The profit-making on the stock market is always a dream of every trader. However, it is not that easy with trading as there are lots of factors one needs to consider before going for it. The trading and Demat account are mandatory for the traders in the market. There are lots of broking companies in the market with whom one can open the account. The stockbrokers are also a good medium to open an account with and carry out the trading. The people who want to enter the world of trading needs to consider few of the things before going further in this sector.
Here are some important aspects or factors that one needs to check.
- The account charges: As said earlier one needs to open a demat and a trading account before starting trading. The trader needs to submit a few of his documents. The documents include identity proof and address proof as well as a cancelled cheque. One needs to see that he check the rates of brokerage as well as annual maintenance charges. To have an account with a leading broker one needs to check top 10 stock brokers in India.
- The brokerage: The brokerage rate is the most important part for the trader. The trading can be of two types which are known as intraday and delivery trading. The broking charges for delivery are different,and intraday are different. To know the best rates from a broker and get the discount rates one needs to inquire with a few of them and seal the deal with the one who can offer the best rates.
How to get the best brokerage rate?
There are several factors that can help the trader to get the best of the brokerage rates. He needs to prove that he is a trader with large volume and hence even if the broker offers him a discount on brokerage still he can earn a good amount. He can also prove that he prefers to go for an online account where he will not ask for any help from the branch unless there is a trouble beyond his control. In such case, the broker may consider his requirement and offer him a discount on the brokerage. The client may also refer a number of other people who may offer an account with the service provider,and in such case, he can surely offer a discount to the brokerage. In some cases, the client is ready to offer advanced brokerage also. Hence the revenue to the service provider gets generated,and he may not have any problem with offering a discount to the brokerage. A client may also induce the broker to offer low brokerage rate as he may be issuing a large cheque for the margin money. Hence there are many avenues where the broker may also have to think if he wants to go for a permanent low brokerage or low client base which can be increased in a long time.