Last updated on: October 18, 2023
When it comes to choosing the best stockbroker, there is no one ideal choice for every investor. It majorly depends on their personal needs, services and features offered.
In case the investors want to ignore paying high brokerage, online discount brokers are the best option. However, if they need advice on stocks and are a high-frequency trader, it is better to consider a full-service broker.
Two of the top 10 full-service stock brokers in India, include:
Axis Direct
It is a subsidiary of Axis Bank Ltd., established in 2011 as a full-service stockbroker by Arun Thukral. It distributes – a wide array of financial solutions and services and a broad spectrum of lending strategies enriched with features. Axis Direct is a participant of both – BSE (Bombay Stock Exchange) and NSE (National Stock Exchange Today).
Across India, Axis Direct has around 75 branches and is one of the evolving stockbrokers in the offline space. It also enjoys being one of the highest active clients in the stockbroking space in the country.
Besides BSE and NSE, it has MSEI, and MCX – SX subscriptions enabling its customers to trade over multiple financial segments, such as:
- Equity,
- Derivative Trading,
- Currency Trading,
- Mutual Funds,
- and ETFs.
This stockbroking firm has a working client base of more than 300,000. As an Axis Bank affiliate, it allows customers to set up a Demat 3-in-1 account that removes all the difficulties with fund transfers. This account is offered to make the firm stand out as the best broker for trading.
Kotak Securities
It is a leading bank-based full-service stock broker in India, founded in 1994. This stockbroking company has been providing a wide array of investment and trading services and several financial suggestions to its clients. It has come a long way by offering diverse financial products to its clients. Kotak Securities has nearly 59 lakh customer accounts making trades for over 5 lakh per day. It has 1281 branches, franchisees, and satellite offices in around 377 cities across India.
It is an active participant with depositories like – the NSDL (National Securities Depository Limited) and the CSDL (CDSL – Central Depository Services (India) Limited).
Whether you want to trade in stock markets, invest in IPOs, Mutual Funds or Currency Derivatives employing online or offline modes, the firm has it all at your disposal. Kotak securities boast a 3-in-1 account which enables investors to open a – Demat account, trading and a bank account in association with Kotak Mahindra Bank Limited. One can open those accounts separately or at the same time only by filling up a single application form. Using this, clients would not need to manually transfer money to a trading account from the bank account.
Axis Direct vs Kotak Securities
Trading Platforms – For Axis Direct, there are different types of trading platforms made available by the full-service stockbroker. The terminal-based software and the mobile app are famous for their decent ratings in the market. However, Kotak Securities primarily has 5 different trading platforms that allow investors and traders to trade across various devices.
Axis Direct:
Swift Trade
Swift Trade is a web-based trading platform that does not need to download and install software. The platform provides live market feeds. Some of the features available on this trading platform include:
- Multiple Market watch.
- Research thoughts and tips are available.
- Screen and dashboard personalization.
Axis Direct Trade
A terminal-based trading platform that needs to be downloaded and installed on a desktop or laptop. Once done, you can choose to trade from anywhere. Some of its leading features include:
- A search bar is provided for the rapid discovery of the particulars that a client is searching for.
- Updated news and market reports, information on indices, currency rates etc – are all available within the platform.
- A smooth user interfaces for quick navigation.
- Trading tutorials and videos engagingly and appealingly.
- Alerts and notifications as per the user’s preferences.
Axis Direct Mobile App
a mobile-based trading platform by Axis Direct that intends to bring the stock market to your fingertips no matter where you are. It features one-time registration that makes it easier for users to register and trade and is one of the widely used mobile trading apps used by investors across the country.
Axis Direct Mutual Fund App
This stockbroking firm also offers one of the best mutual fund apps in India. Now their customers can invest in a mutual fund or SIP through this app anywhere anytime.
Kotak Securities:
Trading Application
Kotak Securities has a browser-based trading application. This application, allows its investors to trade right through the broker’s website. Since it is a cloud-based trading application, there is no need to download or install any specific software to kick off trading. The users only need to enter their login details and they can start trading right away. Its major features include:
- Access to various securities across exchanges.
- Place buy or sell orders using multiple order types.
- Live to a stream of quotes and other market information.
- Invest in IPOs, Mutual Funds, etc.
- View and check your portfolio.
- Check real-time Profit/Loss on your positions.
- Access to different types of reports.
KEAT Pro X (Desktop Trading Terminal)
A free-of-cost, user-centric and high-speed online trading software. This desktop application can be downloaded and installed for use on both – a desktop and a laptop to perform trading across BSE, NSE and NSE currency markets.
The several features that the KEAT Pro X trading platform provides are-
- A platform to trade across multiple securities and exchanges.
- Place buying or selling orders at high speed using the shortcut keys available.
- Receive live quotes from the BSE, NSE & NSE currency markets.
- Availability of key market data like – market lots, top gainers and losers, indices (like – Sensex & Nifty), etc.
- Develop customized watchlists with information on exchanges and track them.
- Charting tools with technical pointers as well as historical data.
Kotak Stock Trader
A mobile-based trading application. It comes free for all Kotak online trading customers as well as non-customers. These non-customers can choose to download the app and sign in as guest users to access its various features. This mobile trading software allows detailed market inspections, gives live quotes, and helps traders to create watchlists and view intraday charts.
Kotak Securities Xtralite
a web-based trading application meant to be used by users with a relatively slow internet connection or from rural and remote areas of the country. The lighter version of this application tends to enable users to trade at impressive speed without encountering the issue of poor internet connectivity. It allows investors to trade in Equity and derivative trading segments.
Kotak Securities Fastlane
This platform is developed for traders who rely on outdated, slow computers. The Kotak Fastlane is a light and fast trading application developed with the help of Java technology. It can also work on computers which do not allow installing files with .exe extensions (such as in-office systems). It doesn’t need the clients to download or install any separate software.
Besides having different trading platforms, the firms – Kotak Securities and Axis Direct can be compared based on their – Trading Account Opening and Demat Charges.