There was a time when stock trading was considered as a very risky investment, which just runs on chances and bet. However, with the advent of technology and awareness in people, this thought is slowly fading away. As far as the awareness is concerned, a lot of credit shall go to the media houses that are running full time business channels, which not just give 24 hour updates about the business circles, but also conduct regular learning sessions and program on their channel. All these developments have made stock trading quite a user friendly affair. However, the investor needs to decide a few things which are very important as to how his journey in the market goes. One is taking the final call on a stock and the second is to choose the best stock broker available in the market. In this article we will discuss the tips to choose the best stock broker.
Factors to consider for selection
There are a number of factors on which your selection for the most appropriate brokerage firm depends upon. These are mentioned below:
Platform for trading
An important factor while choosing a brokerage firm is the online platform provided by the company for the purpose of trading. Since this is the medium through which you process your orders, hence, it becomes very important that the software shall be reliable in terms of speed, user friendly approach and robustness. It should be capable of showing the latest charts, graphs and shall be very helpful in deriving conclusions.
Cost of trading
The trading cost sets itself as one of the most important factors while choosing the best broker. There are several types of costs involved with the brokerage firms which include brokerage, transaction charges, DEMAT charges, Annual maintenance charges etc. The brokerages are actually classified by two methods, namely, one case where the brokerage depends upon the trade value, and the second method is a fixed charge noted. You need to select brokerage firms that like upstrox, which offers quite competitive rates when compared to its peers.
Research and development
These brokerage firms shall have a research team that shall suggest the scripts which are favorable for trading. They should also publish their findings on the economy, market trends, technology etc.
Customer service capabilities
This is an important factor, as it dictates the professional platform, they offer for use. The complaints/grievance, suggestion etc by the user shall be well received, processed and the resolution shall be proved on time. You need to check the customer support channels.
In several types of trading, margin exposure is one of the most important experiences. For this your stock broker shall have margin exposure facility, while choosing the best stock broker. There are some firms, which offer almost 50 times the available thing.
With the help of the above mentioned factors, you can choose the best stock brokerage firms in India presently. This will pave the way for your good source of income as well as satisfaction.