Top 10 Online Stock Brokers in India
A pattern has been noticed over the past few years and after analysing hundreds of data points, it has been observed that basically there are just 5 basic traits that the clients look for while selecting the right share broker from the list of Top 10 Online Stock Brokers in India.
Different types of stock brokers
You would be interested in knowing about the differences in stock brokers and types of investor or trader you are well before selecting a particular stock broker. The 2 main types of share brokers are full service stock brokers and discount stock brokers.
The discount stock brokers charge a much lower fee as compared to the full service stock brokers while offering minimum trade facilities at a low cost. This would usually let the investor and the trader to trust the stock broker for making real-time, fast decisions. Full service stock brokers offer multiple financial products and services apart from purchasing and selling the shared. A number of bank subsidiaries offering the clients with a Demat account, online trade facility and savings account. Above everything else, the full service stock broker would also offer well established personalised advice regarding the trends of the market.
Selecting the right share broker
While selecting the right share broker from amongst the 10 online stock brokers in India, you need to think of the below mentioned points.
Type of investors you are
Before selecting an India share broker you will have to ask yourself the question. In case you think that you are a trader you will have to invest within a very short span of time that could be a couple of hours or even a couple of minutes. Being a day trader you would like to take help of the stock broker who would offer you a flat transaction fee or a lower fee. It’s affiliated very closely with the discount stock brokers. Some of the most well established Indian stock brokers would provide you real time, important research platforms for a much lower fee with the discount stock brokers.
The other type of trader would purchase and hold the stocks for a long period of time. For such an investor and trader there’s a very strong need to find accurate data within a short span of time for making the best possible investment decisions. You will require a stock broker with who has an effective execution strategy and also the one who properly understands the long term market trends, values as well as the trading patterns. The Top 10 Online Stock Brokers in India are Zerodha, ICICIDirect.com, HDFC Securities, Sharekhan, Axis Direct, Angel Broking, Kotak Securities, Motilal Oswal, Karvy, and IIFL.
Reputation of the share broker
You can save some money as well as time by researching the reputation of the share brokers. You may browse through the websites of the share investment and SEBI for finding out the right share broker. By researching the reputation you would be able to find about any issues or complaints which exist against the stock broker or even browse their experience working with the traders and investors available in the stock market. Select a stock broker who’s extremely experienced and also has updated knowledge about the trends and inner workings of the stock market.
There’re different types of stock brokerage fee related to the stock brokers. This includes the transaction fee, account opening fees, maintenance fees, etc. You need to look for the low transaction fee in case you trade often and a very low fee for maintenance in case you hold the stocks for a very longer duration of time.
Market research and platform facilities
The brokerage fee is raising the capacity of utilising the advanced technology through the development of software as well as tools for market research. Operating the account with the share broker who has the required knowledge of such software as well as tools of market research would offer incentives for making timely as well as informed decisions in selecting the shares.
Wide range of facilities offered
Whether you’re looking to make investments in market funds or IPO you need to select the investor who lets you do so. Working in the form of a team is quite crucial for selecting the right stock broker for making the decisions with the finances.
Zerodha is the Bangalore based flat fee stock broker for trading in comodity, stock as well as currency derivatives. It charges stoc brokerage of Rs. 20 or .01% for every executed order(whichever is low) irrespective of the no. of shares or the price of these shares. Zerodha charges a maximum brokerage fee of Rs. 20 per order. It does not have any minimum stoc brokerage.
ICICIDirect.com is the retail trading services by ICICI Securities, which is one of the biggest retail share broking company in India providing a numebr of investment otions to institutional and retail customers. It is the part of the ICICI group and one of the best financial service providers providing banking and financial services. It offers online stock trading services to more than 20 lakh customers. ICICIDirect.com is a flagship website of the ICICI group. The website provides a whole of range of financial products like derivatives trading, online equity stock trading, mutual funds, fixed deposits, IPO, wealth products, loans against the securities, bonds, NCD, etc under one single lofin.
HDFC Securities is one of the 10 online stock brokers in India. HDFC Securities offers online trading and also trading through phone. HDFC Securities trade account has the unique 3 in 1 feature which integrates the HDFC Securities trade account with the current HDFC savings bank account and the current Demat account.
Established in Feb 2000, Sharekhan is one of the 10 online stock brokers India. It offers stock brokerage services through the online stock trading website Sharekhan.com and more than 1800 offices that include franchises and branches in more than 550 cities throughout India.
Established in the year 2005, Axis Securities is the subsidiary of Axis Bank. It offers stock broking services as well as financial products to the retail clients throughout India. It offers one single account to the customers for investing in Mutual Funds, Equity, Bonds, Derivatives, NCD, Fixed Deposits, etc.
Angel Group is one of the Top 10 Online Stock Brokers in India. Established in the year 1987, it has become the member of NSE, BSE and one of the top commodity exchanges of India i.e. MCX and NCDEX. Angel Broking has also been registered as the Depository Participant of CDSL.
Kotak Securities Limited is one of the top 10 online stock brokers in India and a subsidiary of the Kotak Mahindra bank which was established in the year 1994. They offer share broking services and also distributes the financial products of the country. They have about 1209 branches, satellite offices as well as franchises offering financial services to more than 11.95 lakh clients. They are the corporate member of the BSE and NSE. They are even the depository participant of the NSDL and CDSL.
Established in the year 1987, MOSL (Motilal Oswal Securities Limited) is based in Mumbai. It is a diversified financial products company. It offers trading services in commodity, equity, derivatives and currency. It even offers other financial products such as IPOs, mutual funds, fixed income instruments, insurance and gold. It has been recognised widely for the MOAMC portfolio management services. The PMS has got a very strong record as well as consistently outperforming benchmark across the cycles of the market since it has been incepted.
Established in the year 1990, the Karvy Share Broking Lmited is a part of the Karvy Group and one of the top 10 online stock brokers India. It is a leading financial instruments firm offering share broking as well as research advisory tools. They offer custom investment solutions to the corporate institutions as well as individual investors through a wide network of its branches and offices. Through their combines account facilities you can easily trade in derivatives, equity, and currency and also invest in mutual funds, IPO and NCD all less than one single roof.
IIFL (India Infoline)
Established in the year 1995, IIFL is one of the best 10 online stock brokers India. It is one of the fastest growing service providers of the country. It has been listed on the Bombay Stock Exchange as well as National Stock Exchange for trading in securities.
It offers a trading platform as well as a research based advice for the wide range of products and services like derivatives, shares, insurance, commodities, loans, bonds, Fixed Deposits, etc. Equity or Commodity broking and research is important for IIFL. It has a network of more than 4000 branches which are spread in more than 900 cities throughout India. It’s quite popular amongst the retail investors as well as traders.