Monday, September 23, 2019

Tips to choose a broker if you are a first time investor in the stock market

The task of choosing a stock broker if you are new to trading is not an easy task. The choice of a quality broker also means you have to choose the best demat account for beginners. Both these accounts are managed together. Now you need to work out which company provides you with the best of both accounts. Let us not get into specific brokers, we have to analyse the factors or parameters that enable you to make the decision easily.

Does the broker have a reasonable name in the market?

Before you go on to choose the best share broker in India, a point to certify is that they need to have a reasonable reputation at the market place. You can talk to the investors or traders and discuss their view points about a specific broker. As supportive arguments you can check out supportive websites along with news reports. The brokers would be able to provide you with reasonable advice on the best demat account and exercise proper choice as far as a stock broker is concerned. The manner by which a stock broker treats a beginner in the market will give you a fair idea about their broker model.

The ads on that the online trading platform provides

When it comes to the best online trading platform for beginners they should be able to complete the trade process easily. It is all about execution, analysis along with research. Now the question is does your brokerage firm provides all these features. The broker should provide you with a combination of all facilities. In addition they have to levy a low rate of commission and no hidden costs should accrue.

In the choice of a broker the main criteria is the brokerage levied. Yes no broker can provide you with zero brokerage but the rates have to be competitive. This ceases to be a cost that the broker provides you for their services, but you should also gain a true value of your money. The most important pointer is to check out for hidden costs. There are some companies who go on to levy download charges, email charges etc. Give due consideration to such type of charges levied. Do opt for a brokerage structure that provides you with a true value of your money and works out to be as transparent as possible.

The follow up services that are provided by a broker really work out to be important. When the client is stuck at cross roads it is all about providing valuable information to them via a SMS, email or even phone call. Would the broker go on to provide pick up services if the internet lines break down. The most important quality with a broker is risk management.

Last but not the least the broker should offer a one stop solution for all investment related products. Multiple products need to be part of their product basket.

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