How to select an online broker for me?


Well-Known Member
Master trust is the same as Karvy right. There have been complaints about them.
Suggest you go with full service brokers like Phillip or Axis direct. Discount brokers appear cheap, but there are a whole lot of issues with them that you can find discussed elsewhere here.


Active Member
Firstly, list down what your expectations are from a broker then go for the one who fulfills your requirements.
Most probably newbies don't have a clue what they need. That's why they have to rely on choice of some other, seasoned and experienced traders. But general criteria is regulation, fast withdrawals (variety of payment methods) and low latency to their servers. The last point implies that they have to have servers in many different locations in the world.
It’s best to go for discount brokers like finvasia, fyers, 5paisa etc. Their main advantage is that you can cut out a lot of cost spending in the name of charges, brokerages etc.
For long term investment I am using finvasia because,
1. They give professional services with comprehensive trade reports that can help investors to track their fund movements over a long time.
2. With their trading platform shoonya, you can monitor your trades via multiple devices at any time, anywhere. This tool also has the best charting patterns that helps you to choose stocks that have long term scope.
3. They have zero charges for brokerages, clearing and account set up.

Also to add, they have good trading tools which can help you with stock selection for your long term investment plan as well. If you are looking for very long term investments like decades with very low risks and consistent returns, you can check out their mutual funds plans too.
I feel you should go with discount brokers. They will help you with all that you need and the good part is that you might not have to pay huge brokerage to them.
The most important thing that you should pay attention to is the broker's regulations and reputation. Look for some old brokers which work consistently over the years.


New Member
Choosing a broker is a very serious step towards successful trading and traders should be very attentive and careful while doing it. I divide finding the most appropriate broker for me into 3 steps. The first step is official regualtion. This thing is very important to determine whether this or that broker is trust worthy or not. The next thing you have to look for is reputation of the broker in trading community. You should ask other traders who work with the broker about their opinions and impressions in order to have a clear-cut idea of what trading with this broker looks like. The third step is to look at the trading conditions. Here you've got to pay attention to many things like trading platform, spreads, commissions, trading styles which are alright for the broker (some brokers don't allow scalpers to trade), etc.

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