Do you still have some questions unanswered about stock trading? Not everyone is fully aware of what stock trading is so if you are a new trader and are looking for further information about it, you can go through this list of frequently asked questions and get their answers.
How Much is the Initial Investment?
Before you can trade, you must make an initial investment. The amount is not fixed and usually depends on the broker you open a trading account with.
How to Sign up for a Stock Trading System?
If you want to link your trading account with an online trading app, you must first clear the cookies on your browser. This will ensure successful linking between the trading account and the app. After this, you can visit the homepage of the software you want to use and fill up the sign up form. You can choose a broker they have on their recommended list, invest into the account and start using the software to assists you during the trading process.
Why is it Necessary to Clear Cookies and Cache?
This process is important because the browser may contain junk cache and unnecessary cookies and history that may interfere when you try to link the app to your account. Traders who don’t complete this step often find issues during trading. Their trades are not placed correctly.
Is There a Best Time to Use a Stock Trading Application?
Usually, it is advisable to trade between 3PM GMT and 9PM GMT. However, you must make sure that no major financial events take place during these hours. If an event takes place and you get a news update, you must halt trading and start again after the news period.
How to Select a Broker?
Once you have completed the sign up process, you can visit the member’s area and choose a broker from their list. After you have made a selection, you can invest to your account and start trading. (Read More)
How to Change the Broker?
In case you are not happy with your broker, you can change them by following a few simple steps. You must clear your cookies and cache and enter a new email address on the homepage of the software. This way, the software will see your account as a new account and will assign you another broker. Once your broker is selected, you can invest to your account and start trading.
Can I Use the Trader with my Trading Account?
No, you cannot because each online trading system has a list of designated brokers they are compatible with. They will not work with your existing account and this is the reason you will have to choose one from their list and open an account.
Should I Accept the Bonuses Offered by the Broker?
Before you accept any bonus, you must make yourself familiar with their terms and conditions. Some brokers have very unfavourable withdrawal terms for accepting bonuses and you are required to execute a certain volume of trades before you can get your withdrawal processed. So before you accept, make sure you understand their terms and conditions.
Do the Brokers Accept Skrill and Paypal?
To find out what payment options the brokers accept, you can visit their website and get accurate information.
What Documents do I Have to Provide for Validation?
Generally, they would ask for your ID such as copy of your passport or driver’s license. They will also require copies of your bank statement or utility bill to verify your address.
See Full List of Regulated Stock Trading Brokers.
Why Does the Broker Need my Personal Documents?
Just like other financial institutions, brokers also need to keep track of your identification and your account. They have to operate in compliance with policies and this is the reason they have to make sure that you are a real person with genuine proof of identification.
What Does GMT Mean?
GMT Means Greenwich Mean Time and when it comes to global trading, it becomes necessary to use a language that everyone can understand. Not everyone comes from the same time zone so the common reference that is used in trading is GMT. There are a number of tools available online that can help you convert your local time to GMT.
Learn More About Trading Stock and Shares
There are many resources available online which can help you learn how to trade. Whether you are a beginner in the field or an expert, you can make use of online educational materials to broaden your knowledge. (Read What is Stock Trading in Details in This Article)
How do I Withdraw?
Once you have your trading app paired with your trading account, you can use one of the withdrawal options offered by the broker to make the transaction. Depending on the broker you have an account with you will be presented with a variety of options to withdraw. However, you must read their withdrawal policies first before you request a withdrawal.
What Documents You Need to Make Withdrawal?
You must verify your identity and your details before the broker can process your withdrawal. you will need to provide copies of your drivers license or your passport to validate your identity. You will also need to supply your bank statement or your utility bill to validate your address. In addition, you must complete the withdrawal request form with details of the withdrawal. (More About Withdrawal You Can Read Here)