So, you are looking for online stock trading in India to trade Indian Stocks, you have plenty of options to select and start with.
In India the apex Govt banking and financial authority is Reserve Bank of India who regulates the Indian stock market through SEBI and other regulatory agencies. There are only two Govt agencies NSDL and CDSL who extend Depository services through registered Depository Participants who are simply called broking companies. In India an investor needs to visit Depository Participant i.e. broking company to open a Demat account to start online stock trading. Since brokers are registered under either NSDL or CDSL, a client gets Demat account provided by either NSDL or CDSL.When you take delivery of stocks, the same are credited to the Demat and kept under the security of NSDL/ CDSL.
Now, to the present context of selection of a good broker in India, there are three types of broking model here.
A: Full Service Brokers: They are the older and lager ones in service in the country. Sharekhan, SMC Global Securities, Karvy, Angel Broking, Motilal Oswal, etc provide almost all the financial products in the stock market like equity, commodity, currency, IPO, Bond, Mutual Fund, etc through numerous offices with infrastructural set up across the cities and towns. Clients can visit or call and trade there. Today with the much improvement of digitization they have launched mobile versions of their trading terminals also. They also have a research team who advise you for investment. You can enjoy higher leverage and even on loan also.
But the major backdrop of such service provider is their charging pattern. Obviously they will charge you higher for their services which at times you may feel hard to maintain. A major part of your profit will be spent on payment of brokerage. During a loss trade, it will be pathetic, though it’s a part of the business.
B: Discount Brokers: This broking model is new in India since Zerodha entered in 2010. Now, there are number of brokers in the category-SAS Online, RKSV, Fyers, Traderjini, 5paisa, etc.
Generally, they focus on robust trading platform, very low brokerage pattern, educational initiative, easy fund management and customer services.
C: Bank cum broker: A number of Public and Private banks are also offering depository services to their existing customers along with banking services. They provide 3-in-1 accounts (Savings+Demat+Trading) to their customers. ICICI, HDFC, SBI, Kotak, Axis Bank, PNB, etc. are to name a few.
Easy Fund management, Nomination are the USPs of this type of Brokers.
Since the question is related to trading online, discount brokers will be a better choice. Zerodha may be a good choice for you as they are technology first broker with innovative ideas from Bengaluru. They have already consolidated their ground in the business (the have no debt) and have succeeded to run the business with 4lakh clients across the country. They are now the fastest growing broker in the country in terms of number of new clients.
What do they offer ?
Low Brokerage: Since the question is more intraday related, their charging pattern will attract you as they charge you only 0.01% or Rs 20/- whichever is lower per executed order for trading in equity, commodity, currency. For investment or delivery of stocks they charge NIL brokerage.
Trading Platform: They are technology first broker who undertake innovative initiatives for betterment of their products, platforms and other tools which benefit an investor in manifolds.
Pi is their heavy terminal based platform one can install and run on stable and fast internet connectivity. There are number of charts and indicators for analysis, facility of Bracket Order, Cover Order and Trailing Stoploss.
Kite is another platform meant for Web/Android and iOS devices. This is very light HTML5 programme, very fast and user friendly.
Coin: They have also introduced a new platform called COIN for investing in Mutual fund by purchasing from Fund Houses directly escaping payment of upfront and trail) distributor commissions.
Besides they have innovative tools like Margin Calculator, Brokerage Calculator, Savings Calculator, etc for easy calculations of the clients.
Kowlwdge Platform: They have VARSITY, a platform for knowledge in stock market, analysis and various managements related to stock market free of cost.
Customer Support: One can get multilingual support over call and via mail. Beside they have innovated platforms like TradingQnA, Z-connect, Pulse, etc for all queries of their customers.
Account opening charges: Very low-Rs 300/- for Demat and Trading and Rs 200/- while AMC for Demat is Rs 300/-(End of the year)
One can visit their account opening page for opening accounts online with Aadhar: Open an online trading and demat account with Zerodha and enjoy the lowest brokerage