TOP 10 BEST BROKERAGE ACCOUNTS FOR NEW INVESTORS IN INDIA
Are you also excited about the great returns that you keep hearing about in the share market and just can’t wait for trying it?
Just slow down a bit, it isn’t that easy too. You need to understand the risks as well as challenges related to trading and investing in the stock market.
Challenges beginners face while investing in the Indian stock market
Stock market is considered to be a very popular option for making investments. It is also the most difficult option. Below are some of the biggest issues that beginners face while investing in the share market.
1. Over Excitement
Most of the beginners get over excited before they enter the market. Investment bankers of the financial institutions, the brokers and even relatives and friends would tell you a lot of positive stories for encouraging the newcomers. They show the reports with some extraordinary returns. Sometimes because of the excitement of earning money, the investors only see the positive side of share market.
2. Steep curve of learning
The share market is a complex one. For trading or investing in the share market you need to understand some of the basic rules related to this game, the parties involved the rights you have as an investor and finally learning how to buy/sell stocks.
3. Understanding the type of brokers
On the basis of the different types of services they offer, the stock brokers may be categorised into 2 main categories i.e. discount brokers and full service brokers.
Full service brokers provide a lot of other services too along with the commodity and stock trading services. These include insurance, banking, investment advisory, margin funding, etc. You may consider them to be your one stop destination for investing your money.
Discount brokers mainly focus on the brokerage business. They specialise in a core domain. Their fee is significantly less as compared to the full services brokers.
4. Choosing the right broker
For trading with commodities and stocks in the exchange, you need to have a Demat account with the top commodity brokers in india or stock broker. The broker charges a particular fee for the services they offer which might differ prominently from one broker to another. Also, the brokers offer services which vary from one customer to another. It is just like selecting the bank for opening the account. It is very important to select the right stock broker for investing or trading.
5. High risk category of investment
Risk is something unavoidable for any type of investment. Share market is amongst the high risks investment option available. Additional care is required while investing in the share market.
Why is selecting a stock broker so difficult
There are a lot of stock brokers in the country. More than 100 stock brokers are popular in the country and they have a network of their branches across the country.
These Top 10 best brokerage accounts for new investors in India offer a wide range of services. You might not require all of these stock brokers.
All the Top 10 best brokerage accounts for new investors in India charge different type of charges.
· Not each stock broker does hand holding for beginners.
· Not every stock broker offers tips to the beginners.
· Just a couple of stock brokers provide trading services for the NRI customers.
1 . ICICI Direct
ICICI Direct is the banking equity stock broker which enjoys brand value. In the year 2000, it introduced its broking wing i.e. ICICI Direct. High brand value permits ICICI Direct to charge a high brokerage. It offers a lot of products to its clients including derivatives, equity, mutual funds, currency, loans, FD/Bonds, NPS, etc.
2. HDFC Securities
HDFC Securities is also amongst the Top 10 best brokerage accounts for new investors in India. It enjoys a high brand value and has an extensive client base. With more than 200 branches in the country, it has become of the best stock broking firms in the country.
Zarodha tops the chart in terms of discount brokers. It possesses a client base of more than 6 lakh customers. With 332,000 UCC activation, Zerodha has gained the 4th position in the country.
Sharekhan is a very old equity broker of the country. It was established in 2000 and currently it’s the member of BSE, NSE MCX-SX, MCX and NCDEX. With an active client base of 454,167 it is also amongst the Top 10 best brokerage accounts for new investors in India.
5. Axis Securities
Axis Direct belongs to Axis Securities. It has an extensive client base and offers a number of services to traders and investors.
6. Kotak Securities
Kotak Securities also has a very good clientele. It offers the 3 in 1 Demat Account which has helped it become the number 1 brand equity company in the banking and services business.
7. Angel Broking
Angel Broking is a top traditional stock broker of the country. It was established in the year 1987 and since then it has made a good name for itself in the industry. As of today it has achieved a client base of 3, 06,541 customers.
8. Motilal Oswal
When it comes to traditional brokers, Motilal Oswal tops the chart. Due to their in depth research and a presence across India, it has become one of the most popular stock brokers of the country. It was established in 1987 and as of today it has 2, 62,000 active customers.
9. India Infoline
India Infoline is a diversified financial brand which was introduced by Nirmal Jain. It is one of the Top 10 best brokerage accounts for new investors in India listed on NSE. Today it has more than 3500 sub-brokers. It has recently also launched its discount broking arm, 5paisa.
Karvy was established in the year 1985 as a broking wing of the Karvy Group. It has a very strong presence in the South Indian market. It offers 10+ products. It offers flagship research reports as well as advisory. It has more than 100 branches as well as partner offices in the country.