Getting the income is an opportunity that everyone loves to have. For the traders, the stock market is such a place only that offers such opportunity only. For a trader, it is a better way to earn fast money as the stock market is usually five days open in a week and there are only a few hours when it works. Hence one can just get a trading account, and a demat account opened with any broker and starts trading. One can open the Demat account with either NSDL or CDSL.
The trading in the stock market is carried out during the market hours. However, to have quick and quality trading one needs to have knowledge of the market. One also needs to monitor the price trend for the shares of various companies and see that the trades made by him make a profit only. In case of a wrong trade one may have to suffer from a huge loss also. To have quality trading one can go for the account opening with any of the best brokers in India. These brokers offer good credit limit, settlement period, low brokerage plans and also tips on the basis of which one can trade and make a profit regularly.
For effective trading, the trader can have either an online or an offline account. It is interesting to know the difference between both accounts. The offline account is one where the client is offered services of the bolt operator who keeps an eye on the market. He updates the client about the market situation and also places an order on the terminal on behalf of the client. He can also set the limit for profit booking or stop loss as per the instructions of the client.
If the client wants to have complete command on his trading, he can go for the online account. Here he can place the order in the live market and watch the changing rates. He can also set various limits and keep on modifying them as per the movement of the prices. The credit limit can also be opened by him with the risk department. However, for this one needs to have either a smartphone or a computer with the active internet connection.
To open an account, the client needs to provide his identity proof, a copy of pan card, and address proof to the brokers. He also needs to provide a canceled check and some margin money in the initial stage only. On the basis of margin money, only the credit limit is granted by the risk department. The trading account does not have any fixed charge while the demat account has a fixed charge that one needs to pay every year. In the trading account, there is brokerage only that can be in percentage of the turnover or a lump sum amount on the trade. The rate of brokerage is fixed at the time of account opening between the client and the service provider.