Best Brokerage Accounts For New Investors in India
So you’ve decided to step in the stock market but don’t know how to start? Well, it is advised that you should take small steps initially, and then understand and then learn about the dynamics of the market before actually plunging in the market. Before you set out to look for Brokerage accounts for new investors India or a Demat account, first try to list your expectations and preferences from the stock broker and the Demat account.
Usually, some of the basic requirements of an individual who is just starting to trade in the share market or if you are looking for a small investment include:
· Initial understating of the basics of stock market and trading
· Assistance with research and tips
· Extremely usable platforms for trading with a rich user’s experience
· Low brokerage fee
You will find all the details about the best discount stock brokers and full stock brokers online. Below is a list of best brokerage accounts for new investors.
1. ICICI Direct.com
ICICI Direct.com provides a secure, seamless and well integrated 3 in 1 platform for trading. The 3 in 1 trading account links banking, trading and the Demat account making sure that you get unmatched convenience.
Benefits offered by ICICI Direct.com
· Seamless trading
You may trade in stock without any hassles of managing the settlement cycle, writing cheque and transfer instructions. It’s easy and hassle free.
In place of transferring money to the pool of the broker or towards the deposits, you may easily manage the Demat account and the bank account while trading through this platform. It offers the flexibility of paying only while trading.
· A number of products
You get the options of stock trading in BSE and NSE, innovative offerings such as MarginPlus, Margin, SPOT, BTST, etc.
· Award winning research
They understand the need of research for making right investment decisions. They focus mainly on this domain. They have a team of professionals who offer consistent delivery which has helped them won the “Most preferred stock broking brand” at CNBC Awaaz Consumer Award, 2007.
You could be sure that all your orders would be accurate for the amount that you expected it to be without any kind of deviations, giving complete control of the trades and money.
· Review and tracking
Monitoring the investments is very important. The portfolio tracker and the watch list along with SMS alerts would help in keeping you up to date about the status of the investment that you make with them.
With 5Paisa.com you get to trade in stock, futures and options and even currencies at a price of Rs. 10 flat. When you trade with them you save approximately 90% of the brokerage cost. You can open a completely paperless account on the basis of your Aadhaar card. Manage your investment from one single account.
Benefits you get with 5Paisa.com:
· Value for your money
They very strongly believe that paying the brokerage in terms of % is preposterous. The brokerage per commission shouldn’t be linked with the trading value. Therefore, they offer Rs. 10 per order as flat rate irrespective of segment that you trade or value of the trade.
· Smart advisory
Advisory as well as research is very important for decision making. They understand this properly and offer technical, fundamental and derivative advice to their clients.
· Dedicated assistance
They offer a wide range of products for making you independent. But, when you still need support then you just need to call them. They have a dedicated customer care centre which helps the clients in not just solving the queries but also in executing the trades and offer advice.
They kick started their operations in August, 2010. Their goal was to break all the barriers which the investors and traders face in the country in terms of support, cost and technology.
Today, they’re amongst fastest growing, contributor on BSE, NSE, MCX and MCX-SX with an average daily trade turnover of more than Rs.10, 000 cr.
Benefits of trading with Zerodha
· Home grown technology
Modern, sleek, intuitive trade tools which are built right from the scratch keeping the “easy to trade” policy in mind with the help of advanced technology and the innovation first approach.
· Unbeatable “zero” pricing
Hundred percent free equity and direct investments in the mutual funds. They charge flat Rs. 20 on intraday, currency, F&O, as well as commodity trading across BSE, NSE, and MCX.
· 900+ support staff
They have a multi lingual assistance team for answering all your queries over email and phone.
· Open education
They have developed “Varsity” which is one of a kind, open education portal online which covers fundamental analysis, options trading, technical analysis, commodities, etc.
The official blog of the brand, “Z- Connect” offers the clients a platform for interacting with community and helps the investors in understanding everything about Zerodha and other initiatives.
Founded in the year 2000 and subsidiary of the BNP Paribas group since 2016, Sharekhan was amongst the first few brokers to provide online trading option in the country. Having a customer base of 16 lakh customers, 2400 business partners and 153 branches spread across 575 locations, it has become one of the biggest stock brokers in the country. It offers a number of investment and savings solutions including futures, equities and options, portfolio management, currency trading, mutual funds, research and investor education. Sharekhan executes 400,000 plus trades every day.
Benefits of trading with Sharekhan
· It is registered with BSE and NSE for futures, capital market, currency and options segments and NSDL and CDSl for the depository services.
· It is a full services stock broking company offering online services including account opening online to investments and trading.
· It has developed some of the best online trade platforms like Sharekhan app, Trade Tiger, Sharekhan Mini, etc.
· A very strong physical network with more than 2600 outlets in more than 575 cities
· Research based advice about investments on all the asset classes for suiting trading and investing styles
· Well dedicated training and education courses designed keeping the needs of traders and investors in mind.