Now that you have decided to start trading in stock, it is important to choose the broker after proper research. The brokerage you pay can make a big difference in the return you make in the long run and most of the time, it is complicated to change the brokers once you have selected your broker. So do proper research before making you decision. Most of the information is available on the website and before finalizing contact the broker and confirm there brokerage structure because some of the details can change.
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.
The Share Brokers which I would be covering in this blog are :
1.) Kotak Mahindra
3.) Reliance Money
4.) Angel trading
5.) Share Khan
The points on which I would be comparing these brokers are on :
Brokerage
Ease of Use
Software or Net based
Day trading cut off time
Linking to the Bank
IPO /Mutual funds allowed
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.
I was expecting a bit more from this article. As a newbie trader in India, I would have liked to see comparisons between different gradient brokers (discount, market).