5 Reasons why to move to Discount Share Broker

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5 Reasons why to move to Discount Share Broker

Changes are always hard, but you will see the results after sometime. It's difficult to identify the right online broker to work with, and the process of selecting the best one for your needs can be hard to navigate. Should you go with the broker who claims the best customer service, the one who offers the most advance tools or the one with the fastest trade execution. Plus, fees are hidden in various pages of companies websites, and it can be nearly impossible to figure out which ones apply to you.
Switch to Discount brokers and Save up to 70% on your brokerage fees.....
To get you started, we want you to learn some interesting facts about discount brokers we think every investor should know about.

    1:Low and Simple Brokerage that can save above 70 to 90% of your brokerage

    Many investors are overpaying their brokers because they don't know about all the discount brokerage services available to them. A new study found that around 4.8 million active client on NSE, approx. out of which 50% are with five largest full-service brokers are throwing away over 70% to 90% in unnecessary fees or brokerage charges. Charges from these brokerages are on % basis and increases with the volume and number of trades.

    As discount brokers have centralized majority of their operation online with minimum operating branches which means No branches = great rates.They are directly providing the benefit of low operational cost to their customers, by providing the low brokerages fees.

    The brokerage you pay in flat fee share model is undoubtedly low and simple. With flat fee stock brokers or discount brokers you know your breakeven point upfornt and can save 70 to 90% in share brokerage. Moreover,the discount brokers offers no minimum brokerage trading which means you don't have to pay the minimum brokerage set by the trader in case the total calculated brokerage is below that certain amount.

    2:Top-notch Services for a better price

    For the services, most investors expect a best quality, we found that they could be more affordably by technology used by discount broker. Almost all discount brokers are providing reliable mobile apps, multiple online trading platforms, real-time data and analysis software. All trading platforms like website, mobile app and trading terminals are free to use.Their customer service is no way less as all the discount brokers are providing 24*7 email support, some have live chat facilty, reply to comments on regular basis and phone support during working hours.

    Documentation of recurring problems/questions and preparing a common platform for FAQ/support questions are best advantage of online broking, now you dont have to wait for phone call, you can find your problem solution online on support portal. WIth this you can save time and effort to fix your problem in "Do if your own" model.

    With our analysis on tools and platform used by discount brokers, they are pretty competitive with full service broker which means you are getting equally reliable trade execution services at practically the same speed with the lowest cost possible.

    3:Be your own Boss

    As we know that discount brokers or flat fee share brokers offer services online through one centralized location mostly, you cannot visit their office branch practically. In that case, all your operations are online and you are your own boss.

    You don't have to consult with a broker, wondering all the while if his recommendations stem from his best interests or yours. You choose your own transactions, giving you a level of freedom and control you won't find in the brick-and-mortar brokerage firms. Trading online, you'll be able to access your account around the clock, though market hours remain the same.

    4:Switching to discount brokerages pays for itself in just months

    Already have a brokerage account, or maybe several? If you want to change accounts or wish you'd made the switch earlier, it's never too late or too tough to switch brokers. By switching to discount broker with the minimum or fixed brokerage plans, you can save around 70 to 90% on your brokerages charges.

    Changing brokers can be a hassle, start with lots of transition, paper work, learning new tools and platform, setting up new account, linking bank accounts. However, going to the effort of changing brokers is worth the trouble and it really can pay off in just a few months.

    Around less than 5% of investors are with discount brokers and are paying fix brokerages/ discounted brokerage/ flat fee brokerage charges. Zerodha, 5paisa, Upstox, SAS Online, SAMCO, Prostocks are the discount brokers to name the few.

    Brokers like Zerodha, Upstox providing Free delivery trade, so if you are an Investor, you will get Zero Brokerage charges.

    With commitment of Low brokerage/fix price brokerage charges, discount brokers are spending more on trade execution and technology, but reducing expense on advertising and general expenses.

    5:Look beyond the Brand Names

    Just as you would if you were trying to save money in the grocery aisle or department store, shop around for affordable alternatives that don't sacrifice quality. Taking the time to compare brokerage costs and consider lesser-known alternatives could save you boatloads. Investors can use TopShareBrokers reviews to find out brokerages and determine the best fit for their unique investing needs.

    Many investors have multiple brokerage accounts. With no minimum balance option with almost all the discount brokers in India, you don't have to do all your trades with a single broker. You may choose to have one account just for the tools it offers, another account for analysis and investments in penny stocks, and yet another for trading larger equities.

Last updated on 19th Dec 2018

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User Comments

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1. Shriyansh Singh  Dec 19, 2018 11:53:44 AM IST Reply
I was using ICICI Direct from last 10 years as Investor, last year I moved to Zerodha, good service and now I love to do my own trades. Kite is very helpful and easy to do the transaction.I have not seen any major difference in how to operate Kite mobile app, Its easy and simple.






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