Here we are trying to help you find one of the best stock broker in India so that you can invest your hard-earned money is safe & keeps growing.
In order to buy stock, you need a stockbroker to help you with the transaction (i.e. buying and selling). The broker is the connecting link between you and the stock exchange. Choose your stock market middleman wisely. Choosing the right broker is the first step towards having a successful investing career.
Best stock broker in India – your pursuit to become a successful investor
Let’s define the broker’s role, in your pursuit to become a successful investor.
A stockbroker is just like a sales guy.
A broker works for a stock brokerage house (Like ICICI Direct, Angel Broking, Zerodha, Kotak Securities etc.).
The broker’s job is to carry out your transactions.
Brokers are paid by salary, commissions on sales, and/or a mix of both. In short, brokerage houses employ or pay the brokers to execute and complete your transactions. And in case of full-service brokers, to advise you in making your investment/financial/trading decisions as well.
Finding the right broker is an uphill task. The best way out is to make a list of facilities in services you want from your broker. Here are some pointers that you must consider.
Stock Broking Commission & Fees
Consider the commissions and other fees that broking companies charge. But don’t over-emphasize on the cost alone. Also, look for the facilities offered aswell. Example if you have chosen Kotak securities as your brokerage house then avail 3in1 account then you need not worry about the Average Monthly Balance of your bank account if your trading account has enough money. Thus, even in case the bank account balance falls you won’t be charged for that. All brokerage houses have at least two plans. One is generally aimed at intra-day traders and the other is more suitable for long-term investors.
Minimum Trades Clause
Check if there is a clause or sub-clause about minimum trades that you will have to do as well as the penalty for not complying with the requirement. 3-in-1 accounts come with a savings account. In such a scenario, some banks have rules about minimum balance.
Mutual funds and other investment options
If you’re thinking to buy and sell Mutual Funds (MF) through your brokerage account, then look into the funds that the brokerage has collaborations or tie-up with and the services it offers. Usually, while buying MF through broker they don’t charge but it’s not always the case. So, please check it in detail before you zeroed upon some brokerage house.
If you want to invest/trade in options, ETFs, or fixed deposits, do ask whether the brokerage house if they offer such products. The costs of these services must also be looked into as the cost is quite high at times. For instance, discount brokers do not offer such facilities, but full-service brokers do.
Few Full time brokers wants you to open different account if you wish to Trade in commodities. So, ascertain before choosing your brokerage house.
One of the most important aspect of finding the best stock broker in India is research reports the brokerage house provides. Majority of full-service brokerages offer research services. These research allows investors to read analysts’ reports on companies or sectors of interest or access data on companies and take wise decision. An investor do need such reports to judge the future growth of a company irrespective of which field you are expert in.
Look for reviews online on specialized forums such as top10stockbroker.com or user comments on sites such as mouthshut. These sites give you fair idea about the services being offered.
Another important aspect of finalizing among the best stock broker in India is having a local office availability. Some individuals prefer to visit the office to talk to a company executive and suggestions and guidance as well. If you are among them then look for the broking house has a local office. Similarly, if you think you may want to place some orders in person or over the phone via an actual representative instead of a recording, see if it’s possible. If it is, check the cost as the cost incurred might be high. For example, RKSV probably has offices only in Mumbai and Delhi. But, the online facilities and services can be used anywhere and everywhere. As against that, ICICI Securities and Angel Broking have offices in multiple locations.
Find the list of Best Stock Broker in India
Here are some of the best broking houses which anyone can refer to before opening a demat account or for any kind of stock market investment. The list is quite comprehensive so, we suggest to check their review thoroughly before taking a decision. You can also refer our rating of top 10 stock brokers in India 2017. This review will give you a great understanding of how we are rating these stock broking house & why we say they are the best stock broker in India.
List of all Full-Service Brokers in India –
Angel Broking , Motilal Oswal , Kotak Securities , HDFC Securities , Sharekhan , India Infoline / IIFL , ICICI Direct , Edelweiss , Karvy , SBI Cap Securities , Geogit BNP Paribas , Anand Rathi , Religare Securities , Indiabulls Ventures , Just Trade , Ventura Securities , Marwadi Group , Aditya Birla Money , Axis Direct , SMC Global , GEPL Capital , IDBI Direct , GCL Securities , Arihant Capital , Mangal Keshav , MasterTrust , Networth Direct , Reliance Securities , Sushil Finance , LSE Securities
List of all Discount Brokers in India –
Zerodha , 5Paisa , Upstox / RKSV , Samco , SAS Online , Wisdom Capital , Trade Smart Online , Tradejini , Beeline Broking , Compositedge , RK Global , Achiievers Equities , Bonanza Portfolio , MDirect , TradingBells , EzWealth
List of Stock Broking Franchise in India –
Angel Broking Franchise , Kotak Securities Franchise , ICICI Direct Franchise , Sharekhan Franchise , Motilal Oswal Franchise , IIFL Franchise / India Infoline Franchise , SMC Franchise , Nirmal Bang Franchise , Sushil Finance Franchise , Profitmart Franchise
Important Blog Posts –
Top 10 Stock Brokers in India , Best Stock Broker in India , Top 10 Intraday Trading Brokers in India , Top 10 Sub Broker Partner in India , Full Service Broker vs Discount Broker in India , 10 Best Practices of Share Market Investment , Mutual Fund vs Real Estate Investment