Reliable/trustworthy discount Brokers

[Newbie Day-Trader]

I have two trading accounts, one with full fledged broker another with a discount broker. On comparison of brokerage, discount broker is 5 times cheaper than full fledged broker with double the number of trades than full fledged broker. My trading account is growing with discount broker. Now I am in confusion to what extent I can have trading account with him. Means safety. How to judge and what should be criteria for reliable broker. L:ike CRISIL/CARE ranking whether any ratings available? What is touch NSE alpha? Ashwini Gujral, a leading trader is having account with Zeroda. I do not know how big it is.

Traderji has many experienced traders. Chittorgarh.com is running http://www.topsharebrokers.com/ site, who owns this traderji forum. Can anybody guide, how to select a safe, cheap, good broker? I do not want analysis, tips, recommendations, research etc. All of them irritates me. My need is trouble free trading on the go, mobile trading.

Interactive brokers is also a discount broker now. Zerodha unfortunately has had too many platform issues for far too long.

I agree with TraderBullet. If you don't want to go for NSE membership then Interactive Brokers could be considered since they're just as big or bigger than many "full-service" brokers but charge discounted brokerage; so, they're great on account of safety as well as brokerage. Their platform is head & shoulders above the rest of the Indian brokers, especially for those looking to get good fills on larger orders. If you're a positional trader or an investor then they also have GTC order-type, which means that one doesn't have to set SL & TP every morning for a continuing trade.

 

[TracerBullet]

Their platform is head & shoulders above the rest of the Indian brokers, especially for those looking to get good fills on larger orders

How do you get better fills with IB ? Have you used any of their execution algos ? thanks

 

[Newbie Day-Trader]

How do you get better fills with IB ? Have you used any of their execution algos ? thanks

While I've used Relative orders for stocks in the past, I mostly use Conditional orders since I day-trade only one lot of stock-futures but if someone wants to trade stocks in very large quantities or even many lots of futures then there are unique order-types to get better fills, depending on the trading strategy, like Scale orders for passive pullback strategies, Relative orders for aggressive strategies, etc.

 

[cloudTrader]

But, how will you get trading platform and backoffice related things if someone goes for NSE alpha membership?

For Trading Platform , Alpha members get NEAT , managed by NSE & connected directly to NSE servers. Regarding backoffice I also have not come across much information but being a NSE member there must be some kind of arrangement to facilitate ease of business.