As we have outlined in the previous article, online trading is the natural successor of traditional trading in our technologically advanced world. As for practically all aspects of our daily life, technological advancement has not only made online trading readily accessible to the general public but also made it much simpler.
Key differences between traditional and online trading from a traders point of view.
|Traditional Trading||Online Trading|
|Place order||Can take several minutes – Via stockbroker||Instantly – via trader|
|Accessibility||Limited||Anyone with an internet connection|
|Level of knowledge required||Expert||Beginner|
|Cost (Fees/commissions)||Very high||Low (depending on online brokers)|
|Assistance||Personal relationship with broker||No relationship with broker|