In the last few years there has been a considerable rise in the size and volume of business done by multiple brokers pan country. In addition to this Indian Broking industry is among the top growing sector when it comes to financial domain. In the recent times there has been more than 150 + stock brokers Pan Country who have a nationwide presence and they offer different plan and products thus placing them in the top 10 stock brokers. If you are looking for the best, updated and reliable list of brokers than your search ends right here.
With The Bombay Stock Exchange being established in 1875, is Asia’s first stock exchange and world’s 11th largest stock exchange. When BSE started it had just 22 stock brokers and now there are more than 2000+ stock brokers registered with BSE & NSE (National Stock Exchange). NSE established in 1992 is the 1st demutualized exchange and it was set up by the country’s leading financial institutions at the behest of the Government of India. BSE was set up with the mind to keep and bring transparency in the in the Indian capital market. So, while picking up the best and updated names of the leading stock brokers in the country there are variety of parameters that need to be followed which include:
- Brokerage/Commission fee
- Customer support
- Company creditability
- Market tips/research reports
- Existing client base
- Product offering
- Trading platform
- Market advisory
- Leverage and exposure
- Nationwide presence and many more
Things to ask before zeroing on the right broker
Before you make a choice what matters to a customer are few things which will help him/her to make a right choice?
Whether you are a trader or an investor?
This is a basic question which helps in deciding the basic fundamentals of trading. In the world of trading if you are looking for making quick profits and want results in minutes and hours than trading is the right thing for you. In other words you are basically a trader and you will be making more number of transactions as compared to an investor. On the other side if you are looking to put more money in the market on some trusted stocks and hold them for a longer period of time which can be for an instance 6 months, 2 years, 5 years and so on than you are an investor.
As a Potential Investor or a trader what shall you look in your stockbroker?
Irrespective of you being an investor or a trader you will have certain expectations from your stockbroker and if especially you are looking forward to open an account with a top broker than there may be many such as:
- Right brokerage charges
- High performance trading platforms
- Nil or pretty low account opening /annual maintenance charges
- Wide range of trading and investment products
- Reliable customer support
- Country wide offline presence with sub broker and franchise network
- Accurate and well researched market tips
- Time to Time Investment education programs
- Well integrated trading and bank account
- Hassle free fund transfers
Check credibility of the Share Broking Company
It is advised to both investors and traders that do not get swayed away the marketing campaigns and the branding of any share trading company and rather have a detailed and thorough check before making the right choice.
- Check SEBI’s website to read through the profiles of some of the reputed share trading companies.
- Connect and speak to already existing investors and traders about thier experience and dealing with their stock broking co’s
- Give a detailed look at the stock broking firms offerings, trading platform, reviews, customer support etc.
- Do an extensive research online about the stock broking firms feedbacks and customer reviews and many times you get right idea from multiple customer reviews what is the firm exactly like.
- Also look at the firms last 2-3 years performance and how it has been like.
Here is the list of few Updated & Reliable list of brokers
- ICICI Direct
- Share Khan
- HDFC Securities
- Axis Securities
- Kotak Securities
- Angel Broking
- Motilal Oswal
- India Infoline
Once doing ample of research and made up your mind you may think of opening an account with the above mentioned or may be your own researched broker whom you think would be profitable for you.