The choice of the top 10 stock brokers in India for beginners is not an easy task. The choice of the best broker means also choice of the best demats account. In fact both these accounts need to be opened at a parallel level. Now the question which are the best accounts among both of them. Let us get into the basic pointers which will enable you to make a decision with relative ease.
Does the broker have a reasonable command in the market?
A subjective issue but the feedback of the market hardly goes wrong. Discuss with investors or traders and they are going to give you an honest feedback about the brokers. Check out the websites or online portals for supportive arguments. Clearly analyse which brokers have the best demat account if you are a beginner. The manner by which a broker treats you in the market will give you a viable idea about their business model.
Would the broker go on to provide you with a 2- 1 or 3- 1 account?
From a retail angle the 2 – 1 account is much better. You need to have the DP and broker under the same head meaning progress ceases to be smooth. Suppose your broker is not your bank, it is possible to allocate money from your bank account and this seems to be an easy process. A trading account for the beginners is one that provides a minimum 2 – 1 account at a bare minimum.
In depth analysis about an online trading account of the broker?
With online trading account you have the facility to trade from your office or home at your own convenient time. But online trading account for a beginner means simplicity and speed. If you are looking for logical icons it is not going to add a lot of value. The question is will the online trading account of the broker help you to move from step to another in a mere 3 clicks. This is what seems to be important.
The reliable online trading account for the brokers is the ones guiding you through the trading process. The concept of trading is all about information, analysis and execution. Does the account of the broker incorporate all these features? In fact the account of the broker should equip you with a wide variety of screeners that would able you to shortlist and pick stocks of your choice. Does the brokerage rate seem to be competitive and are there no hidden costs involved in the same? An important indicator in the choice of a brokerage account is the amount of commission levied. Yes no one is going to provide you with zero brokerage, but the rates offered have to be competitive. This is a cost of service that a broker provides but they need to offer you a true value for your money. Perhaps an important point is check out for the hidden fees of the broker. They might have low fees, but cover it via hidden fees.