How Do I Open A Live Trading Account?

How Do I Open A Live Trading Account?

 It goes without saying that doing stocks means buying and selling stocks, that is, investing. However, there are many people who are thinking of starting stocks but do not know what to begin with. In order to invest in stocks, it is first necessary to open a dedicated open forex trading account at a securities company. However, there are many securities companies, and many people may not know which securities company to open an account with.

Therefore, this time, I will focus on how to select a securities company from how to open a live forex trading account. At that time, you will need "Identity Verification Documents" and "My Number Notification", so be sure to have them handy. These documents may be uploaded as images or sent by e-mail, so there is no need for troublesome mailing procedures.

 

After confirming the information and identity, information such as ID and a temporary password will be sent by mail. This completes the live forex trading account opening. You can make a transaction by depositing money in your account.

 

How to choose a live forex trading account

Next, let's compare the differences between securities companies, and which company should be selected from among the many securities companies to open an account.

 

Comprehensive securities or online securities

There is a general securities company classification with a physical store or an online securities company. The big difference is in the support system and fees.

 

In the case of general securities

In the case of a store-type general securities company such as Nomura Securities or Daiwa Securities, you can consult with a so-called securities man about investment. They may also give you advice on the best investment method for your funds and explain the market situation.

 

However, there are cases where transaction fees are set high, or securities firms recommend products that they want to sell. Of course, what you invest in is at your own risk, so it's a good idea to use it as a reference. Even if the fee is high, we recommend the physical store type if you want to start stocking while consulting with someone.

 

In the case of online securities

On the other hand, a securities company called an online securities company basically does not have a physical store. Although it is not possible to consult, the transaction fee is cheaper than that of a physical store-type securities company, and the fee is free depending on the transaction amount.

 

In addition, some online securities companies, such as SBI SECURITIES and Matsui Securities, are able to provide consultation and compete with the same service content as the actual store type.

 

In recent years, an increasing number of people have opened live forex trading accounts at online securities companies that can trade on the Internet. According to a survey conducted by 500 securities account holders in April 2021, 9% of the respondents answered that the main transaction methods with securities companies were "over-the-counter securities companies" and "telephones". 87% of the respondents answered "Internet transactions such as PCs and smartphones". 

 

What is the difference between a specific live forex trading account and a general account?

First, I explained how to open an account. In fact, there are two types of securities accounts, one called a specific version and the other called a general statement. Furthermore, since you will have to choose withholding or not for a particular account, you will actually have to choose from three.

A specific account is an account created by a securities company for an annual transaction report. Furthermore, it is necessary to properly use whether or not tax withholding is required depending on how much profit is expected.

 

The profit from buying and selling shares is called capital gains. Even if you are a company employee, you need to file a tax return if your capital gains exceed 200,000 INR.

 

If you use a specific account with tax withholding, the tax will be deducted from the capital gains in advance so that the tax will be deducted from your monthly salary, so you do not need to file a tax return. However, if the capital gains are less than 200,000 INR, it is possible that a large amount of tax will be paid.

 

For small transactions only, you may consider a specific account without withholding. If the capital gains exceed 200,000 INR, you can file a tax return using the annual transaction report.

 

On the other hand, a general open forex trade account is an account that requires you to create such an annual transaction report yourself. You need to manage your profit and loss and file a tax return.

 

Why you should have multiple accounts if you want to invest in stocks

Of course, you can trade stocks if you have one account. However, many stock investors have multiple accounts. There is a reason for that. There are differences in services for each securities company.

 

For example, some securities companies can take online seminars just by having an account or providing analysis tools. In other words, you can get these benefits by opening multiple accounts.

 

Which account to set up as the primary account depends on the frequency of transactions, but one option is to open an account for transactions and an account that provides such free services and information? With the spread of the Internet, stock investment has become a familiar presence for anyone. Anyone can easily open an account, so why not open an account for stock investment first if you are interested.

 

Having an account will give you a sense of investment, and you may be able to see daily news from a different perspective.