Top 10 Best Stock Broker in India
Whether you are just entering the domain of stock market or if you have been doing it since ages, you definitely need a good stock broker. Stock brokers are the intermediaries between us and the stock market. They are fully updated about the ups and downs of the market and help people invest their money and earn profits in return.
The picture has completely changed now. Earlier the only mode of stock broking used to be a stock broker and then deal with him over phone. But with advancement of technology now there are a number of options through which you can trade. Now you don’t even need to hire an actual stock broker. Rather you can just choose one good company and trade with it. All the big names in the market today offer the option of online stock broking.
With the rising number of brokers in the market today, it’s become difficult for people to choose a good broker. But, it is still not so difficult. You just need to make sure about what you expect from the broker. There are a few important things which would help you to choose the right broker for you.
.You want to hire a full service broker or a discount broker
· You would prefer online trading or offline trading like trading on the phone
· Do you need advice on trading
· Would you like to trade without internet
· Would you prefer taking help of the local broker
Keeping these things in mind which will help you to make sure that you hire the right broker to choose from
Top 10 best stock broker in India
Below is a list of Top 10 best stock brokers in India
Discount brokers in India
They’re considered to be one of the oldest and the biggest discount brokers in the country having a client base of more than 550,000 clients. Their brokerage structure is competitive and very simple. For the delivery based trade they charge zero brokerage, for intraday and Futures & Options they charge 0.01% or Rs. 20(whichever is less). The process of opening an account is easy and the account could be opened online. They have the trading platform which is known as KITE.
Zerodha is one of those very few discount brokers who have a proprietor trading and charting software which is known as Pi. It allows custom algorithm. Pi needs to be installed on the computer for the purpose of trading. It is an innovative broking firm which offers a number of financial tools that include small case, thematic investment products, star BSE mutual funds platform with the help of which you can invest in direct mutual funds, etc.
It was earlier called RKSV which is a discount stock broker based out of Mumbai. They offer much competitive rate of Rs. 20 for every trade irrespective of size of trade. They also offer free of cost delivery based trade. They have a cutting edge trade platform which is known as Upstox Pro that you can run from the browser or through the app. Their process of opening an account is easy and also can be done online.
This is also one of the Top 10 best stock brokers in India. It is one of the newest broking firms and offers Rs. 20 or 0.01%, whichever is low for intraday. It has one of the best online stock trading platforms which have been constructed in house totally.
Full service brokers in India
4. Angel Broking
Incepted in the year 1987, this broking firm has gained a lot of popularity in wealth management and stock broking. They have a huge network of franchises and branches in more than 900 cities. And thus they have a wonderful supporting system for traders and investors who like to interact in person while trading. Alternatively you may even choose their trading platform for mobile, desktop, etc.
They have a client base of 10 lakh+ customers. You can open a Demat account without any paper work.
5. ICICI Direct
This is bar far one of the biggest and most popular full service broker of the country. They offer a wonderful service and they have a very easy user interface. The brokerage they charge is a little high and may vary from 0.55%- 0.20% on the basis of the value of the trading you conduct through them. One of their biggest points of sale is the seamless integration they offer. They even offer special products such as “valid till cancel” service and also T+90 trade in the BSE segment.
This is one of the Top 10 best stock brokers in India and also one of the most reputable brokers in India. It is a full service broker offering a wide range of financial services to the customers. It is known for the advisory services it offers. It has a customer base of 8 lakh plus.
Incepted in 2000, Sharekhan has grown to become the second largest broker of the country offering brokerage services via online trade website and 1950 shops that include the franchises and branches across India in 575 cities. It is a full service trading broker which offers various services including asset management.
This is another one of the Top 10 best stock brokers in India and with the help of its bank branches; it has developed the biggest network just like ICICI. It has a huge network of branches PAN India and even in the smaller towns. Most of the traders who possess an account in the bank open a Demat or a trading account. They are known to offer efficient services such as advice on mutual funds’ investments, research desk, portfolio management service, etc.
9. Kotak Securities
This is another one of the Top 10 best stock brokers in India which has earned a good name in the financial services industry. They have their branches in a lot of big cities and they cater to a wide customer base. The online services they offer include a decent brokerage.
10. Reliance Money
Initially they were launched with a lot of bang. But later they lost all the sheen and a lot of questions are cropping up about the way they conduct business.