Which is the best trading account, demat account to open right now?

suser · #1 14th October 2008, 10:48 PM

HI,

In todays date, where should I open an online trading account?
I checked some of the websites, but, could not find the latest brokerage, account opening, fees, etc. (most of them seems to be old).
I want to getin with someone that is transparent.

Some of my friends have opened account with reliancemoney, etc.
But, on what basis do we select?

Do they open a demat account along with trading account?
Moreover, how does one close a demat account? Is it possible to close a trading account, as well?

It would be great if I could get good inputs to start off!

Regards,
suser.

pakatil · #2 14th October 2008, 10:59 PM

Hi Suser,

Welcome to Traderji.

Well can't say which is the best. I can tell you about Religare, which I am using from year & half. Good Terminal, decent Brokerage. I think they are one of the few who have given Brokerage Tariff in their Website. Demat Account comes along with Trading A/c. I am sure you can close whatever Accounts that are opened. I don't know about that as I have not closed any Account so far.

Cheers

phanijaladi · #3 15th October 2008, 06:07 PM

Hi,

I am an indian living in Canada.And interested in trading.

I searched a lot over the net to find a relevant quotes site which can keep me updated with live quotes including all the indices.

If anyone know a descent site,please let me know.

Thanks in advance.

suser · #4 16th October 2008, 02:29 PM

Thanks for the response,pakatil!
Which one from Religare is good, r-ace, r-ace lite?
What is Schemes & Plans?
If I want to go for r-ace lite, a trading and a demat account? How much will it cost?
The site says rs.499/ for r-ace lite. Is classic account included in 499/- ? When Classic plus is for 600/- for 6 months. what's the validity of classic account?
Will there be any monthly charge?
Someone said, gotta give 5000/- initially and then maintain minimum 500/- as balance in account.
I know its too many questions. It would be good if I can get some idea.

Regards,
suser

pakatil · #5 16th October 2008, 11:03 PM

Dear suser,

Race, Race-Lite are Web based terminals and does not have Charting facility. Haven't used much. Tried couple of times, found it cumbersome.

I use Race-Pro exe based Terminal.

Yes minimum balance is 500 and monthly charges and no minimum volumes reqd.

Go through their Web site and select a brokerage plan according to your needs.

Cheers

suser · #6 21st October 2008, 06:18 PM

Thanks for the clue, pakatil!
I checked the website. I would like to go for Race-Lite with a classic (i.e. the basic) account.
I do understand the fee is 499/-. Slight doubt about the margin. What I was told is that I should give 5499/- of which 5000/- is the margin. Out of this 5000/- one can withdraw 4500/- after the account is opened (if one wishes). So, 500/- is left in the first month of which share can be bought.
My doubt is whether we have to maintain 500/- every month or what?

Above an all, seeing the current market condition. Is this the right time to get into trading as a novice with small investement (say, 5000/- to 1000/-)?

Regards,
Sujit.

spades · #7 22nd October 2008, 05:14 PM

Sharekhan...............

ironfreak · #8 23rd October 2008, 10:10 AM

how is Religare compared to Sharekhan ?

84adityak · #9 23rd October 2008, 05:15 PM

I am using Sharekhan's classic account for about 8 months now. I feel Sharekhan has very extensive terminal and I reckon that it's research unit is one of the best that we have in India. With a proven track record of more than 80 years, it commands respect in the trading fraternity.

I believe if you are investing for long term their research reports would prove to be very handy. They have recently tied up with IDFC Capital markets which will add further imeptus to it's bag. User friendly site, transparent dealing and fair brokerage certainly add some value. Sharekhan also provides portfolio mgt services for a minimum contribution of Rs. 500000/-. You can also do commodities trading if need be.

Regards,
Aditya

sashsaha0 · #10 27th October 2008, 09:22 AM

Hi i want to daytrade and swing trade i have a demat account at axis bank
i want to open a trading account with shrekhan can anybody advice how should i approach i mean what are the basic requirements

The Following User Says Thank You to pakatil For This Useful Post:
suser (16th October 2008)