With the increase in number of stock broker, people have a lot of stock brokers to choose from, but still it is not easy to choose. You need to be sure of what is that you want from the Brokers. Phone trading: Most of the brokers have no deposit bonus forex 500 bill to provide online trading services to their customers.
Some of them also provide trading on phone or even physically at their location. Decide what would be a good fit for you. How often do you trade: Whether you are a trader or investor. Investor is someone who trades few times a year while trader will trade at least few times a month. If you are an investor brokerage generally won’t make a big difference in your returns while if you are a trader, brokerage can mean whether you end up making a profit or loss. So decide whether you want to be a trader or investor before choosing a broker. Will you require advice to trade: Would you need financial adviser to suggest you trades or would you be trading on your own?
If you need adviser, remember to get some historical data of how good the broker is known to provide advice is and would you be comfortable giving him your money. Full service broker generally will have research desk which will send you a lot of recommendations for trading in stocks. Doing trade without internet: One more thing to keep in mind while looking at the broker is whether or not it provides call-n-trade service. Because even if you have a Smartphone, there could be a possibility that you are not able to access your account due to slow internet speed. Then you should be able to call you broker for closing the trade.
Most of the broker provide call-n-trade service but ask what is the extra charge for using that service if any. Trading with local Brokers: Newer generation traders are tech savvy and don’t mind to trade online. If you are like them, discount brokers would be a good fit and if you are someone who prefers to know the face of the brokers, this list would be of little use to you as I have not included any local brokers here. Trading platform provided: One more important thing to ask is what trading platform is provided by your broker and is there any extra charge for accessing that. Most of the big broker have started providing their own proprietary platform. These new trading platform make trading easy and would take you just couple of hours to get used to trading platform.
Do remember that some of the local brokers still provide NEST and ODIN platform for trading. In the last couple of years, with the increase in internet penetration and coming of smartphone in India, I have added some of the major discount brokers also in the top 10 list. O trades, the brokerage is 0. Pi which allows for writing custom algorithm.
PI has to be installed on your computer to make trades. The good thing about these discount brokers is you may never have to visit their offices. The forms can be filled online and the application can be shipped to them. This type of discount brokers are new in India and providing tough competition to full service brokers.
UPSTOX: Upstox formerly known as RKSV is a discount broker operating from Mumbai. They provide very competitive rates of Rs 20 per trade irrespective of the size of the trade. With them also, delivery based trades are free. Fyers: They are one of the newer discount Brokers and provide brokerage rate of . The thing to keep in mind with them is the brokerage is capped at Rs 100 per trade. They provide one the the best trading platform which is built in house completely. For a latest updated list of discount broker, read top 5 discount brokers in India.