TOP FULL SERVICE STOCK BROKERS IN INDIA
Full service brokers are licensed broker dealer broking firms which offer a wide range of services to the investors and traders including advice and research, tax tips, retirement planning, etc. You definitely need to pay a price for all this as commission of the full service brokers are quite high as compared to the discount stock brokers. Full service stock brokers offer expertise for the people who do not have time for staying updated about the complex issues like estate planning and tax planning. However, for the people who only wish to execute trades without any extra services, the discount brokers would be the best.
The full service broker provides custom support as well as interaction for facilitating the trades, financial planning, managing the portfolios as well as wealth management service for the clients.
They are considered to be main point of contacting full service brokerage firm.
Financial advisors and stock brokers
Stock brokers are the licensed professionals who handle the investments of clients and also offer financial advice to the clients. These brokers are expected to pass series 7, series 63 as well as series 65 examinations for attaining the licence. The brokers working with the financial broking firms also should be registered with FINRA i.e. Financial Industry Regulatory Authority. Licensed brokers should be fluent in bonds, options and stocks.
It’s very important to clearly distinguish between a financial advisor as well as a stock broker. The stock brokers are much more empowered for providing security products and transaction based services. While on the other hand, the financial advisors undertake a broad range of financial services which include estate planning, budgeting and financial planning, tax advice as well as insurance products.
Additional benefits of full service brokers
The full services firms have bigger research department with analysts which offer proprietary in depth reports as well as recommendations for the clients. They have the divisions of investment banking which may offer some accredited investor and trader clients’ access for the financial products like IPOs (Initial Public Offerings), preferred stock, senior notes, limited partnerships, debt instruments and various alternative and exotic investment opportunities. This is the biggest advantage of full service firm. The full service brokers have in house range of products such as portfolio management, mutual funds, loan services, insurance and ETFs i.e. exchange traded funds. All the full service brokerage offer physical office location for the clients.
The clients of full service brokers appreciate the convenience of using the services of personal brokers manage all the investment needs. It’s the one stop shop for financial management and investment management. Most of the full service companies offer an online access as well as trading platform. The self-directed investors often take the benefit of the offerings. These kinds of platforms are fully loaded with a lot of fundamental research, execution of order as well as tools for technical analysis.
One of the first Top full service stock brokers in India is Zerodha.
The flat free of cost share full service broker who is also known as a discount broker or a budget broker or pay per order broker for trading in commodity, stock and currency derivative. It charges a brokerage fee of Rs. 20 or 0.01% for every executed order (whichever is low), irrespective to the no. of shares or prices. With Zerodha, the max brokerage fee that you pay for some other transaction Rs. 20 for every order. It does not have minimum brokerage.
2. ICICI Direct
ICICIDirect is the retail trading as well as investment services from ICICI Securities, biggest retail stock brokerage firm in the country providing a number of investment options to retail as well as institutional customers. It is a part of the ICICI Group which is the top financial services provider providing banking and certain other financial products and services to more than 20 lakh clients via ICICI Direct.
3. Axis Direct
The next name in our list of Top full service stock brokers in India is Axis Direct. It is the flagship label of Axis Securities Ltd. AxisDirect is amongst the couple of full service brokers who offer integrated trading Demat bank accounts. This allows seamless movement of shares and funds and also makes it very easy for the seasoned investors as well as beginners in the share market
4. Aditya Birla Money
Aditya Birla also provides services such as online bid for mutual funds and IPO, distribution of insurance and mutual funds, subscription based plans, etc. It has become the part of Aditya Birla in 2009, while the group achieved 76% of the firm. ABML has its headquarters in Chennai where it’s centralised the back office operations as well as trading.
This is another name in our list of Top full service stock brokers in India. Religare Securities is the firm offering retail broking, DPs and other significant speculation administrations to the clients. It has its physical nearness in excess of 500 urban communities in India. Thus, it has become one of the biggest physical stock broking company offering personalised services to more than 10 lakh clients.
6. Trading Bells
Trading Bells charge Zero brokerage on the delivery trades and Rs. 20 per every trade for the other segments of currency, equity and commodity trading. Along with the broking services, TradingBells also provides mutual funds, IPO, Margin Funding, IPO Funding as well as loans against shares.
7. Bajaj Capital
Just Trade.in belongs to Bajaj Capital. It is the online investment and stock broking business of Bajaj Capital which is one of the top financial planning and investment advisory company of the country.
Their objective is to offer seamless experience to Indian investors investing online. It intends to offer its clients with one single Log in ID. It aims at engaging as well as educating the investors and providing value added services through a flexible pricing package which includes variable brokerage as well as fixed brokerage based plan for giving value for the money invested by investor.
8. IDBI Paisabuilder
IDBI Paisabuilder is the multipurpose online full service stock broking website which belongs to IDBI Capital Market Services Ltd. It is a leading service provider of the country offering financial services and products.
It allows investment in derivatives, equity shares, IPOs and mutual funds in the Indian stock markets. You may buy/sell securities on BSE and NSE.
The retail stock broking wing of Edelweiss offers all the facilities for investing and trading in asset classes i.e. debt, equity, IPOs, mutual funds, currency derivatives and futures and options.