Before you choose one the the broker, it make sense to see which are the top 5 stock broker in India. The following top online brokers offer investors the most value for their portfolios. Some Indian online stock brokers are known for their award winning customer service while others are known for inexpensive stock trades or powerful trading tools. This post will tell you about the five best stock broker in India now based on above mentioned product.
ICICI Direct : This is by far the biggest stock broker in India. They were the first one to provide online brokerage in India way back in 2000 and with there integration with ICICI bank, they soon became the market leader. They have a good customer service and there is software is also easy to easy. But there brokerage is on very high side and lately all trader have moved away from them. It is still good for investor, that is someone who don’t trade often.You can find ICICI direct review here.
HDFC Bank : This is another full service broker which is very know. They also provide a good integration with the bank. But being a full service broker there brokerage is also on the high side. You can review full review on HDFC security here.
Karvy : This is one of the lesser know broker but it has one of the largest customer base. It is a no frills brokers providing people access to talk to someone in office. They have lots of office in India and they are one of the biggest player in Indian IPO market. You can find more information about Karvy brokerage here.
Zerodha : This is one of the newest entrant in India but it has taken over the Indian market with a storm. They have a very competitive brokerage structure but you won’t be able to go and talk to them ever. There whole work is done online from account opening to account closing. You can find detailed review of Zerodha here.
Sharekhan/Indiabulls : These are also two of more well know brokers in India. They are somewhere in between a full service broker and a discount broker. Being just a stock broker, they provide decent brokerage structure and customer service. You can find detailed review of these broker here.
Tips for Comparing Brokers
When choosing your online broker, here are some great tips to remember to help you decide:
1. Narrow down a list of what is most important to you - Just like when shopping for a new home, making a focus list of wants will help you separate choices to ultimately make a decision. For an investor that travels often for example, mobile trading will be more important than the cost of placing trades or if you are investor and not a trader, brokerage charge is not that important compared to maybe customer service.
2. Choose a that is well known read reviews online- Larger, established online brokers almost always offer more features, trade tools, better customer service, etc. Some brokers have millions of clients and these are the ones that almost always deliver a high quality experience for clients. Try not to choose small broker because there have been instance of broker closing overnight while taking all the client money with them.
3. Be aware of extra fees - Be conscious of what fees the broker is charging. I do not recommend any smaller brokers on this site specifically for this reason. There are usually many hidden fees that are only found by digging through the broker website. So be aware of other fees like annual