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Trading Account- introduction and trading account types that benefit the traders
A trading account is an account used by investors. It is purely secured and has the availability of cash and other types of holding. It is a main and primary account for a trader and is regulated according to the selling, buying and exchanging done by traders in a single session. The assets that are held in these accounts are kept separate from this account to avoid any kind of error or discrepancy.
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Trading accounts types
1. Equity demat account
These are electronic accounts. No any kind of physical transaction occurs when this type of account is used. The currency is directly transferred from one account to other electronically.
2. Equity and derivatives trading accounts
In the working of this account a stock broker is needed. It involves two ways of trading. First is offline mode where the trader calls the broker to tell him his bid like selling, buying etc. Second is the online mode where trading software is used to make a trade transaction. Also, the currency must be first deposited in the account.
3. Commodity demat account
In this system of account the commodity is used for trading processes. A commodity is delivered or gets transferred first, then other trade process occurs.
4. Discount broking account
In this account a huge discount is available to the trader on huge transactions. They do not provide any other perks. This is the reason of their low cost.
5. Full service trading account
They are the accounts which not only provide trading options, but also advice the trader, whenever he or she feels stuck somewhere. Also the trader is provided with a research report for a good analysis of good or bad trading.
At the end, we can say that a trader must be ensured of his or her priorities and needs and then choose trading account types according to that.
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