Best Broker for Share Trading in India
The 2 share markets of India for the best broker for share trading in India are National Stock Exchange(NSE) and Bombay Stock Exchange (BSE) and the sole commodity market of the country i.e. MCX (Multi Commodities Exchange) provide wonderful opportunities for the people for getting rich quickly.
Investing money in the mutual funds as well as stocks is quickly becoming a fast growing trend. It is growing at fast pace in the country, because of its rapid economic growth as well as future projections along with a stable political ecosystem.
As a consequence, anyone having a budget of rupees twenty five thousand or more may enter the share market and start trading in stocks for making money quickly.
Understandably, share trading is not such an easy task. You need to have deep knowledge about the working of stock market and the judgement about when to purchase, sell and hold the shares.
Opening a stock brokerage account
You can open a stock brokerage account in two different ways i.e. online as well as offline.
You may visit the websites of the respective stock broker company that you wish to invest with, finish your e KYC i.e. Electronic Know Your Customer process and then deposit your money in the account.
The detail of bank account from which the Demat account would be funded and the money would be received from the stock trading also needs to be submitted. This stock brokerage account is known as trading account.
You will have to visit the bank or the non-banking financial company which provides stock brokerage service, finish the KYC process by simply submitting a copy of your Aadhaar Card, PAN card no and bank details. This is also known as stock trading account.
Our country has 2 main types of share brokerages i.e. discount brokerage as well as full service brokerage.
The full service brokerage offers a number of benefits- it offers a wide range of stock trading services and products like currency, commodity and stock and investment advice. FSBs operate from different locations in the country and they also have well qualified staff for offering investment as well as advisory services.
The best broker for share trading in India charges fee on the basis of profits and trading.
India Infoline Finance Ltd (IIFL)
IIFL is the member of NSE as well as BSE. This company has been registered with NSDL i.e. National Securities Depository Ltd as well as CDSL i.e. Central Depository Service India Ltd.
IIFL offers stock broking services in derivatives, cash as well as currency through different offline and online stock trading platforms.
It is one of the first Indian stock brokers to become a member of the Colombo Stock Exchange and it’s also the very first Indian stock broker having in principle approval of membership of Singapore Stock Exchange.
Indiabulls Ventures Limited
Indiabulls Ventures is also considered to be one of the best brokers for share trading in India. It is a leading capita stock market companies offering securities, commodity as well as currency stock broking services.
The commodities services are offered through Indiabulls ltd. It has also been listed on NSE, BSE as well as Luxembourg Share Exchange.
It was one of the first stock broking companies to be given the BQ- 1 grade by CRISIL. It is considered to be the highest stock broker quality grade, according to the website of the company.
Karvy Stock Broking Limited
KSBL or Karvy Stock Broking Limited which is mainly the stock broking arm of the Karvy Group is the best broker for share trading. It ranks as top financial services organisations. It has a presence nationwide with its network of partner offices.
It offers a combined accounts facility which caters to all kinds of investment opportunities like trade in derivatives, equity, currency, mutual; finds, initial public offerings and all other options.
Reliance Securities Limited
Reliance Securities Limited is the stock broking wing of Reliance Capital. It offers a whole range of stock brokerage services like trading in equity, derivatives, IPOs, currency, bonds, mutual funds, corporate FDs, etc.
Reliance Securities has positioned itself amongst the innovative and very strong brands in financial services environment. It has more than 800,000 customers, a very strong affiliation network with more than 1000 partner offices throughout India.
Sharekhan is considered to be one of the best brokers for share trading in India It is a subsidiary of the BNP Paribas group since 2016. It ranks amongst the first few stock brokers which offer online stock trading in the country.
As per the website of the company, it has more than 1.6 million clients, around 153 branches and 2400 plus business partners which are spread across 575 locations in the country.
It is one of the biggest stock brokers in India and provides a myriad of investment and savings solutions including equity, currency trading, futures and option, research, investor education, mutual funds and portfolio management.
So on average, it executes 400,000 plus trades every day, according to the company.
ICICI Direct belongs to ICICI Securities Limited and it operates mainly in collaboration with eponymous privatised banks.
This stock broking firm offers online stock trading account for the customers to make it convenient for them to trade in the stock market, currency, derivatives, commodities, etc. available through NSE, BSE and MCX.
Through this stock broking firm, you may open a 3 in 1 trading account that comprises of savings bank account Demat account as well as trading account. ICICI Direct also helps its clients to invest in the Initial Public Offerings as well as secondary stock market.
NBFC even provides financial advisory and products services for the investors in the share markets. You may apply online for the ICICI Direct stock trading account and finish the KYC process at workplace or home through the executives of the company who would also visit the physical location.
HDFC Securities Limited
HDFC Securities Limited is the NBFC which operates under one of country’s top private sector bank, HDFC bank.
You may avail a complete spectrum of the stock brokerage services with the help of HDFC Securities Limited like investing in gold, equity, real estate, derivatives, stocks, fixed deposits, mutual funds, bonds, insurance, currency, derivatives, etc.
HDFC Securities provides an option for trading through different platforms like mobile, online, telephone, etc. through one of its many branches.
It is also possible to place your order for negotiable certificate of deposits or Initial Public Offerings through the stock trading account, or through one of their customer care employees, according to the website.
SBICAP Securities Limited
SBICAP Securities Limited or SSL is the stock broking wing of State Bank of India group and completely owned subsidiary of the SBI Capital Markets Limited.
The website of this top broker for share trading in India states that SBICAP Securities Limited caters to a number of clients including financial institutions, banks, corporate sector, mutual funds, non-resident Indians, high net worth individuals, retail domestic traders and investors, etc.
Its stock broking products range from retail equity, institutional equity, online trades services, Depository Participants Services, and a myriad of 3rd party distribution products and services.
Kotak Securities Limited
Kotak Securities, known to be one of the best brokers for share trading was introduced in the year 1994 as NBFC of the Kotak Mahindra Bank. This company had a net worth of Rs. 1. 53 billion assets under management on 31st March, 2017. Kotak Securities Limited has approximately 1.36 million customers who conduct more than 500,000 traders in a day.
It also has about 1281 branches, satellite offices and franchises in more than 377 cities throughout India.
It’s also the corporate member with National Stock Exchange and Bombay Stock Exchange and depository participant with NSDL i.e. National Securities Depository Limited and CDSL i.e. Central Depository Services Limited.
Motilal Oswal Trading and Investment Services
Motilal Oswal Trading and Investment Services are amongst one of the premier brokerage firms of India.
It’s also won the most prestigious award of “Best Performing Equities Stock Broker” by UTI CNBC TV18 Financial Advisors Awards 4 times. MOIS has an experience of more than 30 years in wealth creation which has benefitted a number of Indians.
Being one of the best brokers for share trading India it has more than 900,000 clients with depository assets worth Rs. 695.61 billion. This NBFC offers country wide coverage at more than 2200 locations in 500 plus cities.
Motilal Oswal Investment and Trading Services offer a wide range of stock brokerage facilities online as well as through physical transactions. You may even avail wonderful advisory stock trading services from it for your investment.
For the first time investors, it’s suggested to first register with any good broker for share trading in India. This would help you in getting some good and useful advice on investment in stocks in primary as well as secondary market.
Additionally, you may even get some useful reports for investment in the other options like systematic investment plan and mutual funds through the financial advisors working with such stock brokers.