Review: Smartphone, the emerging frontier in stock trading
The business of stock exchanges was originally done in mere two-and-half hours in the trading arena through open outcry system. An investor, wishing to trade, had to call his broker's office to place his order.
The broker's man would then go to the stock counter to go through the transaction, all the while jostling with a group of other sub-brokers who are also trying to trade on the counter. I remember my aunt booking a trunk call to Bombay to get in touch with her broker to know the rates and the call being connected the next day.
Back in the year 2000, when Geojit became the first broker in India to launch online trading in shares, a lot of doubts were raised as to how could people buy and sell shares which was wholly a broker-driven mechanism and whether it would be safe to give the clients the leverage to buy and sell on their own, or if there be any volumes in terms of online trades done.
Dismissing all the doubts online share trading has become an integral part of the business. This has also given rise to a lot of discount brokers who offer very low brokerage for the online service offered. But the difference here is the kind of service and customer delight that a full-fledged broker can offer cannot be matched by the others.
Today, online trading offers a lot of advantages for the investor or trader for that matter. He seldom visits or needs to visit the branch office to execute his trade. He can do it sitting in his comfort of his home or office. He need not be influenced by his peers and can be discreet with his investments.
All he needs to do is be wise in his investments and take care of his financial health. Lastly, with many benefits of online trading, buying and selling shares through online is a great way to participate in the growing economy of this nation.