How to select an online broker for me?

#11
I'll give you a quick process to make selecting brokers easy for you.

1) Check how large their userbase is. Reliability will always be higher if plenty of people use a platform. Upstox and Zerodha are the largest brokers in India right now in terms of their userbase, last I checked the numbers. But please check again.
2) Where are brokerage and maintenance charges the least? Most online brokers offer the same rates, (0.05% or Rs 20, whichever is lower) for intraday and F&O trades. So, there's little to differentiate them. Delivery trading is free across the board too, from my previous research. Then, check for maintenance charges. I think Rs 300 is the benchmark right now. Upstox charges AMC at Rs 300. I know this because I use Upstox.
After AMC and charges, check for margins. I don't think any online broker offers better margins than Upstox. It's helpful if you're into intraday/F&O trading, or plan to do day trading sometime in the future.
#) Check how easy an app is to use. If it's got a complicated interface, you'll get irritated. I've tried other apps, so I know for a fact that I like Upstox because even a four-year-old will be able to navigate it.
From the looks of it, you seem to be a beginner. Use Upstox. You'll find it easy to start investing/trading. Plus, the account opening is free. So, there's no entry barrier of paying upfront before you actually start trading. Hope that helps.
 

stoch

Active Member
#12
I'll give you a quick process to make selecting brokers easy for you.

1) Check how large their userbase is. Reliability will always be higher if plenty of people use a platform. Upstox and Zerodha are the largest brokers in India right now in terms of their userbase, last I checked the numbers. But please check again.
2) Where are brokerage and maintenance charges the least? Most online brokers offer the same rates, (0.05% or Rs 20, whichever is lower) for intraday and F&O trades. So, there's little to differentiate them. Delivery trading is free across the board too, from my previous research. Then, check for maintenance charges. I think Rs 300 is the benchmark right now. Upstox charges AMC at Rs 300. I know this because I use Upstox.
After AMC and charges, check for margins. I don't think any online broker offers better margins than Upstox. It's helpful if you're into intraday/F&O trading, or plan to do day trading sometime in the future.
#) Check how easy an app is to use. If it's got a complicated interface, you'll get irritated. I've tried other apps, so I know for a fact that I like Upstox because even a four-year-old will be able to navigate it.
From the looks of it, you seem to be a beginner. Use Upstox. You'll find it easy to start investing/trading. Plus, the account opening is free. So, there's no entry barrier of paying upfront before you actually start trading. Hope that helps.
Nice suggestions but for currency trading I would recommend online foreign brokers which offer CFD trading. It's much cheaper also you don't need to pay taxes. Like if I want to get access and trading such currencies as EUR, GBP, JPY, USD, AUD I use Hotforex platform. In/out operations is a bit of headache but I use skill for that.
 
#13
Always keep these points in mind before selecting a broker online

1. Know your needs

2. Narrow the field

3. Figure out the fees

4. Test the broker's platform

5. How well the stock broker educate its clients

6. Ease of depositing and withdrawing funds

7. Customer service

8. Get going and next steps
 
#14
Where are brokerage and maintenance charges the least? Most online brokers offer the same rates, (0.05% or Rs 20, whichever is lower) for intraday and F&O trades. So, there's little to differentiate them.
Actually regarding this, I wouldn’t say that is little to differentiate them, tho. Some brokers offer Rs 0 for brokerage like finvasia which can make a huge difference, don’t you think?
 
#17
There are many options available in the market. List down some of them and try to read reviews online, and match your needs that a particular broker fulfil. You should know on what parameters any broker should be evaluated. Do some research and get through it.
 

kaly422000

Well-Known Member
#18
some doubt about cheaper price for discount brokers. atleast for intraday cash and if low volume trade. most of the discount broker incresaed intraday cash brokarage to .03. now there are two atleast money or profit snatcher are call to trade charge and squire up charges. there may any type of disturbence during squire up , eg power cut,internet down or trading platform not working properly. ys as per brokarage for f&o segment rs 20 is cheaper
 

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