Forex currency exchange bangalore days
Comparison of Full Forex currency exchange bangalore days Brokers and Discount Brokers in India Published on Thursday, December 11, 2014 by Mukesh Kothari, Chittorgarh. We can help you find the right broker for your trading needs. I follow the brokerage industry very closely. Recently I came across a radical change in the India brokerage industry.
This has drastically changed the trading habits of many traders and has brought down the brokerage cost significantly. In this article I will explain about how new breeds of broker are taking the traditional brokers head on and how the broking industry in India is heading for a change. Types of ‘Retail Brokers’ in Indian Stock Market As stock market investors we all use brokers on a regular basis. These brokers are registered members of the stock exchange and regulated by SEBI. They also allow investing in Forex, Mutual Funds, IPOs, FDs, Bonds and Insurance.
In some cases full-service brokers also have in-house banking and demat account services. India has over 10,000 traditional retail brokers. They are ‘advisors’ for the client and at the same time salesmen for the financial products. Discount brokers offer low brokerage, high speed and the state-of-the-art execution platform for trading in stocks, commodities and currency derivatives. They offer ‘no-frills’ brokerage service for ‘do-it-yourself’ traders who understand the market well.
Discount brokers are new breed of brokers offering technologically advanced service at extremely cheap online brokerage services. This comparison shows that discount brokers charges much less brokerage. Most discount brokers also do not charge minimum brokerage. They are online brokers having couple of offices in metro cities. Around 500 brokers closed their shops in last 1 year. Many others have downscaled including largest ‘India Infoline’. Most discount brokers started business after year 2010.