InvestorQ : I am not yet an online trader but still continue offline trading. Should I really insist with my broker on an online trading engine?
vaishnavi mhatre made post

I am not yet an online trader but still continue offline trading. Should I really insist with my broker on an online trading engine?

Answer
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2 years ago
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Even if you are an offline trader, you must look to familiarize with the online trading platforms. Online trading is not only convenient and simple but it is a lot more transparent and economical too. Intraday or short term trading is the direction that traders and investors are moving towards and hence a robust trading engine is a must. Ensure that the user interface (UI) is smart enough and yet simple enough to meet your needs. Your broking platform must also offer seamless connectivity with demat and the payment gateway. You cannot be at the mercy of follow ups and DIS slips. Ensure that your online engine gives you transparent and quick execution and you must benchmark that with the market median performance.

In fact, if when you are looking at online trading, there is one more aspect you must look at and that is redundancy. It refers to a call-n-trade back up that can help you in case the system goes down. Machines are machines after all, so even with the best of technology investments, machines can go awfully wrong. You don’t want to log into your trading terminal at 3 pm and realize that orders are not going through. Ensure that your broker is offering you a back up. Ideally most brokers offer a backup call-n-trade facility wherein you can authenticate yourself and then place orders over the phone. This is a must when you are essentially an online trader and operating either on the PC or the mobile app.
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