Cheapest & Competent Brokerage

kurian · #11 2nd February 2007, 08:43 AM

hai jinny

thank you very much.
kuian joseph

Quote:

Originally Posted by JINNY

Happy New Year to everyone.

I'm starting this new thread hoping that it will be beneficial to everyone.

I'm using PowerIndiabulls for last 8 months. I've also subscribed to R K Global after watching its ad on CNBC.

R K Global charges Rs. 9.00 only per trade as brokerage. That is cheaper than
Reliance Money. And, yes, also same brokerage on ODIN client.

(R k global seems to get their live data feed from same source as Indiabulls PIB as both of their live quotes change at same moment and exactly by same numbers)

BUT:

- they trade only on NSE. No BSE.
- their server is switched off between 8Pm to 8.30 AM. So its not possible to
adjust market watch, see funds etc. during that time
- only digital contract notes are free.

Attached is a Contract Note of one of my trades on 29-12-2006. I've deleted the customer details.

I'm planning to leave Indiabulls completely after getting my STT certificate this March. Indiabulls is deleting scripts almost everyday without any notice. You cannot trade even in Fedders llyod, LLoyd Eng., Relaxo etc. They provide the quotes, but when you enter the order, PIB informs that the script is not traded. They seem to be more interested in real-estate and personal loans.

vk_pawar · #12 2nd February 2007, 05:28 PM

Hi Jinny
Can you tell exact site of RK Global.
Thanks

Quote:

Originally Posted by kurian

hai jinny

thank you very much.
kuian joseph

JINNY · #13 2nd February 2007, 06:02 PM

Quote:

Originally Posted by vk_pawar

Hi Jinny
Can you tell exact site of RK Global.
Thanks

www.rkglobal.net

NAVEEVIa · #14 12th February 2007, 05:46 PM

Hey Jinny
i am using ODIN for 4 months & i think its the best
My broker is religare & they charge me .03% which comes ot to .05% including everything
There r no resrictions on which scrips u can trade & daytrading till 3:30 pm
is allowed i.e no auto square up, levreage given is 10 times
Overall i am satisfied but i wanna reduce my brokerage bill
Two questions
1. Suppose u hv 10000 as margin & with 6 times levrage can take position worth 60k with RK, suppose u lost 1000, now in ue next trade what will be ur postion size 54000 or same 60k, In my case it remains the same.
2. did u have any problems with RK service & other charges come to hw much say 1 paisa 0r 1.2 paisa
Appreciate ur help
Naveen

NAVEEVIa · #15 12th February 2007, 05:48 PM

Also do u hv any idea of other brokers providing ODIn
Is there any difference between ODIN diet & Odin Client
I have Odin diet
Thnx
Naveen

uasish · #16 12th February 2007, 06:16 PM

Quote:

Originally Posted by JINNY

www.rkglobal.net

Jinny,
Have u compared the rates of PIB & RK g.... ? is there any delay ? Do RK....
also have charting facility like PIB or Sharekhan ( i mean Iris software) ?
Asish

JINNY · #17 13th February 2007, 12:34 PM

Quote:

Originally Posted by NAVEEVIa

Also do u hv any idea of other brokers providing ODIn
Is there any difference between ODIN diet & Odin Client
I have Odin diet
Thnx
Naveen

Hi Naveeva:

I'm sorry for late reply.

1.They have a surveillance watch system which would have reduced the exposure limit to 54000.

2. .03 % is abominable compared to Rs.9.00. RKG has not billed me for any other charges (like indiabull's Position Holding Charges) till now. My be they will get smarter soon as they are moving their registered office to Mumbai.

3. PROBLEMS I'VE FACED WITH RK GLOBAL.

a) They will send you an alert at 3.33PM to pay MTM loss by next morning or they will square of the position.

I received one such alert y'day and within 10 minutes i transferred the money online from HDFC. Funds view in Odin was updated immediately.

BUT one Mr. Ahuja called me today at 11.30 in thick of market action asking me brusquely and harshly (don't expect manners from these penny brokerage houses ) and asked to pay for MTM loss. When i told him that i've already transferred the money, he said they have not received it. Then I asked him to let me speak to their one Mr. Sanjay (maybe he is head of all these fellows) who after 5 minutes including lot of keyboard click sounds clarified that, yes, they have indeed received the money! That tell a lot about their back-office set up.

This is very very disturbing during market hours.

b)The equity i bought on 8th Feb. in delivery was not in my portfolio till 12th Feb. When i sold it i was required to call them up that this orders was against my buy order of 8th Feb.

AND when it gets sold you do not get immediate credit in your account. So in nutshell BTST is a big problem with RKG. So i bought the covering equity on PIB instead of RKG.

RKG appears to be a typical Marwari Business without optimum utilisation of automation in backoffice chores, relying solely on one trusted employee and in perpetual fear of client running away with their money

But then, when i see their brokerage bill against that of Indiabulls , i forgive them ...... till someone else come up with similar brokerage. After all we are here to make money.

thanks and regards.

JINNY · #18 13th February 2007, 12:37 PM

Quote:

Originally Posted by uasish

Jinny,
Have u compared the rates of PIB & RK g.... ? is there any delay ? Do RK....
also have charting facility like PIB or Sharekhan ( i mean Iris software) ?
Asish

Pl. clarify what you mean by rates ? you mean tick values in PIB and Odin or brokerages? If it is tick value : then amounts/quantities are same but Odin is earlier.

There are no charts with RKG Odin and no BSE.

NAVEEVIa · #19 13th February 2007, 01:48 PM

Tnx a lot Jinny
I wonder why any daytrader shud use anything else but odin .
now in continuity to my question: Wud there surveilance system upgrade limit i.e. if i make 1000 then wud my postion size be increased to 66000.

I see that most of ur problems with RK ppl are delivery based, I am a daytrader & only take postions spanning more than a day in options
Now religare creidts/debits my A/c same day evening so that it is reflected tomorrow
Hw is it with RK
Thnx agian
Naveen

NAVEEVIa · #20 13th February 2007, 01:50 PM

One more thing
Do they offer ODIN diet or client
whats the difference between the two

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