Who is a stockbroker?

A stock broker is a professional who executes buy and sell orders on behalf of clients for stocks and other securities, usually for a fee/commission. Stockbrokers are generally associated with a brokerage firm and handle transactions for retail and institutional customers. Brokerage firms are also sometimes referred to as stockbrokers themselves.

The benefit of stockbroker

• Advice - A stockbroker offers advice on how to invest, grow, manage and maintain your money.
• Trading - He will execute trades for a client
• Keeps Records - Brokers keep records of trade confirmations, statements, year-end tax reporting statements, and any activity in an account.
• Guide and Help - Stockbrokers provide insight and help a client learn about the advantages, disadvantages, risks and rewards.
• Rules and Regulations - Stockbrokers must adhere to certain rules and regulations.

Best Stockbrokers in India

Kotak Securities

Being one of the most prominent names in stock brokering, Kotak Securities definitely has its advantages. Leveraging its banking services, Kotak offers an array of trading platforms. Clocking in more than 500,000 trades every day, Kotak has a presence in over 360 cities in India with over 12000 branches spread across the country.

As Kotak is such a large company, its service charges a relatively higher.

Kotak Securities also offers its client with an online trading platform in a mobile trading application called ‘Kotak Stock Trader’ which comes with great user experience and a large number of additional features.

Zerodha

Recognized as a discount brokerage company, today, the company is popular for its immense product innovations and decent digital initiatives. They empower digital share trading. Zerodha has different trading platforms to implement stock trading. It also provides guidance on share trading.

Edelweiss

As a part of the Edelweiss group, Edelweiss Broking Services Limited is a leading financial services company providing its clients with a range of products and services across institutional, retail and corporations.

Employing around 6200, Edelweiss has a client base of around 900,000 serving across 237 locations in 120+ cities of India. Edelweiss acquired J.P. Morgan asset management company in March 2016 to widen its coverage and hold in the commodities segment.

Though brokerage firm was among the first ones to bring online account opening, we are still to more technological improvements in other areas.

5Paisa

5 Paisa is one of the chief stock brokers in India. As a name says it aims to offer low brokerage charges. These are stockbrokers who cater to trading services even on much lower brokerage rates than 5 Paisa itself. The account opening fees are merged with the fact that the first five trades are free of charge with it. Their lucrative schemes are to attract more trades

Sharekhan

With around 5% market share and around 12,00,000 clients, Sharekhan is the 4th biggest stock broker in India. Founded in 2000, Sharekhan has a network of 2300 sub-brokers and franchises across 575 cities of the country.

Sharekhan has some unique offerings in its brokerage plans for both pre-paid and postpaid terms.

Sharekhan is known for its trading applications including Trade Tiger and that is suitable for intermediate to advanced level traders.

So why don’t you go ahead and invest in the share market today?