Stock trading can be done in two ways, online trading and physical trading. Online trading is also called virtual trading and as the name itself suggests, it is done over the Internet. Physical trading, on the other hand, is the older method of the stock trading that the traders go to a concrete stock exchange like the New York Stock Exchange for the trading activities. In fact, when think of a typical physical stock exchange, the image that immediately comes to mind is about people trying to out shout each other while waving pieces of papers in their hands buying and selling stocks. Yet, even the physical process of stock trading involves the use of the computers and the Internet. Apart from being physically present at the stock exchange, the people can trade only within the stipulated hours. In computer parlance, physical trading can also be called the offline trading.
Virtual trading, or online trading, is an alternative to physical trading. The great advantage of the Internet trading is that you can trade in stocks at the comfort from your home. You do not have to restrict yourself to the working hours of the exchange to trade your shares. In other words, you can work part time as a stock trader. You can buy and sell the stocks twenty four hours a day, seven days a week.
By given the information above, the advantages of online trading are as many as the physical trading. You have the flexibility of working at your own time, your own pace and also as an addition to your other professional activity, if you prefer.
Physical trading may involve paper work such as making or receiving payments by checks besides filling forms etc. For online stock trading, you can open your account online by providing the required personal and financial information to the broker. The process is relatively simple, barely taking five minutes to do so. Just go to the account opening page of your stockbroker's website and select the type of account you want to open-you will find various options available, such as individual account, joint account and so on. Each step in the process is accompanied by clarifications and explanations of the possible doubts and ambiguities that you may encounter when you are surfing. You choose your user name, password to log into your account and check the mandatory account agreement and then make the confirmation to open the account.
Once you enter your details, you will receive an automated verification email from your broker on your email address asking you to validate and activate your account. In order to do so, you will be required to click on a link provided in your broker's email and your account will be opened and functional.
Another great advantage of trading stocks on Internet is that you can transfer funds to your account electronically from your bank account. Simply click on the 'Transfer Fund' tab under the 'Funds Transfer' menu to add it to your existing bank account. Once you provide your user id and password on the account transfer page, you will be taken to your bank account's page with your account number. You can opt for automatic funding of your account on a daily, weekly or monthly basis. If you have multiple bank accounts, you may list them with your broker and select the amount and dates of transfer according to your needs.
You can check your fund transfer history or the pending fund transfers by clicking on the relevant links. You also have the option to send your payments by checks.
Your broker's website devotes sufficient space to educate beginners, intermediate and advanced traders. Starting with the elementary topics like ' what is stock' or 'stock trading' the Education tab on the Home page of the website has opened up a whole new world of trading replete with advanced jargon of trading in stocks and shares.
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