On-line trading in stocks and shares has opened up a complete new world of enterprise opportunities each for the common investor and the stockbroker. Since online trading or brokerage don’t require big investments when it comes to man power and office paraphernalia, quite a few brokerage corporations have mushroomed all over the world. All that a stockbroker needs to start his brokerage firm is a license, which will be obtained by passing two licensing examinations, a computer, and an Internet connection. The question arises whether it’s best to open a trading account with any of the brokerage corporations you come across on the Internet. Would it not be like moving into the clinic of a doctor who has obtained a medical degree and pitched a nameplate on the gate?
Since you are entrusting your hard earned cash and your financial future within the custody of a stock broker, you should discover out what qualities should your broker have besides the official trading license and a website.
The primary essential feature of a perfect stock brokerage agency must be its website. The website should be simple, professional and informative. It ought to provide particulars about how the brokerage firm delivers more when it comes to customer services and benefits.
The website should commit enough space to educating the shoppers, both the novices and the skilled, about the entire process of making cash via trading in stocks and shares. The schooling part of the website ought to start with essentially the most elementary information required for an absolute beginner. It ought to enlighten him about what’s a stock, how it is traded, what risks are concerned in stock trading, how the trader can safe himself in opposition to such risks, what are the stock trading tools and how the trader can use them to his advantage.
Like every different subject of knowledge, stock trading has its own particular vocabulary with which an individual needs to be acquainted with a view to understand the stock market and the idea of trading. The website ought to clarify the stock trading jargon by means of a glossary of technical terms. There are words like ‘chickens’, ‘bulls’, ‘bears’ arbitrage, ‘quick’,’long’, ‘ stop loss,’ resistance levels’, ‘floor/bottom,’ ‘ceiling,’ demand and supply’ and so forth which must be understood.
The website of a really perfect stock brokerage agency ought to provide and explain the use of stock trading instruments like stock news, historical stock charts, real-time streaming watch lists, customizable stock screening and back testing platform and advanced technical stock charting platform. In short, the stock brokerage agency ought to enable each the newbies and the veterans to derive the maximum benefit from it. The website ought to train a rookie to be a professional stock trader. Creating a kind of simulated stock trading platform or a hypothetical portfolio that permits the novices to study the tricks of trade can do this. The web site should explain the potential pitfalls in stock trading and the way they are often avoided. It should train the customer to judiciously use the mix of stocks and ETFs to make risk free and profitable investments within the stock market. The client ought to be educated to view historical performance and historical charts.
An excellent brokerage firm should provide a platform to meet the person needs of a protracted-time period investor, the active trader or a professional trader.
The stock broker ought to provide a web-primarily based trading platform featuring a trading center with real time quotes and charts, every day, weekly or monthly scheduled investment services, streaming watch lists, free dividend investment possibilities, free ACH digital deposits and withdrawals accessible behind any firewall.
There are numerous different technical features that a new entrant to the stock market trading ought to understand and use. The website ought to provide downloadable trading application platform with options like streaming L1 quotes, customizable real time charts with technical indicators, extended-hours trading, customizable platform interface, time and sales data and so on.
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