Tuesday, July 20, 2010

Online Trading

You can execute an order with in the comfort of your room. There is no need to make phone calls to a broker for trading.

For this you need a 3 in one A/c. (Savings/Demat/Trading A/c). For example I am explaining here how I started my online trading.

I have already a Savings A/c with SBI. It is necessary to make it online. I have contacted the branch and with in minute, after the formalities, I got the password with activation time of 24 hrs.

I have contacted the SBI authorized person at one of the SBI branch nearer to me to open a Demat & Trading A/c. ( it is not necessary to open the Savings A/c. and Demat & Trading A/c. thru' the same branch)

With in one month both account created (Demat A/c (CDSL) & Trading A/c. (SBI Capsecurities))
After that I have started my online trading (It took almost one week for me to do the first transaction anyhow!)

The method is first you transfer money from your Savings A/c. and purchase shares both thru' 'Trading A/c.' (here in my case www.sbicapsec.com is my trading portal) . The share will be credited in your Demat A/c (for 'Day' trading with in 2 days (http://www.cdslindia.com)
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