The choice of a top stock broker is not an easy task as a lot of permutations along with combinations come into play. In the choice of the top broker there are some parameters that you need to consider
The variety of investments on offer
The tastes of people are different when it comes to investing. Some might like to invest in commodities whereas in case of others it can be equities. You need to narrow down your investment options and figure out what the stock broker has to offer. In case if you are planning to invest in mutual funds you need to figure out what are the types of mutual funds that are offered by the brokers in due course of time.
The process of transferring funds
If you are planning to open a demat account with a stock broker they are going to provide you with a 3 in 1 trading account and there is no need to worry about fund transfer process. On the other hand if you are opening an account with a non-stock broker then you need to worry about amount transfer as it dries on to your trading account. Most of the stock brokers have online affiliations for fund transfers that could prove to be hassle sometimes.
Online or physical presence
A natural perception is to have a physical meeting with the broker as these discussions are based on the understanding of your financial needs. The brokers help you formulate a portfolio over a given point of time. At this point of time the physical presence of your broker and even the region comes into play. The discount brokers are not going to provide you with this feature though this could be one of the major selling points of a full time broker. The reputed names in the business have a network of franchises all over the country.
The performance of the trading platforms
With the world moving digitalization online trading platforms are coming towards the front, when it comes to deciding the choice of a stockbroker. Though a few brokers still tend to rely on the traditional modules of operation, while a majority of them choose the digital mode. To such an extent that some of the brokers have gone on to come up with innovative features on their trading platforms. The rates of brokerage are not charged on the trades you execute but on the basis of the trading platform. In case of some traders there might be more expectations, so do keep these things at the back of your mind when you are choosing a broker.
To sum it up during the course of choice of a stock broker, customer service is really important. This is more than solving administrative issues as it involves complete resolution with low turnaround times or even customer service being provided in multiple languages. Though some stock brokers end up providing bad customer service, they are ones that are known for their customer service.
