Who does not want quick issue resolution, personalized communication, multiple modes of reach?
Customer service is one aspect that is generally neglected by users about its relevance or importance in the overall trading context. Users looking to open a demat or trading account generally look for aspects such as Brokerage, account opening fees, exposure, trading platforms and so on, which is correct in its own way.
However, customer service too is an important metric and must not be overlooked while you are making a choice for your broker.
Nonetheless, here are present 5 such stockbrokers that do a decent job in making sure users are completely satisfied with the resolution provided. Furthermore, the mode, turnaround time (TAT), professionalism showed in interactions is also well taken care of.
Generally, users expect full-service stockbrokers to provide much better customer service than the discount stockbroker, but in this compiled list we have listed out a couple of discount stockbrokers as well that have been reasonable in providing quick and efficient support to their clients.
Without further ado, here is the list of top stockbrokers in customer service in India:
India infoline or IIFL provides multiple communication channels including Toll-Free number, Email support, phone and more than 4000 sub-broker and franchise offices across different parts of India. Although medium to heavy traders get a much better quality of service and support, still beginners and small investors get to use relatively decent support from the full-service stockbroker.
Furthermore, the broker has recently started a “miss-call” service where you are required to give a missed call to a specific number based on your request type and correspondingly the support desk executive will be connected to you. Here is a snapshot of such phone numbers you can use to avail a specific service:
Sharekhan, although, is a premium stockbroker and charges pretty high brokerage but still provides great customer service. When it comes to communication channels, it has a wide count including Toll-free number, email, phone, web chat (intermittent channel) and more than 2200 sub-broker and franchise offices.
The best part of Sharekhan customer support is its well-designed training program for its support executives as well as support available in multiple languages. Thus, even though you prefer to talk in your regional language, your call will be transferred to an executive who can converse well in your preferred language. On normal days, the support is available for 11 hours a day starting 8 am till 7 pm in the evening. The broker is also available on 1st, 3rd and 5th Saturday of the month from 9:30 am to 4 pm.
You can also leave a query on the website itself and the support team gets back to you within 24 hours.
Finally, a lot of queries get answered through the FAQ (Frequently Asked Questions) section.
Although 5Paisa is a discount stock broker but is certainly placed way better than its peers when it comes to customer support and service. The broker has maintained a specific turnaround time (TAT) for different types of queries coming with multiple types of severities and priorities. Customer support, at the same time, adheres to these timelines to maintain the SLA.
When it comes to the number of communication channels, the discount broker is just available with email, Phone to go along with quick responses and resolutions across Social media channels as well as Google play store for the mobile app. This Thane-based stock broker also maintains a stock market blog where it tries to educate its user base with the basics and fundamentals of trading and investment to go along with its views on latest stock market happenings.
Another full-service stockbroker, Motilal Oswal provides a reasonable number of communication channels including Email, Phone and around 2200 sub-broker and franchise offices across different parts of India.
Users looking for offline as well as online assistance get resolutions within quick turnaround period (one of the quickest in the industry) with personalized forms of communication. In fact, Motilal Oswal recently launched an initiative called MO Genie where users can get automated responses to their queries and concerns at real-time level. It is basically an automated chat bot where users are provided with a specific set of instruction codes, using which, they can get quick responses, resolutions, reports etc without any human intervention.
Like other aspects, customer support also requires such technological advancements and Motilal Oswal seems to have taken such a move in that direction already.
A lot of readers might not be expecting Karvy Online to make the cut off of the top stockbrokers with best customer service, but the full-service stockbroker actually does a pretty good job in keep its clients satisfied through support. The broker has presence in around 400 cities through its franchise partners. Apart from that, users can get assistance through Email support, Phone, web portal and social media.
The broker has kept separate communication phone lines for NRI support, thereby, provide a sort of exclusive assistance to its clients based out of India. Overall, the messaging tone can be improved but still, the broker does a decent job overall. Karvy Online also has an ‘Ask the Expert’ feature where clients can directly interact with research experts online and get assistance across different streams of support.
So that is it, as far as the list of top stockbrokers in India is concerned when it comes to customer support. Just to re-iterate that customer service quality is an integral part of the values a stockbroker provides. And, you as a client, MUST certainly make sure you understand and know the level of service provided by the broker first hand. If you do not get decent customer support during your trading or investment days, you do stand a chance to lose out on critical and potentially profitable opportunities on the stock market.
Furthermore, if you need any assistance whatsoever, in finalizing a stockbroker for yourself or you need any advice on a recommended stockbroker, you can provide your preferences and details below: