Best Stock Market Broker in India
If you are looking to enter the stock market anytime soon, you would definitely need the support and assistance of a good stock market broker in India. This industry is quite confusing and thus expert guidance and support is extremely crucial. It is also quite confusing as to which stock market broker India you should work with. There are plenty of stock market brokers in India today but not everyone would be able to fulfill your needs. So you need to do a little research about the good and popular stock market brokers and choose one of them accordingly.
How to choose the right share broker
Before you go on to choose a stock broker, there are certain important points that you should keep in mind to make sure that you do not make any mistake.
The type of investor you are
Before selecting stock market broker in India you should ask yourself what type of an investor are you. In case you think that you are a day trader, then you will have to invest your money within a very short period of time. It could be as small as a couple of minutes or a couple of hours. Being a day time trader you would like to hire a stock market broker in India who would offer you a flat stock brokerage fee on the transactions or a lower fee. This is possible in case of discount stock brokers. Some of the well-established stock brokers who offer real time, value based market research platform for low fee are RKSV and Zerodha.
The other kind of investor would buy as well as hold the stocks for a very long period of time. In such a case there is a very strong need for obtaining the right data within a very short span of time for making the right investment decisions. You would need a stock broker who offers you good execution strategies and he should also be able to understand the long term values of the market, the trends of the market as well as the trade patterns of the market. Indian full service stock brokers are Motilal Oswal, IDBI, Geojit BNP Paribas and Indiabulls.
Reputation of the stock broker
You may save yourself some money by simply researching for the reputation of the stock brokers. You may go through the websites of SEBI for finding the right stock brokers. This research would help you to look for any kind of complaints or negative reviews which are there against the stock broker. You should go for a stock market broker India who has got a good experience and who also has updated knowledge about the inner working as well as trends of the stock market.
You will see that there are different types of fee that you need to spend for working with a good stock broker. There are transaction fees, account opening charges, maintenance fee, etc. You need to look for a low transaction cost in case you are a regular trade and if you trade often.
Market research and platform facilities
The stock brokerages are raising the capacity for utilising the advanced technology through development of software as well as tools of market research. Opening an account with the stock broker who has good knowledge of such software as well as tools of market research would offer you incentives for making a timely and informed decision for selecting the stocks.
Range of the facilities being offered
Whether you’re planning to invest in market funds or IPO, you need to look for a broker who lets you do it. Working with him as a small team is important and thus selecting a stock market broker needs to be done carefully.
Below are a few top stock market brokers that are currently working in India. You can compare them on the basis of the services they offer and then decide which one would be able to serve you the best.
Talking about the best stock market broker in India, Zerodha tops the chart in terms of discount stock brokers in the country. With a customer base of more than 6 lakh customers, it has become one of the leading stock brokers in India. They charge a flat fee of Rs. 20 for every executed order and they also have their own in- house trading software as well as chart based stock trading. Having a UCC activation of about 332,000 it has become the 4th biggest stock broking house of the country. It tops the chart with a customer base of 7 lac customers and a market of share of about 3% in terms of discount stock broking and 4th biggest stock market broker in India. It is one of the first stock market broker India and a pioneer in the concept of discount stock broking.
2. ICICI Direct
This is considered to be the best stock market broker in India. Having a banking background, this brand enjoys strong brand value having highest account in the equity market. It leads the chart in terms of UCC activation. It has its own online trade platform called trader racer. It also offers online classes for learning trading. So you can get good knowledge about the stock market in these online classes.
3. Share khan
Share khan is also considered to be the best stock market broker in India. It is a very old equity stock broker of the country. It is a pioneer in net based online stock trading in the country. It is considered to be the best stock market broker India for beginners as it offers an in depth market research as well as relationship manager assistance for beginners. This is what makes it the best stock market broker in India.
In case you are in search of the best trade platforms for trading advice as well as investment, then this is the best option for you.