Here’s a beginner’s guide for opening a Trading Account

Desh Dunia By Desh Dunia, 12th Jun 2017 | Follow this author | RSS Feed | Short URL http://nut.bz/nb00xxqm/
Posted in Wikinut>Business>Investment

On the whole, there are several online trading platforms, where you can trade various products, including equity trading, commodity trading, currency trading, derivatives trading and forex trading, and that too on zero trading account charges.

How to open a trading account? Here’s a beginner’s guide

Trading account is basically a platform used to buy or sell orders in the share market. Thus, to start with share trading, first you need to open a trading account. This account helps you to trade seamlessly in the stock market. So, all beginners out there, follow these steps mentioned below on how to open a trading account:

1-The first step is to select a stock broker or a firm. You must ensure that the broker is responsible and will take your orders in a timely manner. Always remember, time is very important in the stock market. Even a few minutes of change can alter the market price of the stocks. Therefore, for this reason, you must ensure that you choose a good broker.

2-Afterwards, you need to compare the brokerage rates. As every broker charges you a certain fee in order to process your orders. Some may charge more while some may charge less.

3-Some of them give discounts on the basis of the amount of trades conducted. Thus, you should take all these points into account before opening a trading account. Although, it is not essential to choose a broker who charges the lowest fees. Sometimes, good quality brokerage services may require you to pay higher-than-average charges.

4-Thereafter, you are supposed to get in touch with the broker or brokerage firm and need to enquire about the account opening procedure. Later, the firm would send a representative to your house with an account opening form and a KYC form.

5-You are required to fill up these two forms. Submit them along with the two documents that serve as an address and an identity proof.

6-Your application will then be verified through an in-person check or on the phone, where you will be asked for your personal details.

7-You will be provided with trading account details once processed. You can then begin trading in the stock market.

On the whole, there are several online trading platforms, such as Angel Broking, where you can trade various products, including equity trading, commodity trading, currency trading, derivatives trading and forex trading, and that too on zero trading account charges.

Tags

Online Trading Account, Trading Account

Meet the author

author avatar Desh Dunia
Always be happy;)

Share this page

moderator Peter B. Giblett moderated this page.
If you have any complaints about this content, please let us know

Comments

Add a comment
Username
Can't login?
Password