Stock members tend to be members of a stock exchange. Nobody apart from them can go on to buy or sell shares in a stock market. An investor has to get in touch with a stockbroker enabling him to buy or sell stocks. For the service that they provide brokers are liable to charge a fee termed as brokerage. In fact this works out to be a percentage of the value traded.
In India, there are two major stock exchanges, the national stock exchange, and the Mumbai stock exchange. Apart from that, there are small stock exchanges like Cochin stock exchange, etc. So as to choose the top 10 stock brokers in India the best option is to check out referrals. It is possible to figure out why people have gone on to choose a particular type of broker and the reasons they have gone on to stick to them. Ideally, it is better to choose a broker about whom you have heard good things.
A popular one may not be the right one
Certain types of brokers is geared for regular traders or professionals. On the other hand to suit the beginners they might be a class of brokers. For a novice trader it is better to go for beginner-friendly brokers. The popular brokers might have a list of high network clients with them already. So once they go on to attend them your best interests would be compromised.
Brokerage
Most brokers that people end up selecting offer low brokerages. Trust me this is not the yardstick when you are choosing a broker. A broker needs to understand your preferences your likes along with dislikes, the risk profile and personalized tips can be provided on the basis of that information. Now this in no way means that you should negotiate on the brokerage part. You should negotiate and the commission has to be reasonable.
Is the broker forcing you to purchase stocks
Stockbrokers tend to be service providers. They tend to be in this line of business to make you wealthy and some of them feel that they should be buying or selling stocks. In fact, for them money-making is an accidental task. Whatever a stockbroker has to discuss with you, they have to remember you are their client. The final decision rests with you. if you are not comfortable with any of their decision you can inform them and they are bound to respect the decision. If they go against your decision and compel you to purchase stocks, then you need to choose another stockbroker
Ascertain the skill sets of the broker
A top notch broker would analyze your risk appetite and based on that would provide you with viable decisions. They have to explain to you in simple terms on why a particular stock is good for you. in fact the fundamentals of investing would be explained in detail before you purchase stocks.
