Top 3 Tips to Compare Online Share Brokers in India

by Aisha Sharma SEO executive

The key to success in the stock market is being able to find the best stocks. For a layman who has just entered the world of stock trading, this may be a bit complicated. Therefore, taking help from an experienced stockbroker with an expertise in this field is the best way to debut as a stock market investor. After all, guidance and right information are non-negotiable where money is involved. So, to be on the top of your game, it is important that you compare stock brokers online and zero in on one that suits your requirements the best. Here are a few tips to help you do this well.

Have clarity

Being clear about your goals is the first step as it will give you an idea about what kind of broker to look for. For example, if you plan to day-trade, then you will have to look for a broker who has good options for pricing. Similarly, for short selling stocks, you will need to find a broker with a good shortlist. Reading about how stock market works will also help add to clarity about a trading strategy that you should be having before you start looking for a broker. You may start with an app like Varsity Mobile, an app that offers in-depth information on the stock market in the form of bite-size cards so that you can learn on the go.

Shortlist the best

Go online and list down all the prominent stockbroking platforms that you come across. Now, visit each site and check the services offered and how suitable are these to your investment goals. Most online platforms offer AI-based intuitive products that report and analyze essential information such as market analysis, predictions, and simplified reports in the forms of advanced charts. The basic checklist should also include best intraday stock pick, best stock of the week, stock of the day, and stocks suited for short-term and long-term gains. So, choose a few best online share brokers, compare their features, and pick the best in terms of features, user interface, language, and other related services. You should also check reviews and testimonials posted online, both onsite and on other review websites. If there are no reviews pertaining to a particular query that you may have, contact the support staff of the online trading platform. You may also post a question on platforms like Quora and Reddit and seek answers from both experts and experienced day traders.

Price

There’s a reason why the price has been mentioned as a separate point in this list. Sure! You do compare prices when you compare online share brokers, but going with the lowest price being offered isn’t what you should be following. Consult any experienced stock market investor, and he or she will tell you that it is alright to pay a bit extra if quality services and guidance are being offered. This makes sense as it helps you save money in the long run instead of saving a few thousand bucks in the beginning and then losing out on the potential gains later.

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