Brokers are the registered members of exchanges regulated by Security Exchange Board of India (SEBI). There are 2 styles of brokers – ancient or traditional brokers and Discount brokers.
Brokers are the registered members of exchanges regulated by the Security Exchange Board of India (SEBI).
There are two types of brokers – Traditional brokers and Discount brokers.
Traditional brokers are those where you have to call up them for making buy or sell transactions. You also have to give them delivery slip duly signed. While on the other hand discount broker are internet based portal where you yourself have to do the transactions. Its easy and fast and you have a control over your transaction.
They are also know as full service brokers. They provide advisory and trading facilities in stock, commodities and currencies. They charge commission in terms of percentage on the total amount of trade value. Generally these brokers have many branches based out of different cities where client can visit in case of any query.
These brokers came into existance as a result of increased preference of internet and mobile device. Unlike full service broker, they provide only trading platform to investor. This enables them to keep thier brockrage lower.
Read detailed article on online trading account.
There are plenty of discount brokers available in the market now. Let’s have a look and compare at the best discount broker in India.
Best Discount Broker in India
Zerodha is one of the most competitive discount brokers in India. Lowest fee and latest technology is the key features of Zerodha. 650k satisfied clients across India and thus No. 1 discount broking firm. They have latest technology platform for lightening fast transaction. Zerodha also have launched another innovative product called COIN for investing into Direct plans of Mutual Funds. One can save huge amount on brockrage in the long term if invested through COIN.
I have made a comparision on three discount broker. You can chose any of them as per your requirement.
These discount brokers are giving tough time to full service brokers in India.