Beginners Guide - Top Stock Brokers in India 2022 - Charges & Market Share in NEW TO TRADING & INVESTMENTS? - Indian stock market brokers have been broadly categorized into two main parts
Full service brokers
Discount brokers
Full Service Brokers
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09-15-2022 04:28 PM
Top Stock Brokers in India 2022 - Charges & Market Share
Indian stock market brokers have been broadly categorized into two main parts
- Full service brokers
- Discount brokers
Full Service Brokers
Full-service brokers are the traditional brokers. They are licensed brokers that provide a wide range of services to their customers, including investment advisory, portfolio and wealth management, and research services. With the passing of time and the advent of technology, full-service brokers these days provide their services both online and offline.
Ex:
ICICI Direct, SBI Securities, Angel Broking, HDFC Securities, Sharekhan, and Kotak Securities.
Pros- They provide their customers with dedicated relationship managers who help and guide them in realizing their investment needs.
Cons- They charge a higher commission than discount brokers because of the many services they offer.
- The transaction costs in full-service broking is usually high
Discount Brokers
Discount brokers just provide the trading facility for their clients. They do not offer advisory and suits for a ‘do-it-yourself’ type of clients. They offer low brokerage, high speed and a decent platform for trading in stocks, commodities and currency derivatives.
Ex:
Zerodha, 5paisa, Upstox, Groww, Fyers,etc.
Pros
- Lower commission charge on their services.
- The transaction cost involved is low.
- Since they do not offer investment advisory services and are not interested in selling any third-party products, discount brokers provide unbiased services to their clients and do not mislead them.
Cons- Discount brokers do not provide any portfolio management services either.
- Discount brokers do not provide advisory services. They do not report on companies or make trade calls to their clients.
- Since most of the services are provided online, discount brokers lack a personal touch. They do not offer customers with relationship managers to help and assist them.
Top 5 Discount Brokers:
Top 5 Full Service Brokers:
Ref: NSE India
Charges of Top Discount Brokers:
Zerodha Charges
Upstox Charges
Groww Charges
5 Paisa Charges
PayTM Charges
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09-15-2022 04:28 PM
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