There was a phase when investors had to completely rely on their brokers for buying and selling stocks from the equity or financial markets. Every time you want to buy or sell the stock, you have to call your broker say him over the phone to execute the transaction on your behalf. And apart from giving them funds in advance you also need to provide various details to verify your identity and authenticate your order to complete the transaction safely.
But now with the technological developments the entire trading and investing mechanism has changed making the buying and selling process not only easier but also available to end-users as per their feasibility and accessibility through the cross platforms.
Now you can trade and invest with various online trading platforms that offer completely personalized and customized trading and investing solutions to customers with accessibility across the various segments in the financial markets.
These online trading platforms are featured with unlimited benefits that we are going to discuss now in this article with the top advantages of using online trading platforms like customised trading websites or smartphone-based mobile applications.
What is Online Trading in the Stock Market?
Online trading is completely an online trading facility for customers that is offered through online websites or mobile-based applications. Here users get access to such platforms through their brokers with the facility to watch the real-time data of the stock market and place the buying and selling orders if through PCs, tablets or smartphones.
These online trading platforms have multiple advantages you should know, especially if you are looking to start investing or trading in the stock market. The advantages of online trading will not only encourage you to start trading as soon as possible but also help you to make better utilization of such online apps. And that is possible only when you become aware of the features of such online trading applications and facilities offered by the brokers.
Benefits of Online Trading
The benefits of online trading platforms are mainly dependent on the user. How you can make the best use of the features available for trading or investing and apart from essential features what are the additional features offered by your broker or the apps? Hence, to make the best use of such online trading applications you must know the top features and their benefits.
No Participation of Middleman
The most important and one of the best features of online trading platforms is there is no or almost negligible participation of middlemen. Yes, here you have to perform yourself everything like accessing your trading account, checking the market data and placing the orders while buying and selling the stocks through the online trading apps.
This not only helps to save your time but also reduces the cost of transactions as there is no middleman involved so you don’t need to pay any advisory or additional trading charges to anyone. You can find stock market-related information here with real-time market data, stock prices, the latest news, and research reports and can make decisions accordingly.
Trade with Real-time Market Data
In earlier times when you call your broker to know the market conditions or place the orders, while conversing on the phone the market data keeps changing. But now with the advanced and highly efficient internet connectivity to various devices like laptops, tablets and smartphones, you can check the market data on a real-time basis with auto refresh features.
Apart from market data, you can also check the accurate and updated stock price at the time of placing the orders. The market data feeds come directly from the stock exchanges and are updated automatically on online trading platforms or applications. You can make better decisions by placing orders on limited prices or putting the stop-loss for intraday trading.
Ease of Transaction or Placing the Orders
The online trading platforms provide additional ease of transaction facilities to end-users. You can carry out the transaction anytime during market hours at your ease. Even a few online trading apps provide the facility to place orders on pre-open markets so that you can put your order even when the market is not running and you don't have time.
You can place customized orders at market price or limit price, you can select, adjust or modify your order quantity and choose the stock exchange while placing the orders. Moreover, you can place your order for intraday trading or for delivery making your trading experience completely personalized and customized as per your ease of use.
One of the best features of online trading platforms in India is that provides user’s facility to access their online trading account through different devices. Apart from web-based online websites, you can access and trade into your trading account through Android or iOS-based smartphones or tablets with round-the-clock multi-device accessibility to all devices.
This feature helps you to choose to trade either on a web-based application or use your smartphone as per your ease and feasibility. You can use your login details while accessing your trading account on any device desktop, laptop, mobile or tablet connected to the internet with all the facilities to trade and trading features to execute your transactions.
Flexibility of Access and Use
One of the merits of an online trading platform is the flexibility of access and use of your trading account anytime, anywhere and on any device as per your ease. Apart from market hours, you can check your trading account anytime, your demat holdings and analyse the portfolio to make the right decisions making your trading or investing more profitable.
Also Read: Golden Rules of investing in Stock Market
While using online trading apps or websites there are no restrictions on accessing your trading account, placing the pre-open market orders or transferring the funds between your bank account and to trading account. These online trading platforms provide flexibility to users so that they can make the best use of their trading accounts with ease.
Execute the Order Quickly
Using the online trading platform you can place your orders quickly with one click. Yes, here you will get the updated market data with the latest prices of all the listed stocks, and you can choose any of them and place the orders directly from there with quick execution.
This kind of fast trading facility through online trading platforms is more helpful when you perform intraday trading and minor changes in prices matter for you. With updated and real-time price data of stock, you can exit anytime for profit booking whenever you want. The quick and fast trading facility helps to perform more transactions frequently.
Low Transaction Charges
When there is no middleman involved in the online trading facility, the cost of brokerage also comes down resulting in you having to pay less charges of any other fees regarding the trading-related services. Even the top discount brokers in India offer low-cost trading facilities through their online platform with high margin money for intraday trading.
Nowadays, due to intense competition in broking services, brokers for the share market offer fixed rates of charges on every trade with unlimited transaction facilities. In the intraday trading and F&O segment, these brokers are offering their online trading platform with the cheapest brokerage fees and lowest transaction charges for low-cost trading.
The online trading platforms or mobile applications are specially designed and developed while considering the various factors to make the user-friendly interface. This helps users to navigate or find all the useful information and easily access the tools and functions like applying the technical charts or indicators while analyzing the stocks for trading.
Moreover, you can also customize these applications as per your needs and usability. You can change themes, add stocks to the watch list create the alert for any stock or index, and set the by-default settings to open the dashboard showing as you want. There are various functions and settings you can use to make the entire user interface personalised.
