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Author: Alan Applegate
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Alan Applegate

Indian Stock Trading

For you, as an Indian resident stock trading is likely to be one of the ways you are aware of as an additional income source, or to make an investment for your family’s future. Whether you intend to trade on a full-time basis or to make investing in stock a source of secondary income, then you need to know how the system works to select the stockbroker that can provide you with the best service possible.

At present, there is no formal licensing system in place, so Indian traders are very much reliant on offshore brokerage services. Although you do not have homegrown stockbrokers to select from, it does open up opportunities to take your pick of global markets including the UK, US and Asia. Adding knowledge and diversity gives you many strings to your bow and is always a good thing as a stock trader.

We hope to help you to find a stockbroker that can fulfil your needs. Not only will you get loads of helpful advice from our various guides, but you can also get a feel for the market by reading through our intensive broker reviews. A panel of experts compiles them, all experienced traders in their own right, who check out brokers on multiple aspects and only recommend those they feel are most suited to the unique needs of the retail stock trading community.

Top Rated Stocks Sites

#1 - Pocket Option: Best Overall

Pocket Option Logo
9.8
Superb
Bonus Up-to $2000 Assets 130+
Min. Trade $1 *Payout % 92.76%
Over 130+ assets to trade now
Instant access to social trading
Single account option, for everyone
Tournament with prize of $50,000
IFMRRC is not an official regulator
Limited account funding methods
Deposit Methods
Visa PayPal Neteller Skrill
169 visited this site today
Pocket Option Review

Editors Summary

Pocket Option offers many excellent features to new and existing traders. When you check-out the various account types, you will see that they work with traders of any level – newbie, beginner, experienced, master etc. This site is so easy to use, and while CySEC does not license them, they have good feedback online and tick all of the boxes of a trusted broker. We love the ease of use and no-frills approach which is replicated with a great user experience.

#2 - Binarium: Best Free Demo

Binarium Logo
9.3
Excellent
Bonus Up-to $1600 Assets 120+
Min. Trade $1 *Payout % 91.48%
Over 120+ assets to trade now
Bigger deposit = more features
Business account for pro traders
Online platform, no download
Platform basic for serious traders
Slow response times for support
Deposit Methods
Visa AMEX MasterCard Neteller
70 visited this site today
Binarium Review

Editors Summary

Binarium seems to offer everything that both the new and experienced trader needs. From the types of accounts and options available to the mobile offering and bonuses, they tick all of the usual boxes. While they don't have a CySEC or ASIC license, the fact that they have been operating for so long with a good name should be an indicator that they are trustworthy and reliable. If you want a broker that offers a good, all-around experience, then Binarium must make your shortlist.

#3 - IQcent: Best Mobile App

IQcent Logo
9.1
Very Good
Bonus Up-to $1000 Assets 150+
Min. Trade $1 *Payout % 89.72%
Over 150+ assets to trade now
Account options for every trader
Trading available 7 days a week
Super-fast 1 day withdrawals
Demo account has less features
UK-based, but licensed offshore
Deposit Methods
Visa Klarna MasterCard Neteller
35 visited this site today

Editors Summary

It is clear to see that IQcent mean business and that their all-around offering to traders is making them a serious competitor in the digital options market place. From their easy to use trading platform to the fact that they offer such good withdrawal terms, you can't help but feel that this broker is going to capture the market, quickly. With a base in London, reputable licensing, an acceptance of US customers they tick all the boxes when it comes what traders want.

Risk Warning / Ad Disclosure

Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain for referring new customers.

Stocks Sites in India

India

Uniquely, you are legally entitled to trade in stocks with an offshore broker, opening up whole realms of opportunities. Picking exactly the right one for your situation is possible one of the hardest parts of the decision, but there are also things you may overlook, some of these are explained below for you:

Mobile Trading

Many traders assume that everything can be achieved as easily from a mobile device as from a fixed one these days. In some situations, that is exactly right, but in the context of stock trading, this does vary. Stockbrokers are indeed beginning to invest more heavily into their community of mobile clients, but still, some are slower than others in that respect. If you intend to trade mainly on the move, then we cannot stress enough the need for you to check that your broker and mobile device are both compatible.

Deals And Incentives

Stockbrokers are generally businesses that care about their clients; they are reliant on your fees to make their business profitable after all. While it is unlikely you are going to get ‘upfront’ incentives, the importance of client retention is likely to glean other more subtle rewards, whether it is in terms of upgraded account facilities, free software to add to your platform or reduced fees.

Diverse Asset Types

All Indian brokers offer stock on the NSE (National Stock Exchange) and the BSE (Bombay Stock Exchange). However, you are not confined to just those, if you select your stockbroker carefully, you have access to most of the world’s most significant stock markets too. It is likely that the best deals revolve around stocks from your own country but having the opportunity to diversify your portfolio is also of great value.

Good Customer Support

We like to see stockbrokers offering robust all-round support to clients. Phone or live chat in at least one Indian dialect, staffed by helpful and knowledgeable personnel, is a must. We also like to see brokers providing plenty of other self-help information such as trading guides, FAQs and easily-read Terms and Conditions.

