1. Read the documents carefully before sign them. Check for any hidden clauses.
2. Assess the reliability, speed and robustness of your broker’s system.
3. Check the response time on the trading screen. The lag between the prices on the market watch screen and on the exchange should be less than 20 seconds.
4. Conformation of the execution of your order should reach you in less than 30 seconds. Most of the online trading platforms are providing best service to the special customers neglecting ordinary customers. Ex. ICICI Direct active trader account.
5. Trading website should be up, active and fast especially during trading hours.
6. These days most of the financial websites have high standard security features.
7. Enquire about the brokerage charges, annual payments and hidden penalties. Currently Reliance Money is offering lowest brokerage charges.
8. You should able to check your orders and payments during trading and non trading hours. ICICI Direct does not allow the customers to check them during trading hours.
9. Check with your broker whether there are providing phone trading and offline trading.
10. Verify about the reliability of broker recommendations. Never trade just based on the broker recommendations.
Courtesy: Business Today
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