What are the advantages & benefits of online share trading?
Online stock trading allows you to buy and sell various securities such as stocks, futures, options, bonds, commodities, and currencies. All you need to start trading on an online trading platform is a PC, laptop or a mobile phone with internet connectivity. You can virtually invest in stocks from any location, including your office or home.
This guide will share the multiple advantages and benefits of online trading to help you make online investments easily. Let's dive in.
Here are some of the major advantages of online stock trading:
Real-Time Trading
One of the biggest advantages of online stock trading is the ability to place trades in real time. Instead of contacting your broker for stock quotes, you can easily check the stock's current price on the online trading platform. You can check stock prices, place the order and execute the trade within a few seconds.
Cost-Effective
Online trading is quite inexpensive as you pay less in brokerage and other charges, which is not the case with traditional investing. You can also opt for a broker like m.Stock, which offers zero brokerage plans, which will cut your brokerage costs to zero.
Instant Access To Market Data
Online trading platforms such as m.Stock provide access to technical charts and investing tools that offer comprehensive research insights and statistics to traders. This helps traders make well-informed investment decisions to maximise their returns. Moreover, it also saves time and substantially reduces the risk.
Flexibility
Traders can access their accounts from their mobile phones, laptops, and other devices. This allows them to keep tracking their investments from any location at any time. And in case your device is not working, you can easily shift to another medium without much hassle, unlike offline trading.
Prompt Customer Support
With years of experience and extensive training, customer support executives at online trading platforms provide individual assistance and technical support. In addition, traders can opt for email and text alerts to get notified when their buy and sell price targets are hit.
Round-The-Clock Access
Online trading allows instantaneous access to your funds and stocks anytime. It further enables you to track and evaluate stock performance efficiently, ensuring you make decisions without wasting any time.
Transparency
Online trading platforms give clear information about all the fees and other charges associated with the trading account. These include brokerage fees, taxes, and other administrative costs. Thus, traders can accurately calculate the brokerage charges involved in the transactions.
Receive Real-Time Notifications
As a trader, you can get real-time notifications about their stocks from the online trading platform. Moreover, you can follow live updates of stock prices, their performance, and market analysis. Online platforms like m.Stock also allow you to customise your notifications and updates about the stocks in your watchlists.
Read Also: Mastering Online Trading: A Comprehensive Guide for Investors
Read Also: 7 factors to consider while opening Trading account online
Summary
As we have seen above, online trading is less stressful, more time-efficient, more convenient, and cheaper than traditional investment methods. An online trading platform such as m.Stock is ideal for beginners and advanced traders alike.
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FAQ
What do you mean by trading account?
A trading account is an account that enables the buying and selling of shares and securities on stock exchanges.
Does an online trading account provide 24x7 access to its users?
Investors can login to their online trading account 24x7. However, trading can be performed only when the stock exchanges are operational.
What is the major benefit of having an online trading account?
Instant buying and selling of stocks is one of the benefits of online trading. Also, the ease and speed with which money can be transferred and shares traded online has revolutionised the trading industry.
What are the documents required to open an online trading account?
To open an online trading account, you need to submit the following:
Income proof (anyone): Last 3 months’ Salary slips, last 6 months’ banks statement, latest income tax returns, or demat holding statement
Address proof: Aadhaar card, voter ID card, driver's licence, passport, last 3 months’ bank statement
Bank proof (anyone): Cancelled cheque, passbook, last 6 months’ bank statement
Identity proof (anyone): PAN car, voter ID card, Aadhaar, driver's licence, or passport
Signature on white paper (signature should match with PAN card)
Photograph: Recent passport size photograph