The market has a presence of various best share brokers, but each trader has a different investment approach, money, and amount of time they can invest on trading and different options of using trading tools (i.e. mobile, desktop, etc.).
You might get amazed by knowing that there are several best stock brokers in India who offer stock brokerage services to the various traders and investors. Now that's a significant quantity of stock brokers, and choosing one of them that best fits your preferences is quite challenging.
Why is choosing a stock broker so challenging?
- There are numerous share brokers in India with a well-known brand name and vast network of branches across India.
- Besides trading, share brokers offer numerous services, and you may not require every one of them.
- Each share broker has different ways for commissions. Some stock brokers charge their clients on a percentage basis, i.e. 0.5% per trade volume, while others charge a flat fee of INR 20 per trade volume.
- Not every share broker offers guidance for beginner share market traders.
- Not every share broker offers suggestions & tips.
- Every share broker offers different trading tools and commission charges.
Stockbrokers Types
1. Discount share brokers are those stock brokers who charge low commission charges on buy/sell orders compared to full-service share brokers.
Advantages:
- Low or no brokerage charges
- Fixed brokerage charges, irrespective of trade volume
Drawbacks:
- Do not offer investment advisory or stock research
- No offline or online branch support
2. Full-Service share brokers, also referred to as traditional stock brokers, give clients an option to open the best trading account along with additional services such as branch assistance, investment advisory, research reports, etc.
Advantages:
- Offer Investment advisory services and stock research reports
- Both online and offline branch support
Drawbacks:
- High brokerage fees
- No fixed plans (brokerage depends on trade volume)
Best Stock Brokers in India 2021: Top 5
The following is the list of best stock brokers in India that you may choose for your stock trading in 2021:
- Wisdom Capital
- Upstox
- Zerodha
- 5Paisa
- Sharekhan
