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Opportunity to Trade and Make Money on the Market with Trading Brokers

If you need to make money, you need to have money. You have to realise that there is no such thing as free money just as you must realise the place with the highest risk is the stock market. That said, you can make money with ease if you only duplicate the moves of the top traders in the business. And, believe me, there are many traders who make money regularly on the market.

Different types of accounts

Trading is simple when you know how. The first timers find it difficult to move their feet because they are yet to become familiar with the terms and movements on the market. The first thing is to know the difference between the trading account and the demat account. One is the purse where you hold your money while the other is the market place where you buy and sell things. The purse is the demat account. It literally means Dematerialised Account.

The demat account helps you store the shares and stock you buy in a dematerialised form. This means you do no need any material papers or documents there. It is all on the internet and you can use the account with a password protect to keep your goods safe. The trading account is the market where you buy and sell the stock and share. The person who helps you do this is the stock broker. Choose from among the top 10 stock brokers in the country but compare what they offer by way of features and facilities before you choose one.

Kinds of brokers

Here you come to another fork again. You can choose between full-service brokers and discount brokers. The full-service brokers are costly while the discount brokers are cheap. The full-service brokers give you an account with all the frills whereas if you opt for the discount broker, you are on your own. This is crunch time and you must make the choice. But how does one make the choice?
The criterion for the selection is simple. The first thing you must decide is whether you are going to use the services often or you are only going to use it once in a week or a month. This refers to the kind of investment that you make. If you like to let your investment in the stock market sit for a couple of days or a week, then you are a buy-and-hold type of trader rather than a short-term trader who finishes the trade within the day, often within hours of beginning to trade.

Open a 3-in-1 account

Most of the Top 10 stock brokers are full-service brokers which means you get the entire works. You will have your own bank account along with the trading account and the demat account. You have seamless transactions between all these three. You will also get a wide range of investment products with the account. They offer advice about which stock to pick and which you must not.

The other type of broker is the discount broker. They do not offer any advice and you only have a trading account offered by the broker. This trading platform is yours to operate and he will not give any advice.