On-line trading in stocks and shares has opened up a whole new world of enterprise opportunities both for the frequent investor and the stockbroker. Since on-line trading or brokerage do not require huge investments by way of man power and office paraphernalia, numerous brokerage companies have mushroomed everywhere in the world. All that a stockbroker needs to start his brokerage agency is a license, which could be obtained by passing two licensing examinations, a pc, and an Internet connection. The question arises whether or not it is best to open a trading account with any of the brokerage companies you come across on the Internet. Would it not be like moving into the clinic of a physician who has obtained a medical degree and pitched a nameplate on the gate?
Since you are entrusting your hard earned cash and your monetary future within the custody of a stock broker, you need to find out what qualities should your broker have besides the official trading license and a website.
The primary important function of a perfect stock brokerage firm must be its website. The website ought to be easy, professional and informative. It ought to provide details about how the brokerage agency delivers more by way of customer companies and benefits.
The website ought to dedicate enough area to educating the customers, both the novices and the skilled, about the whole process of making cash by trading in stocks and shares. The training section of the website ought to start with probably the most elementary info required for an absolute beginner. It should enlighten him about what is a stock, how it is traded, what risks are concerned in stock trading, how the trader can safe himself towards such risks, what are the stock trading tools and how the trader can use them to his advantage.
Like every different area of knowledge, stock trading has its own particular vocabulary with which a person must be familiar so as to understand the stock market and the concept of trading. The website should explain the stock trading jargon by means of a glossary of technical terms. There are words like ‘chickens’, ‘bulls’, ‘bears’ arbitrage, ‘brief’,’long’, ‘ stop loss,’ resistance ranges’, ‘floor/bottom,’ ‘ceiling,’ demand and provide’ and so forth which need to be understood.
The website of an excellent stock brokerage agency ought to provide and explain the usage of stock trading tools 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 firm should enable both the newbies and the veterans to derive the utmost benefit from it. The website should 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 learn the tricks of trade can do this. The web site should explain the possible pitfalls in stock trading and how they are often avoided. It ought to train the customer to judiciously use the mix of stocks and ETFs to make risk free and profitable investments in the stock market. The customer must be educated to view historical performance and historical charts.
An excellent brokerage firm ought to provide a platform to satisfy the individual wants of a long-term investor, the active trader or a professional trader.
The stock broker ought to provide a web-based mostly trading platform that includes a trading heart with real time quotes and charts, every day, weekly or month-to-month scheduled funding providers, streaming watch lists, free dividend investment possibilities, free ACH electronic deposits and withdrawals accessible behind any firewall.
There are numerous other technical features that a new entrant to the stock market trading ought to understand and use. The website should provide downloadable trading application platform with features like streaming L1 quotes, customizable real time charts with technical indicators, prolonged-hours trading, customizable platform interface, time and sales data and so on.
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