There are found two kinds of brokerages namely the traditional or full- service brokers and the discount brokers who offer you their services, but before picking any one of the brokers, you must look at services they proffer you so that you can grow your money easily. Below are given some points to be taken into consideration. With the help of these points to have right broker can become easy and time-saving. For one who wants to go for trading, these points are must to consider.
Take note of the commissions and also other kind of fees that are levied by broking companies. Mind it not to overdo the point. Moreover, make out all the facilities they provide. Almost all brokerage firms contain two plans as a minimum. One is utilized for intraday traders, and they have other one for the investors who are long-term players.
Confirm it meticulously if there happens to be a clause or subclause with reference to minimum trades that you are necessarily required to carry out and also the penalty mete out to you if you don’t conform to the requirements. Among the three accounts, one is concerning to savings account. Going by such arrangement, a few banks have devised rules on the subject of minimum balance.
Mutual funds cum other investment options
In case you are interested in selling and procuring mutual funds via the brokerage account, you must investigate the funds which the brokerage firm has associated with and the list of services they claim to proffer. Maybe you wish to invest in fixed deposits, ETFs- exchange-traded funds, and options verify if they provide such services. The prices they levy from you for offering these services should also be taken into account. It is known the fact that the discount brokers don’t tend to give these services, but traditional brokers offer. You may find that all traditional brokers do not provide products relating to AMCs—asset management companies so look for the best stock broker in India that can provide all possible services.
Reports about research
It is quite evident that full- service brokers provide you research services also. This offers the investors the room for analyzing reports of analysts about companies or segments of interest or accessibility to data concerning companies. Think whether you require such services because these facilities will enable you to make the best decisions regarding selling and buying stocks plus mutual funds.
More importantly, read the reviews online or on forums that are specialized.
It is common practice among some people to hail in the office and discuss trade with the executives of the company. In case you turn out to be one among them, make sure that the brokerage firm operates a local office. In the same manner, if you feel to place a few orders by yourself in person or on the phone employing a real representative in place of a recording, confirm whether it is possible or not. In case it is there, know the price.