For the traders who love to trade in the stock market, it is important to get an account with a broker who can offer quality services in terms of trading and others. A trading account, as well as demat account, is must to have with every trader before the beginning of the trading in the market. Many stock brocking companies and their franchisees are there who can help the clients in best possible manners. The traders can go for any of the accounts as per his requirement where one can have an online or offline account.
A broker is a person who runs the franchisee of a broking company or has a license from SEBI to offer the broking services to different clients. One can get the account opened with any of the top 10 stock brokers in India. They are known for their customer care, fast process, and research that can help the clients to carry out the trades effectively.
The trader can go for an offline account where the brokers have terminal operators who keep on monitoring the market movement. They are available on phone lines where the client willing to have any information about the live market or place any order can call. Here the client can call and provide his account id that can help the bolt operator place the order as per the instruction. He also sets the limit for profit booking and stop loss as per the instruction of the client. In short, the clients who cannot trade on their own can go for an offline account where the operator can be of great help.
For those who have a computer and internet connection can go for an online account where they do not need to have the support of an operator as they can do the trading on their own.
For any broker, the brokerage is the prime source of profit or income. The rate of the brokerage can be fixed as per the concerned rate at which the client and broker agree. In some cases, there is also a lump sum amount on every trade charged as brokerage. Some of the brokers charge it in advance while some go with the trading only. Hence it all depends on the concerned broker and client on which they agree. Usually, as for a trader, the brokerage is an expense or charge, and hence one needs to keep it low. There are a few brokers in the market who also offer a low rate of brokerage is they can see that the client is a cream one and with a small compromise in brokerage he can have more profit also. In case the business is new, or in a new area, the broker may launch a scheme with low brokerage plan so that he can have more client base in a short span and the business can be driven as a profit-making unit. Hence it all depends on the situation of the client and business to have a better brokerage rate.