Brokerage comparison

Types of brokers

You will want to understand the differences in brokers as well as the type of investor you are before choosing a specific broker. Two types of brokers include discount brokers and full service brokers.

Discount brokers will charge a lower fee than a full service broker while providing minimum trading facility at lower cost. This will generally allow for an investor trust the broker to make fast, real time decisions. Full service brokers provide multiple services apart from buying and selling shared. Many are bank subsidiaries providing a client with a savings account, demat account and online trading facility. Above all else, a full service broker will provide well established personal advice regarding market trends.

Choosing the right stock broker

While choosing an Indian stock broker, you can think over the following points.

  • What kind of investor are you?

    Before choosing an Indian stock broker you will need to ask yourself this question. If you consider yourself a day trader you will need to invest within a small time duration that can be as short as a few minutes and as long as a few hours. As a day trader you will want to seek out a broker who will offer a flat fee on transactions or offer lower fees. This is closely affiliated with discount brokers. Some well-established India based brokers who will offer you real-time, valuable market research platforms for a lower fee include Zerodha and RKSV Security.

    The second type of investor will buy and hold stock for longer periods of time. In this case of an investor there is a strong need to obtain extremely accurate data in a short time period in order to make the best investment decision possible. You will need a broker with a solid execution strategy and one who understands long-term market values, trends and trading patterns. India based full service brokers include IDBI Palsa builder, Motilal Oswal Review, Indiabulls and Geojit BNP Paribas.

  • Cost Efficiency

    There are different kind of fees associated with working with a broker. There are account opening fee, transaction fee, maintenance fee etc. Look for low transaction fees if you trade more often, and low maintenance fee if you hold stock for longer duration.

  • Platform and market research facilities

    Brokerages are increasing capacity to utilize advanced technology through software development and market research tools. Operating an account with a broker who has knowledge of these kinds of software and market research tools will provide incentives for you to make informed and timely decisions in choosing stocks.

  • Range of facilities offered

    Whether you are looking to invest in IPO or Market Funds choose an investor who allows you to do so. Working together as a team is crucial in choosing a broker to make decisions with your finances.

Major Indian Brokers

Broker Name Opening Brokerage Intraday Offers
Goodwill Commodities Free 0.008 in all NSE ,BSE FNO MCX all segments .02% Open Account Now
Sharekhan Rs 750 .5% .1% Open Account Now
SBI Rs 500 .75% .05% Open Account Now
HDFC Security Rs 999 .5% .05% Open Account Now
ICICI Direct Rs 975 .55% .055% Open Account Now
IIFL Rs 750 .50% .05% Open Account Now
Angel Broking Rs 350 .50% .1% Open Account Now
Reliance Money Rs 950 .30% .035% Open Account Now
AXIS Direct Brokerage Rs 999 .5% .2% Open Account Now
Bonanza Rs 600 .50% .05% Open Account Now
Geojit BNP Paribas Rs 800 .30% .03% Open Account Now
IDBI Paisa Builder Rs 700 .50% .08% Open Account Now
Indiabulls Rs 1350 .30% .05% Open Account Now
Kotak Securities Rs 750 .6% .06% Open Account Now
Motilal Oswal Rs 550 .5 - .9% .05% Open Account Now
Religare Rs 499 .3% .06% Open Account Now
SMC India Rs 499 .30% .03% Open Account Now
Ventura Rs 1000 .45% .05% Open Account Now

Major Indian Discount Brokers

Find the list of top discount brokers in India below and choose the best discount broker in India. Most of these are online discount brokers in India and thus provide trading facilities over the internet.

Broker Name Opening Brokerage Intraday Offers
TradeJini Rs 300 Rs 20 per trade. .30% Open Account Now
Trade Smart Online Rs 400 Pay maximum of Rs 15 per order. .30% Open Account Now
TradePlus Online Rs 499 but it is redeamable Rs 99. .30% Open Account Now
Ventura Securities Rs 3500 but it is refundable Rs 50 to Rs 18 per option Intraday from 1 paise to 3 paise. .30% Open Account Now
Zerodha Rs 300 Rs 20 or 0.01% whichever is lower. Rs 20 Open Account Now

Our Recommendation

Goodwill wins the race as the "Best Broker" for Following Reasons.

  1. Zero Account Opening Charges
  2. Low Brokerage.
  3. High Exposure (Up To 40 Times) to help retail customers .
  4. Daily Recommendations to help new customers
  5. Tie up with local Stock Advisory companies to help customers.

Zerodha finishes in close 2nd positions

Only Disadvantage is the 300/- account opening fee. But it is recommended for the traders who donot mind paying the little sum to get a very good trading platform like KITE and PI.