With the increasing number of people trading in the stock market, the impulse for the stockbroking industry is also increasing. With their expertise and knowledge, the task of trading becomes so much easier. There are two types of broker full time and discount brokers. A discount broker is a registered brokerage firm who runs the activity of trading when the investor places trade orders at a discounted commission. In order to pass more and more benefits to the investors, these brokerage firms dispense their great discounts.
The discount Brokers offer their services at a much-reduced rate as compared to the full-time brokers. The tools and the products they provide have many good features like Indicators, charting features, real-time quotes, inbuilt scanners, brokerage calculators, historical data, market watch, etc. In order to trade in the stock market, one can find out the best discount broker in India on the basis of the above-written tools and products they provide the discounting rate that they charge.
The best Discount broking firm is the one which charges less of the brokerage and also provides the facility of remunerative margin funds. They must provide these services on convenient terms and conditions. While choosing the best discount broker one must check the following traits that the broker must exhibits.1) The Opening of the Demat account should be free. 2) The trading platform should exhibit technical efficacy.3) Provides the facility of Call and trading. 4) Provision of customer-related services 5) Provides full security to one’s personal data and shares. 6) Fund Transfers should be made quickly. 7) Ensures more Flexibility by the provision of more add on plans etc.
Here is the list of Top 10 Discount brokers in India who provides these services at reasonable discount rates and also ensures the above-written traits which makes them eligible for being in the top 10 discount brokers list.
- Wisdom Capital
- SAS Online
- Trade Smart Online
- 5 Paisa
- Trade Plus Online
- Trade Jini
These discount broking firms have excelled in their field by now. In order to multiply the investor’s profits in the stock market, they provide their expert knowledge and unbiased service at reduced brokerage rates as compared to the full-time brokers. Their charges are less because there is just stamp duty, transaction charges, CTT, STT, etc in it.
These online discount broking companies have gained much attention because they provide 24*7 customer services, Automatic fund updates, Quick order placing and executions, quick withdrawal activity, etc. The firms providing such faster online services have gained a wide customer base. Firms like Angel Broking, ICICI direct, HDFC securities, etc have the highest customer base with the best of the traders and the investors’ reviews and ratings for these companies. These companies have been ranked the best and some of them have also been the oldest broking firms which makes its investors have more confidence in terms of risk and profitability in these companies. The investors can look for the above-written Discount brokers before going for trading in the stock market.