The choice of a broker is no way different from the choice of a stock. A lot of research goes on to it and not all type of brokers is suitable for an investor. The best way to choose the top 10 stock broker in India is via referrals. Now what are others saying about brokerage. Just as you are planning to conduct research before purchase of a stock, a suggestion is to find as much as possible about your broker.
You can check out with the existing clients on how they have found out their broker and even the reasons on sticking to them.
Technology is one of the key aspects of a broking business. An intelligent firm moves towards execution whereas investors are empowered to trade. In fact the trading platforms are customizable and rich in features with proper analytical tools for asset creation. One of the major achievements of technology has been low latency, reduced cost and faster implication of trades.
Wealth creation is an art of long term investment. Not many brokers are going to provide you research based inputs in relation to long term wealth management. A systematic approach for generation of wealth is to be patient in order to build wealth over a period of time. At the same time stock brokers tend to be service providers. They are not in the business to buy or sell stocks, but ensure you do go on to gain attractive returns on investment. Yes money making is incidental, but a broker who believes in the art of wealth creation with a proven track record can go on to create wealth as far as your investment is concerned.
The investor goes on to choose a broker who provides you less commission on trade. But this is not the only criteria that you have to consider when you choose a broker. Ideally a broker should understand your risk appetite and devise a strategy based on that. In fact return on investment is a lot important than the insignificant brokerage charges. Price is not everything and remembers the old saying that what you are going to pay you will get. Just like anything you pay the price is going to be an indicative of your quality. Do not end up opening an account with a broker as they provide you with the lowest rates of commission.
Discount might not always be a good idea. You can start off with a full time broker. For a novice trader it might be good as it can provide them with an experience of the market conditions. Once you have a grip over the market then you can go on to take suitable decisions.
Seek out opinion from clients who have gone on to avail the services of the brokers in the past. You need to seek out a broker who does have robust customer skills and mechanism.