Buying and selling stocks is something that is often done with the intent to invest money for returns. Of course, the time periods on these investments are fairly long, and a lot of people generally invest in stocks and bonds for a few years. However, there are certain people who trade on the stock market with the sole purpose of earning profit as quickly as possible. These traders will buy and sell stocks within the same day – a practise that is known as intraday trading.
When it comes to making intraday trades, it isn’t always possible for individuals to do the buying and selling themselves. Instead, they have to route their money through a stock broker, who will make the purchases and other transactions for them. But, how do we know if we’re partnering with the right kind of stock broker? To help you pick the right broker, here are a few important points to consider:
When it comes to margin trading, it’s imperative that you check the margin a broker is offering you for equity cash.
2. Trading Platform
It’s important that your broker is on a stable and powerful platform. If the broker offers trading through a mobile app, it makes your trading much easier.
This is generally a deal breaker when it comes to selecting a broker. Brokerage refers to the cost that the individual is required to pay for their trades. The amount of brokerage charged by traders can significantly influence an individual’s decision. Certain brokers levy a per trade cost, making it expensive to make numerous transactions per day, while others levy a fixed cost for a particular number of trades made within the day.
When it comes to selecting a trader based on brokerage charges, a good option is Kotak Securities. They offer Free Intraday Trading (FIT). This means that there are no brokerage charges, irrespective of the platform, market segment, or size of trade. Kotak Securities also offers individuals unlimited access to the research team’s reports on equity and derivatives. Plus, you will be able to manage and make trades while you’re on the go via their Kotak Stock Trader app. You will also be able to view a snapshot of your portfolio on the app, no matter where in the world you are. You can also make remote trades via their website.
Individuals who want to avail of Kotak’s FIT plan will be required to pay an affordable fee of Rs. 999 for the year – this works out to less than Rs. 4 per day, making it possibly the lowest brokerage fee you could hope for. While using FIT, you can make trades on the market by yourself – you won’t even need a dealer to help you out. It’s a great way to control where your money is and sell stocks when you think the price is right for you.