Keep in mind before choosing a broker

[indinvestor]

Few things to be kept in mind before selecting a broker firm.

1.Brokerage - Involves both intraday as well as positional rates in capital markets.Same goes for commodities.And do double check the brokerage in F&O because it's in here where the brokerage rates varies much from firm to firm.

2.Trading platform and flexibility - It is quite important mostly for intraday traders.Having a good platform with ticker and live charts would help u trade better.Also to keep in mind the flexibility in trading like no. of scrips and to place orders for instance with few brokers u can keep a single open position in buy or short sell;unless it has been traded-off u can't place a counter order.

3.Deposits and withdrawal - Almost all brokers provide an instant deposits options which is in general in lieu to prevent square-off during margin call.But the good part in here is withdrawal when the firms keep money with themselves waiting subject to verification.According to me the best bet would be for instant deposits and withdrawal which can only be provided by banking sectors owned securities firm like ICICI Direct,SBI CAPS etc.

4.Support and grievance redressal - With all technicalities and reputations in place there is always a scope of wrong brokerage or delivery charges being levied on investors.In this case the speed on delivering such redressals must be the foremost priority.

 

[Elliot Miller]

Completly agreed,

Especially in the withdrawal, that's why i trade on Vault Options, the offer instant withdrawals, and this is how i understand it, if it took you minutes to fund your account why shut it takes days, and some times even weeks to take your profits out right?, well in Vault Options it doesn't excellent service plus instant withdrawals makes the difference for me.

 

[Paul Cruza]

You need to research and review brokers and then opt for one that suits your requirements best. I use Trader's way, FXCM and Alpari..all three are good [for me] but you need to do the research and select one that you think is the best.
And try checking independent forex broker comparisons as opposed to one that's hinged heavily in favor of one broker or two..:clapping:

 

[duderex]

Search thoroughly the broker you going to trade with. Check their bonuses, offer and everything they have. Make sure your broker has good review on it. If it is not, try to see how it responses to the review.

 

[nishishah]

I think when we are looking for a broker we might also want to look at the services and benefits a trader would get. I would be interested to know if any of your brokers have offered you any unique services?

 

[rohit_onkar]

I think the brokerage that is charged is an important factor especially for me, has someone heard of a flat fee irrespective of the volume of trade. I would be very interested to find out.