It is simple:
It enables a trader to have a hassle free trading experience. Anyone can use these platforms as specific skill is not required to carry out trading online.
It is less expensive:
It is less expensive as compared to traditional mode of trading. Brokers also promote online trading as it reduces maintenance and other costs incurred by the broker.
Quick and less time consuming:
Trading can be done in a seamless manner and in less time. Before the advent of online technologies, trading was a cumbersome process as you had to visit the broker or call your broker for placing or cancelling trade orders. Now, you can carry out trading even through a smartphone in the simplest way.
It allows you to have complete control over your portfolio. You can place trade orders from anywhere anytime. That is the kind of flexibility you get due to online trading.
Chances of error are less:
In case of traditional offline trading, there were more chances of errors due to miscommunication between the traders and brokers. But in online trading, you can place trade orders or cancel without broker’s interference and hence can manage trade transactions by yourself.
Monitor investment at all times:
You can monitor investments anytime. There are mobile trading apps that can be downloaded in your smartphone which help you stay in touch with the markets and also monitor your investment anytime and take proper strategic moves accordingly. Loss making stocks can be removed and profit making stocks can be added to your portfolio by observing the way the market moves.
Access to research reports:
You can get access to top research recommendations, reports, analysis on stock price based on various charts. There are various brokerage websites through which you can have discussions with research experts as well. You can take the best move with the help of financial advisors too.