I found some messages by members where they asking about-margine,brokerage,service. But there are lot of contra views given by various members,so instead of helping them in to find good broker it results in to create big confusion.
So i decided to post my views on this subject,may it help u in ur decision.
U need to decided whether u r going to trade ON-LINE or through ur local sub-broker (off-line).According to me u should go off-line if u r new in market.Bcoz ur sub-broker may guide u in this early stage.
Now most important thing in this is-HOW TO FIND GOOD SUB-BROKER. or guide on initial stage.The most important criteria which u want to apply that is-EXPERIENCE.
In last 3-5 years lot of new sub-broking firms opened by MBA/B.COM passed students as well as by those who dont have even any primary knowledge of mkt. And i saw that how traders suffered by immature advice from their sub-brokers.So when u select sub-broker pls. see that he is experienced and have a good knowledge of mkt.
Share trading is very serious business,dont open an trading a/c only bcoz ur friend or relative start sub-broking firm.It may bring hurdles in relation-ship.
DECIDE WHAT U R???
Now u want to decide urself that-whether u r investor or trader???
If u want to remain in mkt as investor then good experienced sub-broker is ur only criteria.If u got that then u can go with him.
But if u want to become an active trader then only good experienced sub-broker is not enough.U need to look other factors like- Brokerage, margine,exposure.
0.50 paisa for DELIVERY & 0.05 paisa for intraday as well as f&o.50 to 100 rs. per lot for options, Is the common brokerage for retail trader.
But some new brokerage house who want to create their client-base are offering very cheap brokerage rates.But with these newly opened broking houses there is problem of margine.Except Rmoney.
Now most of broking house offer various broking plans depend upon ur trading volume.So u can consult with ur broker if u think ur brokerage is higher than ur volume.U can bring it down to 0.10 paisa for delivery/0.01 paisa for intraday & and 10 to 50 rs. per lot for f&o.
But i repeat here volume is only one criteria which all broking house applies.
Here company policy is supreme.But common thing is all broking houses dose not allow much margine for new clients. But if broker satisfide with ur deals then he can offer u margine which needed.
SOME BROKING HOUSE WHICH ARE TRADERS FRIENDLY-
(i know here some members are sub-brokers for various broking houses,they may have different views on this post. But i write this thread as an active & experienced trader in mkt. i have experienced from most of leading broking houses.And another important thing is i m not connected with any of abv mentioned names directly or indirectly. so before taking any decision consult with ur friends/relatives.)