Who controls the match fixtures in international cricket? BCCI. Who controls the banking processes in India? The RBI. Who controls the stock market operations in India? The Bombay Stock Exchange. Similarly, Multi commodity Exchange is the controlling body for commodity trading in India.
It is the first listed commodity exchange in India which helps in performing online commodity trading. It mainly deals with metal and energy trading. It has been awarded as the "Best Exchange in Bullion 2018" awarded by the Assocham 11th International Gold Summit on September 2018. It has been known to incorporate the latest technologies to perform trading.
It is the application through which the traders can place and execute their trades. The orders can be placed based on the time and price conditions. It is tailor made suiting the needs of the user.
The basic requirement to perform trades related to commodity is a trading account. You can approach an online trading company like 500 per crore to open a trading account and start your transactions. Then, open a demat account with a bank or a licensed stock broker.
Fill an application form to proceed with the process. Based on your financial strength, the company will give a list of options to you for trading. You need to provide the company with the documentation containing your proof. Once you are done with this process, the company will take few days to process your application and approve it.
Once the account is open, you must deposit an initial margin amount in your account to proceed with the transactions. It is a very simple process and can be done with ease.
With the immense benefits it offers, it is the wisest choice for trading. It will help during times of great adversity. It serves as an asset during times of inflation. Even though it has its own cons, channeling the trade towards the positives, it can provide good returns. Still feeling confused? You can approach an online company like 500 per crore who will guide you in every step you take. Happy investing!