Tuesday, 23 July 2013
Top 10 stock brokers in India
Lately people have a lot of option while choosing a stock broker because of increase in number of stock broker in India. But still it is not easy to choose the best one. You need to be sure of what is important for you before deciding on the stock broker. Some pointers to keep in mind are
1) Full service or discount broker : The main difference among them is full service would allow you to trade in all financial instrument while discount broker will generally allow you to trade in one financial instrument (Stock, commodity) .
2)Online trading vs Phone trading: Depending on how comfortable you are with online trading,if you are not choose a broker which provide you phone trading.
3) How often do you trade : Decide if you are going to trade or invest that is, will you be trading often or you will just buy stock couple of time a year in which case the brokerage is less important than if you are a trader.
4) Will you require advice : Would you need financial adviser to trade or would you be trading on your own. If you need adviser, remember to get some historical data of how good the adviser is and would you be comfortable with giving him your money.
Top 10 Brokers in India :
ICICI Direct : By far the biggest and most well know stock broker in India. You can find my detailed review about ICICI Direct here. They have decent service and easy to use interface but there brokerage is really high. Great for investor but not for tarder.
Sharekhan : Incorporated in February 2000, Sharekhan is India’s 2nd largest stock broker providing brokerage services through its online trading website Sharekhan.com and 1950 Share shops which includes branches & Franchises in more than 575 cities across India. You can find my detailed review for Sharekhan here.
Karvy : There are the old age broker which is still there. They are the brokers which you fathers used to use but there online service are not that great. You can detailed information about them here.
Zerodha : They are the newest stock broker in India which have started discount trading in India. They have a very competitive brokerage structure and decent customer service. You can find detailed review about Zerodha here.
HDFC Security: They are one of the oldest broker in India and with there name attached with one of the biggest bank in India. They have a vast network of bank branch in even smaller town. You can find detailed review about HDFC security here.
Kotak Security : They are one more well know name in Financial services and with there bank branches in big cities they are able to cater to clients in big cities. There online service is decent but brokerage is not that competitive. You can find detailed review about Kotak Security here.
Reliance Money: They came with a bang but lately have lost a lot of sheen from there name. There have been lots of question about there business practices. You can find detailed review about reliance money here.
Motilal Oswal : One of the older stock broker in India which have changed with time are now providing good online service. You can find detailed review about Motilal Oswal here.