Is Lowest Brokerage the only criterion before choosing the Best Discount Broker for you

There are tons of discount brokers available that offer you the lowest brokerage possible. In fact, many even offer you zero brokerage plans with advanced trading features on their platforms.
But, should this competitive or lowest brokerage be the only criterion to select the best discount broker for you?
You pay taxes and statutory charges on each of your trades, apart from the brokerage charged by the brokers. Since the brokerage varies from broker to broker, it does play a vital role in deciding the best discount broker that suits you. However, there are other charges that your best discount broker might be charging to your account.
These are the charges mentioned in KYC, you unknowingly sign or e-sign these days.
These charges are not explicitly mentioned but are levied in the due course of your trading or investing journey with the broker. That makes a difference while opting for the best discount broker for you. Here is a list of the charges that vary broker to broker, apart from the brokerage:

• Account Opening Charges – These are levied at the time of account opening for Trading Account and Demat Account separately.

• Account Maintenance Charges – The stockbrokers may charge it annually, quarterly, or half-yearly. Also, you can talk to your broker, as they might offer an once-in-a-lifetime AMC Plan.

• DP Charges – It is charged when you sell your holdings and are levied per script. These are charged irrespective of the number of shares.

• Modification Charges – These are levied on any changes you wish to make in your details like your contact details, bank details, etc.

• Trading Platform Charges – Although, many discount brokers offer you a lower brokerage charge, or even a zero brokerage charge, they levy charges for the trading platform they provide. This is a substantial amount to pay, and thus you must check on this.


However low it may seem, these are major points you must consider while opting for the best discount broker for you.

Happy Investing!