No one, literally ! Until and unless that suites and satisfies your requirements, trading style and capability.
Actually out of the hundreds of the stock brokers in India some are really good in various/different aspects but a stock broker is good when a client is benefited or happy with the same.
There was a time when only a few with much money, knowledge and confidence could/dared to enter the market. At that time, the rules and regulations were primitive and a slow and clumsy system did not attract many to jump into this. Besides, various scams and irregularities in the market and even regulatory authorities could not evolve to facilitate the market to expand enough and attract more traders and investors. So, there were less opportunities to choose a broker.
But today the scenario is much different. The Govt agencies are more effective in ensuring security and safety for the investors and at the same time taking steps to cope with the ever-changing economic development in national and international level. All these have encouraged investors to enter the stock market and a considerable number of clients have been increased which has also triggered in increasing number of brokers. Today there are hundreds of brokers with various models and facilities suitable for clients.
Today one intending investor can select a broker to trade with from
a. Traditional brokers like Angelbroking, Karvy, Sharekhan, Motilal Oswal, etc who charge a bit high for providing tips and platform for trading and investing in almost all financial products like equity, currency, commodity, MFs, Bonds, insurances, etc.
b. Discounts Brokers like Zerodha, Traderjini, Upstox, 5paisa, etc who charges you very low for proving platform for execution of trades and investments in various financial products.
c. Banks like ICICI, SBI, Kotak, etc who provide 3-in-1 account for savings cum trading account with a charge around that of traditional brokers and offers facilities for trading and investing in different financial products.
Now, it is not viable for a client to open an account with each and every broker of all categories mentioned above and find out a suitable one.
As such, one can search on internet or personal contacts.
On internet one can find out that Zerodha, a discount broker has been crowned with the title the largest broker in India with 1 million plus clients and 10% of daily retail trading volume across NSE, BSE and MCX. They have climbed to the spot starting in 2010 as the first discount broker of the country and offering user friendly platforms for trading and investing an unbelievably low brokerage plan.
Brokerage:
*They charge 0.01% or Rs 20/- per executed order for Intraday trades in Equity, Currency and Commodity across NSE, BSE and MCX.
*They charge NIL i.e. 0 for all equity and Mutual Fund investments.
Platforms:
Pi: For Desktop. Heavy software with multi functions-research, analysis, placing orders.
Kite-Advanced, fast and user friendly with charting and analysis facility compatible in Web, Android and iOS devices.
Coin-for analysis and investment in Mutual Funds on Direct and Indirect mode. No brokerage.
Besides, they some innovative paid service for ease and less risk for clients:
Sentinel: A client can create market alerts for stocks and F&Os.
Sensibull: This is an innovative platform for options trading.
Smallcase: A client can go for thematic investment in intelligently choosen bunch of stocks.
Streak: This is a unique platform for retail traders for creating algos without coding, even backtest them on historical data and also deploy them live in the market.
Fund Transfer: Very easy through BHIM/NEFT/IMPS/RTGS.
Varsity: This is a platform for knowledge about stock market. Free access.
Reports and Statements: They have CONSOLE for all your reports and info regarding all your transactions and activities.
Support: Besides, Z-connect and TradingQnA, a robust support team of 1000+ experts are there for addressing all your queries in multiple languages.
Helpful trading tips, for more specific tips you can check out Profit Vista Reviews.
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