Compare Brokers

Taxes and transaction cost is something we can only control by either not trading or reducing the frequency and size of our trades.

Fortunately, with competition among brokers, the brokerage costs can be significantly reduced. An average trader can increase his profits by almost 1~2 points (on Nifty Futures and Options trading) by selecting the right broker. So if the average trade size is 20 lots of Nifty, the brokerage cost with traditional broking company would be INR 50 per lot and lets say a trader is buying and selling Nifty 25 times every month. Illustration to compare brokers:

The brokerage cost with traditional broker would be:

= 20 (# of lot) x 50 (brokerage charged per lot) x 2 (buy and sell side) x 25 (# of trades per month)

= INR 50,000 per month (brokerage expense with traditional broking company)

In the above example, the trader has saved 98% of brokerage cost and increase his profits by 49,000 per month.

If you are still being a victim of the high brokerage charged by “Traditional Brokerages”, it is time to change. Identify the right brokerage for your needs or you can select the right broker from the below list.

*NiftyTrader being a premium portal for traders, most of these brokerages have waived off the account opening charges for niftytrader.in visitors.

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BROKER NAME	BROKERAGE	ACCOUNT OPENING CHARGES (NORMAL)	SPECIAL OFFER FOR NIFTYTRADER VISITORS	OPEN ACCOUNT
	INR 20 per trade	INR 250 for trading account	Lifetime Free Trading Account	Open Account
	INR 20 per trade	INR 200 for trading account	Lifetime Free Trading Account	Open Account
	INR 20 per trade	INR 300 for trading account	Lifetime Free Trading Account + 1 month free trading	Open Account
	INR 9 per trade	INR 200 for trading account	Lifetime Free Trading Account	Open Account
	INR 18 per trade	INR 400 for trading account	Lifetime Free Trading Account	Open Account
	INR 15 per trade	INR 200 for trading account	Lifetime Free Trading Account	Open Account
	INR 15 per trade	INR 750 for trading account	Zero Account Opening Charges	Open Account

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From the traders perspective, we have tried to compare brokers on the following parameters

• Brokerage
• Ease of Use
• Software for various platforms
• Day trading cut off time
• Ease of Fund Transfer
• Other investment Options allowed such as IPO /Mutual funds allowed

Below is the description of these points for the newbie investor.

Brokerage:This is one of the most important thing which you should see before becoming a customer of any broker.This is one thing which will decide the amount of profit you are making and in the long run in trading believe me that this will be one of the most important thing. All the above discount brokers fare well on this front.

Ease of use : The user friendliness is the second most important aspect. With time, you can get used to the platform but it is always a good idea to go for reliable, fast and robust system.

Software for various platforms:We are living in multi-device world. If you are on the move and still want to be able to manage your position, you should also consider the trading platform for your android or iphone device.

Day trading auto square off time: Some lazy brokerages want to close your positions quickly. They won;t tell you about it at the time of opening account . this will surely be a surprise if you talk to their representative. Better to go for brokerage that squares off open positions later in the day.

Other Investment Options:Is the broker providing only equity trading or also providing Debt/Bonds/IPO/Mutual fund through the site.It always good for a retail investor to get all in one platform so it become easy for him to manage.

Ease of Fund Transfer:This will decide when you will get the money in your bank after it is received in your Demat account and which are the bank through which you can link your account.

Major Full Service Brokers in India

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BROKER	BROKER NAME	ACCOUNT OPENING	BROKERAGE	INTRADAY	OPEN ACCOUNT
	Angel Broking	Rs 350	.50%	.06%	Open Account
	Axis Direct	Rs 999	.50%	.05%	Open Account
	Anand Rathi		.50%		Open Account
	Bonanza	Rs 600	.50%	.05%	Open Account
	Geojit	Rs 800	.30%	.03%	Open Account
	HDFC Sec	Rs 999	Higher of 25 or .5%	Higher of 25 or .05%	Open Account
	ICICI Direct	Rs 975	.55%	.05%	Open Account
	IDBI Paisa Builder	Rs 700	.50%	.08%	Open Account
	IIFL	Rs 1350	.30%	.05%	Open Account
	IndiaBulls	Rs 750	.50%	.05%	Open Account

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