So before we get into the details about the best full-service stock brokers in India, let us first tell you a bit about who exactly is a full-service broker, what kind of services does he offer and what is his importance for the investors.
What do you mean by full-service broker?
Full-service broker as the name suggests is a properly licensed financial broker and dealer who offer a myriad of services to their clients. These services include research, suggestions, planning for retirement, tips on taxation and a lot more services. They do charge a price for offering all these services. They charge commissions and their commission is on a little higher side as compared to what the discount brokers charge.
The full-service stockbrokers offer expertise to the clients who cannot stay updated about the complex issues of financial markets like estate planning, tax planning, etc. However, people who wish to execute the trades simply without getting any additional services should approach the discount brokers.
Parameters which decide best full-service brokers
There are certain parameters on which the full-service brokers are assessed to be declared the best. These are:
1. Portfolio of the broker online
The brokers develop a portfolio and upload it online where you can check the profit/losses against shares, the value of shares and other such useful information. It gives a consolidated view of investment.
2. Technical Analysis
The brokers also provide the basic charts as well as technical charts of the stocks and commodities on the website and the trade terminals. These charts help the clients technically analyzing the investment.
3. Online Demo
The brokers also offer a LIVE demonstration of the trading platform as well as the back office.
4. Trading on Mobile
The brokers also offer a mobile platform for trading.
5. 3 in 1 trading account
The brokers offer a 3 in 1 trading account i.e. Demat Account, Trading Account, and Banking Account. This account is quite helpful for beginners and regular investors.
6. Auto trading
The brokers also offer software for auto trading online to their clients. Auto trading is sometimes also called robotic trading or program trading or computer trading.
7. Post trading hours orders
The brokers who offer facilities to place post the trading hour orders. The order is sent to the exchange on the following trading day.
8. Good till canceled (GTC)
Good till canceled helps the clients to place their order that is there in the system till it’s executed or reaches a specific number of trading days.
Through the GTC feature, the investors may easily state the buying and selling orders in the equity script of their choice also mentioning the time period through which the order instructions would be valid.
9. SMS alerts
The brokers send text alerts for all major transactions.
Best Full-Service Stock Brokers in India
Below are the best full-service stock brokers in India.
- Kotak Securities
Kotak Securities claim to offer full control stay as it belongs truly in the hands of the clients. Thus, when the investment of the clients is concerned, they let the clients know everything about their stocks. They offer expert advice and in-depth investment guidelines and the multiple accessing points which help the investors know where exactly their money has been invested and the way it’s performing.
This is another online trading platform. Sharekhan claims to offer a lot more than others. They call it the Sharekhan investment account as apart from just a trading platform, they also offer research-based advice, give the details about all the latest trends in the market and the useful techniques to trade. Whether you are a beginner or a regular investor, they have a dedicated team of professionals who offer classroom education online, self-assistance videos, newsletters, and regular updates about the market.
ICICIDirect.com offers a secure, and well-integrated 3 in 1 online trading platform. This 3 in 1 trading platform helps in linking the banking, trading and the Demat account. It offers valuable convenience for the clients. You get a number of benefits with the 3 in 1 account like:
– Seamless trading
The clients may trade in stocks without actually going through the hassles of tracking the settlement cycle, writing a cheque, etc. All this is made hassle-free.
In place of transferring the money to the pool of the broker or towards any deposits, the clients may easily manage their Demat account and their bank accounts while trading with ICICIDirect.com. It gives the flexibility of paying only when trading happens.
-Variety of products
Stock trading in BSE as well as NSE, innovative offerings such as MarginPlus, Margin, SPOT, BTST, etc. are offered by ICICIDirect.com. It also offers derivatives trading, mutual funds, SIPs, overseas trading, life insurance, etc.
- Reliance Securities
Reliance Securities has given a new perspective to the way investors look at investment in the stock markets and take the investment related decisions.They offer revolutionized solutions for stock trading, top-quality research, competitive commission plans and exclusive rewards programs that equip the investors with state of the art trading experience.
- SBICAP Securities
SBISMART helps the investors to make their own decisions. They make the clients listen to their inner voice and take decisions regarding investment in stocks. They offer different services like Smart Investment Tool, deep research, in-depth analysis and a wide range of investment options that help the clients in pursuing their aim confidently. SBISMART.com has been empowered with a number of new and powerful features.
- Axis Direct
Axis Direct offers a wide range of financial solutions to clients. Their flagship brand provides simplified solutions for investment. They help the clients in investing smartly through their in-depth research, advanced tools, and multiple online trading platforms.
So these are some of the best full-service stockbrokers available in India. They offer smart investment solutions, strong tools and in-depth research of the stock market which helps the investors.