Choice for a beginner

Hey,

I would to like to open a DMAT account in this week. But i just want to make sure it will suit me..

about me>>
1. I am a beginner
2. Have little knowledge about ( still learning )
3. I wish to invest just 20-25,000 in this year ( around 4 transaction of 6-7k each)
4. I wish to operate my account ONLINE.

I am considering 3 Options
( correct me if i am wrong as i got this info from my friends & internet, as rates keep on changing)
HDFC Vs SHARE KHAN VS Angel Broking

Advantage o HDFC:-
No account Opening charges
No AMC for 1st year (which is rs. 750/-)
brokerage: 0.04% ( Rs.25/- minimum)
i do have a saving account with HDFC which can be linked to new DMAT account so transferring of funds can be avoided.

I am thinking about HDFC because accounts will be linked so easy to handle..& anyways i will be trading as a beginner & just 20-25k..so i am okay with that 0.04% charge..

Share khan:
No account Opening charges
brokerage: 0.04%

Angel Broking
I am considering this only because my friend suggested this..

AMC is around 500 & account opening charges are around 135rs..
though i couldn't find how much they actually charge for every sell/buy..any idea ?

Thanks ur time & comments are valuable..

This is pathetic..

Nobody cares to reply?

Do not go with Banking based brokers like HDFC / ICICIDirect. There main business is banking and not trading. They charge heavy brokerage/maintenance charges and trading terminal and etc is not so good.
Transferring of funds is not an issue anymore with any brokers. You have RTGS/NEFT/Cheque Deposits and various other methods. Also they will give you time for 1-2 days to deposit the cheque.

Sharekhan's software Trade Tiger 2 offers good charting. It also generates calls. You don't necessarily have to take the calls but start learning from them.

No Idea about Angel Broking!

I trade with Inventure Growth.

Look for low brokerage, good terminal, low maintenance charges and approachable office at your residence.

@ Thanks Dinesh,

I appreciate your reply...

Actually my friends has HDFC security online trading account & i have seen it. It is very simple & efficient tool to use.. & i don't need to visit broker & give checques as my bank account is also linked..

does sharekhan offers web based solution ??...i am full time employee & i can't install trading software in my office PC...


Thanks again

Sangram,
if u are going to make 3-4 trades a year and that too online i.e. yourself.
Do confirm : whether there are any minimum brok generation over 3month/12month , like that,

Coz if u ask for online platform, they will happily give u one and later u will discover they are charging indirectly. Inturn, either u will have to trade or forfeit that amount.


Must chk this.....

If you have made up your mind with HDFC Sec, so be it.

nseindia.com offers mobile platform (NSE NOW) on various smart phones to trade. Being busy in the office should be taken care of by this!

Your initial capital is small 25K, so more of it you put into the trade is better for you than giving away by way of brokerage. Also HDFC Sec will not give you very latest or best of rates on their terminal as such terminals are delayed by at least a minute or so.

I think you don't take all these points so seriously. What matters most is start trading, flaws - drawback will follow and you take corrective actions!

Sangram.,

Going to HDFC ONLY bcoz you have an account with them is Definitely NOT a good Idea...If you wish to be an Active Trader Please don't go for HDFC ....I dont not know of which HDFC sec Online you are referring to is it BLINK software provided by HDFC or their Web based application ??

Irrespective of which one ...I can come up with a BIG list for the BUGS they have in their software .....:rofl:.. I am NOT Joking ...& if you Opt for their BLINK software they will charge you Approx 4500 PER year .....:annoyed: ...

In their Web based application Their is NO STOP LOSS .......:rofl::rofl::rofl:.., Have you ever heard of a trading Software without Stop Loss ........

If you are intentions are for Investing I don't have much to say ....

Any way good Luck ....

Cheers ...,

Hey Casper,
Thanks a lot for replying...

I am definitely not looking for investing...I am here for trading...

I was not referring to HDFC's blink software.. i was telling about the WEB Based (https://trade.hdfcsec.com)

I saw my frnd's account it was nice..I am not sure if it has stop loss functionality or not.. it is necessary..

BTW any idea about india infoline??

I disused/- with their broker..

1. 555 RS one time fees..No AMC
2. Free software & web based portal
3. he said i need to pay 750/- Rs extra & it will be refunded in 90 days if my brokerage reaches 750/- Rs in 90 days,,,(if my brokerage reaches 200 rs..they will refund just 200Rs )

any suggestions? hows indian infolines..is 5 paisa & india infoline are same??

You can try out Ventura Securities Ltd. They are providing reliable service in all Equity, F&O, Commodities segments. They have Pointer Software as window application and a web terminal too. Both are reliable and reflects real-time data. Also they are having a very good and attractive brokerage plan.

Sangram..,

Yes Stop loss is definitely required in a Trading Software...!!!

What you need to be asking from Brokers is NOT about One time charges ..., or AMC as a trader you must ask them about Brokerage charges ...!!!

When you Trade you will be charged with various components , Securities transaction tax (STT), Turnover charges, Brokerage, Stamp duty , service charges , sebi charges ...

You can save quite an amount if Brokerage is reduced ...some charges doesn't matter irrespective of Broker like STT its the same..,

Also if you are a Trader its advisable to you use a trading application which is NOT web based ...!!!

Currently I know of Zerodha ( who charge Rs20 per trade ) and RKSV who charge Rs1947/- per month ..., There are several threads in this forum were in People have discussed quite a lot on choosing Brokers...I would suggest Please go through them before deciding .......

Sorry I dont have info regarding India infoline...



Cheers...,