Published on Friday, April 5, 2019 by Chittorgarh.com Team
These days, a lot of traders prefer online stock trading. The huge demand for online share trading has led to the emergence of many online stock brokers. This article discusses online stock broking, online vs offline stock brokers and provides you with a list of best online stock brokers in India.
Online stock broking is a term used to describe a new type of stock brokers who offer their trading services completely online. Examples of online share brokers in India include Zerodha, Upstox, SAS Online etc. As stock trading has gone online, the broking industry saw the emergence of online stock broking companies who operate on the online model and are able to offer trading services at much lower costs.
Unlike traditional or full-service stock brokers in India, online brokers have very little physical infrastructure and interaction with clients. For example, a popular online stock broking company, Trade Smart Online operates from its registered office in Mumbai and has clients from across India. From account opening to trading assistance to customer servicing- all these are done through online platforms. Most of these online share brokers have 1 or 2 offices in the country and caters to people from all parts of the country. The online business model allows them to save substantially on branch offices, employee salaries and other overhead expenses.
A major USP of the online stock broking companies is the low brokerage fee charged by them. Most of these companies charge a fixed and flat brokerage per trade in the range of ₹10 to ₹20 per trade.
Another noteworthy feature of online share trading firms is that they offer very limited services in comparison to offline share brokers. Most of the online brokers don't offer research services, Portfolio Management Services and investments into IPOs and other financial products.
There are many difference between online and offline stock broking companies. Here are the few major points of difference
Online Stock Brokers
Offline Stock Brokers
There is fierce competition among online stock brokers. And that's why you will find them coming with new online brokerage plans and other facilities for traders. However, finding the best online stock broker depends on your individual trading needs. Here are 5 tips to finding the best online brokerage company for you:
To pick the best online share broking company, you need to consider these 5 tips:
Begin with a list of trading services and trading tools you would need. What trading platforms you would prefer trading on? Do you want other services like investment in Mutual Funds, IPO applications etc., or tools for Options Trading or Algo Trading? Then create a list of online stock broking companies that offer those services and tools.
Brokerage fees are a key consideration in trading. The lower the brokerage, the more profit you make per trade. So compare online brokers based on the brokerage charged. While comparing brokerage, also keep an eye on other charges like platform fees, AMC, transaction costs, if there are a monthly or quarterly trading turnover criteria etc. To help you quickly find a low brokerage online broker, we have compiled a list of top brokers charging low brokerage.
While low brokerage and services are good, the quality of services and experience matters a lot. Good online stock brokers offer superior customer services. So check customer ratings of the shortlisted brokers to find out how people doing the business with the broker rate them.
As said earlier, online stock brokers are offering offers like brokerage cash back, zero account opening fee trading accounts and zero AMC demat accounts to acquire new customers. Look out for such offers to lower your trading costs.
The market offers a lot of choices in online stock broking. There's a long list of online stock brokers offering good trading services in India. The services offered vary from broker to broker. In your quest to find the best online stock broker, the trick is to find someone who best meets your trading needs as well as help you save on trading costs. So take your time, understand the choice available, match your trading needs with services offered by the broker and then take a decision.
At chiitorgarh.com, it is our endeavour to bring you the most comprehensive and unbiased broker reviews to help you make an informed decision. Here are few helpful reads to help you find a top online stock broking company in India:
No comments found. Be the first to post a comment.
Current IPOIPO Dashboard Current Mainline IPO Current SME IPO IPO Calendar Performance Tracker DRHP / RHP Docs
Live IPO InformationIPO Subscription IPO Listing Date IPO Allotment Status IPO Reviews IPO Rating Basis of Allotment
Stock Broker ComparisonCompare Share Brokers Side-by-Side Comparison List of Stock Brokers Broker Complaints Monitor Articles / Tutorials Glossary
Discount Brokers5paisa (Flat ₹10) Zerodha (Flat ₹20) ProStocks (Flat ₹15) Upstox RKSV (Flat ₹20) Trade Smart Online More Discount Brokers >>
Full-service BrokersICICI Direct Motilal Oswal Angel Broking Edelweiss Broking Aditya Birla Money More Full-service Brokers >>
More About BrokersSpecial Offers Broker Reports Top 10 Discount Brokers Top 10 Full-Service Brokers Top 20 Share Brokers
History of ChittorgarhHistory of Chittorgarh Maharana Pratap Meera Bai Panna Dhai Rani Padmini Jainism & Chittor (Hindi)
Tourism at ChittorgarhFort of Chittorgarh Photo Gallery Around Chittorgarh How to Reach Palace on Wheels