Tips to Find Best Stock Broker in India

 

The first step for any individual towards the world of investing in India is to find the best broker in India for oneself. You need to have a Demat and a trading account if you wish to start investing, which is not possible if you miss on having a stock broker selected. Selecting a broker means that you are taking up the brokerage services from your stock broker. Hence, selecting the best stock broker in India is aligned with the investment goals and potential of the investor.

When selecting a stock broker for yourself for the very first time, always keep in mind that the first broker you select might not continue to be your stock broker for the rest of your life. You can switch from one stock broker to another if you find someone else to be the best stock broker for you. This is also essential because selecting a bad broker can ruin your investing experience for the rest of your life.

There are various good brokers in India. You can, however, make a list of the top 10 stock brokers in India and then select the best stock broker for yourself.

Here are some tips and tricks that will help you find the best stock broker in India:

Select the type of broker: There are two types of broker in India, i.e., full-service broker and discount broker. Before selecting the best stock broker, you first need to analyze what you are looking for a full-service broker or a discount broker.

Research: Once you have found out what type of a stock broker you are looking for, you need to conduct your research. You can take insights and advice from experienced traders and investors but should not trust them blindly when selecting the best stock broker for yourself. Carry out your in-depth research and then decide.

Background and reputation check of the broker: Suppose you have made a list of top 10 stock brokers in India, you need to conduct a background and reputation check of the brokers you are interested in opening an account with. It would be best if you looked for the reviews and complaints regarding the brokers in your list to find the best stock broker in India for you.

Brokerage and other charges: When selecting the best stock broker in India for yourself, you should have a thorough look at the brokerage and other charges charged by them. You can compare the brokerage and other charges levied by different stock brokers to find the best stock broker for yourself.

Other Facilities: After you have compared the brokerage and other charges that different stock brokers in India are charging, you need to look at the other services and facilities that they are offering. As an investor/trader you should look at facilities like customer services, trading platforms, advisory and research facilities, fund transfer facilities, and hidden charges (if any) being charged to find the best stock broker in India.