What is Trading Account & Simple steps required to Open Online Trading Account

A trading account can be any investment account containing securities, cash or other holdings. Most commonly trading, trading account refers to an intraday trading, Forex Trading, MCX Trading Stock Trading, Cash, Future Option Trading.

A trading account is required to buy and sell financial instruments like equity, equity derivatives, commodity derivatives, and currency derivatives. In a way, it is similar to a bank account. Here are its functions: Now you can open an Online Trading Account with a registered Stock Broker, who conducts trading on your behalf. Each trading account has a unique trading ID which is necessary to do online transactions.

There are a few simple steps required to open Trading Account

1) You need to select a stockbroker or a brokerage firm. Choose one after thorough research. You want one who will take your orders on time. In the market, even a few minutes can create profit or loss.

2) Once you have decided the firm or stockbroker you wish to go with, contact them. They will make you sign two forms – Account opening form and a Know Your Customer (KYC) form.

3) Fill these two forms with the correct details and submit it along with the required documents.

4) Your application will be verified through the phone or with someone visiting you.5) Once your documents are verified, you get your trading account details.

 What documents required for opening a Free trading account

• PAN card having a valid photograph.
  
• Aadhaar card / Voter ID card / driving license/ Passport.
  
• Bank Passbook which is not more than 3 months old.
  
• Cancel Check with Name Printed

Also Read - How to Open Free Demat Account

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