With gradual decrease in interest rates in fixed deposits and other investment schemes, the stock market has seen an inflow of new investors. Youngsters today have started showing tremendous interest in the market, and have started heavily investing in equity markets. But, one needs to remember that investing in stock market requires careful attention, patience, knowledge and regular due diligence. For new traders in the market, here’re are the steps that you need to follow before you start investing.
Step 1: Demat Account
Before you start trading, you need to open a demat account. You need a PAN card, Adhaar Card, address proof, passport size photographs and a cancelled cheque of the bank you want to link.
Step 2: Brokerage Firm
Choose your brokerage firm or stock broker who will facilitate all your trading. You can also open your Demat Account with them. Once you create an account with your brokerage firm, they will provide login details to a robust online platform to conduct all your trading. Remember, there are charges involved in trading. Some of them are Account opening charges, Brokerage charges, Securities/Commodities transaction tax, Transaction/Turnover Charges, Stamp charges, SEBI Charges, DP (Depository participant) charges.
Step 3: Understand the market
You need to understand the market, go through company annual reports and financials to decide which stocks you want to buy. Take baby steps in the beginning and get accustomed with the entire trading process. Follow advises of expert and seek professional help whenever you need.
At Proficient, we provide you a one stop solution for all your investment needs. With our wide range of products, and dedicated support, you get the best hand holding in investing in the stock market. Our robust trading platform is one of the best in the industry and we have tailored strategies to meet your every requirment.
