Those who want to get some side income the trading in the stock market can be a good option. It is though simple, one needs to have knowledge of the market as well as trades. In this era of technology, one can also go for the trading on his own with the help of the online trading account. However, it depends on the trader what he prefers as per his schedule as those who are busy with job or business may also go for the offline trading account.
The trading account:
There are two types of trading accounts which include offline one and online. As per the requirement of the client, he can go for a particular trading account and hence the best trading account purely depends on one’s requirement. The offline trading account is the one where the trader can get the support of the bolt operator who keeps him updated about his positions if there is any and also guide him about his billing etc. In the online account one does not get any such support, and hence he has to carry out the trade on his own only. Hence in case one wants to go for the online account he needs to have an arrangement of a computer and high speed internet to place the order. One can also place the order with the help of smartphone, but he needs to have internet on it also.
The brokerage is also an important part of the trading or investment in the stock market. Any of the trade attracts brokerage charges. However, the charges may vary from broker to broker or company to company. It can be a fixed amount, or a percentage of the turnover depends on the terms decided between the client and the service provider.
There are brokers who offer low brokerage rate on the online account and hence to save the brokerage many traders prefer to have an online account. However, here one must remember that the online account is one where the client needs to operate, and he is not provided with any support from the branch. He has to set all the limits and hit the transactions himself only. In the offline account he is supported by the terminal operator, but in an online account, even the opening of credit and checking of balance is also needed to be done by him.
The online account is good for one who has either a smartphone or a computer with internet connection and has enough time to keep an eye on the market.
Many brokers also offer low brokerage rate if the client has a high volume of trading. In such case, the broker can check his statements, and if he thinks fit and beneficial to take the client, he can offer low brokerage rate. In case a client offers a fixed amount of brokerage in advance also many brokers offer trading at reduced or no brokerage in a specific period. Hence one needs to check all the required pros and cons before opening the account.