What is NCDEX
NCDEX can be defined as the National Commodity and Derivatives Exchange which leads in agricultural commodities trading, and you can trade in these agricultural products to earn good profit.
NCDEX plays a vital role in boosting the agricultural economy of the country. NCDEX was established in 2003 in Mumbai as its headquarters. It has many branches across the country as India is one of the leading global producers of agricultural commodities like rice, wheat, sugar, etc.
Commodities Traded on NCDEX
Here we have mentioned the list of the commodities that are tradable in the NCDEX exchange.
• Fibres: Kapas and cotton
• Cereals AND Pulses: Chana, Barley, Bajra, Wheat, Moong
• Oils and seeds: mustard, crude palm oil, soybean, castor
• Spices: Turmeric, jeera, coriander
Benefits of NCDEX
As NCDEX is dealing with the agricultural products which is consumed in a very large numbers across the country so we have mentioned some of the benefits of trading in NCDEX.
• Increase market transparency
• No middleman involved
• No additional costs
• Reduction of the price data cost for the farmers
• Spread quality awareness amongst farmers
• Boost overall productivity of the country
• Exports all agricultural products
• Helps in standardization to improve the agricultural practices
Important points related to trading in NCDEX
1. The market works in real-time hence the prices can fluctuate easily, the exchange works on the market settlements.
2. There are numbers of orders you can place in NCDEX: IOC, Good till Date, and good till Days.
3. You can place a market stop loss or a limit stop loss.
How to open a NCDEX Account?
There are some brokers which offers trading in NCDEX. If you do not have an account and wish to do trading in NCDEX and you wish to open one, visit the following links.
To open your account in Zerodha
2. Angel Broking
To open your account in Angel Broking
To open your account in Upstox
NCDEX is the one of the largest exchanges in terms of trading volume. It is playing a vital role in boosting the agricultural economy of India.
NCDEX needs to be used wisely as a platform for the overall economic development of the country.
Also Read: What is ETF