Today, many brokerages provide online services. Many investors prefer to invest their money online because they can enjoy many online features. They prefer to invest some portion of their money in shares and stocks because they can earn higher income. Many people today prefer to become online brokers or discounted brokers to earn additional income. In India some of the top 10 online brokers in India available are Wisdom Capital, Prostocks, Zerodha, Trade Smart Online etc. Some of the full-time brokers available are HDFC securities, ICICI Direct, Sharekhan Mutual funds etc.
Difference between the full-time broker and discount broker?
The stockbrokers are usually the registered members of the stock exchange. Such stockbrokers can usually participate in different stock market activities. So, they can invest in different products such as equity commodities, Mutual Funds, FNOs, FDs, etc. Such brokers are usually known as the budget brokers. The full-time brokers are traditional brokers who provide several types of services to the investors such as the advice about market reports, investment analysis, reports, tax planning etc. However, the discounted brokers do not provide such services to the investors and hence they provide lower brokerage fees. But they provide some online tools such as automatic fund updates, notifications and mails, driven trade terminals, mobile trading app, maps and charts to perform research and perform market analysis, etc.
The top 10 discount brokers in India are:
- Wisdom Capital:
This venture was launched in 2013 and they are the finest discounting brokers in India. They provide wide range of features to the investors such as the trading podium, vast margin and low brokerage charges. They provide three types of schemes namely the pro plan, freedom plan and ultimate plan. The investors can open their account for free and also they charge low demat charges.
They are also the reputed brokers in India who provide trading terminal to several investors. They are reliable and smooth traders who provide higher returns. The maintenance and account opening charges are nominal. They should pay little higher brokerage charges.
- Trade Smart Online
They provide trustworthy and reliable services to the traders. So, the trading charges and maintenance charges are nominal. The brokers also provide other online tools for the investors for smooth maintenance.
Zerodha is known as the smooth trader who even provides trading education to the investors. They provide numerous online features and the maintenance charges are quiet nominal.
They provide free account opening feature and also maintenance charges. They provide a trading platform named as SAMCO web express.
- SAS online
The charge for opening the account is lower and they also provide maintenance charges. The expenses that they charge are quiet nominal. They provide Alpha terminal or NEST.
- 5 Paisa
They provide 0% brokerage along with flat fees for trading. So, it is affordable to all the traders. The investors can also invest in mutual funds. The account charges are nominal
They are leading brokers in India who provide a convenient online trading platform. They also charge maintenance charges and brokerage fees at a lower cost.
They do not charge any fees for trading or opening a demat account. They provide higher maintenance charges and reasonable charges for lieu.
- RK Global
They provide nominal trading charges and they can open their account at a nominal price.
So, the top brokers provide the best services.