Wisdom Capital – Featured Discount Broker of India
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- Trade nifty in ₹ 5000/ lot, Trade Bank nifty in ₹ 4000/ lot .
- Best Mobile App in India – WISDOM PRO
If you plan to invest in the stock market India, you have to do it through best stock broker in india and the stock exchanges of India – two of the most prominent stock exchanges in India are National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). However, it’s not possible for a common man to buy the stocks directly from the exchange.
The common man requires middlemen to execute the trade. These middlemen are known as ‘stock brokers’. The stock brokers facilitate the selling and buying of stocks at the stock markets, on behalf of investors. There are many top class stock brokers in India through which you can trade in stocks.
Types of Stock Brokers
Brokers are categorized on the basis of the types of clients they serve. Some sub-categories of brokers are explained below.
- Institutional Stock Brokers
Institutional stock brokers provide stock broking services to large institutions and companies and trade in securities on behalf of them. Their services include advisory services, investment banking, securities services (IPO or secondary offerings), and brokerage services to institutional investors.
- Personal Stockbrokers
These are stockbrokers who offer brokerage services, investment banking and advisory services to small businesses and individual investors.
- Advisory Services (Advisors)
Stock Market brokers know the in and out of the stock trading business, thus, they can guide their clients regarding market trends, performance of stocks, and so on. They also have access to the data base and research findings of brokerage firms that they are associated with. Hence, they can provide brilliant investment advice to their clients.
- Limited banking services
Stock market brokers are even authorized to give limited banking services such as electronic deposits, interest-bearing accounts, and withdrawals. The clients can avail these services by paying a nominal brokerage charge to the stock brokers.
- Other Investments
Many stock brokers also deal in other products apart from stocks, such as securities, mutual funds, exchange traded funds, bonds, futures, options and commodity trading. They also give investment advice related to all these products, to their clients.
Stock brokers are adept professionals who are an integral part of the investment scenario of a country. Stock brokers not only facilitate the selling and buying of stocks from the stock exchanges on behalf of individual or institutional investors but also offer valuable investment consultation to their clients.
Services Provided by Stock brokers
Though the main function of stock brokers is facilitating the sale/purchase of stocks from the stock market, they also offer a gamut of other services to their clients such as:
Over three hundred stockbrokers registered with SEBI and different stock exchanges in India. 120 stock brokers are aligned with National Stock Exchange (NSE) as of 30th April 2020.
When you are on a lookout for the best stock broker, you must evaluate its total number of active clients.
Although it is not guaranteed that a firm with a large client base would offer better services, one can still be assured that a big stock brokerage firm won’t disappear or run out of business.
It is often seen that small stock brokers who are even registered with SEBI, don’t remain in the market for long. Many of these are either expelled out of the exchange or file bankruptcy.
A number of websites ranks the best stock brokers in India on the basis of factors such as customer reviews, brand value, efficiency of trading platforms, quality of customer services, facilities offered, grievance or complaint ratio, etc.
The Indian share market is a vast network having a wide range of stock market products. Its huge expanse makes it difficult to conclude which is the best stock broker in India. To do trading and investment effectively one needs a reliable broker. People are already seen taking keen interest in the trading sector. Why won’t they? One can best utilize their money by investing in the stocks instead of just keeping them in the bank account that hardly returns for sure. The increasing scope of trading has resulted into the penetration of miscellaneous brokers. It causes congestion and makes it difficult for the traders to get the top share broker in India.
Due to the fact that many stock broking companies are occupying large space in the broking industry, we felt the urge to come up with the list of best stock brokers in India. Choosing the best broker in India can help achieve the dream of accumulating the desired corpus.
There are various parameters on which you can gauge the competence of a stock broker, such as Online Security provided, Account Protection, Brokerage Charges, Portal features, and etc.
To find one Top stock broker who is best on all the parameters is very difficult. The decent range of all the features in one stock broker seems to be still opaque. To find out the best online stock broker in India, go through this whole post we have given below to help you out in searching the best stock brokers in India.
Also check our latest video about the broker offering 60 times Exposure
How to initiate while searching top brokerage firm in India?
First of all when consumers enter this sector, their sole purpose is to earn more and more. Therefore, you should be very cautious when selecting best stock broker. To select the best stock broker, you need to analyse your goals and what activity you want to do in stock trading. First, decide whether you want to be an investor, trader or gambler, and based on your orientation choose the right broker. Here are some of the things you must understand to make an appropriate choice.
SAVOR FEW TIPS FOR BEGINNERS TO STEP AHEAD IN THE STOCK MARKET
Are you an investor or a trader?
Before starting your search for brokers, take a while to assess why you want to buy stocks. You need to be sure about what’s most important to you in a trading platform. The answer will depend on your investment goals and where you are currently placed in your investment learning curve.
