Factors to Consider Before Opening an Online Trading Account

1. FACTORS TO CONSIDER BEFORE ONLINE TRADING

2. WHAT IS AN ONLINE TRADING ACCOUNT? When you, as an investor, want to trade in the share market, you need to make a compulsory account to do so. This compulsory account is known as an Online Trading Account. Open your online trading account in just 15 minutes

3. FACTORS BEFORE OPENING THE ACCOUNT

4. CHOOSE THE RIGHT PLATFORM • Trading involves risk. So, it is a must to take all the necessary measures to minimize the risk you take. • Many platforms promise easy ways to make incredible profits. But if you feel that they are offering something that is too good to be true, it usually is. So, avoid such traps. • Make sure that the platform you choose is regulated by certified authorities, who have the means to keep your personal information protected and are connected to well-known financial institutions.

5. WATCHHIDDEN COSTS • When compared to a broker, the trading costs are low when it comes to an online trading account. But look out for the costs mentioned in the fine print, or else, you might end up incurring an overall loss even after earning a good profit from your investments.

6. LOOK FOR A WIDE VARIETY OF GOOD ONLINE TRADING COMPANIES • You should have a comprehensive list of all the good online trading companies to choose from to buy, sell and trade to maximize your returns. • It is always better to learn about as many such companies as you can so that you have a clear idea of every company and choose the best one for your investment.

7. EASE OF USE • Many of the investors are just starting out with their journey of investing and some only have a small amount to invest. So it is important to choose an online broker that is easy-to-use for everyone. • Look whether an online broker is offering free assistance in the form of tutorials, FAQs, articles, informative videos and so on.

8. FUNDAMENTAL OR TECHNICAL ANALYSIS • If you trade online, you have to use some form of analysis, otherwise you may lose all your money quickly by just going with gut-feelings. Generally here are two types of analysis – Technical and Fundamental. • Technical analysis focuses on reading charts and trying to find recurring patterns. It is based on the belief that the past is an indication of the future. • Fundamental analysis is based on the behavior of an asset in relation to the different market forces that affect it. It involves reading of earning reports, watching news, looking for recent happenings in the company (for e.g. a scandal) and so on.

9. STEPS TO OPEN AN ONLINE TRADING AND DEMAT ACCOUNT Enter your valid E-mail ID Provide your PAN number and DOB for KRA verification Enter your name, address and mobile number. If you are already KRA verified, our systems will automatically fetch your data Enter your bank details Provide additional information (education, occupation, etc.) Confirm your brokerage plan. Upload your documents via WhatsApp or E-mail. Get in touch with a stock broker to learn more about trading.

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