Everyone has the dream of making money. The easy way is to make money using the commodities and stock market. This is the biggest financial trading institute that works from Sunday evening to Friday evening 24×7 hours a day. You can buy commodities and stock and sell them for a profit.
Check the reviews on the trading houses
To get the Best Trading Account India has at the moment, you must read the reviews of the trading houses. You will find this the trade magazines. You can select different types of trading accounts and different types of brokers also. This will depend on how you want to operate the account.
For instance, the seasoned trader who does not need any advice but relies on his own personal experience will choose the discount broker for two reasons. One is that the discount broker will not interfere or offer any advice. The second is that the discount broker is much cheaper compared to a conventional broker.
Two brokers from which to choose
So, what is the difference between the two? There is to those who are meticulous in their dealing. The full-service broker offers advice on the current market situation and maintains the account for the trader. He will take care of the financial planning and manages portfolios. You get tax tips and retirement planning. All this for a higher commission than that you give to the discount broker. But, the service is much better.
The first step to establish your place in the trading zone is to pick your broker. Choose the top two brokers in the country according to the ratings. Once you have the Best Trading Account India has at the moment, you are sure to make money. Even then, take care not to push things but go with the tide.
Learn by attending online courses
It is advisable to join some coaching class in trading if you are not an expert. Do not join any cheap coaching class as they tend to be misleading. You will not learn much there. Instead, spend your time at an expensive coaching class and learn there for at least one year. Then, you will have the confidence to conduct profitable trades.
Now, it is time to choose the type of trading account you want. To open a trading account, you must pay the fees. This is the account opening fee. You need to make a deposit and the minimum deposit ranges from $500 to $2,500. You must submit a form with your personal details along with the fees. If you go through a bank, you can go around the brokers and buy the stock directly from the company. This will save you brokerage fees. Look for banks with a dividend reinvestment plan (DRIP).
Every broker charges a fee for trading which is cheap. This rate depends on the broker but is about the same wherever you go. This is about $5 to $15 per trade and these are the cheapest among everyone. Normally, discount brokers belong to these two classes (this and the next one given next). The mid range brokers charge between $20 and $35. They offer better services and offer more amenities.