If you are a trader, you tend to trade on a daily basis and aspire to make quick profits (intraday trading – to be considered as the best example). Whereas, an investor would pick and choose the best stocks as per his/her research and remain invested in them for a certain time span to harvest the profit at the right time (Future and Options – to be considered as best example). In other words, you can get profit as quick as in minutes or days, when you behave like a trader while doing several transactions in a single day. But as an investor you buy stocks and wait for a period of more than 6 months to get the returns you were aiming for.
We are presenting the factors to be taken into account while being a trader or an investor.
|Profit and Loss||Need|
What to expect from a genuine stock broker?
As a lot of emphasis has been given on the importance of a good broker, here we are trying to highlight what all you should expect from a broker. After deciding the category you are in, it is the time to know the traits of best stock brokers in India, before you choose the right broker for yourself. Some of the expectations people keep with the best stock brokers in India include the following:
- Decent and customer-focused services.
The best stock brokers have PAN India presence as lots of their clients require offline assistance. Highly competent brokers have highly qualified research teams, who help providing company results, market reports, trend analysis, and trading tips to the customers on a timely basis as per the client’s portfolio and requirements.
- Education on investment and trading.
It is the duty of the stock broker to guide and educate its clients honestly. It is unethical to keep the client in the blind. In the long run trust-building reaps more benefits. The best stock brokers are considered reservoirs of knowledge about the nuances of trade in the industry. When client’s gain productive knowledge from the stock brokers, they become ambassadors for the stock brokers and spread a positive word-of-mouth.
- Brokerage charges that are reasonable.
It is a very important determinant to select your broker. Obviously you would want to pay reasonable or lesser brokerage charges. Stock brokers who charge obnoxiously high brokerage should automatically be eliminated from your list of favourite stock brokers.
- Fine extent of financial instruments.
The richer the variety of financial products the stock broker offers, the more lucrative it becomes for the clients to continue their services with them. The stock brokers should have a platter of investment options so that a good portfolio of the customer can be designed.
How to know if the stock broker is faithful?
It is possible to get carried away by the image a share trading company has created among the users. However, it is important to get deeper into the details of the stock broking company in order to know how trustworthy it is. Some of the factors to look for include customer reviews, remarks and the information on their website. Even the search reports they offer also give support to the clever observations.
These days, reviews of the customers can be easily seen online. Many customers share their first hand experience of the services offered by the broker on their websites. These reviews or feedbacks are very helpful in assessing the mettle of the stock broker. Many web aggregator portals are also available online on which you can compare various stock brokers and get insights of the market. It is not in your favour to deal with brokers who have a low rating and negative reviews as they tend to miss-sell. It is even better to get recommendations or referrals from your trust-worthy people. Faithful stock brokers have a good CRM system and they are institutes of knowledge on stock trading and investment.
Top 10 stock brokers in India
Here is the list of 10 best stock brokers in India:
- Wisdom capital
- ICICI Direct
- HDFC Securities
- India Infoline (IIFL)
- Motilal Oswal
- Angel Broking
- 5 Paisa
- Kotak Securities
Here is the list of 10 best stock brokers in India based on user ratings
List of Top 10 Stock Brokers In India
|S.No.||Broker Name||User Rating|
|5||India Infoline (IIFL)||4/5|
1. Wisdom Capital
This is the first online trading stock trading company and the best stock broker in India. It is also the first company to offer free trading opportunity to the traders. The 3 brokerage plans that are set by the firm have all the great benefits. The broker offers convenient pathway and easy navigation for the clients. One of the most killing features of Wisdom Capital is that the clients are not required to pay any advance payments or any extra rates on a monthly or even yearly basis. They are safe to trade in all the major stock exchanges in India without worry or fear. With a highly qualified team of experts, Wisdom Capital is able to provide client education and guide the customer about the latest trends of stock trading.
Sharekhan is among the oldest stock broking companies operating in India. The old horse boasts of having the working experience of 16 years in this esteemed sector. According to statistics, this brokerage firm has been ranked as the 2nd best stock broker of all time in the list of full time brokers. It has also established itself in 675 cities all over India. With such wide expanse it carries Pan India operations and thus, is a preferred choice for people seeking offline assistance as well. The company has several trading platforms for its clients and its charges range from 0.015% to 0.1%. These rates also vary according to the money margin scheme that the customer may choose.
Although ICICI has a great brand recall, the major challenge of this broking company is the high brokerage it charges. These charges that are collected from the customer can be understood as the brand premium due to the inherent trust factor the company enjoys. The company has two slab rates for charging brokerage i.e. 0.5% and 0.75%. Tools like trading platforms, seamless integration and share market tips are offered by the share broker. Owing to the service efficiency and feel good factor of dealing with a great brand, ICICI Direct emerges on the peak positions among the leading stock brokers in India. This brokerage division has over 2 million active users and boasts of having more than 200 branches in India.
