As soon as you think of investing in stock market, you start looking for the best stock brokers around you. Stockbrokers are the agents who are certified professionals to participate in the security market. They are actually the agents who act as the securities for the buyers and sellers. They help you in investing in stock market and they charge commissions for their service. Now, many people think investing in stock market is only for those who have lots of money. The picture is not like that. There are options of low brokerage where the commission, charged by the brokers is quite low and you can get benefits from the investment. Usually, there are two main types of brokers, available at market-
- The Full-time Brokers– They are the brokers of brokerage firms who charge a percentage of trade value. That is really huge for those who are running tight on budget. They provide planned service, like researching the market for their client and providing research reports. They also provide advice and assistance to help the newbies to invest in the stock market. Their service is quite extensive and that’s why pricy.
- The Discount Brokers– if you are looking for low brokerage, discount brokers are the only option for you. The commission charge is quite low and you don’t need to spend huge on that. It is also true that you won’t get any advice on investment if you choose discount brokers. But, the fact is, they have their website where you can get enough knowledge about the same. Today, discount brokers are getting huge popularity among the professional investors.
The Areas Where Discount Brokers Charge
There are certain areas where discount broker charges their investors. Those are as follows-
- Fixed Price per Trade– No matter which size you choose for the trade, the rate is fixed per trade. You will be amazed to know that this amount is also quite minimum as it is ranged from RS 9 to RS 20.
- Monthly Fees– This depends on the request of the investor. Based on that, a monthly fee is charged. You can get unlimited trading plans, based on the monthly charge you pay. There are lots of discount brokers who provide online service and their trading plans start from RS 999 only.
Top 10 Discount Brokers in Market
You will find lots of discount brokers who comes with wide variety of brokerage plans to choose from. Based on the expert’s opinions, here are top 10 discount brokers in India-
- Zerodha– This is one of the best and oldest discount brokerage firm in India that has more than 50,000 clients and also their regular turnover exceeds RS 5000 Crores.
- TradeJiNi– Maybe they are the new players in the market, but they have secured their place on the top ten list because of their amazing service and customer satisfaction.
Apart from these two, there are lot more discount brokerage firms where you can get discounts while investing and that makes you interested in this.