A Demat account is an online account for storing your electronic shares. You can open a Demat account through a Demat app for android or an Apple smartphone. Brokerage firms use the depositories such as National Depository Service Limited(NSDL) or the Central Depository Service Limited (CDSL). It is used to authorize and store the financial assets that you purchase from the stock market. Today, the stock market is well within the reach of any trader who wishes to invest. As the masses, today have a smartphone, and an internet connection therefore anyone with a bank account can do the online trading. So if you are excited and you are eager to improve your return then you can simply invest in the stock market. To amplify the returns you need to start investing and in a few duration, you can achieve growth by proper trading.
Stock Broker
A Broker is a medium between trader and stock exchange to manage the investor or trader’s request for buying or selling financial securities. To find a suitable broker it is important to check various aspects such as the cost, technology and the broker’s credibility. All the broker services are operated under the rule set by SEBI. You need to select a broker which passes your requirements. There are some broker platforms that provide you with AI-based tools to make better strategies and cut down the human error in stock trading.
To sum up all the qualities of a trading app you can choose your stock broker and download the trading app, You need to make sure that your broker app is easily accessible and available on multiple platforms. Keeping up with the market is one of the best practices that you can do.
The next thing you need to do is set up your trading account, if you want a quick onboarding process then you should choose a broker like IIFL Securities. They provide a complete account opening process from your home online. You need to have the PAN card and Aadhaar card to open a trading and Demat account. You need to enter your number, Email address and you are good to go. Unlike offline accounts, it’s very fast and convenient for different users. There are some criteria that you must check before selecting a stock trading app. The mobile trading app has many features and some of them are as follows:
You get live price movements
A stock market app will show you the live price of all stocks listed on the stock exchange of India. You will get the precise and accurate movement of the stock market. You also get the list of top 100 companies and sector-wise companies which are listed in the stock market.
Sector investing
Traders get a choice of investing in different sectors of companies such as small-cap, large-cap and multi-cap companies. There are also different mutual funds where you can invest in different groups of companies and manage your risk in a simple manner.
Insight & news
The trading platforms often provide some valuable information. This information and event related to the stock market help investors and traders to exit or enter into a trade. There are several resources and knowledge centres provided by the broker firm to make you up-to-date with the market and improve your trading decisions.
Advanced charting
You know that stock prices is displayed on a chart, there is a different charter technique that you can use. These techniques can help you as a trader to make use of technical strategies which a professional trader often uses for better success.
Payment options
Fund transfer or payment into your stock broker app is an important aspect if a stock trading app has a UPI or net banking option. The broker also offers card payments and other wallets to make your trading faster.
Customer support
A trading software needs to have 24/7 support to help its customer with any queries. There are some important queries by traders if these are not resolved there are chances that the customer will leave your broker app and never comes back to your trading app.
Conclusion
You can start trading from day one as soon as you download a trading app. You can invest in any type of securities and in any kind of amount that you save or wish to invest. Let your money work for you. Gain technical knowledge and often consult a financial advisor before investing. Through the online app, we can become better investors and know about the daily returns and handle different investments such as IPO, Mutual funds, derivatives and Equities.
