In the previous lesson, you must remember that we said that there are four ways to buy and sell stocks and securities on the stock exchange. The method of referring to the broker in person, buying and selling stocks by phone, the method of buying and selling stocks online and finally the method of trading online on the stock exchange. Today we want to talk about the second method, which is buying and selling stocks over the phone.
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Most of you have a laid back attitude when it comes to paying for bills, money transfers and more. Stockbrokers also provide such services to investors based on special rules and regulations set and announced by the stock exchange organization to make the investment process easier for them. One of these services is the possibility of buying and selling stocks over the phone. This means that the investor can submit his order to the broker for buying and selling stocks and other types of securities without the need to refer to the brokerage, simply by using the brokerage call center system.
To activate the possibility of submitting a telephone order through the brokerage call center, it is enough for the investor to refer to the brokerage company once and sign the relevant contract. Within one week after signing this contract, the brokerage will provide the assigned username and password to the client in a confidential manner. After receiving the username and password, the investor can call the relevant system by phone and place his orders to buy or sell securities. Note that placing an order by phone is no different from placing an order in person, and the brokerage company will follow up on orders placed through the call center just like in-person orders. Also, the brokerage call center system automatically gives the customer a tracking number so that he can be informed of the latest status of his order at any time.
To use the services of the brokerage call center, it is necessary to pay attention to the following points:
1- Activation of the possibility of buying and selling stocks by phone is free for customers, and stockbrokers do not receive any money from customers in this regard, except for buying and selling fees.
2- The customer can contact the brokerage contact center only through the telephone numbers that he announces to the brokerage in the contract and submit his orders for buying and selling shares by phone. Customer orders will not be processed if other phone numbers are called. Therefore, in case of changing the customer’s phone number, it is necessary to officially inform the relevant brokerage company.
3- The client must deposit the amount required to purchase the securities plus the relevant commission to the bank account of the brokerage and inform the relevant information to the brokerage through the contact center. Regarding the sale of securities, after depositing the amount of the sale to the customer’s bank account, which is specified in the customer’s contract, the brokerage informs the customer about the deposit information through the contact center.
4- Considering that it is possible to log in to the brokerage call center system by providing the customer’s username and password, it is very important to maintain the password and refrain from disclosing it to others.
5- If the password for using the call center services is entered incorrectly three times in a row, the call center services will be deactivated for the customer and the re-service will be conditional on the customer returning to the brokerage.
6- When signing a contract between the client and the brokerage to activate the possibility of buying and selling shares by phone, the hours of receiving the order through the brokerage contact center system are specified in the contract. Therefore, the customer must enter his purchase and sale orders in the system only during the hours specified in the contract, because otherwise the broker will not be responsible for fulfilling the relevant orders.
I would also like to add that using brokerage call centers to buy and sell stocks over the phone, in addition to helping investors to save time and money, is also quite safe in terms of accuracy in fulfilling customer orders. Because from the time of the customer’s phone call with the brokerage call center to the end of the call and order submission, all orders that the customer enters the transaction system by phone, along with the exact time of orders in the recording and maintenance system and fully executed by the brokerage Becomes. Therefore, the possibility of making a custom outside of what the customer has requested is minimized, and even in the event of such a problem, which of course is very unlikely, the issue can be easily tracked and handled.
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