Access to Research Reports
Not all, but most of the broking companies along with online trading also have a team of well-qualified and experienced analysts or market experts who perform fundamental analyses and technical analysis to create useful research reports for their clients.
These research reports are also uploaded on the websites of the brokers to make them accessible through these online trading platforms and also mailed to clients helping them to get the detailed and comprehensive analysis of stocks for the buying.
Monitor your Investment
The online trading applications and web pages are fully customised with various functions. One of them is, you can check or monitor all your investments and portfolio here. Apart from equities, commodities or currency markets, you can also check your investments made into mutual funds, ETFs, bonds and other securities with sector and category ratios.
Using the advanced tools and techniques you can perform the portfolio analysis and performance of your investment to keep reshuffling the stocks from different sectors to make your portfolio investment completely diversified and well-balanced. And you can check your investment with real-time price effects showing on each stock you have invested in.
Transparency in Transaction
Most of the online share trading companies have now clearly defined the broking charges, transaction fees and any other duties levied through online trading platforms. You can use the brokerage calculators to find out the brokerage, securities transaction tax, GST, SEBI charges, stamp duty and exchange transaction charges etc. levied on your trade.
This kind of transparency in stock broking services helps investors choose the best stock broking company or trade with the best trading app in India. Before starting trading with your broker you should check the transaction charges or broking fees charged on different types of trade like intraday trading, delivery-based trading and in the derivatives segment.
24-hour Customer Support
While using online trading platforms or investment apps, you can face technical as well as non-technical issues. And here you need someone to help you solve the issue as per your ease and availability. Earlier customer support service was available only during market hours, and many times customer executives were busy, so not immediately attend your calls, but now owing to AI-based customer support the scenario has completely changed.
Yes, these chatbots are integrated with online trading applications or websites, and whenever any customer needs help, they are ready to assist immediately. You can ask your query and get quick answers to your problem. However, during market hours you can call customer executives for queries that are not solved here but you can get online help anytime with round-the-clock assistance on your mobile or any other device with quick solutions.
Safe & Secured with More Control
Apart from all the above advantages, using these online trading platforms is highly safe and secure as you have full control of your trading and demat account. To access the trading account through an online trading platform offered by your broker, you need a unique user ID and password with a certain authentication process like OTP sent to your mobile or mail ID. You can change the login details anytime if you find any suspicious activity there.
Earlier in the conventional trading system, your broker had full control of your account and you didn't have such a facility to check what's happening with your investment. Though, your broker has the authority to get access to your trading account after your permission you also have the control to check your funds or portfolio and other activities. This kind of personalized online trading system offers a highly secure and safe trading facility to end-users.
Other Features of Online Trading Platforms
Similarly, there are many more advantages of using online trading platforms for trading or investing in the stock market. Using these trading apps, you will have access to the information or latest news from the financial markets including economy, sector or industry and company-specific news that can affect the price of stocks or overall markets.
Moreover, you can also simultaneously check the global indices and other activities happening in the stock markets around the world. Company’s corporate actions, quarterly results declared, ongoing IPOs or FPOs and stock recommendations or intraday trading tips, you can get everything here from a single point available here at your online trading platform.
How to Choose the Best Trading App in India?
In India, you can find many discount broking firms and big broking companies having their own customized online trading platform for their clients. It is not necessary for all the trading apps or online trading platforms must have all these features and trading facilities. Here you need to check the demo before choosing the best discount brokers in India.
However, it is hard to find all the features in every trading platform and even most investors or traders do not use all the features while trading in the stock market. But you should consider various points while choosing an online trading platform for trading and make sure whatever functions or trading facility you are going to use is available there or not.
Using online trading platforms for trading or investing is no doubt becomes more convenient and user-friendly but also cost-effective making the financial markets accessible to mass people. Compared to the old trading system in the stock market, you can find trading platforms not only user-friendly but also very interesting with one-click access to your mobile.
However, due to a lack of knowledge and skills in using such advanced trading applications, few people still prefer to call their broker and ask for trading on their behalf. But now most people use Android and iOS-based smartphones that are easy to use and operate various functions including trading applications that can be installed on your device.
However few discount brokers are completely offering their broking services through these trading apps, and they are not involved in full-fledged broking services. And while using such apps or trading if you need help from your broker it becomes difficult to contact them immediately. The top and best Indian stock broker offers both kinds of services – an online trading facility through an app along with trading on a phone call-based trading system and a research team to help customers make the right decisions in buying or selling the stocks at the best levels or at the right time.
Here you can choose the Moneysukh which offers one-stop trading and investing solutions in equity, commodity and forex markets. Along with a web-based online trading system, Moneysukh is also providing one of the best trading apps in India. You can use the Trade Radar – one of the best online platforms for intraday trading with all the advanced features.
Using Moneysukh’s online trading platforms you can trade in stocks, commodities and currency markets. Using this app you can trade with advanced charting systems like TradingView candlesticks charts and other tools and best technical indicators to perform the fundamental analysisor technical analysis to select the best stocks for intraday trading or for long-term investments as per your ease and affordability to put money at such risky place.
Moneysukh also provides the Algo trading facility and offers one of the best Algo trading platforms and trading strategies to traders who take advantage of high-frequency trading and earn some extra bucks from the markets with frequent trades.
So, what are you waiting for, if you want to enjoy the services offered by Moneysukh, you just need to just open a trading account and demat account here and enjoy trading or investing at one of the best trading platforms in India at best pricing.