Need online trading platform recommendations

highflier82 · #1 10th September 2008, 07:40 PM

Hello fellow Traderjis,

Thus far I have made a few investments here and there, but have restricted myself to risk-free instruments. Now, I am contemplating investing in an index fund, and managing it by means of an online trading platform. I do not intend to be a day trader, but expect to trade slightly more frequently than a typical 'buy and hold' trader. I am looking for a platform that

1) is reliable (i.e. has little or no downtime),
2) makes all important information regarding my account easily accessible and has it presented in an intuitive format, and
3) is relatively inexpensive in terms of the total trading cost.

In addition to the above, if the platform constantly provides any news updates that could impact the SENSEX, it'd be a plus. Based on these criteria, could you'll make me a few recommendations? If you're not sure of the current trading costs associated with the different platforms, that's fine; I'll call the companies and check.

Thanks!

Varun

vasa1 · #2 12th September 2008, 09:20 PM

From what you've posted, it doesn't seem you need an on-line platform in the conventional sense. That you don't need to open an account with a brokerage house.

You could simply invest in any mutual fund that allows you to buy and sell over the internet.

HDFC, PruICICI, Birla Sun Life ... all have facility for on-line buying and selling of their respective mutual fund units.

rohangawale · #3 12th September 2008, 10:30 PM

there are already many threads on this topic,
you can go to earlier threads which can solve ur purpose

Quote:

Originally Posted by highflier82

Hello fellow Traderjis,

Thus far I have made a few investments here and there, but have restricted myself to risk-free instruments. Now, I am contemplating investing in an index fund, and managing it by means of an online trading platform. I do not intend to be a day trader, but expect to trade slightly more frequently than a typical 'buy and hold' trader. I am looking for a platform that

1) is reliable (i.e. has little or no downtime),
2) makes all important information regarding my account easily accessible and has it presented in an intuitive format, and
3) is relatively inexpensive in terms of the total trading cost.

In addition to the above, if the platform constantly provides any news updates that could impact the SENSEX, it'd be a plus. Based on these criteria, could you'll make me a few recommendations? If you're not sure of the current trading costs associated with the different platforms, that's fine; I'll call the companies and check.

Thanks!

Varun

the tape · #4 12th September 2008, 10:32 PM

Quote:

Originally Posted by highflier82

Hello fellow Traderjis,

Thus far I have made a few investments here and there, but have restricted myself to risk-free instruments. Now, I am contemplating investing in an index fund, and managing it by means of an online trading platform. I do not intend to be a day trader, but expect to trade slightly more frequently than a typical 'buy and hold' trader. I am looking for a platform that

1) is reliable (i.e. has little or no downtime),
2) makes all important information regarding my account easily accessible and has it presented in an intuitive format, and
3) is relatively inexpensive in terms of the total trading cost.

In addition to the above, if the platform constantly provides any news updates that could impact the SENSEX, it'd be a plus. Based on these criteria, could you'll make me a few recommendations? If you're not sure of the current trading costs associated with the different platforms, that's fine; I'll call the companies and check.

Thanks!

Varun

Checkout TRADE ANYWHERE available with UNICON and other brokers.

highflier82 · #5 16th September 2008, 11:29 PM

Quote:

Originally Posted by vasa1

From what you've posted, it doesn't seem you need an on-line platform in the conventional sense. That you don't need to open an account with a brokerage house.

You could simply invest in any mutual fund that allows you to buy and sell over the internet.

HDFC, PruICICI, Birla Sun Life ... all have facility for on-line buying and selling of their respective mutual fund units.

In addition to conventional buying and selling, I would also like to be able to short sell. Would I be able to do this without a broker?

Thanks!

vasa1 · #6 17th September 2008, 07:23 AM

Quote:

Originally Posted by highflier82

In addition to conventional buying and selling, I would also like to be able to short sell. Would I be able to do this without a broker?

Thanks!

No!

I'm really confused by your aims. From risk-free instruments you want to move to short-selling. Please study the subject first and don't be influenced by friends' claims of how much money they made by doing this, that, and the other.

highflier82 · #7 17th September 2008, 09:51 PM

Quote:

Originally Posted by vasa1

No!

I'm really confused by your aims. From risk-free instruments you want to move to short-selling. Please study the subject first and don't be influenced by friends' claims of how much money they made by doing this, that, and the other.

Thanks for the forewarning. I've done some research on the topic of short selling and understood that it is risky in that there is no bound on how much one can loose. I intend to take this into account and short sell only when I'm extremely confident that the market is headed down.

The Following User Says Thank You to vasa1 For This Useful Post:
highflier82 (16th September 2008)