Finally, you are about to make a foray into equities, and you are about to open a trading account or a demat account with a broker. Before you go on to sign up with a broker you need to have an overview of the quality of services, they go on to provide. Some might zero in today’s market news that might be of help in your day to day activities. In the midst of this, there are certain basic services that you can expect from a stockbroker. All of them do require a basic effort from the end of a broker but contributes a long way in enhancing your experience as a broking client.
Research calls along with trading ideas
If your broker is a discount broker, then do not expect research or trading ideas as they go on to provide you with a discounted brokerage. On the other hand, if you are dealing with a full-time broker you need to insist on research calls along with trading ideas. Yes, you may or may out follow these ideas in total, but you need to insist that the broker provides you with a colour of the market. For key indices trading levels and how you are going to put money into stocks. You could even ask your broker to share the performance evaluation of the previous year calls coupled with trading ideas.
The trading platform is to be robust
Are you planning to trade over the phone or even the internet, you need to stick on to a robust trading platform? It has to provide seamless connectivity with your demat account or be it the payment gateway. The platform needs to be such that placement along with the execution of orders id undertaken crisply. Even if the trade engine goes down a broker has to have a back- up plan ready. Though internet trading is simple and provides you with a lot of control. Figure out the robustness of the trading platform before you go on to sign up with a broker
A back up followed by call and trade service
The machines might have the best of technology, but things can go wrong. At 3 pm you do not want to open the trading terminal and find out that things are not going as per plans. There needs to be a quick back up plan ready. Do check whether the broker has a call-up facility where you can verify yourself and place orders via phone. This ceases to be an important feature when the system is prone to violent fluctuations or during the closing hours of trade.
Remedial measures coupled with portfolio analysis
The nature of trading is that even the smartest player’s end up making mistakes. Sometimes the market could become volatile or there can be a paradigm shift in certain sectors. Even in certain cases, you might figure out that your portfolio carries a huge risk of loss. An obvious fact is that you do not want a broker who simply washes their hands away. To ensure that the broker can provide you with portfolio analysis and how to salvage your loss-making positions. At this juncture, the extra degree of services from a broker comes handy.
Financial planning at a holistic level
Now why there is a need for holistic financial planning from a broker. Be aware of the fact that trading in equities is never an isolated task and the moment you do so it paves way for better asset allocation. This asset allocation is formulated by a financial plan. If the broker goes on to provide holistic financial planning, then it adds value to both of you. As per the stock market news today, the entire financial products are at a single place. Even for an investor, they do not have to worry about multiple investment hassles.
The brokerage rates have to be competitive and on intraday trades, leverage has to be provided
It is not expected that the broker is going to provide you with all services at zero cost. Do make it a point that the broker provides you with competitive rates. This works out to be the case of intraday trading or options trading where there is a huge chunk of money involved, and every single penny matter. You also have to take into consideration that the broker goes on to provide you with the best of leverage facility. This would be in options or future as you have to follow the exact rules.
A service broker is a one-stop solution for your investment needs
Most broking businesses tend to be automated in nature. This goes on to add value as a human interface with your broker. Most brokers go on to allocate a relationship manager to clients who do become a contact point for all customers. The person works out to be a vital cog in the wheel as it acts as a linking point between a broker and an individual. The best part is that they can go on to identify red flags and pinpoint the issues that could seem to be a cause of concern. The only point you have to bear in mind that the choice of a service broker has to be best among the lot.
Now, which is the best paper from where you can obtain all current financial information? Business Standard is the name that comes to the fore. This is, in fact, a property of Business Standard Private Limited. A mere flip through the website would showcase the fact that it goes on to attract 10 million visitors every month, and this is the highest as far as any financial paper in the country is concerned.
There is an e-paper version that is published from 12 centres all over the country. No wonders to the fact that this works out to be a serious reading choice for millions of readers all over the country. The paper is rated for its superior levels of accuracy and credibility.
