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Benefits of an Online Trading Account

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To meet your financial goals and combat inflation, savings alone are insufficient and you need to invest. Based on your goals, time horizon, risk profile, and requirements, you may choose from multiple investment options.

Different investments help meet distinct short-term and long-term goals. Historically, you needed an agent or broker to invest in different instruments, such as stocks, mutual funds, insurance, and others. Technical development makes investing and managing your investments convenient and hassle-free.

What is an online trading account?

With an online trading Account, you may buy and sell various instruments through a virtual platform. This account is mandatory if you want to transact on the stock exchanges. With an online account, you may make your investment decisions from the comfort of your office or home.

How easy is it to use an online trading account?

It is very simple to open and use an online trading account. Do your research and select a reputed and reliable service provider to open this account. Some of the key factors you need to check are the brokerage rate, discounts, and quality of service.

While investing in the stock market, time is of utmost importance. Therefore, it is advisable to choose a service provider that offers reliable services even if the brokerage charges are higher.

After completing the formalities of opening an online trading account, you receive a unique ID used for executing the transactions.

An online trading account provider allows you to place buy and sell orders. Once a buy order is processed by the stock exchange, you receive the shares in your demat account. Similarly, your demat account is debited when you sell shares.

In addition to shares, you may also invest in mutual funds and initial public offerings (IPOs). You have the liberty of making investment decisions without any interference from the stockbrokers.

Key Benefits of an online trading account

If you are still not sure about why an online trading account is needed, consider the following key advantages:

  1. Time Saved

Traditionally, you needed to directly contact your broker to place an order. With an online account, this need for a middleman is eliminated. You may access your account from any place at any time without any trouble.

Moreover, you are able to track and monitor the performance of your investments in real-time. This allows you to make timely and informed decisions. Your account may be accessed through your phone, laptop, or any other smart device saving time and making the trading process convenient.

  1. Money Saved

Historically, trading on the stock exchange was expensive. In addition, to the brokerage fees, other charges like stamp duty and physical certificate costs were levied. Therefore, the effective cost of investment was higher.

In comparison, an online trading account is less expensive because middlemen are eliminated. Furthermore, overhead expenses and maintenance costs for the service providers are also lower. This is true even if the service provider levies brokerage charges. Several service providers like mastertrust offer a free trading account, which further reduces your cost and saves money.

How to open a trading account

A trading account allows you to seamlessly transact in different securities on the stock markets. As per the legal guidelines, you need to open a trading account to trade on the stock exchange.

Here are the steps to open a trading account:

How to Open Trading Account
How to Open Trading Account

Free Trading Account with mastertrust

When you open an online trading account with mastertrust you need to pay a one-time opening charge. The service provider is currently offering zero brokerage for new users. For individuals who open an account with mastertrust between 1st January 2020 and 31st March 2020 receive zero brokerage trades for the first three months on the mastermobile app.

The post Benefits of an Online Trading Account appeared first on Get Share Market, Intraday Trading & Investment Tips | mastertrust Blog.



This post first appeared on Get Share Market, Intraday Trading & Investment Tips | Mastertrust, please read the originial post: here

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