Broker Fees And Tax

Todays Top Traders
Trader Broker Asset Profit

The homegrown Indian stockbrokers offer two levels of account to clients; full-service or discount. The best option for you is dependent on the amount of stock trading you intend to do and the level of research and interaction you have the time to undertake. A full-service option means that once you have handed over your funds to the broker, you can relax while the stockbroker does all the hard work for you.

Naturally, the full-service option comes at a higher cost, which all-in equates to around 10% of your total investment per year. A discount account will provide you with a trading platform and access to your chosen stock markets and the rest is up to you. Specific fees in connection with the maintenance of your trading account are still applied, but with careful account management, will equate to as little as 2% per annum. If costs are a concern it would be advisable to take a look into trading penny stocks as fees can be substantially lower.

In India Income Tax is paid on a sliding scale and at the time of writing, any profit made from your stock trading activity counts towards your total annual income. Additionally, the Indian tax authorities monitor individuals at random, so we strongly advise you to keep your accounting up to date and accurate at all times.

Indian Licencing

India does not operate a formal licensing system, but stockbrokers (specifically) must be members of the Securities and Exchange Board of India (SEBI) before they can sign up clients and act as intermediaries between them and the Indian-based stock markets like the

To make it more transparent, SEBI is not a licensing authority; it is a powerful autonomous body with far-reaching powers throughout India. Ultimately it is responsible for the development and supervision of all interactions with India’s stock exchanges and the businesses that facilitate them. Global brokerages with a physical presence in India are also members of SEBI, thus allowing their foreign clients further diversity.

Many global offshore stockbrokers hold multiple licences with some of the most-highly renowned authorities:

  • SIPC (The Securities Investor Protection Corporation)
  • FINRA (Financial Industry Regulatory Authority)
  • FCA (Financial Conduct Authority)
  • CySEC (Cyprus Securities and Exchange Commission)

Although Indian residents are not protected directly under those jurisdictions, at least you are reassured that the broker is a reputable one and has conformed to stringent regulation under them.

It may seem an arduous task to check each one out, but that is where we come in, creating in-depth reviews covering multiple topics.

How we Recommend Brokers

Although India does not currently implement a licensing system, you will still find that there are plenty of Indian-based stockbrokers from which to choose. There is a mix of both homegrown and global brokers available, all with different features and opportunities. It may seem an arduous task to check each one out, but that is where we come in, creating in-depth reviews covering multiple topics.

The availability of an Islamic account is one such example. We expect this type of account to offer you the same benefits as a standard account but to comply with your needs in terms of its operation. We also check that any broker offering its services to India can provide adequate customer support to Indian clients in terms of currency, knowledge of Islamic accounts and direct support in your native language.

Our team of stock trading experts check out hundreds of stockbrokers, rating them on many different aspects of the service provided to their clients. We then compile that information into easy-to-read reviews, broken down into different sections, looking at everything from demo accounts to signal services. The stockbrokers who make it onto our recommended list are those who have scored highly in every respect and offer an excellent all-round experience to their Indian clients.

Our Review Rating System (More Info)

10% 10% 10% 15% 15% 20% 20% Pie Core
  • Account Types
  • Banking & Payouts
  • Bonuses & Promotions
  • Mobile Trading
  • Trade Types
  • Special Features
  • Customer Support
Expert Reviews

Frequently Asked Questions

FAQ

Is stock trading in India legal and safe?

Stock trading is legal in India, but there is no licensing system. To ensure that your investment stays safe, you must choose a reputable stockbroker and you will find our reviews useful for that purpose.

Do I need to pay fees and taxes on my profits?

The fees you pay to your broker will depend on the level of service you need and vary between 2% and 10% of your total investment per annum. Indian tax laws also require you to declare any profits made on your Income Tax return, so you must keep detailed accounts for this purpose.

Can I test brokers before trading with real money?

Not every stockbroker offers simulation or demo accounts. For those that do, the facility is sometimes time-constrained or uses historical data rather than live information, meaning it is only useful for practice.

Is it easy to make deposits and withdrawals?

Once your bank account is verified, all financial transactions are completed digitally by bank transfer, so it is a speedy and easy process. An offshore broker may charge additional fees for exchanging to your local currency.

Can I trade using my mobile or tablet device?

Almost every broker now provides mobile access to your stock trading account, with the majority offering a downloadable Android or iOS app. In contrast, others opt for a mobile-optimised website instead. Always check your mobile device is compatible.

Top Rated Stocks Site

#1 - Pocket Option: Best Overall

Pocket Option Logo
9.8
Superb
Bonus Up-to $2000 Assets 130+
Min. Trade $1 *Payout % 92.76%
Over 130+ assets to trade now
Instant access to social trading
Single account option, for everyone
Tournament with prize of $50,000
IFMRRC is not an official regulator
Limited account funding methods
Deposit Methods
AMEX Bitcoin PayPal Neteller
151 visited this site today
Pocket Option Review
Risk Warning / Ad Disclosure

Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain for referring new customers.

Meet The Author
Alan Applegate
Alan Applegate
Investment Broker

Alan has worked as an investment broker who helps businesses find investors to fund their projects and operations. He’s now joined our team as an author for the site, and we believe his 25 years experience will be priceless to our readers.

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