Share trading was carried online after the introduction of internet. Prior to this, it was carried through brokers who placed buy/sell orders on your behalf. Online trading account simplifies trading as compared to the one held with broker. There are several benefits of holding an online trading account Angel Eye from Angel One over the traditional trading account held with brokers.
Differences between Online and Offline Trading Accounts
With an online share trading account, the users can place their own orders. On the other hand, an offline account means that users need to avail the services of a broker to place orders. Instructions are specifically given to the brokers in an offline trade, which creates dependence on the broking agency. Such dependence is non-existent when you choose to trade through an online account.
An online stock trading account is a good option for people who have an Internet connection and track their orders from the convenience and comfort of their homes or offices. In case users are not able to access stock broking sites or do not have access to an Internet connection, placing orders on the phone with their brokers is more advisable.
Because online share trading provides users complete control over the transactions, the risk of potential frauds is eliminated. There are certain instances when the brokers execute trades on behalf of their clients without receiving permission, which can cause significant losses to the users who choose offline trading.
Expertise and Knowledge
When users opt for an online stock trading account, they may get carried away. Without doing proper research and understanding more about how the stock market works, they may buy or sell shares, which can result in huge losses. This is avoidable with offline trading because the brokers have several years of experience and knowledge, which can be beneficial for users as they receive accurate guidance through the broking service providers. Fortunately, most of the agencies that offer online trading services offer access to research reports and other technical and fundamental analyses to assist account-holders to gain a deeper understanding to make the right investment decisions.