It can get a bit difficult especially if you are entering the market for the first time, selecting a stock broker i.e. there are certain key areas which you can consider and then narrow down to the preferences that suit you well.
First, you need to ask yourself these questions,
Are you willing to learn from scratch?
Are you a Trader or Investor?
Will you trade on your own?
These questions are fundamental for arriving at the right broker for you.
Brokerage and Other Charges
First things first, check if the brokerage charges are comparable or significantly higher than other brokers. There are brokers who charge you as high as Rs.1500 for account opening and maintenance charges while there are some which are offering Free Demat Account opening (Eg. Choice Broking) Some brokerage house charge a percentage of trade value (Eg. Full-Service Stock Broker) and then there are flat rate brokerage houses (Discount Broker) who will charge you a specific brokerage rate irrespective of the volume.
Also, you need to make sure there are no hidden charges. Every type of charge levied is explicitly mentioned upfront. Request the broker to provide all the charges over email so it can be very transparent from the start.
Trading Platforms
The next thing to look into is the trading platform. This is important if you are going to do the trading by yourself. Most stock brokers provide some sort of trading platform but only a few ones are seriously working on the quality and execution of their trading platforms across devices.
See if the stock broker is providing some sort of innovation in their tr