The stock trading is a vast field. Nowadays it is fully automated,and in case one wants to go for online trading on his own also, it is very much possible for him. However, for every client, it is not possible to have online trading and hence the traditional option of a terminal operator is also available to the modern day traders.
However, the online account is more comfortable and convenient for trading, the profile of every trader does not allow the use of the same,and hence one needs togo for any of the accounts as per own choice and preference.
For every trader, there are different situations,andaccordingly, he should choose any of the account options such as an online account or offline one.
The broking companies, as well as stockbrokers, offer both of these types of accounts. The choice of account is determinedon the basis of one’s knowledge of the use of the software or application, availability of resources such as computer and internet connections, and his profile.
Online account: This type of trading account is much useful for a trader who has a large volume of daily trades and availability of computer as well as internet connection. The trader must be free or have sufficient time for trading as and when the market is on. He must know how to execute the orders as well as the application of stop loss and profit booking limits so that right decision can be taken and implemented to have the desired outcome. The trader must know how to carry out the trading in the live market and see what all orders are executed and which are rejected.
He also needs to know how to check the present pending order and credit or debit balance in the account. In the case of payout also he needs to know how to generate the request and ask for the payout. Hence it is an account for those who know how to operate it or have someone who can handle it.
Here the trader does not need to do anything than just instructing which shares are to be bought and which are to be sold. There is a terminal operator who carries out the orders as per the instructions of the client. He knows how to use the software and place the order as well as limits. For such facility, one needs to get the account with the best stock broker who has such infrastructure, manpower,and technology.
He must have a membership of both the exchanges so that the client can trade in any scrip listed on any of the exchanges. Those traders who are interested in trading but not having spare time during market hours, the offline trading is the best option as they can call and trade. The operator also informs them in case of any movement in their orders.
In short, one can say that the trading account is primarily focused on the profile of the trader and hence one needs to choose the same carefully.