Getting the side income is a priority for many of the people, and the stock market is one of the best avenues that can help one earn handsome income as a way of side income. There are many companies that are listed on the stock exchanges, and one can go for trading in any of such shares. The trading account is a must for every share trader, and it is provided by a lot of share brokers in the market. The client who expects the best of the quality services can go for the search of share brokers.
In the field of the share market, there are cash and a derivative segment in which one needs to deal. One can go for discount brokers to have least of the brokerage charges and go for the best of the account as well as trading experience. The share brokers usually do not allow having low brokerage as it leads to a reduction of their primary income but in some cases, they consider the proposal and allow it. However, the areas of such compromise are very restricted, and hence one must know all such avenues where a broker can allow an account with low brokerage rate.
- Bulk deal: Many brokers prefer to have bulk accounts opened with them. In such case majority of the clients agree only if the brokerage rate is reduced. As there is a huge chunk of accounts, the broker focuses on additional revenue and hence allows such reduction in his charges.
- New Branch: In the case of opening of a new branch in a new area, the business may not have client base at all. To have some clients they go for such schemes of discount broking that can help the traders in that area to visit the branch and open an account which can lead to have a client base and turn the business in a profit centre.
- New Business: In case of a new business or business in a new area, the broker prefers to have more clients and the reduction in brokerage rate proves as the best weapon at this stage. In case there are competitors in the area. Obviously the clients trading there may also get attracted, and hence in a few days, the new business can also turn into a profit
- Online account: In many cases, the clients who prefer to go for the online account are preferred by the brokers as they do not need to offer any support to such clients from the branch. Hence in these types of account, the cost is reduced and hence whatever profit he gets is just a benefit only.
- Advanced brokerage: There are brokers who prefer to have brokerage in advance. The clients need to issue a separate cheque for the same and for a specific period the client can go for any number of trades in his account without paying any brokerage. Those clients who transact on a large scale can be benefited from this type of brokerage.