The Top 5 online share trading sites mentioned here are all linked to banks. All the major banks have an online share trading platform these days with links to the bank accounts.
HDFC offers its online share broking and related financial products through HDFC Securities at hdfcsec.com a top online broking portal. Offerings at HDFC Securities portal also includes F & O (Futures and Options), ETFs (Exchange Traded Funds), Bonds and FDs, SIPs, Mutual Funds, IPOs. There is a facility to integrate all your accounts (bank, trading, demat and investment) to do the required trading.
ICICI – at ICICI Direct has been a pioneer of online trading and integrating bank, investment, demat and trading accounts. The site is easy to navigate and integration with the banking account is seamless. One can go to the site at www.icicidirect.com
Axis Bank has a portal axisdirect.co.in for online trading. The site provides for a 3-in-1 trading account and a host of other tools and research facilities. Find out about it here.
SBI – India’s largest bank also provides online trading at SBI Cap, its subsidiary. The facilities exist to have a 3 – in – 1 account linking your SBI Bank account, demat and online trading accounts.
https://www.sbicapsec.com/
IDBI has IDBI paisabuilder its online share broking site that offers a 3-in-1 demat, banking and trading account.
While online share trading has its advantages – it can have some major drawbacks too. In times of stress in the market – sometimes the infrastructure has a lot of load and the account takes a long time to open or even shuts down temporarily. Many of the banks have tried to solve this problem by also providing a phone-in facility – where you can trade via the phone.
Some checks one needs to do before opening an online trading account
– Find out and compare the brokerage costs
– Compare the demat and trading account opening charges. However dont let that be a deterrent in opening your account. These are one time charges – and the cost wont matter if the services are poor.
– Find out about the phone trading facilities available
– Check out the online trading demo – preferably by a bank employee. Most banks arrange for a demo at their office
– Find out where to call if you are stuck and the speed of response.
– Better use an online trading account that is popular – for it maybe popular for a reason – the services may be better!
So enjoy your online trading and make loads of money!