Choice of the best stock broker as a beginner
The choice of the best stock broker in India is about availing the best demat account for a beginner. Demat and trading account can operate at a parallel level. The choice of the best stock broker and a demat account for investors involves research. One will not get into details of specific brokers, but evaluate factors that would enable a better decision making.
Does the broker have a reasonable reputation in the market?
A subjective issue, but feedback of a market is hard to ignore. Interacting with investors or traders would give you an honest feedback about brokers. Checking on websites and news reports could work as supportive arguments. Figure out which are the best stock brokers in the market for beginners and same policy when it deals with demat account for small time investors. The manner by which a broker treats a beginner in the market gives you an idea about their long term sustainability.
The follow up services expected from a broker?
Consider broker services do not mean mere transactions, it also follow up services. Examples would be providing clients with SMS or calls via phone and providing clients with tax statement and download analytics. Will the broker have a call in facility if internet breakdown is witnessed? Above all take into consideration that the broker has good risk management services. Brokers need to be helping clients, but should not provide them with too much leeway when it comes to bad risk management. Adopt a cautious approach in such cases.
Will the broker provide you with a one stop solution for all your investment needs?
In choice of a broker this is an important point of consideration. Even in choice of a broker for a beginner they need to deal in multiple products like equities, loan products, insurance. The major benefit of a one stop solution is that all your investment needs are taken care at a single point. Rather than selling products, focus is more on advisory services. Even as an investor or a beginner in a stock market, you want tailor made solutions for your needs.
An idea about online trading platform associated with a broker?
The benefit of online trading account is that it allows you to trade from home or office and this is the choice of people. A superior stock broker will provide you accuracy and execute transactions in a simple manner. If a search for logical icons is made it will not add any value. Are you able to execute transactions with a mere 3 clicks as this is what matters at the end?
An eye on the future?
This is what matters at the end as the scenario of stock marketing in India is changing at a rapid pace. If a stock broker sticks to old methods and principles in a long run it will not give you value. The brokers whom you choose should be able to provide you with custom centric solutions.