Online trading in stocks and shares has opened up a whole new world of business opportunities both for the common investor and the stockbroker. Since on-line trading or brokerage don’t require huge investments in terms of man power and office paraphernalia, quite a few brokerage corporations have mushroomed all over the world. All that a stockbroker must start his brokerage agency is a license, which might be obtained by passing licensing examinations, a pc, and an Internet connection. The question arises whether it is best to open a trading account with any of the brokerage firms you come across on the Internet. Would it not be like stepping 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 money and your financial future in the custody of a stock broker, you will need to discover out what qualities should your broker have besides the official trading license and a website.
The first important function of a perfect stock brokerage agency needs to be its website. The website must be easy, professional and informative. It should provide details about how the brokerage firm delivers more by way of customer providers and benefits.
The website ought to devote sufficient space to educating the customers, both the novices and the experienced, about the whole process of making cash by trading in stocks and shares. The education section of the website ought to start with essentially 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 involved in stock trading, how the trader can secure himself in opposition to such risks, what are the stock trading instruments and how the trader can use them to his advantage.
Like each other field of knowledge, stock trading has its own special vocabulary with which a person must be acquainted with the intention to understand the stock market and the concept of trading. The website ought to clarify the stock trading jargon by a glossary of technical terms. There are words like ‘chickens’, ‘bulls’, ‘bears’ arbitrage, ‘quick’,’long’, ‘ stop loss,’ resistance levels’, ‘floor/bottom,’ ‘ceiling,’ demand and provide’ and so forth which must be understood.
The website of a really perfect stock brokerage firm ought to provide and clarify 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. Briefly, the stock brokerage firm ought to 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 be taught the tricks of trade can do this. The web site should clarify the possible pitfalls in stock trading and how they are often avoided. It ought to train the client to judiciously use the combination of stocks and ETFs to make risk free and profitable investments in the stock market. The client should be educated to view historical performance and historical charts.
A great brokerage firm ought to provide a platform to fulfill the person needs of a long-term investor, the active trader or a professional trader.
The stock broker ought to provide a web-based trading platform featuring a trading heart with real time quotes and charts, daily, weekly or month-to-month scheduled funding services, streaming watch lists, free dividend funding possibilities, free ACH digital 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 ought to provide downloadable trading application platform with options 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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