The points on which I would be comparing these brokers are on :
I will try to make clear these points some more for the newbie investor
Brokerage: This is one of the most imprtant thing which you should see before becoming a customer of any broker.This is one thing which will decide the amount of profit you are making and in the long run in trading beleive me that this will be one of the most important thing.
Ease of use : What is the type of user interface provided.Is some experince required or a novice can work on the same.This should be as simple as possibel for the effective use.
Software or Net (Applet) based :If you are one of those people who are doing the trading from the office from behind the firewall this thing becomes very important.Software is something which you have to install on the system and then only you can use it.Net based can be used from any where.
Day trading auto sqareoff time: For some one who is doing day trading this is also one of the important thing to remember because it can be one of the thing which will decide whether you trade is squared off at 2:45 or 3:15.
IPO /Mutual funds allowed :Is the broker providing only equity trading or also providing IPO/Mutual fund through the site.It always good for a retail investor to get all in one platform so it become easy for him to manage. Link to the bank: This will decide when you will get the money in your bank after it is received in your demat account and which are the bank through which you can link your account.