Looking for a broker? Read on to find a winner

To select a broker is akin to picking a stock, it has to done with consideration and research. A broker is your gateway into the markets and without the right broker, you stand to lose more money than you even start with.

If you are new to the market, the following tips are quite useful to have at the back of your head when you set out to choose a broker.

Type of broker you want:

Before you choose a broker, you need to know the type of broker you want. There are two types.

• Full service – They are traditional brokers who offer a range of services. Apart from helping you buy and sell shares, they offer services like research reports, stock recommendation, trading tips, and other advisory services like retirement planning, tax planning etc.
• Discount – Discount broking houses charge less compared to full service brokers but offer fewer services. Discount brokers offer high-speed trading platforms and excellent facilities. However, their services are mostly online. These are mainly for seasoned investors who know the ins and outs of the market.

Test your broker’s knowledge:

On you zero down on a broker, it’s vital to know that your broker is knowledgeable. Set up a meeting with him and ask him as many questions you want to gauge his skills and knowledge level.

If you ask you a broker about ‘share prices which will rise’ and the reply comes ‘Axis bank share price’, ask him why is it so? If you get a satisfactory reply then you should proceed. Never hesitate to ask questions because it’s your hard earned money you are paying him.

Check Research Reports and Data:

Many brokers will give you access to their research reports and data about the markets, commodities, and companies once you pick them. Request for a report before you choose them and go through it thoroughly, make sure the information provided, the graphs and charts prepared are genuine and factual, and not random data to win over novices.

Cost:

A broker will charge you a fee for services rendered. The most basic fee will be the Account Opening Fee and the annual maintenance charges (AMC) for the trading account. Then comes Demat opening fee and its AMC. You also pay a fee for every trade conducted as brokers are licensed to trade in the markets and not you. They trade on your behalf. You must know all the charges before you choose a broker.  A too good to be true fee is a bad sign and so is exorbitant fees, check and verify.

Does your broker force you?

Brokers are to give you a service where they listen to you and then sell or buy stocks. Their aim is to make you money. However, if a broker compels into choosing a stock you aren’t comfortable with or makes a trade without your authorization, then it’s time to bid adieu to such a broker. Your broker can offer you a variety of advice and tips, however, you have the final call.

Customer Service:

A broker’s service depends on making you money as well as excellent customer service. You need to be comfortable with your broker; you may have many questions, moments of panic or happiness due to market trends, unsure about India’s economy, or more. Your relationship with your broker needs to be good enough so that all such matters are resolved with calmness and efficiency.

If you are new, it’s advisable to go for full service brokers than discount brokers. A good broker to start with would be Sharekhan, they have branches everywhere making sure you don’t need to travel a lot and are well-equipped to help newcomers ease into the market and they make sure you are given the best customer service at reasonable rates. 

ALL YOU NEED TO KNOW ABOUT GOLD

Gold is a synonym for wealth and money. It has revered in almost all human cultures for if civilizations have could admire- and use- this precious metal makes its way into almost every sphere of modern life in some way, shape or form. We live in the commercial capital of India, and one of the most populated cities in the country, Mumbai. It is the city with highest concentration of Gold and numerous Gold markets. There are wide range Gold providers spread all throughout the gold market in our country. It follows varying its Gold rate same as the change of rate in the international markets. Their changes in process also indicates the buying patterns of the customers. It is available in different forms of so many uses and can also be used for trading as a commodity in the national as well as international markets. 

Three most common uses of Gold 

Jewelry- Especially in our country, adorning the body with gold is a way to attract wealth and blessings. A lot of gold is consumed each year and used as jewelry, it is the most common way of reaching the customers. A lot of people make jewelry as gifts for their family members, special occasions and friends. As gold appears to be attractive making and wearing jewelry out of it looks very elegant.

Finances and investing- That is what the trend is today to hold in the form of finances and investments for future use. As our every increasing economy is uncertain you may never know the ups and downs that will occur in the financial markets where all your “hard cash” invested will go for a toss, hence an investment in gold has emerged as a possible financial staple. The common ways it can be held is in gold coins and gold bars.

Medals and awards- As it is a highly esteemed precious metal, gold makes a natural appearance in medals, awards, statues. You win a first price at state or national level the most common way of felicitating you will be to award you a gold medal. Because of its beautiful quality and rarity, gold automatically looks appealing to the eye.

So what are you waiting for? Invest and purchase Gold today. You can check out for knowing the gold price today. 

Tips to successfully trade in stock market

Contrary to what most people think, the stock market isn’t the easiest way to multiply your investment. It requires skills and expertise. Especially if you are new to this world, there are a few things that you should definitely keep in mind. Read on to know more. 

The first thing to keep in mind before investing in stock market is the stock broker. The broker you choose to invest with must be of strong credibility and Goodwill. A good stock broker with his expertise can lead you to make a good deal of profits in a short period of time.

The second most important thing is research. Research well before putting your hard earned money in any stock. There are several information sources available such as news channels, books that will help you gain insights on the stock you are choosing to invest with.

Keeping a close watch on stock prices is yet another way of trading successfully in the stock market. Volatile stocks will give you the opportunity to book profits with price fluctuations. You can download apps that will provide you with share market live updates. Such apps will further keep you updated on all the latest economy and market-related news.

If you are new to the stock market world, start by investing a small amount of capital. Do not put in all your hard earned money the first time you are trying your luck. Understand detailed insights and then gradually go on increasing your investment. However, make sure that the capital is not borrowed. As there is a huge risk of you getting into a debt.

Lastly always do a post-analysis of your investments. It will help you learn from success and mistakes. Your analysis should include fundamental and technical analysis. You can take the help of experts when it comes to detailed analysis.