When you want to invest your money, you may choose the real estate or the market. Either way, you need to know the best options, which property or stock will appreciate first, and invest in it. Now, this calls for some experience and knowledge of the way the market moves daily.
Types of brokers
The first thing to do when you decide to trade is to get the service of the trade broker. You have two options – the full-service broker and the discount broker. The full-service broker is the person who gives you the full treatment – bank accounts, linked trading accounts, advice on the day’s trade, and much more.
You can go through the List of Discount Brokers in India and see that the term zero brokerage is not applicable to most of them. Even the few who offer no charge for conducting trade in any segment will invariably charge upfront rate on a yearly or lifetime basis. This takes away the thrill of engaging a zero brokerage firm somewhat.
Zero brokerage fees
Wisdom Capital is the only discount broker who sticks by his word of zero brokerage. They offer zero charges across all the segments of NSE, BSE, FNO, and MCX. All the other top brokers in India charge you Rs 15 at least per trade. Account opening fee is also zero for Wisdom Capital. The other firms reimburse your money but you cannot get by without paying money at the start.
The things you have to watch out for are these. The broker must have registered on the SEBI and be a member of the NSE and BSE. They must provide good investment options whether it is Market Funds or IPO. Most of the top brokers offer plenty of research material on the movement of the stocks. Before you open an account with a broker, ask him for the copies of the previous reports of the research they provided to their investors.
Keep the List of Discount Brokers in India for the time when you have become the master of the game. You will need someone who charges less, talks less, and gives you what you need. Find out what services they provide and how they rate with the previous customers. You can find these reviews on the online magazine that deal with trade.
Your financial partner
When you open a Demat account with a broker, you make them a financial partner in your growth. Open a trial account with them and work on their trading platform to see how good it is. Some may not be fast enough to keep pace with the changes while others may not offer enough features. By working on the platforms for a while you will come to know what the good things are and how they top the other platforms.
The lifetime free maintenance fee offer from Wisdom Capital makes it very alluring for new traders. Not one of the other top 10 brokers in India offers this. Most of them charge at least Rs 300 per year as maintenance charge. The final thing is to check if the broker offers 3-in-1 account facility. This means you have a bank account, Demat account, and online trading account as a single entity.