Trading in stock markets requires you to be cautious, diligent as well as circumspect of both macro as well microeconomic factors that can impact the stock market. Stock brokers definitely play a key role getting you on-board and then carry out the transactions and that is why selecting a stockbroker is a vital decision for trading.
Indian stock brokers are of 2 types – Full-Service Brokers and Discount Brokers.
While full-service stock brokers provide all kinds of research reports, Intra-day tips, quarterly or yearly results and more, discount brokers propose much lower commission as they do not provide any kinds of recommendations or tips to their customers.
Their major goal is to a higher number of transactions as they charge a specific fee on each transaction irrespective of the monetary size of the transaction. Discount stock brokers charge you INR 8 to INR 20 per executed order and provide you with a trading infrastructure in return.
We are also reviewing these discount brokers by research, customer interviews and feedbacks one by one. For the ones already reviewed, there is a link added along. You can click and have a detailed understanding of that particular discount broker.
Here are have listed down the comparison of differentdiscount stock brokers in India.
As shown in the table above, there are different discount stock brokers available in the market with varied account opening charges, annual maintenance fees and brokerage per trade along with the rating given to them by their customers in the past.
Apart from the monetary aspect, the kind of trading platforms provided by each discount stock broker also holds an important vitality since you as a trader will be trading on a regular basis using that software. Since it is difficult to quantify the quality of the trading platforms, go ahead and check out the stock brokers on the list.
We have a detailed review available for each of them with information on their trading platforms, customer service, research and more.
There is one more thing we would like to add. Discount brokers majorly orchestrate through online channels and have a minimal physical presence. So if you are looking for aspects such as relationship managers, getting recommendations from the research people – that seems difficult to happen.
However, if you are somebody who is accustomed to the internet and are online savvy, then discount stock brokers are a must yes for you.
Next, we talk about Full-Service Stock brokers. As mentioned above, full-service stock brokers provide complete end to end service to their customers including valued research reports, quarterly results of different companies, intraday tips, IPOs expectations, Gold/Silver/Other commodity movements and more.
Thus, if you are somebody who needs an initial hand holding and doesn’t have much time to do the research on a daily basis by yourself – you should ideally start with a full-service stockbroker. Full-service stock brokers have a presence across different parts of the country and thus, are close to you physically so that if you need any help – you can talk to the stock broker’s partner or franchise in your city.
We are also reviewing these full-service brokers by research, customer interviews and feedbacks one by one. For the ones already reviewed, there is a link added along. You can click and have a detailed understanding of that particular full-service stockbroker. We have listed some of India’s full-service stock brokers in the table below.
If you wish to open a demat account with any stock broker, there will be some documentation you will need to take care of. We have listed down those for you:
PAN Card (Mandatory as per NSDL)
Address proof – you can submit any of the following documents as an address proof:
Voter ID Card
If you wish to open a demat account with any particular stock broker or have any queries, feel free to let us know in the comments below – our technical team will be more than happy to help you in making the decision.
In case, you have had any experience with any of the stock brokers above, feel free to share with us in the comments below so that other users can learn from your experience.
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