What is a Trading Account?
A trading account is vital for investing in the share market. While opening a Demat account is the first step towards trading in the stock market, opening a trading account is the next and mandatory step to buy and sell shares in India.
A Demat account is used to hold the shares and securities, a Trading account is used to buy or sell shares and securities. In other words, a Demat account allows you to store your already purchased shares and securities while a Trading account is where the actual transactions take place.
Benefits of having an Online Trading Account in India
With an online trading account, you can simply use your trading account from anywhere in the world to buy or sell shares and securities. This has not only simplified the entire share-trading process but has also facilitated extremely quick settlements and deliveries.
You can open a trading account only through a registered stockbroker like India Infoline, which acts as an intermediary between you and the stock exchanges. A unique user ID is mapped to every trading account, and each account is protected by a password for additional security.
Apart from the convenience of being an online facility, here are some other reasons why you need a trading account in India:
1. Access to Multiple Stock Exchanges via a single platform
An online trading account allows you to trade in multiple stock exchanges simultaneously. You can access all the leading stock exchanges in India such as the Bombay Stock Exchange (BSE), National Stock Exchange (NSE) etc via a single platform.
2. Access to Financial and Research Reports
Online trading accounts offered by leading full-service stockbrokers like India Infoline provide valuable information on the stock market. These reports not only enable you to make informed trading decisions, but they can also assist you in fulfilling your financial goals within the right time frame.
Trading solutions offered by new-age platforms like India Infoline come with a dedicated smartphone application to offer unmatched levels of convenience.
4. Smooth Transactions
With an online trading account backing your trades, you can smoothly and seamlessly conduct all of your stock market transactions.
5. Customizable Trading Experience
Online trading accounts offered by leading full-service stockbrokers like India Infoline are powered by state-of-the-art technologies. Trading accounts allow you to customize your watchlists, modify your orders on the go, and even set floating alerts that notify you via SMS and email.
Parameters consider while selecting the Best Trading Account in India
There are plenty of stockbrokers offering a trading account in India and choosing the best one among them can be overwhelming. Here are some tips that can help you narrow down the best trading account in India. Choose the platform that provides the following:
- Diverse Investment Options
- Stable Platform
- User-friendly Interface
- Exceptional Customer Support
India Infoline Share Trading Platforms; Tools
IIFL offers several next-gen trading platforms that are backed by cutting edge technologies. By opening an online trading account with India Infoline, you get to experience different platforms that support quick and efficient trading on the go. Here are some of the platforms and tools we offer.
TTWeb is an internet-based trading platform that operates using your web browser itself. The user interface is clean and clutter-free, making this web-based platform perfect for you when you’re trading from the comfort of your home.
This is a desktop application that you can download onto your PC. The advantage of using this desktop app is that you get to trade at impressive speeds.
3. IIFL Markets
This is a Mobile Trading App that helps you execute trades from your smartphone itself. It also boasts a host of other cutting-edge features including an advanced dashboard, a customizable watchlist, trading tips, advanced technical charting, price alerts, and access to live prices.
4. IIFL MF App
If you prefer to trade and invest in mutual funds (MFs) alone, you’ll find IIFL’s MF app extremely useful. Dedicated to helping you track and trade in MFs, this app allows you to have a test run as a guest user. It’s also equipped with top-class features such as portfolio tracking, industry news and expert views, research-based schemes, and integration with the IIFL Markets app.
The Trading Account Opening Procedure
With India Infoline, you can enjoy a hassle-free and smooth trading account opening experience with minimal documentation. IIFL offers both online and offline modes for opening an online trading account. The following step-by-step guide will explain the account opening process in detail.
- Visit our website at www.indiainfoline.com.
- Click on the prompt that reads ‘open a trading account’. The website shall redirect you to a new page, where you need to enter all your basic details in the relevant fields.
- Once you submit those details, you will receive One-Time Passwords (OTPs) on your mobile number and your email ID.
- Input the OTPs in their relevant fields and verify them.
- After verification of the OTPs, you will be required to fill in a trading account opening form.
- Once that is done, a Relationship Manager (RM) shall contact you on your phone or your email regarding the documentation requirements.
- Upon completion of the documentation process and the subsequent receipt of all the signed forms, your online trading account will be made operational within 24 hours.
By opening a trading account and linking it with your Demat account, you can make the most of the electronic solutions available by IIFL to help you in your trading journey.