We all are well aware that there are large numbers of brokerage firms working In the stock market under the scope of Indian stock exchanges. Not every brokerage firm is the right or the best one. Sometimes it becomes difficult to know which brokerage firm is to be selected, there are many factors that should be taken care of while selecting. In order to find out the best stock broker firm we must examine the discounting brokerage concept. The traditional or full – service brokers like: Angel broking, HDFC securities, Kotak securities impose a heavy amount of brokerage i.e. they like to go for discounting brokerage firms.
Stock brokers who provide the best services at convenient prices are given priority over others. There services set the standard for others to be the best broker in the stock market. In order to find out the best stock broker we must read in details their capabilities. Sometimes you have noticed that some full service brokerage companies have a large number of clients attached to them you cannot assume that they are also satisfied with their services so we cannot base our decision on large number of clientele, we have to examine their past performance and there compatibility with the market.
Qualities of best stock broker are as follows:
- Lowest cost of brokerage
- Provide higher margins
- Well organized
- Excellent planner
- Must be versatile
- Must be faithful
- Able to foresee future
- Can have access to market trends
These above listed are the qualities of the best Stock Brokers in India. In order to be the best of all one should possess all the qualities of a good stock broker, these are the factors from which we can also access the degree of compatibility of the stock brokers. To find out the best stock brokers we have to explore the stock broking companies too. Discount brokers are more preferred than others due to their low brokerage cost and more trade facilities provided.
Some of the best stock brokering companies are:
- Wisdom Capital: this firm is from one of the best stock brokers in India and its already trending in the market. This brokerage has low brokerage option along with the high margins.
Brokerage in products is divided into three plans i.e. Freedom plans, Pro plans, and Ultimate plans. Under freedom plans brokerage is almost 0.00%, in equities under pro plans it is 0.005% and under ultimate plans it is 0.007%. Margins in equity under ultimate plans are up to 60 times for intraday and 5 times for delivery.
- SAS online: this company is also one of the leading stock brokers in India, here the brokerage is even less than zerodha and is established a few years back.
- 5 Paisa: we already know about the large number of broking firms available in the stock market and this brokerage firm is also one of the best leading broker firms. It is the part of the (IIFL) has established a new structure of brokerage in the stock market.