Things to Keep in Mind before Choosing a Stock Broker


Things to Keep in Mind before Choosing a Stock Broker

Trading and investing in Indian Stock Market can be done via a Stock Broker only. It means one must have a Trading and Demat account in any Indian stock broker. Choosing a Stock broker to trade or invest in Indian Stock Market is a quiet a tricky task. There are number of stock brokers in India which provides various trading and investing services. You can choose a best stock broker as per your need and desires. Apart for this, there are several factors which you must consider while choosing a stock broker.

Basic factors to consider while choosing a Stock broker:

• SEBI Registered
SEBI stand for Stock Exchange Board of India. It’s a regulating authority to regulate stock market, to protect the investor’s securities etc. If you are looking to open a trading or demat account in Stock broker, it will always be a good decision to open your trading and demat account in SEBI registered stock brokers.

• Type of Services Provided
There are several types of stock broker in India depending upon the services they are providing. E.g., if you prefer trading, go with the broker who provides better trading facilities or services. If you prefer investing, go with the broker who provides better investing facilities or services. You should select a broker which fulfils your service needs at maximum.

• Broker’s Background
While choosing a broker you should take required knowledge about the broker’s reputation and background. Check out the past complaints and issue and how they solved those so that you can find a more reliable broker to trust on.

• Commission or Charges
Brokerage charges are applicable on per executed trade. These brokerage charges vary from broker to broker. Some broker has minimal brokerage rates while some may have more brokerage rates, depending upon the services and conditions. Also, there are some hidden charges charged by the brokers. Read and understand all the charges before choosing a stock broker.

• Trading Software
Several Trading Software and Platforms are provided by stock broker to their customers. With the help of trading software one can easily trade or invest via their mobile, desktop and tablets. Choose a broker who provides user friendly, smooth, fast and advanced trading software so that you can trade seamlessly from anywhere.

• Customer Support
A good customer support is must. Choose a broker who provides quick and proper support for their customers queries and issues. A broker providing both online and offline customer support and services should be prioritized.

These are the basic services and needs which a broker should fulfil. Rest, it always depends on your need and requirements. Consider all these basic factors and choose a stock broker which suits you best.

Also Read : Best Demat and Trading Account by Indian Stock Brokers in 2022

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