A broker holds possession of a trading account where an investor can buy or sell securities. Without a trading account, you cannot trade in stock market; on similar lines like a bank account where you hold cash and securities. A personal trader or fund manager administers a trading account. With best trading account in India dependency on a stock broker is reduced. An online trading account is a storehouse of information providing updates on latest financial trends, transaction details and how certain stocks are performing. For profitable trading you can make informed decisions. Evolving on your financial goals you can opt for multiple trading accounts. Separate accounts in the form of retirement account, margin account etc. can be held.
The benefits
With a trading account you can deal in stocks, commodities, Forex, etc. Investors are able to access trading accounts online. At a click of a mouse you are able to buy or sell securities. It provides you with a storehouse of information about investment trends of the market. To increase profitability you can make sound investment decisions. From such an account you can obtain information about gross profit and loss. The speed of execution and settlement of orders is processed via this account. There is no restriction on the number of trades you plan to execute. As compared to physical trading of stocks, online trading poses to be a cheap affair. Easy to set up and offers telephonic and online access are major features of a trading account.
Things that can be achieved with an online trading account?
With an online trading account, you can trade from anywhere and anytime. Without help of a broker you can buy and sell stocks. No need to rely on a broker to execute transactions on your behalf. Based on trading strategies you can opt for multiple accounts. With an online trading account you can have access to your various accounts in real time. Through your phone or computer you can log on to the account anytime. You can analyse trending stocks, real time updates and various research analysis on an online trading account. In terms of financial know how they provide you with much sought out inputs to make wealth.
Saving from a time point
In opening an online trading account it depends upon processing time. To receive complete details of your online trading account it takes a week or so. At the bank or broker’s office you need to fill in a form. With a duly signed form you need to support KYC documents. This would include your identify details, proof of your address along with a couple of passport size photos.
Based on the details provided on the phone, the broker may conduct a telephonic verification or you may be asked to visit the office in person. Once all the information provided by you is verified, the trading account is ready to conduct transactions. The application would receive an email or in person details about their log in id and password.