When thinking about trading in stocks, it is essential to choose a broker based on track record. This is because stock trading isn't about predicting what happens next, but working with a system that can give you an edge.
Among the notable stock brokers in India with a track record of quality service are Wisdom Capital, Samco, Fyers, RKSV, SSA Online, and Zerodha. According to research, Wisdom Capital is the best whereas Zerodha comes second to any beginners as well as expert trading.
Wisdom Capital is an Indian based financial services firm that offers brokerage-free real-time investments, institutional and retail brokerage, commodities, currencies, mutual funds and trading. The firm strives to design and implement flexible plans at a zero brokerage fee. Most notable is its online platform, where new traders can register. Zerodha has also applied the same principle and has a physical presence that can be felt in all the major towns in India. As of 2017, Wisdom Capital is the largest and the best discount broker in India.
As a stockbroker, Wisdom Capital has more than 250 franchise networks that support automated trading in BSE and NSE. It offers free trading and Demat accounts without any hidden costs. The company covers its clients, whether it is through email, toll-free lines and live chat. Furthermore, the company has three software (ODIN, NEST & NOW) that offers clients a platform for convenient free trading.
With Wisdom Capital, the client can leverage up to 20 times in MCX Derivatives, 40 times in cash and 20 times in NSE. The broker also facilitates trading in precious metals and agricultural commodities. Also, through its Wisdom Capital Training School, it trains beginners on how to invest in the financial markets.
Zerodha is India's first brokerage firm to adopt an operational model that exempts clients from any charges on transactions and trades. The model favors those who are involved in massive futures and options provisions. What they have done is to charge a flat rate fee that does not exceed Rs: 20. This rate applies to all trades, regardless of its size.
Other discount brokers have introduced equity investment or delivery trading for free.
After Wisdom Capital came into play, several discount brokers like Upstox, SASOnline, Traderjini, and Fyres among others have come up with offers meant to entice stock traders to seek their services. However, the best brokerage firm should not only make a broker the best, but should offer the best platform for traders, excellent customer support, proper management and data-based reporting, and user-friendly online chatting etc.
Based on the above points, Wisdom Capital and Zerodha are the best online stock brokers in India. They are the pioneers of the discounted brokering idea in India and remains the largest and the most successful brokerage firms regarding the Number of active clients. Moreover, Wisdom Capital is known to create intuitive and advanced online trading platforms as well as transparency.
More than 3.5 million plus clients have demonstrated their faith in Wisdom Capital, with 5% daily retails in trade recorded across MCX, NSE, and BSE.
Price: The Company’s pricing structure is a simple and unbeatable zero pricing model. Direct mutual funds and equity are free. The Maximum Rs. 20 is applicable all day, commodity and currencies are traded across MCX, BSE and NSE. On top of that, transactions and other charges are low.
The Annual Maintenance Charge (AMC) is only Rs.300.
When trading in stocks with Wisdom Capital, all stock investments are free of charge. Rs.20 is a fee charged on the execution of an order for options, Currencies and Commodities.
* Mutual fund investment & Equity are charged Zero Brokerage.
* Commodity Trading and F&O are charged a flat rate of Rs. 20 per order.
To summarize, Wisdom Capital is the best in the industry followed by Zerodha. Furthermore, all traders are advised to open an online trading account with the two stock brokers in India to enjoy the lowest cost of trading.