Trading in stock markets requires you to be cautious, diligent as well as circumspect of both macro as well microeconomic factors that can impact the stock market. Stockbrokers definitely play a key role getting you on-board and then carry out the transactions and that is why selecting a stockbroker is a vital decision for trading.
Indian stock brokers are of 2 types - Full-Service Brokers and Discount Brokers.
While full-service stock brokers provide all kinds of research reports, Intra-day tips, quarterly or yearly results and more, discount brokers propose much lower commission as they do not provide any kinds of recommendations or tips to their customers.
Their major goal is to a higher number of transactions as they charge a specific fee on each transaction irrespective of the monetary size of the transaction. Discount stock brokers charge you INR 8 to INR 20 per executed order and provide you with a trading infrastructure in return.
If you are a beginner or a small investor though, you can check out this detailed article on Best Demat Account for Beginners and Small Investors.
We are also reviewing these discount brokers by research, customer interviews and feedbacks one by one. For the ones already reviewed, there is a link added along. You can click and have a detailed understanding of that particular discount broker.
*AMC - Annual Maintenance Charges
As shown in the table above, there are different discount stock brokers available in the market with varied account opening charges, annual maintenance fees and brokerage per trade along with the rating given to them by their customers in the past.
Apart from the monetary aspect, the kind of trading platforms provided by each discount stock broker also holds an important vitality since you as a trader will be trading on a regular basis using that software. Since it is difficult to quantify the quality of the trading platforms, go ahead and check out the stock brokers on the list.
We have a detailed review available for each of them with information on their trading platforms, customer service, research and more.
There is one more thing we would like to add. Discount brokers majorly orchestrate through online channels and have a minimal physical presence. So if you are looking for aspects such as relationship managers, getting recommendations from the research people - that seems difficult to happen.
However, if you are somebody who is accustomed to the internet and are online savvy, then discount stock brokers are a must yes for you.
Next, we talk about Full-Service Stock brokers. As mentioned above, full-service stock brokers provide complete end to end service to their customers including valued research reports, quarterly results of different companies, intraday tips, IPOs expectations, Gold/Silver/Other commodity movements and more.
You can check the complete details about Stock Brokers in India here.