In order to make money in the stock market you need to have a broad outline about the subject. The choice of a broker is also important as they make or break a scenario. But with the market flooded with brokers the choice of one seems to be a really difficult task. Just go on to classify the brokers into various styles and this makes it relatively easy to choose a broker as per your choice. Before getting into the details of a broker let us figure out the various broker types
Pretty much as the name suggests a full-service broker provides complete service to the clients. The moment you open an account with a full-time broker they are going to appoint an account manager to work with you. These managers are going to spend some time to understand more about your financial requirements. On careful analysis they are going to formulate an objective plan based on your needs
Updates about your trading stocks and which are the services you need to buy and purchase will be provided by them. At the same time any transactions which you instruct your manager they will guide you and advices will be provided on the basis of outputs.
The main benefit of such a type of broker is self-explanatory. Having a person beside you to guide you about stocks would be invaluable if you are a newbie to the stock market. This is a platform where money vanishes at the drop of a hat. On the flip side someone to guide and advice you do not come free of cost. You need to pay them hefty commissions. Just keep in mind that such type of brokers are ideal for someone who is new to the line of business and newbies do not have a large volume of money to trade.
The choice of the best discount broker in India is pretty much a straight forward process as fewer hassles are involved. They are going to execute any trades on your behalf and this is as per your instruction.
In case if you go on to have an account with a discount broker, the chances are high that you will not be having any personal interaction with them. They are going to provide you access to an online platform where you can trade stocks. The top-quality discount brokers make this process simple and hassle free as far as possible.
The major benefit which discount brokers have in comparison to the full-time brokers would be the commission structure. The commission are likely to be much lower as the broker just goes on to providing you with a basic service. In addition to this there are going to be less fees in terms of additional deposits.
There are some discount brokers who levy attractive commission for traders who engage in mammoth transactions. This works as a beneficial measure to both the parties.