Are you interested to know some interesting tips for staring online trading? Stock trading has become super simple and exciting with online trading platforms. Whether you are trying stock trading with a special objective or you are doing it for fun, stock trading can result in incredible gains if you do it the right way.

In this post, we’ll share 5 ways to start trading stocks online. Let’s begin.

1. Is Stock Trading a Perfect Decision?

Stock trading can prove a perfect option for you if:

  • The aspiring investor is investing in an IRA or has reached 401(k). 401(k) plans may not allow individuals to invest their funds in stock. However, they can opt for index and mutual funds. Fortunately, you can buy or sell stocks if you have an IRA account. In fact, trading with the IRA account can be a lucrative option, since there is no requirement of taxes on capital gains.
  • You are all set to achieve your retirement objectives.
2. Learn About Stock Trading

You are not playing a random game. The stock market is one of the unpredictable market segments, where only people who make sound decisions succeed.

Before you step into this market, you must get proper education on the stock exchange and the risk associated with it. You don’t want to lose all your earnings because of a silly mistake.

Luckily, there are many websites and books that teach users online stock trading tips. You can take online stock trading educational courses to learn about the stock market and understand all its terms. You can also look for an expert stock trader who’s ready to guide you throughout the first trading process.

3. Select a Broker

The next step to making your first online stock transaction is searching for a reliable online broker. If you already know your requirements, you can search for the reliable brokers online that match your needs and offer the best services.

  Open Your Online Trading Account

The customer support system, low commission ($4 to $10), educational resources, and proper guidance are some of the crucial factors that must be considered while searching for an online broker. Other than that, you must check the broker’s trading software. Beginners are often on the lookout for an easy-to-navigate, secure, and reliable trading software.

4. Search for Stocks

You have opened your account, and you are all set to make your first investment. So, how do you choose the best deal? Which stock should you choose for your first investment?

Well, new beginners start their stock research by checking and assessing the company’s profile and the risk associated with the investment. They check the history of the company, its financial filings, earning data, and SEC reports to find out how safe it is to purchase their stocks.

Some people even hire outside agents to conduct research on the company’s profile and their trading records. Fortunately, you don’t have to conduct this research on your own or hire an analyst for the job. The stockbroker you have chosen will provide you with the recent company news and its details.

Once you land the best company, start the investment with a set amount of money that you are ready to lose. Try to invest a limited amount of money until you become familiar with the platform.

5. Create a Plan and Stick to It

Stock trading can be an emotional deal for beginners. For those who are new to this world, the idea of crossing the set limits and investing all your money in one go will seem fascinating. Even a small profit will fill you with positivity and lure you into making bigger investments.

Investing large amounts on stocks isn’t a bad idea. But there’s no guarantee that the investment will give you profitable returns. You must know your risks and make an investment only if you are ready to bear the risk of losing all this hard-earned money.

Investors who play the game practically are the ones who achieve heights in the stock market. If you want to get the best returns, you must play safe. Plan your trading in advance. Decide how much you want to invest, what risk are you ready to bear, when is the right time to back out.

You must use stop-loss to minimize your risks. Beginners who set stop loss do not invest in a stock after a certain limit. This saves them from heavy losses in the future.

Wrap Up

Stock trading is all about the knowledge of stock exchange and a proper plan. You cannot just enter the stock market and start spending your money on random stocks. You don’t want to end up losing your hard-earned money because of your unprofessional decisions. You need to learn to be smart when entering the stock market.

Also, Read: How to Start Your Career as a Sub Broker? Gill Broking

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It is, therefore, important to learn both the pros and cons of intraday trading to get a better idea of how this market works and how exactly you can grow your money. In this post, we will walk you through a few advantages and disadvantages of intraday trading. So, keep reading to learn more.

• Beware of fixed/guaranteed/regular returns/ capital protection schemes. Brokers or their authorized persons or any of their associates are not authorized to offer fixed/guaranteed/regular returns/ capital protection on your investment or authorized to enter into any loan agreement with you to pay interest on the funds offered by you. Please note that in case of default of a member claim for funds or securities given to the broker under any arrangement/ agreement of indicative return will not be accepted by the relevant Committee of the Exchange as per the approved norms.
• Ensure that pay-out of funds/securities is received in your account within 1 working day from the date of pay-out.
• Be careful while executing the PoA (Power of Attorney) – specify all the rights that the stock broker can exercise and timeframe for which PoA is valid. It may be noted that PoA is not a mandatory requirement as per SEBI / Exchanges.
• Register for online applications viz Speed-e and Easiest provided by Depositories for online delivery of securities as an alternative to PoA.

• Do not keep funds idle with the Stock Broker. Please note that your stock broker has to return the credit balance lying with them, within three working days in case you have not done any transaction within last 30 calendar days. Please note that in case of default of a Member, claim for funds and securities, without any transaction on the exchange will not be accepted by the relevant Committee of the Exchange as per the approved norms.

• Check the frequency of accounts settlement opted for. If you have opted for running account, please ensure that your broker settles your account and, in any case, not later than once in 90 days (or 30 days if you have opted for 30 days settlement). In case of declaration of trading member as defaulter, the claims of clients against such defaulter member would be subject to norms for eligibility of claims for compensation from IPF to the clients of the defaulter member. These norms are available on Exchange website at following link: NSE, MCX

• Brokers are not permitted to accept transfer of securities as margin. Securities offered as margin/ collateral MUST remain in the account of the client and can be pledged to the broker only by way of ‘margin pledge’, created in the Depository system. Clients are not permitted to place any securities with the broker or associate of the broker or authorized person of the broker for any reason. Broker can take securities belonging to clients only for settlement of securities sold by the client.

• Always keep your contact details viz. Mobile number/Email ID updated with the stock broker. Email and mobile number is mandatory and you must provide the same to your broker for updation in Exchange records. You must immediately take up the matter with Stock Broker/Exchange if you are not receiving the messages from Exchange/Depositories regularly.

• Don’t ignore any emails/SMSs received from the Exchange for trades done by you. Verify the same with the Contract notes/Statement of accounts received from your broker and report discrepancy, if any, to your broker in writing immediately and if the Stock Broker does not respond, please take this up with the Exchange/Depositories forthwith.

• Check messages sent by Exchanges on a weekly basis regarding funds and securities balances reported by the trading member, compare it with the weekly statement of account sent by broker and immediately raise a concern to the exchange if you notice a discrepancy.

• Please do not transfer funds, for the purposes of trading to anyone, including an authorized person or an associate of the broker, other than a SEBI registered Stock broker.

• Do not deal with unregistered intermediaries (who are not registered with SEBI/Exchanges).

Names and contact details of all Key Managerial Personnel including Compliance Officer

Sr. No.Name of the IndividualDesignationContact NumbersEmail Id
1 Charanpreet GillCEO/MD011-40345555admin@gillbroking.com
2 Charanpreet GillWhole Time Director011-40345555gillbroking@gmail.com
3 Charanpreet GillCompliance officer011-40345555compliance@gillbroking.com
4Manpriya GillDesignated Director-1011-40345555manngill04@gmail.com
5Kewal GillDesignated Director-2011-40345555fvwealth@gmail.com

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