Frequently Asked Questions (FAQ)

A list of frequently asked questions to help you understand how to choose best online stockbroker in India.

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Nifty Broker is a technology platform determined to help you find the best online broker to start your investing journey based on your needs.


We would love to answer your queries and help you with your investing journey. Simply drop us a mail at or reach us out using the below link.

What is Nifty Brokers?

Nifty Broker technology platform that helps you find the best online broker that fits your needs and assists you to start your journey in the exciting world of Indian stock market.

We provide a comprehensive study of the different brokers in the Indian equity industry. Our primary mission to provide reviews, commentary, and analysis that are unbiased and objective.

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How can 'NIFTY BROKERS' help me?

Based on the toughest and most comprehensive review in the industry, we help you find the best stockbroker depending on your requirements. Get started here and we will walk you through the whole process and find the best stockbroker for you.


What is a stockbroker?

A stockbroker is an individual/organization who is a registered member of the stock exchange and are given license to participate in the securities market in place of its clients.

Stockbrokers can directly buy & sell stocks in the share market on behalf of their clients and charge a commission for this service.

What is the difference between demat and trading account?

Trading Account:

A trading account is a medium to buy and sell shares in a stock market. In simple words, it is used to place buy or sell order for a stock in the market.

Demat Account:

Demat account in the short form for ‘Dematerialised account’.

It is similar to a bank account. Just as money is kept in your saving account, similarly bought stocks are kept in your demat account. It serves as a facility where stocks bought are deposited and the stocks sold are taken away.

Demat account is used only for the storage of stocks, not for transactions (buying/selling).


Read more here: Demat vs trading account.

What are the documents required to open a brokerage account?

For opening a demat and trading account, the following documents are required:

  1. PAN Card
  2. Aadhar card (for address proof)
  3. Passport size photos
  4. Canceled cheque (or front-page of passbook)

In addition, you’ll also need a saving account to link with your brokerage account to transfer funds (when you buy or sell shares). You can have your savings account in any private/public Indian bank.

Else, many brokers also provide the facility of 3-in-1 account- where you can open all three- Saving account, demat account and trading account with the same bank/broker.


What kinds of online brokers are present in India?

Now, there are two types of stockbrokers in India:

  1. Full-service brokers (Traditional Broker)
  2. Discount brokers (Budget brokers)

What are Full-Service Brokers (Traditional Brokers)?

They are traditional brokers who provide trading, research & advisory facility for stocks, commodities, and currency.

These brokers charge commissions on every trade their clients execute as a percentage of each trade executed. They also facilitate investing in Forex, Mutual Funds, IPOs, FDs, Bonds, and Insurance.

Few examples of full-time brokers are ICICIDirect, Kotak Security, HDFC Sec, Sharekhan, Motilal Oswal etc.

What are Discount brokers (Budget brokers)?

Discount brokers just provide a trading facility for their clients.

They do not offer advisory and suits for a ‘do-it-yourself’ type of clients. They offer low brokerage, high speed and a decent platform for trading in stocks, commodities and currency derivatives.

Few examples of discount brokers are Zerodha, ProStocks, RKSV, Trade Smart Online, Achiievers, SAS online etc.

What are the key differences between discount and full service brokers?

Full service broker vs discount broker

How to choose the best stockbroker?

There are a number of factors that you need to check to find the best online broker suitable for you.

Few of the top factors are brokerage charge, trading platform, background and reputation of the broker, maintenance charges, customer services, advisory and research facilities, hidden expenses/charges etc.

Read our full guide here- ‘How to choose a stockbroker?

How to open your brokerage account?

These days- almost every broker provides the facility to open the brokerage accounts online. All you need to do is to fill the online form and submit the documents (Pan card, Aadhar Card, Passport size photo & Cancelled cheque).

Here’s the procedure to open the demat and trading account in few top online stockbrokers in India:

Further, if you need help in opening your trading and demat account, you can contact us here.