Over the years, people had never been in the favor of trading. Most opines that it is neither a profession nor a hobby for the masses. Only the smarty pants in the market can pull off the trick of investments very well. But trust me! The real world does not function this way. If you can understand the ABC of trading like, the know-how’s and the ground rules you too will be able to play the dice in this game. Trading in simple terms is buying and selling of commodities, securities and services and expecting a profitable gain in monetary terms. And the people that remind you of the rough edges of the stock market is the broker.
The Broker is an intermediary who buys and sells stocks and securities on your behalf. He is the sixth sense of the stock market. Let me put it this way, if Google is God to IITians then a broker is God in disguise to the investors. But with the penetration of internet, the role of a broker has been cut short. Online trading is an example.
Online Trading
What is online trading? It is a concept contrived to enable individual investing and trading. Earlier before, traders and investors had to meet the broker at the stock market known as floor trading. People experienced short falls like busy telephone lines, location constraints, miscommunication etc. before shifting to online trading. You no longer need to meet the broker in person; instead you only need an online account and the right amount of reasoning to make your decisions. The online trading company you are associated with automatically becomes your broker. For example, if you are trading via HDFC Securities, the same will be representing you. Another perk of online trading is that information necessary to make the right decision is displayed on the screen through charts, alerts, real time data and stock market news.
The best brokers reining the roost are:
- ICICI Direct: It is known for providing top drawing mutual fund and online trading facility in the country.
- India Infoline: This well established stock broking company has substantial businesses too.
- HDFC Securities: This broking company has been active in the capital market for years and is responsible for minting millions for many in the country.
- Sharekhan: It has been engaged in providing the right tools to help you buy profitable shares every time.
- Kotak Securities: This respected group brandishes a high profile clientele in the country.
- Angel Broking: This is one of the top 5 trading companies in India.
To make your search more organized, below is an evaluation chart of best brokers based on important aspects of trade:
| Best Online trading account | Brokerage rate(opening charges) | Intraday Buy / sell | Delivery Buy / sell | Futures Buy / sell | Other charges | Margin requirement / exposure limit |
| ICICI Direct | Rs. 975 | 0.275% | 0.55% | 0.05% to 0.03% | Nil | 0.05% to 0.03% |
| India Infoline | Rs. 750 | 0.05% | 0.50% | 0.05% | Nil | 0.05% |
| HDFC Securities | Rs. 799 | 0.10% | 0.50% | 0.05% | Nil | 0.05% |
| Sharekhan | Rs. 750 | 0.10% | 0.50% | 0.10% | Nil | Nil |
| Kotak Securities | Rs. 750 | 0.49% | 0.49% | 0.49% | Nil | Nil |
| Angel Broking | Nil | 0.04% to 0.01% | 0.40% to 0.10% | 0.04% to 0.01% | Nil | Nil |
This table will surely help you in selecting both the best online broker and the best online trading accounts. However, you also need to take into consideration certain factors while looking for the best online trading account. Some of these are:
- Quality information: Make sure that your online trading account provides you with real time information and the best online tools available.
- Credibility: Your online broking account must be supported by a well established and respected bank or a financial institution so as to guarantee the safety of your investment.
- Service quality: The service must be awesome. It should provide quick confirmations even during peak hours.
- Customer support: Your trading account should have the best customer support so that they get back to you as soon as you face any problem.
From the list above, we can clearly declare Kotak Securities as the winner in the best broker race in India. It could intelligently mark a place for itself in the stock market.
Akshay Agarwal
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