Tips to choose your stock broker

If you are new to the stock market, one question that comes to your mind would be how to choose the right stock broker. In this article, we will provide you with insights to choose a right stock broker

Reputation and Background of a Broker

Before opening a Demat and trading account with your stock broker, it is very important to do background research on the stockbroker. You can go to trading communities like Tradejini or Tradingqna to find reviews from customers and also use Google reviews to narrow down your search

Out of a large list of brokers narrow down of few to move to the next step

Local presence

Check if the broker you are preferring to open an account with has a local presence. These days online platforms and online trading seems to be the trend for the day. But still, take time to visit their office

Customer Services

Customer service is a very important parameter in choosing your broker. While you visit their office, how they greet you, how they follow up on your account opening, and how honest are towards their commitment all matters. One must understand the stock market is not a place where you can turn rich overnight, so never fall for any fake promises made.

Ask them how are they going to resolve problems if they have.

Broking charges

With lots of competition around the corner, the broking industry these days has moved to discount broking. So choose a right discount broker

Trading platforms

A trading platform is software provided by the broker. Gone are the days when a trader or investor in the stock market has to pay for trading terminals. Today it is about mobile apps, so when choosing a mobile app or a trading platform provided by the broker ensure it is user-friendly. Ask the broker to explain the features of the mobile app or trading application.

Research and Advisory

Many brokers offer share market tips and advisory services to their customers. If you are to receive advisory services from your stock brokers ensure they are SEBI-registered advisory.

Education/Learning

See if your broker can help you with free training in the share market. This helps you to gain the initial knowledge required to be successful in stock markets. You can also try our ART OF BALANCING COURSE to start your stock market career.