In this article, you will read about best swing trading broker in India. Swing trading is a form of trading strategy similar to delivery trading and we will discuss the same in detail.
We will be shortlisting the 10 best brokers for swing trading based on 5 parameters. We will discuss each of the parameters.
Then we will see how each of the brokers fit into these five parameters. So, overall you will get a fair idea about Top 10 Swing trading Brokers in the country to choose wisely.
Before beginning with the parameters let us know a bit about swing trading.
Best Swing Trading Broker – List of Top 10 Swing Trading Brokers in India
Swing Trading is a type of trading strategy where the trader holds his or her position for more than a day. It can be a few days to many weeks that he can hold the position.
Swing trading mainly uses technical analysis to understand the trend & price movement. However, for choosing the stocks/underlying asset, it can use the fundamental analysis too.
Now, Check out the Top 10 Swing Trading Brokers in India.
|Rank||Best Swing Trading Brokers|
The above Ranking of Best Swing Trading Broker has been established based on 5 Factors or Parameters which are important for swing trading. The Parameters are –
- Experience in Swing Trading
- Platforms or Apps compatible for Swing Trading
- Brokerage Charges
- Trade Signals for Swing Trading
- Products offered for Swing Trading
Now, as you know the five parameters on which we have shortlisted these ten swing trading brokers in India, let us see the ranks assigned to them.
In the first position, there is Angel Broking. Angel Broking is followed by Motilal Oswal and IIFL.
These three are like the top brokers where you can do swing trading without any hassle. Then comes Zerodha, Upstox, Sharekhan and ICICI Direct, and others.
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Parameters to determine Top Swing Trading Brokers in India
Lets have a brief understanding of these factors based on which this ranking has been made. By knowing this, you will be able to take a better decision on which swing trading broker is best for you.
Experience in Swing Trading
The first and foremost parameter that you need to check while choosing a Swing Trading broker, is experience.
The broker must have a good amount of experience in providing the service.
It should not be a novice in this field as different aspects of swing trading can be handled by an experienced brokerage house only.
Platforms or Apps compatible for Swing Trading
The next up is trading platforms and applications.
Since swing trading is heavily dependent on technical analysis, the trading platforms must have multiple technical analysis tools, indicators, charts, and everything that swing traders require.
Swing trading as you know involves the delivery of the asset for a certain number of days or weeks. So, delivery brokerage charges are being applied to these trades.
While choosing the broker for swing trading, you need to see whether the broker’s delivery brokerage rates are reasonable or not.
Do not go for the very high brokerage as you do not know for how long you would need to hold the stocks/underlying asset.
Trade Signals for Swing Trading
Trade signals are part of technical analysis. These are indicators that indicate when to buy and when to sell the assets.
Trade signals are very important in swing trading. So, you need to check whether the trading platform of the broker you chose, has multiple trade signals/indicators or not.
Products offered for Swing Trading
Swing trading can be done across different categories whether it is stocks or commodities or others. Thus, while choosing the stockbroker for swing trading, check which all products it offers.
Since, you have a good understanding of the parameters. You can check the brief details of these stock brokers & choose the best swing trading broker.
Angel Broking – Best Swing Trading Broker
Angel Broking as you may know is the largest traditional or full-time brokerage house in the country. It has multiple categories and investment options.
Thus, swing traders can trade different investment instruments here. It has huge experience in the stock market and especially in the swing trading segment.
They charges very nominal fees for swing trading as its delivery charges are nil. It will be just the transaction charges and other taxes.
The broker has multiple trading platforms and other facilities apt for swing trading.
Motilal Oswal – Top Swing Trading Broker
Motilal Oswal is another name that everybody known in the market. In the swing trading segment, it is quite a veteran. It is providing swing trading facility to the traders for many years.
It has different investment products ranging from basic equities to valuable commodities and others.
MO Trader app and terminal are loaded with technical analysis tools and features. So, you can easily trade using these tools.
The brokerage charges of Motilal Oswal for swing trading is 0.5% of the total value of the transaction.
IIFL or India Infoline – Top 10 Swing Trading Broker
IIFL or India Infoline is a premier stock brokerage house that provides a swing trading facility. It has ample trading products for swing trading.
It is in the market for many years and has been providing a swing trading facility as well.
Thus, it holds quite a lot of experience and that is why it has various technical as well as fundamental analytical tools to offer which you can require for swing trading.
The charge for swing trading with IIFL is 0.25% of the trading amount which is quite reasonable.
Zerodha – Best Swing Trading Brokers in India
With Zerodha, swing trading is quite smooth and hassle-free and also very pocket-friendly.
It charges no brokerage for delivery of stocks and thus you do not have to pay any brokerage charges for swing trading.
The charges which you would be paying are transaction costs and STT and other similar charges but not brokerage rate.
Apart from this, Zerodha has one of the most advanced trading platforms and multiple trading options.
Though the firm has less experience than the ones mentioned above, it has great facilities for swing traders.
Upstox – Top Swing Trading Brokers in India
The tech-first brokerage house is also becoming popular amongst swing traders. This is because the broker provides great trading platforms and applications for swing trading.
The platforms are loaded with technical tools, indicators, and others that help in swing trading.
On top of that, there are no delivery charges and thus for swing trading, you do not have to pay any brokerage charges.
The broker also provides different investment instruments to take your position.
Sharekhan – Top 10 Swing Trading Brokers in India
In the 6th position, we have Sharekhan which is a giant when it comes to brokerage houses in the country. It has multiple categories, segments that you can explore.
It has ample technical tools for analysis and also resources for fundamental analysis. The firm has huge experience as well in this field.
The firm charges 0.3% as the delivery charges which means for swing trading you need to pay these amounts as brokerage.
Apart from this, the firm also provides great trading platforms.
ICICI Direct – Best Swing Trading Brokers
Then comes ICICI Direct which is the 7th best swing trading brokerage house in the country. It has multiple asset segments; you can choose the asset/stocks as per your fundamental analysis.
One can take resources and data from the trading platform to perform fundamental analysis and choose the right stock.
You can use the different trading platforms and analytical tools as per your requirement. The brokerage charges of ICICI Direct for swing trading is 0.55% of the transaction amount.
Axis Direct – Top Swing Trading Brokers
Here is Axis Direct which is another best swing broker in India. It has been ranked at 8th position because of its different aspects such as trading platforms, brokerage charges.
The brokerage charges which Axis Direct charge for swing trading is a bit on the higher end that is 0.5%.
However, it has multiple trading platforms, trading options, and products. It has multiple years of experience in the field of swing trading as well.
5Paisa – Top 10 Swing Trading Brokers
5Paisa is a renowned discount brokerage house that has different trading segments for swing trading.
They charges no brokerage rate of delivery trades and thus no brokerage for swing trading as well.
The trading platforms are super-advanced and have different trading signals for indicating entry-exit levels in swing trading.
HDFC Securities – Best Swing Trading Broker
In the tenth position, we have HDFC Securities which is also having many years of experience in the swing trading segment.
It provides an abundance of trading options or products that you can use for swing trading.
HDFC Securities charges only 0.5% of the transaction value. It has different advanced technical trading software for trading.
Best Swing Trading Broker in India – Conclusion
Finally, we can say that these ten brokers are really good for swing trading. They have more or less all the parameters to be a good swing brokerage houses.
While some of them are pretty good, others are fair in their performance. Most of them meet our criteria and parameters mentioned above.
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