Comparison of Best Online Discount Brokers in India with lowest brokerage charges, their Trading Platforms, Pricing and Other Features. Find the Cheapest Online Stock Brokers for your Share Trading. Get to know about Trading Strategies on Successful traders. Intraday trading Tips and Broker Research.
Compare Online Stock Brokers and best Discount stock Brokers
Compare Online discount brokers with Lowest brokerage rates. Find their best offers and choose the right partner. Look for Insightful Traders blog with practical information and knowledge about successful trading.
While trading in stock markets, you must have realised that brokerage forms a big part of your impact costs. Online Discount brokers in India like Zerodha, RKSV, MyValueTrade, TradeJini, TradeSmartOnline, SAS Online brings a solution to this. They offer much discounted rates with state of the art platform. Comparing full service broker with discount brokers, the only difference remains the value add like assisted trading or research reports. Some of the best brokers in India are compared here for making your trading profitable. Which brokers provide the lowest brokerage rates in India.
Full Service Brokers provides Research Reports based upon Fundamental and Technical Analysis. They also provide Intraday calls for Day Trading. We provide various information and strategies which we learnt from Successful traders in derivatives segment. Compare Online Stock Brokers and best Discount stock Brokers.
Various Brokers are Point by Point Compared here that includes Full Service Brokers like Motilal Oswal, Religare, India Infoline, Anand Rathi, Angel Broking, Kotak Securities, Sharekhan, Karvy and discount brokers like Zerodha, RKSV, TradeSmartOnline, MyValueTrade, TradeJini, SAS Online. This comparison are done on various parameters like brokerage charges, trading platform and Services. Also analysed Full Service Brokers vs Discount Brokers.
How IPOs are analysed, identifying midcap for investing, identification of shares for day trading, risk management while trading, Successful trading strategies of Successful derivatives traders and much more topics. The effort is towards to make you a better and balanced trader thus resulting in profitable investing.
When we think about investing or trading shares, we understand that it needs to be done Stock brokers which are members of stock exchanges like National Stock exchange or Bombay Stock Exchange. These stock brokers which acts as important conduits for roping in people or investors.
A stock brokers not only introduce a client to stock exchange but also transact and settle trade on the behalf of investor. A stock broker has come up curve from typical briefcase guy shouting in the pit in 1980x to tech savvy platforms presently. These stock brokers are of various types basis the service levels, presence, reach, trading platform and pedigree.
How to choose a stock broker..
As an individual, it is important to choose the right stock broker before entering the markets. The stock brokers may be selected only is we are more clear on our own requirements. Different Stock brokers operates in the markets with different USPs. Let us see what are these USPs.
Trading Platform
In the times where days are getting shorter, the online share trading has proven to be an important parameter. People opt for Online platform to not only save their time but also for convenience to operate. Trading terminals have also improved in last few years. Initially, it used to be typical web based html screen that refreshes every few minutes. Then people switched to exe file where an application get installed on computer. This application was not only faster but was equipped with better features. But now brokers have switched to HTML5 version. This has the features of exe software and advantage of logging in directly on net. So no need to carry your PC or laptop every where. Just access the broker website and start trading in an enriched software. These software are responsive which means that it adjusts to the size of the operating device.
Pedigree
The brokers with strong background offer better service mechanism basis their support from their other group companies. Like bank brokers integrate bank account and demat account seamlessly with trading account thus making it a 3 in 1 account which is very user friendly to operate. In companies, where banks offer salary account, brokers offer trading account as value add product at huge discount or free. In case of large brokers, they work out with services like Insurance distribution and mutual funds. Few of the brokers have also became point of presence of National Pension Scheme(NPS).
Leverage
Although brokers can provide max. leverage as per regulatory guidelines but still few brokers have made their niche in high leverage trades. The extra leverage in cash markets or limit against stock are some of the USPs which are very helpful for traders.
Pricing
While service quality and pricing go hand in hand. There are couple of brokers, also called as Full service brokers, which provides value add services like research reports, RM assistance, training programs and thus charge a higher brokerage rates. Another segment of Bank brokers, caters to masses and keep their rates on very higher levels. Again the selling proposition remains the linking with bank account and combo offer with saving bank account. IN last 3-5 years, discount brokers have also come up very speedily. These brokers charges rates which are far lower than any conventional brokers and cuts out all value adds. They provide online trading terminal with trading support. Their charging pattern remains as fixed per trade or fixed rates per month.
