I have got something more to add from what the above expert had suggested. Apart from what he has already suggested, there are also some more points that should be looked into which directly addresses the reliability of your broker.
Reliability --- It is one of the most important aspects of any broker. You need to check the reliability of the broker. The reliability of the broker can be checked and gauged by various checks and balances. Before signing on the dotted line with any broker, you must check his track records in servicing the existing clients as well as the timely payments of the extra funds lying with the broker. Timely services and timely payment record can tell the seriousness and approach regarding the business.
Also, It is imperative for you to check the products offering the broker before signing to the broker. The broker should at least have online and off line stock trading, online IPO and online mutual funds
services. If the broker has other financial services such as insurance, portfolio services and bonds etc. these are beneficial.
You also need to see if the broker has efficient online trading platform and ALSO offline platform that serves as a backup.
I hope this helps...
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