokerage online trading accounts in India. Know in detail about each broker, read trading platform reviews, do a side-by-side comparison of brokers and select the best online trading account.
Most of the brokers offering online trading accounts like Prostocks, Upstox etc., offer instant, paperless account opening process wherein you can open an online demat and trading account in a few minutes. To open an instant online trading account, you would need Aadhar Card with your current mobile number linked to it, PAN Card etc. Once your online account is opened and active, the broker will send you an email with login details of trading platforms.
Most stock brokers in India offer resources in the form of articles, videos and online demos to educate traders on using their platforms. If you plan to use the desktop trading software or mobile trading app then you need to download the software in your device. Some brokers also offer the facility of personal demos of the software wherein the company representative will visit you and explain all the features of the platform. Some brokers also offer you online trading simulators to provide their customers with a hang of their software.
For the first few times, place your buy/sell orders with caution. Start with small trades so that you don't lose much if something goes wrong by mistake. Check in the reports section whether your order is correctly placed or not. And as you get fluent with the platform, trade with confidence. Keep updating the software as and when it is available to enjoy new features offered by the broker.
Online trading has brought a lot of convenience to traders. With the smartphone revolution, people in small town and villages are trading online. To make the most of online trading account, follow the steps advised above and gain from the dual benefits of convenience and low costs.
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