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Which broker should I choose ?


Date: 21 Jul 2016   Posted By: DHAMMADIP NARWADE     Group: Finance and Investments    Category: Stock Market   

I am searching for a broker having minimum brokerage, minimum deposit amount and user friendly platform or app.
Give me idea about which broker should I choose?
Can you give basic idea of stock commodity and currency market?
What is the difference between discount brokers and service broker?
Awaiting advice.


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Author: Mahesh    22 Jul 2016      Member Level: Gold     Points : 3  (Rs 3)    Voting Score: 0

Most of the brokers out there have the very good competitive prices. So you are not losing anything these days even if you select randomly. Only issue is the customer service and other after sales services. Here are some of the companies which I have shortlisted while choosing one for myself.

1. Zeroda
2. Fundsindia
3. ICICI Direct
4. Sharekhan

You may find prices for the transaction pretty much same from these brokers. If you find it more comfortable to use either one of them from the list. You can choose the one that suits your needs.

Fundsindia has some specific charges just like ICICI direct. But the dashboard is much better with the fundsindia. So I'd say this company is better. I have mutual funds account with fundsindia and broker account with ICICI. I may switch if zeroda and sharekhan improved their services.

Stock market - you buy low and sell high depending on how market works and the conditions. Same goes with currency. However the currency market is more risky with changes in pricing within few hours of trades.

Discount broker charges money on transaction basis and does not offer financial advice. In case of service broker, they give you financial advice and you have to pay for that along with your purchases. The brokers from above list can be shown as either service or discount broker.





Author: Swagatika Pattanaik    23 Jul 2016      Member Level: Gold     Points : 2  (Rs 2)    Voting Score: 0


Brokers having minimum brokerage
Zerodha, samco,are brokers who offer you Rs20 per trade ( they do not charge you extra even you put big quantity in single trade).
Aliceblue India has zero brokerage charge by paying some particular fees for an year.
Minimum deposit does not an issue, as you can start trading with RS 1,000 also. Brokers never force you to deposit more money, it is up to the investor or trader.

Which broker you should choose?
It is purely dependent upon you, what type of service you required, what type of trader are you and after analysing choose the broker suitable to you.

Trading idea.
In simple word buying at lower level and selling at higher level bring you the profit.
Equity trading ( this is about to own a company share and can be hold until you want to sell).
Commodity and currency is a future market so you can hold this position till the expiry date ( and before the expiry date you need to close your position whether you are making profit or loss).
Discount broker offer you less brokerage .
Because they do not office every where, client needs to operate everything on own, and should be online, if you want to trade through them they will charge some extra rupees ( call and trade charge).
Service broker is someone, who open a branch in particular city and provide all services like payin, payout, placing order. Updating client about the margin money, excessive use of margin etc.





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