How to choose your stock broker?

#1

Choosing a stock brokers is always a challnge for a beginner. Majority of time, approach to choose a broker has been a casual approach primarily based on representative of a broker approaching a prospect first or else recomended. This exercise is important and should be based on various considerations and this video explains all those criteria which needs meritorious consideration before one chooses a broker. https://youtu.be/s4UcSqtr5-s

D K Sinha

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#2

Nice explanation.

I use Zerodha too for stock investing and been happy with the services offered. Here’s my review of the stockbroker: https://tradebrains.in/zerodha-review/

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#3

It has been well explained. Excellent

#4

A broker acts as a mediator between an investor and a securities exchange—the marketplace where financial assets are bought and sold. To choose a broker, you must check for:

  1. Cost and fees
  2. Fees Structure
  3. Investment style.
  4. Test the Broker’s platform.
    To get the best trading service, try IIFL Securities, they provide a smooth experience of stocks trading.IIFL Securities is the one-in-all solution for all yourFinancial queries.
#5


In the next topic @BinhAutoDat shares his experience how he found his broker.

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#6

How did I choose my broker? I read a lot on forums, read about identifiers and then started looking at demo accounts. As a result, I chose binomo and try to improve my results from week to week.

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#7

While choosing your stock broker, you should consider the following:

1- How much do you know about trading

2- Do you want to opt for advisory services too

3-Will you be trading online or prefer to have a broker handle your investments

4- Are you looking to trade regularly or just from time to time

5- Will you be placing day trades or delivery trades or both

These are important questions because of a number of reasons like, not all brokers charge the same fees. Also, not all brokers provide advisory services which also impacts the brokerage they charge. There are also aspects like the ease of trading. So some brokers have sites that may be more difficult to use for those that aren’t too tech-savvy and don’t know much about trading. Some brokers have very simple platforms and so trading is much easier even if you are a rookie at trading. So instead of looking at broker rankings, use the above points to filter your broker choices. Like for a beginner sites like HDFC securities & motilal Oswal can be a little complicated while brokers like Upstox and Zerodha are more user-friendly. Also Motilal Oswal charges a lot of brokerage fees so you can end up spending a lot but Upstox is very pocket-friendly as it allows you to place delivery trades for free and charges a maximum of 20 rupees for every trade in intraday and futures and options.

I for one have been very reluctant to learn about blockchain and the market luckily I have seen how it simply affected the stock market, take BTCS for example. They are a blockchain technology focused company, which has announced that The Nasdaq Stock Market LLC has approved the listing of the Company’ common stock on The Nasdaq Capital Market (“Nasdaq”). The Company’s common stock which began trading on Nasdaq under trading symbol “BTCS” at the open of the market on Tuesday, September 14, 2021.

BTCS joins Nasdaq at a time when the digital asset market has reclaimed a total market capitalization of greater than $2 trillion. The Company generated $453 thousand in revenue for the first six months of 2021 and through timely purchases of Bitcoin, Ethereum, and other cryptocurrencies, BTCS has substantially grown its digital assets over the last year.

#8

The first step is to check the background of the stockbroker and their reputations. Know your needs before you start your investment journey, take a moment to check in on what’s most important to you in a trading platform ,you should have a clear idea of what your investment goals are and what basic services you’ll look for in your ideal brokerage, it’s time to whittle down your options a bit. The Stock broker firm should have a pretty decent description of what kinds of tools and resources their trading platform offers.If you are ‘not’ planning to invest on your own and need an advisory/ research report, and a medium like trading app to make your online investments.

#9

Really good tips for me. i will use it. Subscribe to your channel too.

#10

One of the ways I choose a broker is to look at their service, track record and above all the brokerage which they charge. All these things need to be considered when you will be associating them for the long term.

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