BEST ONLINE COMMODITY TRADING PLATFORM IN INDIA

Once you decide to opt for online commodity trading you need to comprehend some important features knowing which you can make a right choice. It gives you the confidence to handle the options in the right way ensuring that you get familiar with all optimistic facets.

Best Online Commodity Trading Platform Features To Consider

Here are mentioned the prime features you must consider:

  • Brokerage charge is one of the most important aspects of knowledge which you can gain the trust of the person.
  • Get a clear view of the margin of trading that helps you to manage the finances of earning good profits.
  • It’s always necessary to use a proper back office software accompanied by all advanced facets that help you to get your work done efficiently.
  • Make sure you get a good customer support that makes you feel confident and thus you can begin your trading.

Overall, you can now start your commodity trading online that enhances your profit margin.

Two Major Types of Commodity Trading Online

Now, here is a brief look at two major types of online commodity trading that helps to gain ample knowledge on the matter:

  • Intraday Trading: The name it self-suggests ‘within the day’ and you can seek expert advice learning detailed facets. It’s good to move with the market trend that helps you to gain profit eliminating all risk factors. You can set a stop-loss limit ensuring that you can save your money if the share suddenly drops. After you meet your desired profits it’s good to withdraw the money.
  • Squaring Off: Here, you have to buy and sell securities or doing vice versa before the market closes. The market for equities stays open from 9.15AM-3.15PM, the market for commodities stay open from 10AM-11.15PM and market for currency stays open from 9.00AM-5PM.

Intraday trading involves three main options to deposit money, trading position and trading window. First, you have to deposit an amount and you can get a trading limit. Next, he can hold the position only for that trading session, which is squared at the end of the day. Intraday traders always try to buy at a low price and then sold at a higher price.

You May Also Read- Where Can You Get The Best Online Commodity Market Tips?

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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).

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