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Before the era of online trading, traders had to call and give ‘buy’ and ‘sell’ order to their brokerage firms to trade for them. It used to be a very tedious process, and understandably caused many problems. Surprisingly, there are a few investors who still practice offline trading even today.

However, with the advent of the internet in this digital era, the vast majority of traders have moved to online trading platforms. You can also contact top stock brokers in Nigeria to know more about online trading.

You can place ‘buy’ and ‘sell’ orders, place market limits, put a stop-loss, check the status of an order, read news about companies, view the list of securities currently held through the dashboard, etc., and you also have access to all your previous investment statements. Online trading has also reduced costs for both traders and investors.

Benefits of online trading:

It eliminates the middleman: You can buy and sell without even speaking to your broker. This makes online trading alluring for someone who does not have the finances to work with full-service brokers.

It’s cheaper and faster: When a broker executes your trades, it costs you more money. On the other hand, when you trade online, a brokerage charge is levied but it is always less than what a traditional broker who has to place a trade physically, would charge you. Online trading is almost instantaneous.

It offers greater investor control: One of the most important advantages of online trading is that it gives you greater control over your investments.

You can monitor your investments in real time: Your online trading platform has a lot of advanced tools and interfaces to monitor your investing performance and to do your own research. You can see real time gains or losses whenever you log in from your phone or computer.

What Is Online Trading In Nigeria?