5 Things You Must Know Before Opening Your Trading Account
Opening your demat and trading account is a major milestone in your investing journey! But before moving forward, step back and arm yourself with key knowledge. Making wise choices will set you up for long-term success. Let’s look at the five essential things every trader must know before opening their account. Learn The Inside Out Of Account Types Cash, margin, and 3-in-1 accounts have distinct features and tradeoffs. Cash accounts only allow trading using your existing capital, limiting risk but potential returns, too. Margin accounts provide you access to broker-borrowed funds, enabling greater leverage and risk in F&O markets. 3-in-1 accounts integrate savings, demat, and trading accounts for convenience. You should choose wisely based on your capital, risk tolerance, and goals. Compare Your Brokerage Don’t just choose the first brokerage you come across! Compare account minimums, brokerage and transaction fees, trading platforms, research and analytical capabilities, product range, customer service…