When you open a demat account, it is important that you select the best broker in the market. However, selecting one broker out of the many can be a tricky task. To assist you in this regard, we have listed down a few tips that will help you in selecting the best demat account broker.
Tips to Select Best Demat Account Broker
- Reputed Broker
You must prefer opening a demat account with a reputed broker. Consult the traders and investors in the market and take feedback about the reputation of the broker. Look at the information available on the internet and newspapers regarding the best broker for beginners in India. All this analysis will help you in selecting the best broker in the market.
- 2-in-1 Account or 3-in-1 Account Services
To overcome the procedural compliance relating to trading and demat of shares, select the broker that provides 2-in-1 account or 3-in-1 account. With these types of account, the transfer of funds from the bank to the demat account can be done seamlessly.
- Online Trading Platform
Technological advancements have made the online trading facility a must have for a demat account. Before opening a demat account with the broker always check the simplicity and speed of the online trading platform. Check if the online software is easy enough to work with and serves the purpose of online trading without any hassles. Ultimately, open a demat account with the broker who has the best online trading platform.
- Add-on Features
When you are looking for the best demat account make sure that the broker provides the add-on features on the online trading website. Features may include short term trading tips, long term investment ideas, charts and technicals of the stocks, etc.
Brokerage charges are one of the most important things to compare before selecting a broker. Select the broker that offers competitive rates along with the services you require. Also, check that there are no hidden costs involved.
- Follow Up Services
The best demat account is one where the broker provides the follow-up services to its clients. Select the broker who is always available at your assistance whenever you are stuck at any point of time. Also, check for back-up services like call-n-trade when the internet services are down.
The above mentioned are a few tips to select the best demat account broker in the market. The more you will research about a broker, the better you will find.