If you’re new to the world of stock trading, you may not be aware of how and where to start your trading journey. If you’re among the few individuals who fall under this category, then this article will be of help to you. Here’s what you need to do to start trading with a demat account from scratch.
1. Open a demat account online
A demat and trading account is a necessary prerequisite for stock trading. And so, the first step in your new journey would be to open one for yourself. For this, you could get in touch with stock broker cum depository participants like Motilal Oswal, who offer the best demat account for beginners. That’s not all. With Motilal Oswal, you can also open a stock trading account as well.
2. Log into your trading account
Once you’ve opened the best demat and trading account for beginners, the next step is to log into your trading account using the credentials provided to you. This will give you access to the trading platform, through which you would be able to buy or sell shares on the stock exchange.
3. Add stocks to your watchlist
After logging into your trading portal, you’re likely to be greeted with an empty watchlist. The watchlist is a place where you can add stocks and monitor their share price movement. You can go ahead and add a stock to the watchlist by typing either the company’s name on the search box or the company’s trading symbol. Once you’ve added the stock, it will appear on your list along with the price details.
4. Place a buy order
Now, all that you need to do next is click on the relevant stock in your watchlist and place a buy order. When placing the order, you will have to specify certain details such as the number of shares and the price at which you wish to buy. Once you’ve entered all the required details, you can go ahead and place the order.
5. Check your demat account after T+2 days
Once your buy order gets executed successfully, the shares that you bought will get credited directly to your demat account. That said, it would take up to T+2 days for the shares to get transferred to your account. This effectively means that if you purchase the shares on a Tuesday, they will get credited to your demat account only on Friday.
As you can see from the above steps, trading with a demat account from scratch is extremely easy. So then, what are you waiting for? Visit the website of Motilal Oswal right now and open a demat account for free.
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