Today due to advancement of technology themodes of delivery are rapidly changing from off line to online, thereby drastically reducing the costs. The era of discount brokers has arrived who charge ridiculously low brokerage of Rs. 20/- flat, per executed transaction irrespective of the value of trade be it 10lacs or 10Crs.
Stock brokers in India have evolved over the past century, BSE being the oldest Stock Exchange in Asia, has seen tremendous ups and down, from Stock Brokers going boom to bust - the big bull Harshad Mehta, the value of stock broker card reaching pinnacle during bull market tops and card value tanking down with the markets in tailspin, from pure relationship broking to open outcry system to now virtual electronic market place where buyers and sellers identity are hidden, marks a complete shift in the way broking business has evolved in the past 100 years. Those who have adapted with the changing times survived rest have vanished. Today due to advancement of technology themodes of delivery are rapidly changing from off line to online, thereby drastically reducing the costs. The era of discount brokers has arrived who charge ridiculously low brokerage of Rs. 20/- flat, per executed transaction irrespective of the value of trade be it 10lacs or 10Crs. Broking houses like SAMCO, Palmtree, Traderjini offer such discount broking services. This is in complete contrast to percentage brokerage who often charges as high as, 0.5% of the delivery value.
The approach of discount brokers are extremely client centric wherein clients benefit immensely in terms of operational costs and also avail the benefits of ‘smart decision making’ tools which are available due to technology which otherwise was not possible in the offline conventional broking set up. Those stock brokers in India who have adapted themselves with the changing times have survived, not only by offering discount brokerages, but some smart brokers like SAMCO securities are also offering smart decision making tools like stock ratings which rates all stocks listed on NSE just like credit rating agencies that rates the credit worthiness of businesses, SAMCO rates stocks on wonderfulness of the businesses from AAA – AA – A – BBB - BB- B - CC - Penny which helps investors to identify wealth creating or destroying stocks just by seeing the rating.
Stock brokers have also started giving consolidated financial data, which is very hard to compile and otherwise costly to acquire, is given away free for all listed companies. Stock Brokers have also started giving Promoters Pledge monitor to highlight the indebtness of Promoters and resulting riskiness on share price due to likely invocation of Pledge.
These are all smart tools which the stock brokers in India have started providing for the benefits and empowerment of investors and traders at large. Consumers are winning and stock brokers are giving more and more value for money to the customers than anytime they have done in the past century. The consumers are rejoicing with absolutely negligible brokerage along with smart and intelligent decision making tools. The Stock brokers in India have become more customer friendly than any time in the past.
By: Ankur Shah
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Submitted On Apr 09, 2015. Viewed 236 times.
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