In the current times, people are heading towards the digital world. Smartphones are becoming the real game-changer. Everything is available on a smartphone whether you want to order food from a restaurant, book tickets online, or connect with thousands of people on the same platform, you can do all these things just by sitting on your couch.
Moreover, online trading and investing is increasing day by day. Online trading has become more convenient. You don’t need to have assistance from a broker to select your stocks or get research reports. You can simply do it sitting at your home through your smartphone.
You can trade from anywhere at any time as per your convenience. You can carry the whole stock market on your smartphone and move around without any hassle. An Online trading app has made trading and investment easier and quicker. These trading platforms have revolutionized the ways of investing in the stock market.
As more and more people are having the reach of smartphones and internet connection, more people are becoming potential traders. To learn a bit more about trading apps and benefits, let us first understand online trading.
What Is Online Trading?
Online trading refers to investing in the stock market through different online trading platforms. Online trading can be done by opening a demat account and trading account online with a registered SEBI broker.
Account opening requires mere time and can be done by submitting some necessary documents for KYC. Then on approval of your application, you will receive a unique identification number through which you can start trading without any hassle. Online trading platforms provide all the necessary information regarding stock markets, prevailing price deals, research reports, analysis of stocks, and updated market news, etc. There are numerous benefits of online trading app. Some of them are given below.
Benefits of Online Trading App
- No middlemen or brokers- There is no requirement for middlemen when you are trading through a demat account app. Investors can choose a variety of portfolio investments through app suggestions and get stock recommendations from it. Home-built automated software conducts meticulous research on its own while making it easier for traders and investors to choose from.
- Convenience- Unlike traditional trading procedures, opening a trading account online is much easier and hassle-free through a mobile trading application. It is less time-consuming thus letting you carry other trading activities while investing.
- Quick transactions- Payment and transactions are also very quick in online trading apps. These apps offer different online payment options according to the convenience of the trader so that there is a near-instant transfer of funds between accounts.
- Monitor your investments- Another great benefit of an online trading app is tracking your investment whenever required. You can keep an eye on your orders, investments, and trades with just a few clicks. Many investors and traders don’t have enough time in their busy lives to track their investments regularly. However, online trading has made it much easier now by delivering regular investment statements on their smartphone.
- Making decisions on your own- You don’t have to wait for your broker or DP to tell which stocks are best for investment. Investors can instantly make trades, view other options, and monitor their investments by themselves without any help. Hence, gaining more control over their investments.
- Cost-effective- Online trading is relatively cheaper than the traditional trading process. The stockbroker’s commission is comparatively less while online trading. The consultation fee and commission charges are comparatively higher in Robo advisors.
- Advanced charting tools and historical graphs- For better understanding, the online trading app provides a facility of online charting tools and graphs that compare the past and current stocks for better stock analysis. This helps beginners as well as regular traders to learn about stocks more efficiently and easily.
- Access to different exchanges- You get instant access to live data from different stock exchanges such as NIFTY, Sensex, NSE, etc. You can also track the prevailing price deals in the market. By visiting this site you can know Online trading app , IIFL Markets App.
Therefore, Indiainfoline has introduced IIFL Markets App for providing the best stock trading services to their customers. Through IIFL Markets you can get access to equity, currency, and commodity markets. You can customize your watchlists based on your asset preferences. Their advanced dashboard provides detailed information about indices, commodities, and currencies.