INVESTING PROCESS MADE SIMPLER BY TECHNOLOGY
The process of investing can be a daunting experience. There are many issues while investing offline like maintaining bank and de-mat accounts manually; lack of information, tools and advice; paperwork; and hassles in keeping track of investorâ€™s portfolio. This often leads to too much dependence on someone, total inactivity and sometimes even taking incorrect decisions while planning investments.
But technology enables the investor to plan investments from the comfort of home. All one needs is a computer, a net connection and subscription to a three-in-one online investing account. Online investing eliminates all major hassles of investing: It provides a wealth of information, analysis and tools that enable the investor to take informed decisions. Thereâ€™s virtually no paperwork involved as all transaction records are online, and statements are available in the digital form. One can invest anytime and from anywhere plus get integrated operations between banks, de-mat and trading accounts and can easily track his portfolio.
To get started the investor needs to register with an integrated three-in-one online trading account. The three accounts are trading account which enables to transact online; internet-enabled bank account with any of the banks with whom the online service provider has tie-up, so that the investor can transfer money online; de-mat account, where shares will be deposited.
The following points must be considered while choosing an online investing account:
a) Check the credibility and credentials of the service provider. Look for backing of a reputed bank or financial institution.
b) Which investments can be made online? Does the service allow the investor to invest in equity shares, F&O, mutual funds and IPO online? Or is it only equity shares online and the rest offline? To derive the full power of online investing it is important for the investor to invest in all of them online.
c) The investor must ensure to get the best of information, research support and tools in an easy and reader friendly manner.
d) The investor must also check for speed of order execution and ability to receive quick order confirmations during peak hours.
e) Some service providers offer a choice of products starting from the basic account to more advanced trading platforms with live market information on equity markets.
f) Check the built-in security features.
g) One must also satisfy about the dedicated customer care cell by the service provider to resolve the investor queries and problems and whether they provide trade-over-phone facility.
h) Look for additional features provided. For instance, the ability to sell shares next day before receiving delivery, SMS alerts, intra day trading in equities and so on.