5-Step App Trading Guide For Beginners
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In today’s world, the stock market is becoming a rallying point for everyone. There are more investors flocking towards investing in stocks from all parts of the country, including the regions that remained hitherto unacquainted with this asset class. If you’re from a tier II or a tier III city, there are high chances that you might already know someone who invests in stocks. This wasn’t the case a few years ago and has only been made possible with the advent of tech-driven solutions. Going by the current trajectory, a few years down the line, it is safe to say that a fair share of the Indian population will count stocks as an integral part of their portfolio.
Today, the market is well within the reach of anyone who wishes to trade or invest. All people need is a smartphone, an Internet connection, and a bank account. If you’re also an aspiring stock market enthusiast looking to amplify your returns, you can begin your investment journey in a few minutes with these five quick and easy steps:
Find the right broker
Finding the right broker is the first step. It is also the most important one. Otherwise, you might end up paying high brokerage fees and hidden charges while also bearing the brunt of patchy servers and non-existent customer service. Since you’re new to the segment, there are chances that you might also receive no effective learning and drop out midway. To get your stock investments off the ground correctly, your broker must ideally provide you with end-to-end support along with market research and additional help with market research, investor training, webinars, podcasts, and so on. Your broker should offer you a flat fee structure that enables you to make informed decisions. Any additional support such as AI-based investment engines and third-party integrations are an added benefit.
Now, download the app
Once you have zeroed in on your broker, the next step would be to download the app. Make sure that your app is easily accessible after it gets installed on your device. Ideally, you should keep it on your first screen.
Set up your trading account
You will need to get a trading account if you want to invest or trade. Leading brokers have a quick and easy digital onboarding process that can be completed from the comfort of your home. Just keep all your documents such as PAN Card and ID Proof within reach. You will have to enter basic details such as your name, email address, and phone number. Then, you will need to scan your documents and you’re good to go. Unlike the bygone era, your account will get authenticated in a matter of minutes.
Link your trading account with your bank account
This step requires you to enter basic details such as your bank account number. It is preferable to add the primary bank account that you use. It will enable you to transfer funds quickly when you need to trade or invest.
Once you receive the confirmation message, you’re all set to trade. Now, you can pick up your smartphone anywhere, at any time and trade or invest with the click of a button. Make sure to leverage all the solutions that the platform offers and reap their benefits.
There you have it. Five simple steps that will help you begin your investment or trading journey. What are you waiting for? Give it a shot and get in on the action.