Wanna Buy Shares online?
Okay! Now you want to buy Shares online and wants to become a Multi-millionaire by just sitting at home.
Well! That’s great. You can buy shares online and for sure you can be a Millionaire, just by sitting at home. But always keep in mind that buying shares is easy but buying shares of right firm is the most important thing. Because a buying the shares of the right firm can be beneficial for sure but it’s always not beneficial because share market fluctuates very much the prices can go from millions to thousands in just seconds.
Overall, we can say that it has it’s pros and cons at the same time.
So, always stay alert and keep an eye on the share market 24*7.
Now, let’s check out how we can buy shares online.
Earlier in the 80’s and 90’s, people used to call their broker to purchase Shares, and they would have to pay a massive percentage on the commission of broker. Also, the broker would serve the shares on such a platter that it always looked a great deal.
But all this was done so that the broker could get more commission. Most brokers that time were hungry for commission. A transparent broker would most of the times sell penny stocks at high prices, and then people would lose their hard earned money just for the commission and greed of the broker. All this made investing and purchasing shares gambling. People would fall into the trap of brokers and would gamble on stocks.
Fast-forward to the year 2019
Now, we don’t have to fall in the trap of enormous commission. We have our smartphones. We don’t have to gamble on stocks. Before purchasing any number of shares of a company, we should be doing proper research. In more critical words, we should be doing fundamental analysis to that company we are going to invest.
Because that is important, we can’t just invest our money in some company on someone else’s opinion. We have to keep a check on the previous graph of the company’s growth rate and only then we should think of investing our money in the shares of a company.
Because in the end, all we want is that we can earn some profit out of it.
So, now if you have all the prior knowledge of investing in the share market. Then you need to know how to read the financial statements of the company. Also, you should have a proper understanding of the vision of the company.
But if you are thinking of buying shares online and you just can’t finalize that from where you should buy the shares then we can provide you the solution.
Below, there is a list some of the personally used applications which will help you in investing in the right firm and will surely help you with buying shares online.
But, if you don’t have prior knowledge of doing a fundamental analysis of a company, I request you not to gamble in the share market.
Investing is an art; it needs your attention along with your money.
In India, we have many famous investors like Mr.Rakesh Jhunjhunwala. The investors call him Warren Buffett of India. He is a prominent investor and always talks about genuine ways to invest and not to do gambling.
You can invest either through your bank where you may need to pay some account opening charge and some brokerage.
On the other hand, you can also buy the share through some trusted online platforms.
We need some documents before buying shares online.
Proof of Identity(POI):
You may need to submit a document as your proof of identity. Any of the following documents can be considered as proof of identity(POI)
- PAN card
- Voter ID card
- Driving license
- Any of the government-issued identity card
Proof of Permanent and Correspondence Address (POA):
If your permanent and correspondence addresses are the same, then you need to submit only one of the following governments issued documents
- Voter ID card
- Driving license
- Bank statement or bank passbook
- Electricity bill, gas bill, or water supply bills.
- Citizenship Document
Proof of Income(POI):
For trading in the F&O segments requires you to have to submit documents for income verification. The document can be used at POI are
- Income Tax Return (ITR) document copy.
- Annual income audited copy
- last six months of bank statements.
- Certificate of Net Worth
Corresponding bank accounts proof:
To verify that the bank account is valid and in working condition. You can submit any one of the 2 documents from the documents listed below:
- You can submit a cancelled cheque of the bank you wish to link with you trading account. And just make sure that it has you name printed on it.
- Bank passbook of the respective bank along with the IFSC Code.
Below is a list of websites where you can Buy Shares Online:
1. UpStox (www.upstox.com) :
Upstox, an online discount brokerage firm founded by Ratan Tata, Kalaari Capital, and GVK Davix. It says that its strong technology-heavy model to provide brokerage services at the lowest cost has taken the company to profitability.
Currently, Upstocks is allowing to open a free account with them.
You can use this link to signup and code REF300to get some amount instantly in your newly opened account.
- Every process is online. So you don’t have to go table to table to get your form signed.
- Quick and simple process.
- Brokerage fee is minimal.
- Backed by Ratan Tata. So, no chance of frauds.
- They also have a dedicated program that will teach you how to be a good investor.
20Rs. or around $5-$10 per trade order.
Priority: Upto 25x leverage on Intraday, Futures & Options.
You can use their brokerage calculator by clicking here.
2. Zerodha (www.zerodha.com) :
Its a Bangalore based fixed fee is investing company.Opening your account with them will cost you around Rs. 300-500 or $7 to $10 for equity & Rs. 200 or $5 for commodity.
So total is Rs. 500 Or around $20 And Rs. 300 and $7 for annual account maintenance charge.
- Fixed Fee.
- Super quick and easy process
- Meager brokerage fee.
- They have dedicated interactive app called Varsity, which provides easy to adopt UI.
- They also have a Q&A forum. So, all your questions will be answered.
- Absolutely free equity delivery investments (NSE, BSE)
- Around 0.01% per executed order on intraday trades across equity, currency, and commodity trades across NSE, BSE, and MCX.
Rule #1: Don’t lose money.Warren Buffett
Rule #2: Don’t forget Rule #1.