This article is intended to explain the beginner level commodity trading. Do you know, what actually a commodity market is? Then you are in the right place. In this article, I shall explain the commodity trading as well as how to choose commodity brokers in Chennai.
Trading refers to the buying and selling of any products. The major commodity products are gold, Silver, Copper, and Aluminum, Zinc, and Nickel, Crude oil, Lead, and Natural gas.
How to Open a Commodity Trading Account?
It is quite easy to open a commodity trading account in India. All you need is a few essential documents and passport size photo.
You can visit the Commodity brokers in Chennai to open the account or may call the brokerage company for application and they will send you the application through courier.
You have to fill in the details, attach the supporting documents and finally send them back to brokerage office. Within 24 hours your commodity trading account will be opened.
The below-listed docs are required to open the trading account:
- Bank Account/ Cancelled cheque leaf
- PAN Card
- Address Proof – Voter ID, Ration Card Driving License or passport (Any one).
- 2 Passport size photograph.
Provide the self-attested copy of all these documents in addition to the account opening form.
How to Choose a Commodity Broker?
There are a lot of commodity brokers in Chennai. Each of these brokers possesses a unique feature to attract customers. Some of them have low brokerage fee but fails in other aspects.
Being a trader you should not only focus on the brokerage fee as there are many other features to be considered. Next, check for standard professional advisory. All these aspects are equally important.
You must not blindly depend on the brokers without having any knowledge about trading. In fact, get yourself trained on the concept of trading before you make a move.
Furthermore, you can approach the Commodity Trading in Chennai, where they give you both projection and forecast the commodity conditions. The investors are trained in the commodity with technical analysis.