I think nothing can be best until and unless it fulfils your preferences and requirements upto your satisfaction and that, obviously, varies with individuals.
So, it would be better to discuss the issue from the point of view of an investor. Before entering stock market, a prospective investor may desire about many things like
- Demat account should be opened with a reputed and reliable broker.
- Broker will always help with research and tips and those will be 100% right.
- Trading platform should be easy to understand and operate.
- All types of financial investments will be possible under the same platform.
- Brokerage and other charges will be very low and transparent.
- Broker will provide high leverage.
- Fund transfer from bank account to Trading accounts and vice versa will be done instantly.
- There will be very low or no AMC.
- And so on….
But to be practical it is not possible for a particular broker to provide all these to a client. At the end of the day the brokerage company is also a business firm and they survive on the various charges they apply for the services they offer.
Despite all these limitations, a prospective investor has to find a suitable broker to open Demat and trading accounts and start investing in stock market.
If you run a survey, you will find that full service brokers are familiar names like Sharekhan, Angel Broking, Motilal Oswal, Karvy, SMC, etc. They provide leverage, tips, opportunity to invest in various financial products like MF, IPO, insurance, etc. But you have to pay little high brokerage and other charges for that.
On the other hand you will find some unheard (to some people) names of discount brokers like Fyers, Zerodha, SAS Online, Upstox, etc. who charge you less, have lesser number of financial products but good platforms for trading and investing.
Out of all these, if an investor looks for low brokerage, low AMC, user friendly advanced trading platforms, opportunity to buy MFs from AMCs, he/she may choose a technology based firm, Zerodha, the pioneer of discount broking in India. This is one of the best share brokerage companies in India today.
Brokerage: Rs 0/- (Zero) for Delivery and 0.01% or max Rs 20/- per executed order for Intraday trading across NSE, BSE and MCX.
Charges in detail:
AMC: Rs 300/- (pro rata)
Platform: Pi for trading on desktop/laptop with charting, scripting and many other facilities which helps you in analysis. They have Kite for web, android, iOS which enables you trading on the go. Advance facilities like Bracket Order, Cover Order, Trailing Stop Loss, etc. for maximum gain and minimum loss.
Fund Transfer: Through NEFT/RTGS/IMPS.
MF: Zerodha offers a platform COIN where a client can buy Mutual Funds directly from Asset Management Companies at lower rate than that one pays for the same MF while buying from distributors. One can easily keep an watch on all investments at one place.
Customer Service: Good network of 650+ support team to serve on regional languages also.
Account opening fees: Rs 300/- for Demat & Equity, Rs 200/- for Commodity.
Wonderful blog & good post.Its really helpful for me, awaiting for more new post. Keep Blogging!
ReplyDeletebest highest leverage broker