How to Use Online Trading Account?
5paisa Research Team
Last Updated: 09 Aug, 2024 07:17 PM IST
Want to start your Investment Journey?
Content
- Online Trading
- Trading Platforms Offered by 5paisa
- Start Trading
- Best Practices to Follow When You Use Trading Account
- Looking to Reactivate Your Trading Account?
Online Trading
After carefully selecting a stock broker best suited to serve your needs, you need to open a demat and trading account. Different brokerages follow different procedures to open an account. With technology-led brokerages such as 5paisa, you can open an online account in a simple, hassle-free, quick and paperless manner. All you need to do is plug in your personal details, submit relevant documents, add bank details to get your account activated.
Now that you have taken the initial few steps of opening an online trading account, let us understand how you can make the best use of this account.
Trading Platforms Offered by 5paisa
- 5paisa Trading App
- Trade Station 2.0
- Trade Station Web
- Developer APIs
- Algo Trading
- FnO 360
- Trade on Charts
All of these platforms enable you to trade/invest in a wide variety of products i.e. stocks, mutual funds, derivatives, commodities, currencies anytime, anywhere.
Start Trading
Transfer money to your trading account from your bank account and you are ready to transact by leveraging above-mentioned online trading platforms. You also have the option to use margin provided by brokerages. Under this facility, the broker part-funds your short-term trades.
Types of orders you can place
- Intra-day orders (buy and sell stocks in a single market session)
- Delivery orders (stocks purchased and held for more than a day)
Place an order in these easy steps
- Select the type of order you want to place (intra-day or delivery)
- Quote the price at which you want to buy or sell shares
- Select the number of shares/units/lots
- Submit on the e-platform or through a phone call to our team
After you place the order, the order moves to the respective stock exchange. The terms of the offer will then be agreed by another market participant. This would complete the transaction. After completion of the order, the selected number of shares are credited/debited from your demat account and the amount of the trade is deducted/added into your bank account.
Best Practices to Follow When You Use Trading Account
Follow these best practices to realize the full potential of your investments.
Ensure the learning never stops
- Get the basics in place
- Understand key trading terms namely buy, sell, IPO, portfolio, quotes, spread, volume, yield, index, sector, volatility, etc.
- Make full use of the research and insights provided by the brokerage
- Join beginner or advanced course in 5paisa FinSchool to take a deep dive into the world of investments
Stay prepared, use all tools available at your disposal
- Know your financial goals and form a well-defined strategy to achieve those goals
- Stay upto date on the latest developments around your investments
- Identify quality stocks based on your investment goals and add them to your portfolio
- Play virtual stock market games to build your knowledge on investing strategies
- Identify investments carrying lower risks, high reward potential
- Be patient, believe in the long-term growth opportunities
- Diversify your investments across asset classes as well as stocks based on your financial goals
- Track your investment closely (entry, exit, lessons learnt in a session, etc.)
Looking to Reactivate Your Trading Account?
Your online trading account might have become inactive due to several reasons. You may have multiple trading accounts linked to your demat account and you might be using one or two accounts more frequently than the rest. Another reason could be that your trading activity must have reduced altogether. However, you can easily reactivate your trading account if you wish to return to the world of investing. First step is to complete the KYC process, which may involve online in-person verification (using webcams). Coordinate with your DP, who will take care of the entire process. In case you own multiple trading accounts, it is advisable to reactivate all accounts and close the irrelevant ones to make your investing/trading process more seamless.
More About Online Trading
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- How To Read Candlestick Chart In Stock Market?
- How To Make Money in Intraday Trading?
- Delivery Trading in Stock Market
- Supply and Demand Zone
- Proprietary Trading
- Pullback Trading Strategy
- Arbitrage Trading
- Positional Trading
- What is a Bid-Ask Spread?
- What Is Pair Trading?
- Volume Weighted Average Price
- What Is a Breakout Trading?
- Equity Trading
- Price Action Trading
- Buy Now Pay Later: What it is and how do you benefit
- What is Day Trading?
- What is Trend Trading?
- What is Swing Trading?
- Day Trading vs Swing Trading
- Day Trading for Beginners
- What is Momentum Trading?
- What is Margin Trading?
- What are the Types of Online Trading?
- Intraday Breakout Trading Strategy
- How does Online Trading Work?
- Difference between Intraday Trading & Delivery Trading
- Day Trading Strategies & Tips
- What is Intraday Trading?
- Advantages & Disadvantages of Intraday Trading
- Online Stock Trading Tips
- Difference Between Online Trading and Offline Trading
- Online Trading for Beginners
- Everything you should know about online trading tools and platforms
- Advantages Of Online Trading
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