Online trading in stocks and shares has opened up a complete new world of enterprise opportunities both for the frequent investor and the stockbroker. Since on-line trading or brokerage do not require huge investments when it comes to man energy and office paraphernalia, quite a few brokerage firms have mushroomed all around the world. All that a stockbroker needs to start his brokerage firm is a license, which may be obtained by passing licensing examinations, a computer, and an Internet connection. The query arises whether you need to open a trading account with any of the brokerage companies you come throughout on the Internet. Would it not be like entering into the clinic of a health care provider who has obtained a medical degree and pitched a nameplate on the gate?
Since you might be entrusting your hard earned money and your financial future within the custody of a stock broker, you must find out what qualities should your broker have besides the official trading license and a website.
The first important feature of a really perfect stock brokerage agency should be its website. The website ought to be simple, professional and informative. It ought to provide particulars about how the brokerage firm delivers more when it comes to buyer providers and benefits.
The website should dedicate sufficient space to educating the purchasers, both the novices and the experienced, about the whole process of making money through trading in stocks and shares. The schooling part of the website should start with probably the most elementary data required for an absolute beginner. It ought to enlighten him about what’s a stock, how it is traded, what risks are involved 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 other field of knowledge, stock trading has its own special vocabulary with which a person must be familiar with a purpose to understand the stock market and the concept of trading. The website should clarify the stock trading jargon through a glossary of technical terms. There are words like ‘chickens’, ‘bulls’, ‘bears’ arbitrage, ‘short’,’lengthy’, ‘ stop loss,’ resistance ranges’, ‘floor/bottom,’ ‘ceiling,’ demand and supply’ and so forth which must be understood.
The website of a really perfect stock brokerage firm should provide and explain the use 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 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. Making a kind of simulated stock trading platform or a hypothetical portfolio that enables the novices to learn the tricks of trade can do this. The web site ought to explain the possible pitfalls in stock trading and how 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 in the stock market. The customer must be educated to view historical performance and historical charts.
A perfect brokerage firm should provide a platform to meet the individual wants of a protracted-term investor, the active trader or a professional trader.
The stock broker ought to provide a web-based trading platform that includes a trading center with real time quotes and charts, every day, weekly or month-to-month scheduled investment companies, streaming watch lists, free dividend funding possibilities, free ACH electronic deposits and withdrawals accessible behind any firewall.
There are quite a few 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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