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Top 10 online trading accounts for beginners in India

Top 10 online trading accounts for beginners in India

TOP 10 ONLINE TRADING ACCOUNTS FOR BEGINNERS IN INDIA

The 2 share markets i.e. National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) and the sole commodities market of the country i.e. Multi Commodities Exchange (MCX) provide wonderful opportunities for investors for getting rich quickly.

The trend of investing in the stocks and mutual funds is growing at very fast pace in the country all thanks to the rapid growth of the economy and future projections along with stable political environments.

Stock Trading in the country

You may trade with stocks in India directly through an online account with a wonderful brokerage for dealing in stocks and shares for you.

Generally, stock brokers assign a sub broker who trades in stocks and shares on the behalf of the other investor and you for making sure that you get maximum profits for your investment.

Thus, you will have to open a trading account which is also called “Dematerialised Account” with a good bank. You may open a Dematerialised Account with the bank.

Under the current laws of SEBI which helps in regulating stock trading and NSE and BSE, people can’t buy and sell stocks directly at these 2 exchanges.

Thus, for investing in stock market, you need a trading account with the stock broker.

Opening a brokerage account
There are mainly 2 ways to open a brokerage account

Online– you may visit the website of the stock brokerage firm, complete all your eKYC formalities and then simply deposit the money in that account. The details of bank account through which you will trade also need to be submitted with the brokerage firm. This account is known as your stock trading account.

Offline– you will have to visit the bank or the non-banking financial institution which offers stock broking services, complete all the KYC formalities and bank details from where you would fund the trading account. This will be your trading account in this case.

Top 10 online trading accounts for beginners in India

Below are the Top 10 online trading accounts for beginners in India.

India has 2 main types of brokerages i.e. Discount brokerage and full service brokerage

Full service brokers offer a couple of benefits. They provide investment advice and full range of stock trading like commodities, stocks and currencies. The Full service brokers operate from multiple locations in the country and they have a well-qualified staff for providing investment and advisory services.

They charge a fee on the basis of your profits.

  1. India Infoline Finance Ltd (IIFL)
    This is one of the Top 10 online trading accounts for beginners in India. IIFL is the member of NSE and BSE. The company has been registered with the National Securities Depository Ltd and the Central Depository Services India Ltd. IIFL offers stock broking services in cash, currency and derivatives through the offline and the online stock trading platforms.

This is one of the first Indian brokers which hold membership with the Colombo Stock Exchange and it’s also one of the first few Indian brokers who have an in principal approval of membership of Singapore Stock Exchange.

indiabulls

2. Indiabulls Ventures Ltd

The next stock broker in the list of Top 10 online trading accounts for beginners in India is Indiabulls Ventures ltd. It is one of the top capital market firms of the country offering commodities, securities and currency stock broking services.

 

Commodities services are offered by Indiabulls Commodities ltd. Indiabulls has also been listed on NSE, BSE and Luxembourg Stock Exchange.

3. Karvy Stock Broking Ltd

Karvy Stock Broking Ltd is the broking wing of the Karvy Group. KSBL or Karvy Stock Broking Limited ranks as one of the top financial services company. It has nationwide network of stock broking companies.
It has the combined trading account facility which caters to all the opportunities of investment like trade in currency, equities, derivatives, IPOs, mutual funds, etc.

4. Reliance Securities Ltd

Reliance Securities Limited is the broking wing of Reliance Capital. RSL provides the whole range of stock broking services like derivatives, equities, currency, mutual funds, IPOs, bonds, etc.

5. Sharekhan
Sharekhan is a part of BNP Paribas. It ranks amongst the few stock brokers who provide online stock trading in the country.

As per the site of the organization, Sharekhan has a client base of 1.6 million speculators, 153 or more branches and 2400 or more business accomplices which are spread crosswise over 575 areas.

6. ICICI Direct

ICICI Direct is a part of ICICI Securities Limited and functions in collaboration with eponymous privatised bank.
This stock broking firm offers online stock trading account for the customers for dealing with stock market, currency, derivatives, commodities and the other financial tools available through NSE, BSE and MCX.

7. HDFC Securities Ltd
HDFC Securities Limited is NBFC which operates through HDFC Bank which is one India’s top privatised bank.

hdfc securities ltd

You may avail the wide spectrum of stock broking services with the help of HDFC Securities Limited like investing in gold, equity, debt, derivatives, real estate, mutual funds, insurance, fixed deposits, currency derivatives, etc.
HDFC Securities provides the option of trading through different platforms including mobile, online, telephone, etc.

8. SBICAP Securities Ltd
SBICAP Securities Limited (SSL) is a part of the SBI Group and owned wholly by SBI Capital Markets Limited.
The website of the company states, SBICAP Securities Limited caters to a wide range of clients including financial institutions, banks, corporate sector, mutual funds, non-resident Indians, high net worth individuals, etc.

9. Kotak Securities Limited
Kotak Securities is an NBFC of Kotak Mahindra bank. It has Rs. 153 billion worth of AUM (Assets Under Management) as on 31st March, 2017. Kotak Securities Limited has more than 1.36 million customer accounts conducting more than 500,000 trades in a year. It has 1281 branches, satellite offices and franchises in more than 377 cities across the country.
It is the corporate member of NSE and BSE and DP with NSDL (National Securities Depository Limited) and CDSL (Central Depository Services Limited.

10. Motilal Oswal Investment Services
Motilal Oswal Investment Services is also amongst the Top 10 online trading accounts for beginners in India. It has won a number of prestigious awards for its stock trading services. It has an experience of more than 30 years in wealth creation which has benefitted millions of Indians.

may avail the wide spectrum of stock broking services with the help of HDFC Securities Limited like investing in gold, equity, debt, derivatives, real estate, mutual funds, insurance, fixed deposits, currency derivatives, etc.
HDFC Securities provides the option of trading through different platforms including mobile, online, telephone, etc.