| The advent of the internet gave greater opportunity | | | | Statements and transactions should be instantly |
| for stock trading. Traders could trade stock at their | | | | viewed online to help traders mitigate losses if any. |
| PCs in their own home and trade stock globally all | | | | Many brokers have demo trade facilities. Traders can |
| through the day and night. Traders from rural areas | | | | check them out before signing up to see if the |
| can not only trade stock online but get real time | | | | trading style is suitable to their unique needs. Traders |
| news and stock quotes instantly on the internet. | | | | must shop among brokers to find the most |
| Comparing online discount brokers is helpful and | | | | affordable broker who offers a spectrum of facilities |
| suggested. | | | | and tools for easy trading. Brokers should also help |
| The first step before setting up a stock trading | | | | traders by doing the required research about the |
| account is to get all the equipment required for | | | | stock, arrange bank deposits and withdrawals and |
| effective stock trading. A good computer and large | | | | give advice on tax implications to traders. |
| size monitor or three monitors will do the job for a | | | | Once a good trading platform and broker is chosen, |
| beginner. Good trading software will help easy trading | | | | traders can sign up. A form will be presented on the |
| once the account is set up. A high speed internet | | | | website. Traders will need to enter their personal |
| broadband connection is required to get instant stock | | | | details like their name, address and telephone number. |
| quotes, to communicate instantly with the | | | | Generally potential traders need to be adults. If |
| stockbroker and to make quick decisions based on | | | | children are attempting to trade, the parent or |
| the inflow of stock information. A good UPS will | | | | guardian should act as custodian. The potential trader |
| ensure constant power supply. | | | | will need a bank account where profits can be |
| The second step is to find a reliable trading platform. | | | | deposited or payments for stock purchases can be |
| Online reviews, articles in the newspaper, the past | | | | withdrawn. A minimum balance may be stipulated by |
| experience of friends and relatives and the Better | | | | the broker. |
| Business Bureau are good resources to find the | | | | For security purposes a password and a password |
| background of broker firms. The Federal Trade | | | | question will be required. In these days when there is |
| Commission has a list of violations by broker firms on | | | | an imminent danger of an identity thief misusing the |
| their website. FINRA the Financial Industry Regulatory | | | | identity of the trader, maximum safety is required. |
| Authority has a Broker Check tool on their website | | | | The broker's website may require entry of a security |
| to help potential traders evaluate brokers. | | | | code before traders log in on the website. |
| Before setting up the account the trader should test | | | | Setting up an online trading account is simple and user |
| the support provided, and the customer service of | | | | friendly. Signing up with the right broker is the hard |
| the broker by asking questions to the broker. The | | | | part. Read financial blogs for more information and |
| trader should check if the portfolio of the broker has | | | | tips. |
| all the trade groups that the trader is interested in. | | | | |