If you want to trade online then you need an online trading account. First you need to open a demat account. A demat account holds the shares and the securities in an electronic form. When you trade online the demat account is used to store the shares or securities. The trading account is used for trading.
Many banks, brokers and financial institutions offer online trading account. You should choose the online trading account depending on the type of features offered and the charges. Different brokers offer different features and so the charges vary. If you are new to online trading then you should choose the broker who offers investment advice and good service. The online broker should offer well-structured online trading facility. The interface should be user friendly. It should have organized data and good customer service. The best online trading site should offer all this for a seamless trading experience.
The online trading platform should be user friendly. Many offer 24/7 customer support and phone assistance whenever you need. Some providers offer expert tips online. You get access to news, news analysis, high quality reports, research reports, live quotes and more when you trade online. Some offer expert advice on phone whenever you need it.
When you trade online you can grab the opportunities which you would miss due to the lengthy process otherwise required. You can easily buy or sell shares online. When you want to buy demat shares in any stock exchange through the broker of your choice you have to make payment to the broker. The shares are credited in your demat account. When you want to sell demat shares in any stock exchange through a broker you have to credit the brokers account. The shares will be debited from your demat account and you will receive the money accordingly.
How to choose a trading site?
Different brokers offer different features and so the charges are different. A full service broker offers good service and investment advice but the charges are high. A discount broker does not offer any investment advice and the charges are low.
You can also check the features offered before you select any trading site. The site should load quickly at any time and there should be no technical difficulties. You should check the brokers background and what other think of the broker. You should do some research before choosing an online broker. Lower commission fees does not mean good service and do not open the online trading account by checking the price only.