Most investors are by familiar with the merits of online trading account and applying it extensively. The most important thing about online trading is not the technology or the speed. It is that online trading puts the customer at the centre of the entire piece. It is not about the broker or the dealer or the analyst. The customer is the nucleus of the entire activity. That is where the real importance of online trading comes in. Of course, you can read up online trading account reviews and opt for your online broker. Here we tell you how the internet trading account actually empowers you?
1. It is simple and secured
You just need your user name you password and your second level of authentication to start trading. You can access your trading account on your PC, laptop, smart phone, and notepad or even through a downloaded app. It is also safe and secure as per SEBI stipulations so don’t worry about your data getting filched. You must take some basic precautions and you are good to go.
2. You get greater control over your investing
Online trading is a lot more about control. You are the one who places the order. You are not dependent on a dealer or trader to place orders on your behalf. You may not be able to get across to the dealer or you may realize that you are not getting the best price. Online trade obviates all that. You have total and absolute control over your investments and you can use your judgement.
3. Cost wise, it is more economical
Typically, brokers offer you lower brokerage on internet trading since most of the tasks are done by you. The broker does not have to maintain front office infrastructure and just a back-end call-n-trade facility is good enough for online traders. These cost savings are normally passed on to you.
4. You can trade from anywhere and don’t have to work the phones
It does not matter whether you are in Delhi, Rajkot, and Chennai or even in Dubai. You can access your trading account from anywhere and put in your orders. The online trading platform virtually becomes a 24X7 trading platform for you.
5. You can place the order, modify and also cancel the order in a click
Most of these are the click of a button. You can place the order at the best price or you can place the limit order and wait for the price. If the order is not yet executed, you are at liberty to modify the price and quantity. You can also cancel the order if you change your mind, assuming that the order is not yet executed.
6. It is transparent; you can see the execution from end to end
Transparency is the big factor that favours online trading. You see the bids and you see the order being executed on the screen in front of you. You can open the Order book and check your pending orders. You can also access your trade book and take a look at orders and the details of the execution. Everything is in front of you and you do not have to wait till the evening to get your contract note and then check the details of your trades.
7. You have access to a plethora of online tools
Online trading, in most cases, is not just about execution but also about research ideas and screeners. Effectively, these are all tools to help you perform better and more seamlessly. These online tools go a long way in giving you a better trading experience.
8. Normally, research tends to be aligned with call-to-action
This is something most of the savvier brokers are already doing. Say, you read a news item and want to take a trade, and then what do you do? Your online trading account will allow you to click on the news item and execute the trade. That is a lot of power and flexibility on your finger tips.
9. Your trading account, bank account and demat account are a single chain
No cheques, no DIS slips and no contract notes. Everything is one seamless cycle. You fund your trading account online with your bank transfer and then execute the order. The shares automatically go into your demat account on T+2 day. When you sell shares, these shares are automatically debited to your demat account. Everything is online and at the click of a button.
10. You get the power of artificial intelligence and big data at your finger tips
Last, but not the least, brokers like Motilal Oswal are also combining the power of artificial intelligence, machine learning and big data to give you investment solutions that are highly sophisticated, yet can be accessed online. This is useful in fine tuning your investment decisions.