4. HDFC Securities
HDFC Securities is the stock broking wing of the banking giant HDFC Ltd. It is among the few stock broking companies that offer 4-in-1 trading accounts. The colossal stock broker gives the opportunity to trade while providing helpful tips and reports. It has been in the arena for over 15 years now and in this time span it has opened around 200 branches all over India. This traditional stock broker in India charges 0.5% commission. The company is popular for the factual information on trends in the stock market it provides to its clients. Although, it is one of the biggest brands in the business, the high brokerage it charges belittles its importance.
5. India Infoline (IIFL)
India Infoline has always been among the best stock brokers in India. IIFL has ventured into a new segment as a discount broking house. This stock brokerage firm is more dominant in the Northern parts of the country and it also offers recommendations and tips to their customers as a part of stock market information. The company has been in the sector for long now. It gives its customers many alternatives to choose from when they are seeking best stock brokerage plans for themselves.
6. Motilal Oswal (MOSL)
This is among the largest network brokers in the stock trading sector of the great country of India. It has a diverse pallet and imparts multiple market product facilities like institutional broking, asset management, wealth management, investment banking, home finance, equities and commodity broking etc. to its clients. Motilal Oswal is also among the few 3-in-1 account providers and best share brokers in full time category. It tries to maintain trust in users by contributing some add-on products list, thus, its plans become highly customizable. There is a separate platform for clients of the share broker to ask questions and get the related results on trading issues. In this way the clients get real-time query handling experience.
This company is recognized as one of the leading discount broking companies operating in India. Zerodha was established in August 2010 and since then it is going strong. Today, the company is popular for its immense product innovations and decent digital initiatives. The share broker has literally changed the digital share trading business in India. Besides being one of the best share brokerage firms in India, Zerodha has different trading platforms to implement stock trading. It also provides guidance on share trading through some useful resources. Many stock trading experts share accolades for the firm. It has a rich customer education content base on its website which sincerely helps new investors. Thus, it has created a lot of trust for itself among investors and traders.
8. Angel Broking
Angel Broking is a full service share trading company that was set up many years ago in 1987. Over the years the company has amassed a heavy client base in India. It has a good regional presence in the country. It aids trading engine with best tools as it is equipped with attractive features such as multiple market watch, real time quotes, news feed that give predictions about the future of stock markets. The adept team of Angel broking also provides you well researched market reports, trends, tips, recommendations and research analysis etc. The company not only deals in stock but you can also trade in derivatives, currency trading, commodities, mutual funds, life insurance etc through this coveted platform. On the back of all these services, the broker makes its place among the best online stock brokers every year.
5Paisa is one of the chief discount stock brokers in India. Earlier, it had been a branch of IIFL but it became an independent individual entity soon thereafter. As the name indicates, it aims to operate on very low brokerage charges. Still there are many stock brokers who cater trading services on even lower brokerage rates than 5Paisa. The account opening fee is fine given the fact that first five trade transactions with 5Paisa are absolutely free of charge. Apart from this, the company provides various lucrative schemes to attract more and more traders. If you are looking for a low cost but effective stock broker then 5Paisa qualifies as one of the best stock brokers in India for you.
10. Kotak Securities
Kotak Securities is another stock broker that has a huge brand recall. One of the good features provided by this company is that you can open a 3-in-1 demat trading account with Kotak Securities. The trading platform offered by this company competes aggressively well with offerings of other top-notch traditional brokers. The overall performance of the broker can also be rated as ‘fine’. The company’s technology is latest and offers a highly user-friendly and transparent platform to its clients. In terms of services, Kotak Securities stands undoubtedly amongst the stock brokers operating in India, but when it comes to prices, Kotak Securities gets negative ratings.
Choosing the best stock broker in India may be a difficult thing in the starting as there is plethora of brokers competing in the country. Due to the plentiful brokerage companies which are already established in this industry, it makes it a tedious and ambiguous task. But it is very important to select the best broker on the basis of the above discussed parameters. The directory of brokers given above is a carefully selected list having top 10 stock brokers in India. This list certainly narrows down the number of brokers for you to choose from. The list is presented to inform you about the features that are found in the top stock brokers of India. All the top share brokers in India listed above are legit and offer the best trading services in India. When you plan to be a trader or investor or even a gambler in the stock arena, be well informed and be under the tutelage of an expert and trust worthy broker.
You can also read our other below articles
you can find your stock broker on NSE website by clicking here
best stock brokers in India
We have listed the Best stock brokers in India based on traders choice along with their rating and reviews