Trading stock market can be a very good experience if you are a good trader otherwise it might end up becoming a painfully unprofitable experience. So we recommend you go through our previous posts to understand the risk and learn how to analyse the market before suddenly jumping into stock trading.
A stockbroker is a registered representative who acts as a link between a buyer and a seller. Many experienced traders do mistakes while choosing brokers and they have no proper idea where to trade stocks so that they get a good service at low cost. when choosing a stockbroker you should look for a few things
- Fees: If you want to day trade always look for a broker who is charging low trade fees from you, otherwise you will end up losing lots of money on fees because of frequent order executions.
- Security: Try to register with brokers who are giving you advance security features like 2fa, device verification.
- Volume: Choose your country’s most popular brokers where lots of people are already trading, otherwise low volume platforms can give you slippage problems while executing high volume orders.
- Server Issue: If you have planned to do day trading especially when it comes to leverage trading you should always look for brokers who’s server response is very good during busy market hours, otherwise there are some brokers who used to face server issues during very busy market hours and that can cause big loss if your order does not execute because of server problem.
- User Interface: Always prefer brokers who have simple UI, and provides charting data to their site, it will help you to trade and analyse the market at the same time.
- Customer Service: Always look for brokers who have very active and great customer service.
List Of Some Good Online Stock Brokers
1. TD Ameritrade:
TD Ameritrade meets the needs of both active traders and beginner investors with quality trading platforms, $0 commissions on online stock, options and ETF trades and a large selection of mutual funds.
Free market research.
High-quality trading platforms.
No minimum deposit
Superb customer support.
Big investment selection.
Costly broker-assisted trades.
2. Interactive Brokers:
Interactive Brokers the best option for very frequent stock traders: The broker offers international trade executions, no commission and an excellent trading platform.
Large investment selection.
Effective market research and tools.
Above 4,300 no-transaction-fee mutual funds.
Inactivity fees on IBKR Pro
Fidelity is one of the most well rounded available today, with no commissions on stock, ETF or options trades and a selection of no-expense-ratio index funds.
Large selection of market research providers.
Powerful customer service.
Expense-ratio-free index funds.
Costly broker-assisted trade fee.
List of Stock Brokers for Indian Citizens
Zerodha is the first discount broker of India established in 2010, they have around 9.5lakh active clients
- Zero brokerage on delivery of stocks
- Referral program is there
- Excellent UI
- Lots of key features like kite web, varsity, coin app
- Long account opening time
- No research and tips
- Average customer service
- Server issues during highly volatile market movements
It is also another discount broker established in 2011, they have low brokerage and high margin available on their platform, currently, they have more than 1lakh active clients
- Excellent UI
- Low fees
- Good Server performance during busy market hours
- GTC (Good Till Cancelled) orders not available
3. ICICI Direct
This is an award-winning full-service broker & probably the best platform to hold your stocks if you do not care about high fees. If you are a trader then you may not like to trade on this platform because of high fees but for long term investments, this is one of the best full-service broker in India.
- Very Simple UI
- Excellent server response during busy market hours
- The most secure platform for stock investment
- Market research & tips available
- Very High Fees
- No Referral program
- Mobile app UI is too bad
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