What are the Benefits of Online Stock Trading?
Posted on May 10, 2021 | by Shinely Ainsworth
We all know the importance of saving money and investing it in a sector that can yield you good returns. Nowadays the stock trading has become the most popular way of investing money. With the help of advanced technology, stock trading has now become online stock trading. Now, this process has become as simple as buying groceries and other stuff online.
Online trading in South Africa involves buying and selling different trade stocks with the convenience of sitting at your home. For undertaking the process, the only simple way is to open a Demat account with any of the SEBI registered brokers. All the documents need to be submitted online like the Aadhaar card, Pan Card, address proof, etc. Just under few minutes, the Demat account is opened, and you are good to start the stock trading.
There is a list of benefits of online stock trading. Let’s have a look at them.
- Very simple process: There is no doubt in saying that the process is very simple. Any person that knows how to operate the smart device and also has basic knowledge about the market can start their online trading.
- Less expensive: In comparison to the traditional model of trading, online stock trading is far less expensive. Earlier the trading used to include a lot of charges in the form of brokerage fees or commission that always increased the overall cost. All these charges are not included in the online trading.
- Less time consuming: Technology has made it possible to have all the information right in your hands just by clicking on your smart devices. So it is quite obvious that online stock trading is one of the less time-consuming processes and has now become very seamless. Earlier to do any transaction, either buy or sale, the person needs to call a broker that used to consume a lot of time. Now all this work can be done on smartphones.
- Complete control: It provides the person with the advantage of having the complete over the portfolio. The person can check the prices of shares anywhere and at any time. According to the change of prices, he can make all the possible decisions that will help him to earn money. This complete control has provided the person with great flexibility in the processing.
- Fewer chances of error: In the traditional trading modes, there were a lot of chances of errors that might be due to miscommunication between trader and broker. But now everything is done on the online platform, all the orders for the purchase and sale are done without committing any of the mistakes.
- Access to research reports: The person needs to have the access to the financial reports and analysis of the market. So that he can make the best decision regarding investments. Earlier the reports were not available in real-time that might cause huge loss to the person.
In nutshell, it can be concluded that online stock trading is the revolution in this field. Platforms like 5paisa are providing a great way to boost the knowledge of their clients for trading. It is one of the safest platforms for investing in stocks.