Published on: August 10, 2023
We live in the digital age, where everything is just a few clicks away. This is no different for trading. Today, traders actively use web trading platforms to ease their trading experience. With the advent of technology, there is an increased interest in the Indian financial market. This is evident from a recent report that claimed that the total number of Demat accounts in India reached 108 million as an additional 2.1 million Demat accounts were added in December 2022.
For any trader, whether a novice or professional, finding an efficient trading platform is a hassle. With so many options out there, it can be confusing and overwhelming to find the platform that’s right for you. In this blog, we will discuss how you can choose the ideal web trading terminal best suited for your requirements.
For any trader, whether a novice or professional, finding an efficient trading platform is a hassle. With so many options out there, it can be confusing and overwhelming to find the platform that’s right for you. In this blog, we will discuss how you can choose the ideal web trading terminal best suited for your requirements.
How to choose the right web trading platform?
No two traders are the same nor are their trading requirements. Where some would require the best trading platform that eases their long-term trading journey, others would look for tools that provide accurate insights in intraday. Depending on your trading habits, your choice of web trading platforms will also differ. What works for one trader might not for another. It’s important to make an informed decision based on logic and keeping your requirements in mind.
Here are a few factors you should consider when choosing the right web trading platform for yourself.
Security is primary
When trading, you will be required to share your personal and financial information with the platform. If the platform suffers a breach, your data might be at risk. It’s thus important to take security measures in order to ensure your data safety.
Primarily, ensure that your broker is registered with SEBI and the web trading platform they provide is encrypted to ensure data safety. Understand which algorithms and security procedures are used to keep your personal and financial information safe. To see if the platform is trusted or liked by its current users, take a look at its reviews before you sign up.
Smart trading Tools
Trading tools are a prerequisite for making profit in the rapidly changing stock market. They use algorithms to monitor market movement across decades and analyze the market to provide accurate predictions and insights. Look for a charting platform that offers thorough analysis with ease of trading.
Look for a web trading terminal like Zone that allows you to perform extensive technical analysis, easing your trading experience. These tools identify trends, helping you better understand the market and make smarter decisions.
User interface and Accessibility
Whether you are a professional trader or a novice, an easy-to-use web trading terminal is crucial for you. Opt for a platform that offers user-friendly interface, high page load speed, and extensive trading options.
Mobile accessibility is also important, given the prevalence of smartphones as the primary source of communication today. A mobile friendly terminal would simplify stock management and save time as you trade on the go.
Fees
When you use a trader terminal, you have to pay for your account maintenance and the fees vary vastly across various platforms. Where some platforms charge a flat fee, others charge a percentage of the trade value. The brokerage varies with the trading platforms. Compare various options and choose the one that best suits your budget and requirements.
If you open a Demat account with Definedge Securities, you get free access to most of their trading products and the price you pay for the products you buy is balanced against your brokerage, making them effectively free. It’s important to choose a budget-friendly terminal as what you pay influences your overall returns.
Zone – Your Ideal Web Trading Platform
Zone Web by Definedge Securities is an exceptional web trading terminal that offers a wide range of charting tools and features. You can view real-time charts like bar, candlestick, Renko, line-break, Kagi, Heikin-ashi, Ratio, Relative Strength & multi-leg charts and use unlimited tools and indicators provided under Zone. You can also use the Zone mobile app to analyze stocks and trade while on the go.
Zone is available for free for Definedge Securities Demat account holders. You can also buy a subscription to RZone, the PRO version of the tool with additional benefits.
If you have any comments or queries, feel free to reach out to us at [email protected].
