High speed internet within easy reach of many people in India has led to the growth of a new class of people who are becoming increasingly well-read online. They are easily able to read the news, find information and be aware of all types of news – the important and the trivial. The impact internet has had on online share trading is just unimaginable. It has taken the market away from the confines of busy stock exchanges and has placed a little bit of it in every home or corner of the world where a person is able to read news and transact in shares online.
So, if you are as person who is reasonably sure of his/her research skills and has managed to find enough time to research about shares and decide which ones are good to trade in, you may not really need the expert advice of the broker. You may just need an excellent platform to trade in and receive limited advice. For you, there are online discount brokers at your service. Share brokers are those who take your trading under their wings and give you detailed advice about them and help you with every aspect of selling, buying, exchanging, splitting and doing many others activities with your shares online. These in-depth services of course mean their commission is quite high but they guarantee regular trading advice.
Are online discount brokers to be considered for you?
Ask yourself these questions:
1.
How long have you been trading in shares for? – If you spent a reasonable amount of time trading in shares already and have a broker in place from whom you have picked up trading tricks, then you may want to consider switching to a discount broker.
2.How successful have your individual trading been? – If you have made good or average profits when you were supposed to be making exactly them, and not just making do or running into losses, you can consider yourself a likely candidate for discounted brokerage services.
3.How good is your control over yourself and your trading? – As you long as you have logically concluded that you have sufficient time to do the trading research yourself, the recent trading you have done have been successful, you are not over-confident and do not go overboard with investing your money in this trade, then you can rely on a discount share broker.
When it comes to online discount brokers, they are ones who provide very limited advice to you on trading in shares but mainly carries out the transactions as per the client’s instructions. This means the amount of work they do is much, much lesser than that of regular brokers, and hence, their fees are also substantially lower. They may keep you informed about some market tips that they may have to know of recently or make some predictions about some shares, which they are very sure will see shocking movements in the near future as a guide to you. But they will not include details share trading advice in the list of their services.
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