You need to have the right broker first
It is a fact that everything in this world revolves around money. One needs to have a good income if he wants to live life well and with all comfort. There are people who are not happy with their earning from their present source of income and hence keep on hunting new avenues from where they can have some additional income. They love to go for a business which can be done with little investment and low risk. For such people, the share market can be a better option if they have knowledge of this market and trading.
In the share market share trading and that too, in the segment of intraday trading can be a feasible option where one can make money on a daily basis. The risk involved here is low, and one needs little investment. If one knows how to identify the right opportunity when to hit the trade, he can earn a good amount as the difference between purchase and sales price, which turns to be his profit.
What one needs to have?
There are a few requirements that one needs to satisfy before going to trade on invest in this market. The foremost requirement is demat and a trading account. As per the SEBI norms, only those can trade or invest, in this market, who have demat and trading account.
The Demat is an account which is opened with NSDL or CDSL to park the shares one has got. It does not matter whether one has got the shares from the open market or IPO. Another requirement is, having a service provider who is known as a broker. One needs to find the best broker in India who can offer various services to the traders. He needs to offer account opening as well as trading services, which can help the traders to have good platform trading.
The difference between brokers:
The share market is a huge platform where one can find several types of brokers. The full-service brokers are those who offer various services, including trading. They deal in advisory, consulting, research and trading as well as account opening. The discount brokers are those who deal in account opening and trading only. They focus on the clients who go for bulk trading and needs to have the services at low rates. They approach the traders who primarily deal in intraday trading so that they can have the desired amount of brokerage as their revenue. For them, the main task is bulk trading, and they don’t mind to offer the services at a low rate of brokerage, which is not possible for the full-service brokers.
While offering the service to any client, the broker in this segment ensures that the client is a bulk trader and goes through the statements of his past trading. This can help him know what the volume of the trading done by the trader is, and know what amount of brokerage he can generate from the concerned client. They also offer services for the limit to such clients.