Mobile applications have become identical with comfort and convenience. Since they swept the world of personal finance, people from different walks of life are increasingly turning into investors. Gone are the days when trading in stocks, bonds and securities was the prerogative of those with the means to engage a stockbroker and aware of the advantages of accumulating wealth. Joseph Scott Audia says online trading has decreased costs for both traders and investors.
In the present times, online trading has made it easy for the common man to trade stocks with minimal interference from the broker. From websites to mobile apps, trading has become convenient for all with just a few clicks. And this has seen a huge number of participation from all age groups from across the country.
Online Trading is the process of trading your stock directly from a website or an app rather than calling the broker or other traditional methods. These platforms are offered by internet based brokers. It is very easy to access these platforms as all you need is a good computer system or mobile phone that has an internet connection and you start trading. Basically, you can easily buy and sell stocks from your home or workplace.
Before the online trading era, stock traders would contact their stockbrokers on the phone. While calls were recorded, the chances of human error were huge. While trading something as critical as leveraged stocks, especially over Intraday trading, a single error could cause massive losses.
In the case of Intraday trading, all you need is that the internet connection should be stable. Rest, everything is on a screen in front of you. Omitting the trader and phone call significantly decreases the time taken and chances of human error.
Also, when the market is volatile, the dealers of stockbrokers stay busy. That is not the case with online trading. Everything can be managed by the trader right away at the click of a button. Joseph Scott Audia says that online trading allows you to deal with stocks in real-time. This means you can check the exact price of the stock on the internet rather than confirming it from the broker every time. Also, since the trading is quick, you would get the stock at the exact price.
In the case of highly leveraged Intraday trading, even a few minutes of delay can cause losses into thousands or more.
Online Trading is no doubt a way better option than trading on the phone. It saves your time, decreases risk, is more convenient, and saves your money. There is no question on whether one should shift to Online Trading, but one needs to decide which broker to work with. With this technology, opening a demat account also has become simpler, faster, and can be done at the comfort of your home.