The Best Full Service Brokers in India

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The Best Full Service Brokers in India

Here in this article, you will know what a full-service broker is, the features and services offered by full-service brokers when to choose a full-service stock broker and then the list of the best full-service brokers with their active client list to choose one out of the best for your trading requirements.

A good stock broker is essential for all types of traders in the stock market. And that is when the quest for the best brokers begins. If you are a new investor, then the features offered by the full-service stock brokers would help you a lot in trading. However, if you already have a lot of experience in trading, then your aim would be to save money by lowering your trading cost. Then discount brokers would be a good choice for you.

Full Service Brokers

Traditional full-service brokers do more than just facilitate the buying and selling of stocks. These brokers tend to offer a wide array of services and products including financial planning, investing, insurance, wealth management, portfolio management, research reports, personal recommendations, funding and margins on shares. They have branches and sub-brokers available in many cities for personalized services. They employ a team of researcher and analysts to produce reports on market and stock companies and do fundamental and technical analysis.

Since you are getting personalized recommendations and services, traditional full-service stock brokers often charge higher fees and the brokerage is a percentage based on the volume of trade. The brokerage is negotiable sometimes and goes low as your volume of trade increases. Should you prefer personalized advice and guidance, then a Full-Service Broker could be the right choice.

Features or services offered by the full-service brokers:

  • 3-in-1 Account (Trading, Demat and Bank Account) or 2-in-1 Account (trading and Demat Account).
  • Investment in Mutual Funds, IPOs, Systematic Equity Plan (SEP), Bonds, Government Securities.
  • Offline and Online trading.
  • Margin Funding and Margin against shares.
  • Research Reports, Tips, Recommendations.
  • Additional services like Portfolio Management, Wealth Management, Insurance.
  • Personalized Relationship manager.
  • NRI Services.
  • Depository Services.

All these services come at a cost which you pay in the form of higher brokerage. However, if you are not able to pick stocks on your own, then you can take help of your full-service broker’s dedicated research team and personal relationship manager to help you in choosing the right stock and other investment avenues. It will help you to save yourself from losses.

When to choose a full-service Brokerage firm?

Should your trading needs matches with the following points then it is advisable to choose a full-service brokerage firm for you.

  • If you are a beginner in the stock market then you can make use of research services of a full-service broker.
  • If you are a long term investor then your entire portfolio will be with one financial service provider only.
  • If you want to get personalized service through local branches to assist you in trading as well as online trading services.
  • If you want a personalized relationship manager.
  • If you seek advice, tips, and recommendations before investing.
  • If you want to get face-to-face interaction and customer support for query resolution from your broker.
  • If you prefer to trade by using call-n-trade service.
  • If you want to invest in other financial instruments like mutual funds, IPO, Debt, Insurance, FDs, bonds, etc

The Best Full Service Brokers in India - 2019 (Top-ten Full Service Brokers)

Rank Broker Name Active Clients Rating
1 ICICI Direct 8,55,000 4.5/5
2 HDFC Securities 6,64,250 4.5/5
3 Sharekhan 5,08,000 4.5/5
4 Kotak Securities 4,33,600 4.0/5
5 Angel Broking 4,18,800 4.0/5
6 Axis Direct 4,10,900 4.0/5
7 Motilal Oswal 3,23,500 4.0/5
8 Karvy 2,62,800 3.5/5
9 IIFL 2,11,550 3.5/5
10 SBI Securities 2,07,000 3.5/5

These are also the top-ten largest (in terms of active clients) and most popular full-service brokerage firms in India.

Last updated on 24th May 2019

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  2019-05-19T08:03:20+00:00






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