Algo trading
Some of the brokers like Zerodha and RKSV also provides terminal where one can try algo trading, also called as system trading. The terminal offers facility to build your own strategy and apply in the live markets. The rates charges for algo trading is same for any normal manual trade.
Service
It is important to understand that the brokers who you are giving your hard earned money, how much it may be relied upon. The complaint statistics on the exchange sites shows that how many complaints are pending against each broker. As such you will understand the quality of services.
Size of a brokers
It is again important to guage the size of brokers as a large size of clients indicate better service and higher safety. It is more safe to rely on a brokers already large in size or growing to be in business instead of small time brokers which could be fly by night operator. Also large of clients suggest a robust mechanism of execution and service. Large size of broker also ensure the reach at major locations where you may just walkin and get your work done. However, Online clubbed with call center also acts the same way where any issues may be resolved online or over the phone. The payment is done through online bank transfers.
But still the question is how to choose the best stock brokers
So it is your individual question has to be an individual answer. The selection purely depends upon your requirements and the skill levels. While entering the markets you need to execute small deals, a lot of guidance and definitely big support from your broker. Unfortunately, RM assistance is utmost required here however with very less revenues, there is very less chance for you to get the same. A good user interface with simplified user experience may solve your issue to certain extent. At a level when you become a lesser frequent investor and start investing in stock markets every now and then, it is the time when you need research reports about markets be it on economy, industry or any specific stock or scrip.
A broker with value add services like research and RM assistance will enable you to read and discuss more. Such discussions will improve your decision quality and let you take calls with more success factor. (Remember there is nothing like 100% accuracy in trading decisions). With increase in frequency and routine tracking of market, it becomes little easier to capture even small movement in markets or share prices. This is the time when investors become traders and captures even the small movements or daily fluctuations in markets.
There is always movement in stock prices due to several factors and as per DOW theory they are termed as Primary movements, Secondary movements and Daily fluctuations. Now, your investing or trading behaviour will ascertain your need for assistance, research and that defines the cost you pay for it. Definitely you have to pay more for getting better services.
Coming back to Broker selection, Primarily, there are two types of brokers i.e. Full service brokers and Discount brokers. Full Service brokers are the one that provide value add services along with Dealer or RM assistance. Their main source of income being brokerage, the cost of value adds given is added to the brokerage rates. Normally they charge brokerage as percentage of trading turnover or volumes. The brokerage charges for delivery based transactions are generally 10 times that of trading transactions. The average band of rates remains between 0.01% to 0.05% and for delivery transactions, it is 0.1% to 0.5%.
Discount brokers offers deep discounted rates for executing transactions through online share trading platform. The charge structure are fixed per trade or fixed per month. They charge such low rates as they do not provide any value adds and provide basic services and self operated platform and tools for trading. In a newer trends, few of the discount brokers now provide Free investing in Stock markets. This means no brokerage for executing delivery transactions. It is important to note that they charge 1 paisa per trade due to regulatory issues.
Best Brokers in India
Given the above description, we cannot have a single list of best brokers in India. This needs to be divided among various three parts namely Bank Brokers, Full Service Brokers and Discount Brokers. We have classify them as best just on the basis of my perception about them and it may vary as per your standards. In order to build my perception, I have studied their background, Trading Platform, Service approach and Pricing. The information collected was from various public sources like their websites, meeting or telephonic conversation with their RM or reading through blogs. The stated list should not be read in any specific order and should be seen in entirety.
Best Bank Brokers in India
ICICI Direct
ICICI Direct is a brand of ICICI Securities, which is a subsidiary of ICICI Bank. It is among the largest brokers in terms of number of clients. ICICI direct charges the brokerage rates which is among the highest in the industry however their user interface is excellent. The simplified user experience and presence of multiple investment products at one place in single window is their USP. Most of the beginners, especially those opening their salary or saving account with ICICI Bank, finds it easy to opt for their platform without any extra effort.
SBICAP Securities
SBICAP Securities or SBI Direct is a part of SBI Capital which is a subsidiary of State Bank of India. SBICap Securities is expanding fast and their clientele base is also increasing at very rapid pace. Similar to other banks, the focus here also remains to capture higher number of clients and provide seamless investing experience. The company provides an online platform along with Call n Trade model.
