You will want to understand the differences in brokers as well as the type of investor you are before choosing a specific broker. Two types of brokers include discount brokers and full service brokers.
Discount brokers will charge a lower fee than a full service broker while providing minimum trading facility at a lower cost. This will generally allow for an investor trust the broker to make fast, real time decisions. Full service brokers provide multiple services apart from buying and selling shared. Many are bank subsidiaries providing a client with a savings account, demat account and online trading facility. Above all else, a full service broker will provide well established personal advice regarding market trends.
Before choosing an Indian stock broker you will need to ask yourself this question. If you consider yourself a day trader you will need to invest within a small time duration that can be as short as a few minutes and as long as a few hours. As a day trader you will want to seek out a broker who will offer a flat fee on transactions or offer lower fees. This is closely affiliated with discount brokers. Some well-established India based brokers who will offer you real-time, valuable market research platforms for a lower fee include Zerodha and RKSV Security.
The second type of investor will buy and hold stock for longer periods of time. In this case of an investor there is a strong need to obtain extremely accurate data in a short time period in order to make the best investment decision possible. You will need a broker with a solid execution strategy and one who understands long-term market values, trends and trading patterns. India based full service brokers include IDBI Palsa builder, Motilal Oswal Review, Indiabulls and Geojit BNP Paribas.
Save yourself money by researching reputations of stock brokers. You can browse through SEBI and stock investment websites in order to find the right broker. Through reputation research you will be able to see any issues complaints that exist against a broker or browse their personal experience working with investors in the market. Choose a broker who is highly experienced and has an up to date knowledge of the inner workings and trends of the market.
There are different kind of fees associated with working with a broker. There are account opening fee, transaction fee, maintenance fee etc. Look for low transaction fees if you trade more often, and low maintenance fee if you hold stock for longer duration.
Brokerages are increasing capacity to utilize advanced technology through software development and market research tools. Operating an account with a broker who has knowledge of these kinds of software and market research tools will provide incentives for you to make informed and timely decisions in choosing stocks.
Whether you are looking to invest in IPO or Market Funds choose an investor who allows you to do so. Working together as a team is crucial in choosing a broker to make decisions with your finances.
|Zerodha||Rs 200||Rs 20 or 0.01% whichever is lower.||Open Account Now|
|RKSV Security||Zero for ISB readers||Five trade free every month. Rs 20 per trade after that.||Open Account Now|
|SAS Online||Rs 400||Rs 9 per trade or 0.07% per trade.||Open Account Now|
|TradeJini||Rs 300||Rs 20 per trade.||Open Account Now|
|Trade Smart Online||Rs 400||Pay maximum of Rs 15 per order.||Open Account Now|
|TradePlus Online||Rs 499 but it is redeamable||Unlimited commodity brokerage for Rs 99.||Open Account Now|
|Ventura Securities||Rs 3500 but it is refundable||Rs 50 to Rs 18 per option Intraday from 1 paise to 3 paise.||Open Account Now|
|Angel Broking||Rs 350||Rs 300||.50%||.06%|
|AXIS Direct Brokerage||Rs 999||400||.5%||.05%|
|Bonanza||Rs 600||Rs 275||.50%||.05%|
|Canmoney||Rs 200||Rs 200||.35%||.01%|
|Geojit BNP Paribas||Rs 800||Rs 400||.30%||.03%|
|HDFC Security||Rs 999||Rs. 550||Higher of 25 or .5%||Higher of 25 or .05%|
|ICICI Direct||Rs 975||Rs. 500(mail statement) Rs 450 (email)||.55%||.05%|
|IDBI Paisa Builder||Rs 700||Rs 350||.50%||.08%|
|Indiabulls||Rs 1350||Rs 450||.30%||.05%|
|IIFL||Rs 750||Rs 450||.50%||.05%|
|Kotak Securities||Rs 750||Rs 50||.59%||.06%|
|Reliance Money||Rs 950||Rs 210||.30%||.035%|
|Motilal Oswal||Rs 550||Rs 900||.5 - .9%||Buy - Nil Sell - .25% to .4%|
|Religare||Rs 499||Rs 300 (email) Rs 480 (paper statement)||.3%||.06%|
|SBI||Rs 500||Rs 386||.75%||.05%|
|Sharekhan||Rs 750||Rs 441||.5%||.1%|
|SMC India||Rs 499||Nil||.30%||.03%|
|Ventura||Rs 1000||Rs 400||.45%||.05%|