Do you wonder, how does online trading work in India?
Well, you are not alone.
A lot of people looking to make money online in India ask the same question.
Online trading in India involves buying and selling financial instruments through a platform. For this to happen, you need to have an account on the platform (broker) and have deposited some funds to facilitate the trades.
In this article, I will discuss everything you need to get started trading online in India.
And by the way, I will be using examples from Olymp Trade.
How does online trading work in India
#1. Pick a platform
As mentioned, online trading in India requires you to have a trading account on a platform.
It is here you will be able to place your trades, read charts, and monitor your funds.
Now, what is the best trading platform in India?
I have written a guide on the same, go and read to find the best online trading platforms in India.
In a nutshell, these are two sites I believe are the best;
Olymp Trade in India
To use Olymp Trade, you need to first open an account.
Inside, you will find everything you need to start a successful trading career and make money online in India.
Here is a guide on how to open an Olymp Trade account.
IQ Option in India
IQ Option is one of the best brokers you can trust in India.
Their business is legal, although not regulated by the authorities, you can still trade and make withdrawals successfully on IQ Option.
One of the things I love about them is the fact that you can start trading with just $10!
#2. Use the Demo Account
Both Olymp Trade and IQ Option come with a demo account, which is free to use by the way.
Why a demo account?
Well, if you have been reading my site, I always emphasize that you first learn the ropes of online trading before actually committing real money to it.
See, online trading is not easy.
A demo account comes with free virtual funds ($10K on Olymp Trade and IQ Option).
With these funds, you can practice on the real market without actually risking your capital.
And no, you cannot withdraw funds from your demo account. They are just there for practicing purposes.
#3. Deposit funds
If you want to make real money, you need to deposit funds into your trading account.
In fact, Olymp Trade and IQ Option have made it so easy for you to start trading in India.
All you need to do is deposit a minimum of $10 (₹730.19)
#4. Placing trades
After opening a trading account in India, practicing on the demo account, and then making a deposit, the next step is to make real money.
To do that, all you have to do is follow the strategies and trading techniques you learned during your practice period.
See, it is easier to lose money while trading, that is why every trading platform in India is advising you to be careful.
It is addictive and without discipline, you aren’t going anywhere.
Now, to place trades on Olymp Trade, you first have to understand the kinds of trades available on the platform.
There is the FTT trading.
Fixed Time Trade on Olymp Trade is a form of Fixed Time Trading. This type of deal is simple and profitable. To earn, you must correctly choose which direction the price of an asset will go.
You may be asking yourself, then how does online trading work in India?
It is called Fixed Time because to make money, you have to correctly predict the direction the price will be after a certain fixed time.
You can predict the price of Bitcoin will go up after 2 minutes.
#5. Withdrawing Funds
How does online trading work in India?
After you have turned profits, what do you do?
Well, some people opt to re-invest their earnings for more profits, which is a good thing.
Others may decide to withdraw their earnings and enjoy themselves or invest somewhere else.
Either way, Olymp Trade, and IQ Option make it so easy to make a withdrawal.
Just remember, withdrawals are processed by the same payment systems
used to deposit money into the system on Olymp Trade.
This means that if you used PayPal to deposit funds into your trading account, you will use PayPal to request a withdrawal.
Just remember to leave something for your next trade when you make a withdrawal.
What to do next to make money trading online in India
Still, wondering how does online trading work in India?
I hope I have shared enough to make it easier for you to start working online.
Are you excited to make money trading online in India?
Go ahead and get started with these two trading platforms.