IDBI Paisabuilder
IDBI Direct, also known as IDBI paisabuilder, is a product from IDBI Securities. Promoted by IDBI bank, the broker emphasize on the user experience and also offer attractive rates for traders also. In certain segment, they compete with full service brokers. At IDBI direct, customers are also mapped with Relationship Managers
HDFC Securities
HDFC Securities, promoted by HDFC bank, is a premiere broking outfit in India. Just like other bank brokers, the 3-in-1 account is one of the strong selling proposition for them trading account is attached with Demat Account and Saving account of HDFC Bank. Along with the ease of trading, the comparatively lower brokerage rates makes it a broker of choice. Also, it is easier to manage and track portfolio of stocks with respect to current market prices.
AXIS Securities
Similar to other Banks, Axis Securities also offers 3 in 1 account that provides a combination of Savings Account and Demat account along with trading account. The entity promoted by Axis bank offers rates similar to other bank brokers and platform is also in line with the same.
Kotak Securities
Kotak Securities, now can be said as a bank broker when offering integrated services with Kotak bank. Kotak, traditionally was a broker and understand the business well. They provide various research reports, stock recommendations apart from online trading platform and mobile trading. Moreover their branch network makes it reach at every corner of the country.
Best Full Service Brokers in India
Religare
Reigare Securities is a subsidiary of Religare Enterprises Ltd. that facilitate trading in various exchanges like NSE, BSE, NCDEX and MCX apart from depository participants of NSDL and CDSL. Their presence spread across the country through branch and franchisee network. Also they provide both online share trading and mobile trading. They provide research reports and stock recommendations on daily, weekly and periodic basis. Also you may expect a RM mapped to your account for markets related discussion and services.
Motilal Oswal
Motilal Oswal is one of the leading broking house with its presence across India mostly through franchisee network. They are known for their ‘Solid research’. These reports includes economy, industry and stock specific reports on periodic basis. It provides Online Trading platform and mobile trading.
India Infoline
India Infoline is another successful full service broker that provide high end trading platform, research reports and RM assistance to their clients. The presence through own branches and franchisees spread across the length and breadth of the India makes them a reachable at all major cities and towns.
Geojit BNP Paribas
Geojit is a full service broker primarily with major footprints in the southern part of India. With stake from BNP Paribas bank, it became Geojit BNP Paribas. They are based out of Kerela and do not lag behind any one in terms of services or platform. Also they has an extensive research reports which enables their clients for smart investing in markets.
Sharekhan
Sharekhan popularly known as online broker also has a presence across the country. The sophisticated platform with excellent user interface remains the unique selling proposition for the broker. Also, they provide dealing and RM assistance to certain high value clients. Their Mobile trading is also very popular.
Best Discount Brokers in India
Zerodha
Zerodha is among the first discount brokers in India. They started the trend of fixed brokerage per trade with their extreme discounted rate offering of Rs. 20 per trade. They provide a multi-lingual trading platform and mobile trading with the brand names ‘Kite’ and ‘PI’ . In another first, Zerodha made all investments in markets at Zero charges. This means no brokerage for delivery trades. In another USP, Zerodha has a 60-day challenge, where they refund brokerage if a client makes a profit in given 60 days of trading.
RKSV
It is another discount broker, that offers the rate of Rs. 20 per trade. Apart from this they have fixed charges plan for monthly basis for unlimited trading in equities, commodities currency. Following Zerodha, they also started offering Zero brokerage trading for delivery transactions.
SAS Online
SAS Online is a Delhi based broker which is started by traders. They offer trading at extremely low rates of Rs. 9 per trade. Also they offer a monthly trading plan of Rs. 999 for unlimited trading.
MyValueTrade
MyValueTrade is another discount broker that charges just Rs.10 per trade. Also they offer unlimited trading at Rs. 1000. They provide a online trading platform along with mobile trading. The back office services are also provided online.
TradeJini
TradeJini is a Bangalore based discount broking house that offer services at Rs. 20 per trade. They charge Rs. 20 per trade extra, if it is executed through the phone trading. Apart from trading platform and back office, they also provide mobile trading for their clients.
Important point to see is that where bank brokers provides a simplified user interface for all investments and 3-in-1 account, full service brokers emphasize on research services. Discount brokers are the breed that mainly targets the trader and keeps the play around cheaper or deep discounted brokerage rates.
If you are still wondering for more details, please provide your contact number and we can share the same with couple of brokers. After understanding their offering, you may decide your right companion for venturing into the markets.
