The market is flooded with the best discount brokers India. Each one of them might claim they are the best in the market, but to figure out exactly is not an easy task. To make your task easy of choosing a discount broker there are some pointers you need to keep in mind
Do compare the cost of trade in a variety of firms. Just check out if the discount broker charges you for data are it in the form of steaming services or delayed quotes. For the large and even the small investors cost is really important. In case if you happen to be a large investor and trade often even a small savings in dollar adds up. Even if you are small investor a small savings in terms of cost adds up to your portfolio.
The discount brokers are going to show you what they charge and then compare it with the other discount brokers. This would make it really easy to compare apples with apples.
Cost is one of the important criteria to choose a discount broker but do not be fooled as it could be the only one to choose a broker
There are certain discount brokers that would allow you to start trading with a small sum of money whereas others might ask you to pay more. Do not waste your time with a discount broker till the point you are aware on what the bare minimums are and whether you are in a position to meet them or not.
In fact there are many discount brokers that want you to comply minimum number of trades in a given year. If this is much higher than the anticipated amount of trade that you are planning to make then the discount broker could seem to be an expensive option for you.
People end up overlooking this aspect as this comes to haunt them back later
Discount brokers work out to be a cheap option as they do not need to hire staff in order to operate your accounts. The entire process is automated. The choice of a discount broker is to be considered if you are comfortable transacting online.
There is an urge for the investors to interact with a human being from time to time. From my personal experience you might feel the need to talk to a person when it is high stress situations. In such cases you might need to avail the services of a professional who can address the issues timely.
The moment you have compiled a list of discount brokers, call each one. Figure out on how it is like talking to them on a call. Formulate a few questions and figure out on how good they are at answering them.
Superior levels of service could take ample amount of time but it is the show business. The choice of the broker would also be influenced by your investment needs and if you are considering any degree of specialization as far as trades are concerned.