Ads Top

Choosing the Best Broker in India Today

Make money making trades on the market. Sounds simple enough but the reality is that if you choose the wrong broker, you could end up in the sink instead of making money. That said, you must take a look at the top brokers in India before you proceed further.

Top Indian brokers

The top brokers are Wisdom Capital, Zerodha, RKSV, SAS Online, and Trade Jini. Wisdom Capital is an automatic choice for most new traders because they offer free account opening and zero brokerage in all segments such as the NSE, BSE, MCX, and FNO. Zerodha takes a brokerage of Rs 20 or 0.01% (whichever is lower) and the account opening charge is Rs 200. These are discount brokers in the sense they will not cost as much as the full-service brokers. The full-service brokers will advise you on the type of investment to make but those who choose the discount brokers usually know what they do. They do not like any disturbance.

So, if you look for the Best Trading Platform you do not have to look far. But, let us compare a few more metrics. Number one is the reputation of the stockbroker. This, we have seen that Wisdom Capital is pretty rock solid as is Zerodha. RKSV Securities has a good to middling reputation while SAS Online and Trade Jini are good. Experience wise, Wisdom Capital has been around since 2013 and has done well. Zerodha is the number one by way of volume. It came into existence in 2010.

Type of investment you make

The big factor that determines the choice of the broker and trading platform is the nature of the investor. Is the investor a day trader? Will you make many trades during the day? Or, are you a long-term investor? For the day trader, the best choice of the broker will be one who charges low fees or a flat fee for every transaction. Also, will the broker offer you well-researched material that will help you make a profit from your trade? Zerodha does offer some material to its traders.

The more important thing for any trader when choosing the Best Trading Platform is the money involved. This is the account opening fee, maintenance fee, and transaction fee. As mentioned, Wisdom Capital is number one in this list. Traders like them for the low fees they charge. Zerodha takes Rs 300 as opening fees for the trading account. The AMC for this account is zero. Again, they take Rs 100 as opening fees for the Demat account. Wisdom Capital does not take any fee in these three categories.

Fee across the segments

The trading brokerage charges for Equity delivery Brokerage is zero for Zerodha and Rs 9 for Wisdom Capital. In fact, the charge across all the segments is Rs 9 for Wisdom Capital. This includes Equity Intraday Brokerage, Currency Futures Trading Brokerage, Equity Options Brokerage, and Equity Futures Brokerage. Zerodha charges Rs 20 for each of these segments.

When you choose your broker, you are committing your financial future to him. So, research the facilities first and make sure the trading platform is what you want.

No comments:

Powered by Blogger.