Tips for selecting the best stock broker in India

Stockbrokers act as middlemen who help individual Investors and traders by helping them with the process of buying and selling stocks traded on the primary and secondary stock market. They provide various services that help make the process of stock market investing hassle-free and easy. Investors in the 21st century have to fulfill various pre-requisites before they start investing in stock market securities. These pre-requisites may include the opening of a demand account and getting themselves registered with a regulatory authority like SEBI. Moreover, an individual may not have the requisite knowledge and skill to select the best stock which can provide him or her sufficient amount of returns.

Various individuals Stockbrokers provide various services to individual investors and even corporate bodies. Moreover, with the advent of the Internet, various online stock broking firms have taken over the stock market investment industry. Stock broking firms have taken their operations online which has made the stock market investment process convenient. Therefore it becomes essential to select the best stockbroker or stop brokerage firm. Top 10 Stock Brokers in India are ranked based on their services and customer reviews. Selecting the best stockbroker according to one’s preferences requires identification of individual needs and various services that the stockbroker provides. Therefore before selecting a stockbroker and individual must consider following prerequisites are services provided by them:

  • Various types of brokerage plans:

Stockbrokers in the modern times have started to provide various types of brokerage plans including zero brokerage plans. Such plans have completely revolutionized the process of stock market investment. Under zero brokerage plans, an individual investor can invest in any number of securities by paying a lump sum amount monthly or yearly. This concept has brought down the overall cost of stock market investment. Stockbrokers have started to provide various other types of brokerage plans which have benefited investors to a great extent. An investor must identify the plans which stockbrokers provide and select the best according to one’s preferences.

  • Brokerage rates:

The brokerage rates charged by stockbrokers may vary from one company to another. Full-time service brokers may charge according to the value of trade i.e. on a commission basis. Discount brokers, on the other hand, may charge according to flat rate basis i.e. based on the volume of trade. Various companies also charge using monthly, quarterly and yearly plans. Individual investors and corporate bodies have to decide the best stock broker by evaluating one’s own needs and volume of trade. Moreover, a stockbroker with a lower amount of brokerage is preferred than full-time service brokers.

  • Provision of services and facilities:

A stockbroker must also provide various types of services and facilities which an individual investor may need from time to time. These services may include the provision of market information and assisting in buying and selling of stock market securities. An individual investor must compare and decide the best stockbroker who can provide the necessary services at lower brokerage rates.

One can find a list of Top 10 Stock Brokers in India online which can help in selecting the best stockbroker according to one’s needs and preferences.

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