We at Finology received hundreds of queries regarding which broker to choose, how to choose the right broker, etc. We also heard stories of brokers cheating their clients and robbing them of their hard-earned money!
This prompted us to think of coming up with a technology backed solution that helps you decide what’s right for you. And ‘Select’ was born! Here are some of the selection criteria that we used while evaluating India's well-known brokers to help you make #AchhiShuruat
🤔 Wondering Why should one use Finology Select for opening a demat account? Using Finology Select Platform you can -
And many more upcoming features.
Our team of more than 30 people thoroughly tested the apps and tools provided by each of these brokers for ease of use, performance, and reliability.
We only selected brokers that provided a seamless online account opening process (as we don't want you to print and courier papers across the nation to get your investing started).
We carefully studied size and past track record while shortlisting brokers. We avoided extensively small brokers and also, those who have a checkered past with the regulators or customers.
We have prepared thorough guides, and step by step instruction manuals to ensure that you get started smoothly.
We compared all brokers feature by feature, and allocated weightage according to the pricing plans. This way we ensured that the rating represents the actual value that clients derive.
We wanted to make it better and delightful for you, so we decided to bundle our offering with some goodies that will make it a happy beginning for you.
Select provides you with detailed information to help you choose the right stock broker. There are many stock brokers out there who offer almost similar looking services. But, are they all perfect for you? Absolutely not. There are various intricacies that you need to be aware of while selecting your broker. Select helps you in comparing the brokers side by side and provides you with a detailed account opening guide as well. And not just that, you get amazingly rewarded when you open your demat account with your preferred broker through Select.
The correct stock broker for you would be the one that provides you with exactly (or almost) what you need. With Select you are first asked about your requirements and then based on your inputs, you are provided with a list of carefully chosen stock brokers that you can compare Stock brokers and then make the choice. Select also provides you with unbiased reviews and ratings of the stock brokers, and hence you can be assured of making a well-informed decision.
There are a limited number of stock brokers listed on Select. These stock brokers have been chosen after meticulous evaluation on criteria such as company background, client base, technological base, customer reviews etc. Company background and active client base are given more weightage while evaluating a broker because that reduces the risk of default. Besides this, Select also provides unbiased stockbroker reviews to assist the customers in getting a clear picture of the stock broker.
Opening a demat account with Select is really easy. Once you have made your mind i.e. selected a stockbroker for yourself, you can click on ‘Open Your Account’ to get started. You will receive the detailed instructions manual over mail and you also have an option of downloading the manual from Select’s website.
The brokers offer various brokerage plans that you can compare on Select. You can either visit the ‘Compare Broker’ page and directly see the comparison of those stock brokers which are selected by default. Or, you can add your preferred stock brokers to the wishlist and then compare them through the Compare Broker page.
While finding a broker that suits your particular investment needs is a reward in itself, Select believes in going above and beyond! This is why, we don't stop with just getting you the right broker, but we bring you additional rewards and freebies as well. On opening a Demat account with your preferred broker through Select, you get Finology One's premium benefits for one month. These include; Ticker Plus Subscription, 10 Free Courses on Quest, DIY Financial Planning tools on Recipe and 3 free Elite Articles on Insider!
There is a SEBI (Securities and Exchange Board of India) registration number that the stockbroker needs to mention on their website. Besides this, one can look at the active client base as well. Background research can also be performed but it is not easy for everyone to do. The stockbrokers listed on Select have been carefully chosen and hence, you do not have to worry about the legitimacy of the broker when you find the broker for yourself through Select.