What is Intraday Trading ?
Every beginner or expert tends to find the best platform for investing in the share market in intraday trading. Before knowing about the best Demat account for Intraday Trading, it is important to know what Intraday trading is and how it works.
Intraday trading is the process of investment in which the selling and buying of stocks are on the same day before the market closes. This is not more like an investment purpose but more of a trading purpose. The trading usually goes for the short-term investment profit, which means the single-day profit.
The changes in the shares are noticed monetarily so that any change in the market, either profit or loss, is monitor, and a person can earn profit at the right time.
It is important to specify the order to the intraday trading, or else the broker can square off the position or convert the trade into delivery trading. So one needs to specify the type of the trade, or else it will directly come under the delivery trade.
Basics of Day Trading
Intraday trading is also known as day trading by many traders. The working of the intraday trades goes like a person buying some specific stock of a company. While buying the stock, the person has to ensure that the intraday trade is mentioned on whichever platform they are trading or investing on.
This will indicate that the user is interested in trading in the same company’s stock before the market closes on the same day.
So after investing in some XYZ stock, if a person has bought a stock for rupees 500, the stock prices jump to rupees 560 in some hour. If the person has bought around 1000 stocks for the same company, it will straightway give a profit of 60,000 in just a few hours. The money can be withdrawn after selling the stock at 560.
Types of best Demat account for day trading
It is important to know about the choices of the best Demat Account before investing in the share market for intraday trading. Open Demat account is important for trading in the intraday market. This section will cover the best Demat accounts for intraday trading.
There is one option of a 2 in 1 Demat account. These accounts help you track the investments on satisfactory annual charges, and the charges are for the annual Demat account maintenance.
Parameters in Choosing the Best Demat Account for Intraday Trading
1. Discount broking Firm
It is important to see which is the best firm as it plays an important role in Intraday trading. So this is an important factor while opening a Demat account.
2. Trading Tools and Technology
This is another important factor to eye on when choosing the Demat account platform. Market updates are now and then, so it is important to look for a platform that provides the traders with improved trading tools.
3. The Brokerage Charges
It is important to look for the brokerage charges charged by a firm. Many well-known platforms charge the client with low brokerage and excellent services.
4. Seamless Trading
One of the most crucial factors before investing in the share market is to look for a platform that provides a smooth trading experience. As in Intraday Trading, it is important to buy and sell stock on time of profit and loss.
5. The segments App Deals In
It is necessary to see how many segments the company provides to trade or invest in. for example, cash market, futures and options, commodities, currencies, and many more.
List of best Demat Account For intraday trading
1. ICICI Intraday trading Demat account
ICICI Direct is one of the most popular 3 in 1 account that includes ICICI Bank Account, ICICI Trading Account, and ICICI Demat Account. The 3 in 1 account offers a smooth trading experience for its clients on board. The company also provides multiple types of brokerages plans, i.e., I-Secure Plan, ICICIdirect Prime Plan, Lifetime Prepaid Brokerage Plan, and Neo Plan. Also, the company offers a unique and wide range of products and features like one click.
2. IIFL Securities Best Demat for Intraday Trading
The company IIFL Securities started in the year 1995. They are one of the largest full-service brokers in India. IIFL Securities is the subsidiary of IIFL Grou, a leading financial service provider. It is a well-known company for its advice, personalized service, and the use of cutting-edge technology.
They have different services, such as online trading and research-based advisory services. This includes all entire range of financial products as Stocks, Derivatives, Commodities, Insurance, FDs, Loans, IPO and Bonds, etc.
They offer different schemes, such as one simple flat rate brokerage plan. The brokerage plan includes brokerage-free equity delivery trading, and the other segment acquires a flat Rs 20 per executed order.
You can also find NRI trading and investing services. Currently, they have their presence in different countries like Colombo, Dubai, New York, Mauritius, London, Singapore, and Hong Kong.
3. Trade Smart day Intraday trading Demat account
Another brokerage company based in Mumbai offers a discount brokerage in stock, commodity, and currency trading segments. TradeSmart is an active part of VNS Finance & Capital Services Ltd. the company is a traditional brokerage company incorporated in 1994.
It started to offer brokerage service to Indian Stock, Commodity & Currency market investors, and trades through franchisee and sub-brokers. The company offers its client offers to trade in NSE Cash, NSE F&O, NSE Currency derivatives, BSE Cash, MCX Commodities, and depository service of CDSL.
4. SBI Intraday trading Demat account
Another well-known discount broking form named SBI Demat Account is a key offering by the bank. SBI offers Demat account-related services through SBICap Securities Ltd (SBICap or SBICapSec). The company started in 2006, providing all the broking, investment, and loan products. It offers services to every individual and also an institutional customer.
Also, the company is a SEBI registered depository participant DP with CDSL and NSDL. SBICAP’s product portfolio includes the company’s deals in different sections like Equity, Currency and Derivatives trading, Depository services, IPO services, Mutual Funds, Bonds, NCDs, Home, and Car Loans.
5. Upstox Best Intraday trading Demat account
Upstox is one of India’s first cost broking firms that provides trading opportunities at very reasonable prices. They offer trading services in different equities, commodities, currency, futures, options. Upstox is the one of the best demat account in India. These services are available in its Upstox Pro Web and Upstox Pro Mobile trading platforms. The company is backed by investors, including Kalaari Capital, Ratan Tata, and GVK Davix.
6. SAS Intraday trading Demat account
The company was Incorporated in 1995 started as an online discount brokerage firm offering brokerage services for stocks, future and options, currency, and commodities at NSE, BSE, and MCX exchanges.
SAS Online started offering its discount brokerage services in 2013. Talking about the current stats, the company has 30000+ clients spread across 750+ cities of India. According to the current status, the company has a daily average turnover of Rs 10,000+ Cr, contributing to over 1% of the total Indian market turnover with an average of 1 lac + orders a day.
There are no account minimums or hidden costs, which translates into lower costs and hassle-free trading. This is, in short, another best Demat Account For intraday trading.
7. Motilal Oswal intraday trading Demat account
The company was Incorporated in 1987 as Motilal Oswal Securities Ltd. (MOSL). It is a Mumbai-based company. They offer their trading services in Equity, Commodity, Currency, and Derivatives. Also, they provide services in other segments like Mutual Funds, IPOs, Gold, Insurance, and Fixed Income products. MOSL is widely recognise for its MOAMC discretionary Portfolio Management Service (PMS).
Talking about the client base, the company has a diversified client base that includes retail customers, mutual funds, foreign institutional investors, financial institutions, and corporate clients.
Motilal Oswal had a network spread over 500+ cities and towns comprising 2,200+ Business Locations operated by the company and its Business Partners. Talking about the current stats, 10,00,000 registered customers with over Rs 69,500 Crores in depository assets.
8. HDFC intraday trading Demat account
Another well-known company is HDFC Securities(HDFCsec), the Equity Trading Company of HDFC Bank. The company provides both platforms online and offline for trading.
The company also offers a unique 3-in-1 account feature that integrates your HDFC Securities trading account with your existing HDFC bank savings account and existing Demat account. This way, the person can seamlessly invest in the share market.
The company also offers different stock trading account and Demat account services. The users have to pay the fees, commission, and taxes while trading with HDFC Securities.
Guest Writer Bio: Vikas sharma works as a SEO Executive for kundkund trading and consultancy, that i.e the best sub broker in India.
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