How to select an online broker for me?

#1
Amount to invest: 30-50k. I'm creating a portfolio for the first time.... going to spend a year or so just learning with this amount alone.

No. of trades & frequency: 10-15 trades a month or less... basically just making updates to my portfolio after a month or so... if needed.

I do not want to TRADE..... only to INVEST. Indeed, my trades may be less than this... maybe 10-15 per quarter.

So I need your help... hsould I go with a discount broker, or a full service broker?

Also, is there any downside to discount brokers if you invest for long terms? I heard people tell me there's no point going to a discount broker like zerodha if I'm investing and not trading.
 
#2
You do not need to go with forex broker, that's for sure really. What do you mean not going with Zerodha? It's very good broker for stocks and commodities investment in reality, so please make sure all is fine completely:)
 
#3
You can go for mastertrust, they satisfied client base of 2,50,000, mastertrust has a pan India presence covering 300+locations across 22 states of India.
 
#4
See that the broker is in a good rating, with good work experience and with a large set of tools for trading.
I agree. people tend to ignore the research part while choosing a broker. So don't forget to take everyone's advice but do your own study and select one as per your needs.
 

stoch

Active Member
#5
And I think that Amarkets is more profitable for trading and there are experienced financial consultants
Good choice I would also add Hotforex to this list because they provide flexibility in account options, like zero spread, fixed spread, etc. May be useful for some trading to jump-start trading career.
 
#6
No there is no downside to discount brokers. You can fully trust them and in fact you can choose them over full service brokers because of the cost advantage and if you don’t need tips & recommendations. In discount brokers, zerodha and second finvasia I can tell you to try out. Both will be good to go for long term.
 
#7
Discount brokers are indeed good ones to go for. However do spend time on comparing the pros and cons of brokers before taking a decision.
 
#8
As for me, having more than twelve years of experience and having more than 350,000 clients around the world, this really says that the Amarkets broker has certain advantages
 

stoch

Active Member
#9
Amount to invest: 30-50k. I'm creating a portfolio for the first time.... going to spend a year or so just learning with this amount alone.

No. of trades & frequency: 10-15 trades a month or less... basically just making updates to my portfolio after a month or so... if needed.
I do not want to TRADE..... only to INVEST. Indeed, my trades may be less than this... maybe 10-15 per quarter.

So I need your help... hsould I go with a discount broker, or a full service broker?

Also, is there any downside to discount brokers if you invest for long terms? I heard people tell me there's no point going to a discount broker like zerodha if I'm investing and not trading.
IB for stocks or Hotforex for CFD trading. Choose trading without leverage to get max safety margin and ability to tolerate any drawdown in price.
 
#10
I agree. people tend to ignore the research part while choosing a broker. So don't forget to take everyone's advice but do your own study and select one as per your needs.
Of course, you need to choose a broker that would meet your requirements and provide a really wide range of services, and the Amarkets broker has quite a lot of auxiliary services that make it possible to earn money without having much experience, such as copy-trading RAMM
 

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