1. What is online Trading/Investing?
Online trading / investing provides an internet based platform through which you can invest in equities, derivatives, mutual funds and IPOs.
2. How does online trading work?
Online trading works the same way as offline trading. In the case of online trading, you yourself can place an order, instead of calling up your broker's dealing room.
3. Can I trade offline if I have an online trading account?
Yes, you can trade offline as well as online if you opt for an online trading account.
4. If I want to invest online, what are the trading options that Emkay offers?
At Emkay, you can choose from two modes of trading, viz. Emtrade Web and Emtrade XL. Emtrade Web is a browser based service which can be accessed from anywhere. Emtrade XL is an application which needs to be installed on your PC. The Emtrade XL software comes with additional features like real time rates, instant intra-day and historical charts etc.
5. How safe is online trading?
Online trading is quite safe if it is used properly. The basic precautions for safe online trading include ensuring that you maintain secrecy regarding your user id and password. Also you should avoid accessing your online trading account from a public computer, like for instance in an internet café.
6. Can I trade if I don't have money in the pool account? Can I use the equity holdings in my demat account as margin against my trades?
Yes. You are allotted a limit for trading against the shares in your demat account. Once your order is executed, you have to transfer the requisite amount to the pool account. You can buy shares worth the latest value of the holding in the DP with Emkay but this limit may vary depending upon the haircut limit applied on the total holdings.
7. Do I need a demat account to trade online?
No. If you do not have a demat account you can open an online trading account which comes with a built in demat account.
8. My bank does not provide online banking. Can I trade online in this case?
In case your bank does not support online funds transfer, transaction can be done with the help of a cheque. Secondly, you can open a new bank account for online transactions, with any of the following banks viz. HDFC Bank, ICICI Bank, Axis Bank, Bank of India, Yes Bank, Corporation Bank, Oriental Bank of Commerce, South Indian Bank, Bank of Rajasthan, Vijaya Bank, Federal Bank, Karnataka Bank and Allahabad Bank. We have a tie up with these banks for direct funds transfer facility.
9. Can I trade online if I don't have access to my PC?
In the case of an Emtrade Web account, you can trade from any part of the world. But in the case of an Emtrade XL account, you can trade only from a computer on which the application is installed.