How to Start Online Trading in 4 Simple Steps?
It has been more than two decades since online equity trading
has become a norm for stock market traders. It takes a few clicks of buttons to buy or sell stocks from anywhere at your convenience. These days, online trading has become even more convenient on smartphones and mobile banking apps.
If you are an amateur in online trading, here are four simple steps to get started:
1. Select a Stockbroker
You need to open Demat and trading accounts for online transactions of shares. A Demat account holds your shares in a digital form whereas a trading account enables you to buy or sell shares. A stockbroker will not only help you open Demat and trading accounts but also handhold your way through online trading. They will advise you on which stocks to buy or sell in alignment with your investment goals.
Choose a reliable online stock trading company
or broker with expertise in the stock market and portfolio management. They should also be registered with SEBI. Ajmera x-change is one such reputed online financial trading platform. They conduct an in-depth analysis of your financial goals. They offer a powerful trading platform and mobile app for equities, commodities, currencies, and mutual funds in both domestic and international share markets
2. Open Demat and Trading Accounts
Your broker service firm will take you through the process of online application of Demat and trading accounts. You have to fill in your personal details, bank details, PAN number, etc. You will also have to upload Know Your Customer (KYC) documents that include identity and address proofs. After successful verification, you will receive your login credentials and you can start trading.
If you open Demat and trading accounts with Ajmera x-change, you have to pay zero account opening charges and zero Annual Maintenance Charges (AMC) for the first year. There is zero paperwork which means that the entire process will be smooth and quick. You will also get a margin trading facility.
3. Do Fund Transfer to Your Trading Account
You need to add money to your trading account to start trading. You can transfer funds using payment gateways of banks or via NEFT, RTGS or IMPS. It is advisable to retain the screenshot of the online fund transfer and save it for your records till the money gets credited to your trading account. You can even send the record to your online trading company or broker.
4. Explore and Start Trading
Once you log on to your trading account, it will display the real-time market prices of shares for that day. Before you start buying or selling, it would be a good idea to explore the trading platform to familiarise yourself with its workings. If there is a stock you would like to buy, do its technical and fundamental analysis to make informed decisions. You can even seek advice from your online broker to get recommendations on which stocks to buy or sell.
Online trading is a safe and convenient way to start your stock market journey. If you are still apprehensive or need more information, get in touch with Ajmera x-change.