Published : May 18, 2020
Share trading online is done through an online platform that could be on your laptop, Smartphone, or Tablet. The online share trading platform can also be used for trading or investing in mutual funds, equities, and commodities. Most of the brokers in India are providing online share trading facility these days. The process of online trading is much smoother and faster than the traditional call and trade facility. The number of participants in the share market has been vastly increased after the online trading features provided by the brokers. Traders also feel ease in trading as they can do trading on their fingertips. The account opening process has also been transferred to digital from the tedious paper-based process. Technology has also increased after the online trading commencement. The information provided by brokers on online platforms is also a critical factor in the growth of share trading online. The cost for brokers is also reduced drastically after the incorporation of their online trading platforms.
Documents Required for Opening share trading online Account:
The documents required for opening an online trading account with the broker are similar among all the brokers. The list of required documents is given below-
You may submit any one of these as an income proof:
You may submit any one of these as identity proof:
You may submit any one of these as address proof:
Power of Attorney (POA) Requirement in share trading online:
A power of attorney or POA is written permission or authorization given by you to your broker to represent you or act on your behalf in personal affairs, business, or any other legal matter specified in the POA.
How to do Share Trading Online:
The very first step towards online trading is to open an online share trading account with your broker. The process of opening a trading account is very quick, it only takes several minutes to open your account if you have your documents handy with you in digital form. You will have the flexibility to choose the segments from equities, commodities, and currency. However, I would recommend having access to all the segments as you never know where you can have the best opportunity. After the account opening, you can have access to the broker’s platforms. Most of the brokers have smooth technological software. There is three modes of trading available with most of brokers-web based, mobile apps, and separate software for desktop use. You can use any of the suitable modes to trade with ease.
Fund Pay in and Payouts:
Now the next question is how you would be transferring your fund to broker or withdraw your idle fund. Well, all the brokers have the facility to transfer online funds to the broker or withdraw funds online. Brokers have a separate platform for fund transaction processes such as back-office software. You can pay in and payout your fund instantly with the help of NEFT or most famous UPI transactions.
Back office Requirements:
The back office requirements such as contract notes are available to download on the back office software. You can also view your shareholdings in the Demat account. There is a lot more information available to see about your trading transactions on these platforms.
Brokerage charges and other charges:
If you choose to open your account the online way the charges are much cheaper as compared to the traditional account opening. As share trading, the online process takes less cost to run the business as compared to the traditional process, so the brokers give a discount to their clients on the various charges. Brokerage is also much lower in the online brokerage system or discount broking system.
Share trading online has become the thing of the future as most of the trading has been done via discount brokers currently. People are feeling ease by doing trading at their convenience. As the charges of brokerage have been reduced drastically this has also moved people to go through a discount brokerage.
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