|
|
| Discuss Cheapest & Competent Brokerage at the Brokers & Demat Matters within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Happy New Year to everyone. I'm starting this new thread hoping that it will be ... |
|
|||||||
| Notices |
| Brokers & Demat Matters Talk about brokers, share transfers, demat matters and depository participant service providers. |
 |
|
|
Thread Tools |
| Sponsored Links |
|
#1
1st January 2007, 08:34 PM
|
|||
|
|||
Cheapest & Competent Brokerage
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. Last edited by JINNY; 5th January 2007 at 12:27 AM. 
|
| The Following User Says Thank You to JINNY For This Useful Post: | ||
manu1212 (Yesterday) | ||
|
#2
1st January 2007, 08:52 PM
|
|||
|
|||
Re: Cheapest & Competent Brokerage
Hello Jinny,
Thanks for your information on R K Global . You are correct about India Bulls. Indiabulls is deleting scripts almost everyday without any notice.More over orders are executed in delay. I never had any proble with IB but these problems just recently started. Coming to R K Global could you kindly give more information on the following. 1. Is their odin gives RT quotes without any delay 2. What is the commission they charge for the delivery based trades on NSE cash scrips.(one way) 3. What is the maximum exposure on cash deposit for intraday and delivery trades. I read in their website it is 6 times for intraday. Some of the menus of the website is not working . For intraday unike India Bulls the square off starts at 3.15 p.m. 4.Is there any monthly or annual maintanence charges for ODIN. I think i also read n their website they charge an amount for ODIN monthly. Not too sure about it. Regards Saji
|
|
#3
1st January 2007, 09:17 PM
|
|||
|
|||
|
Re: Cheapest & Competent Brokerage
Quote:
Thanks for your post. Re. R K Global: 1. Data: Their ODIN data is exactly same as PIB - in respect to moment of quotes changes (exact instance-if you open both PIB and ODIN in two windows at same time), prices, quantities (buy, sell etc.) and even faster sometimes especially between 3.15 - 3.30. And most important, their refresh system is very fast compared to PIB where you get all sort of message alerts/popups whole day. Sometimes even F&O data is not loaded on refresh in PIB asking client to do it manually. My God ! who has time during maket hours to m a n u a l l y load the F&O data  . As I said, maybe IndiaBulls are no longer interested in brokerage business.And i've found method of adding deleting scripts in ODIN easier and efficient compared to PIB where i need to press right mouse button and negotiate at least two search fields in a new popup - very distracting. In ODIN you can add new script without opening any popup. Another important difference : when you place an order for Futures in PIB, you need to manually enter quantity, but not in ODIN if you want to trade only 1 contract. Very crucial time saver in fast moving market. These are vital time saver features especially for people using online mentor/advisory services. 2. Brokerage is same even for delivery based trades (either way) : Rs. 9 per trade or Rs. 999 per month flat. 3. Exposure: i'm not 100% sure. But I spoke to their Director who told me that its same as Indiabulls. He also told me that they are also an established group in real estate - M2K mall in Delhi is owned by them - Good for confidence  4.Yes, they have monthly charges: Rs.111.00 per month for ODIN client. No charges for internet based trading interface. For traders whose brokerage comes to several thousand rupees every month, the Odin maintenance charges are negligible. 5. No minimum turnover or brokerage requirement. If anyone plans to open an account with them, i would advise from my experience that one should contact the company and insist that they should not send a DSA to get forms signed. These DSAs will tell you that they are from the company but when they submit the form they simply put in their company's similar sounding name (R K Shares & Securities!) regards, jinny Last edited by JINNY; 2nd January 2007 at 08:39 AM.
|
|
#4
2nd January 2007, 10:50 AM
|
|||
|
|||
|
Re: Cheapest & Competent Brokerage
Quote:
|
|
#5
2nd January 2007, 11:29 AM
|
|||
|
|||
|
Re: Cheapest & Competent Brokerage
Quote:
Thank you... reghu.
|
|
#6
2nd January 2007, 12:19 PM
|
|||
|
|||
|
Re: Cheapest & Competent Brokerage
Jinny,
re RK global. When I made an inquiry with them for ODIN they told me that I have to pay Rs 500 per month for it , whats more it wont be adjusted towards the brokerage. They further alleged that those customers who cant pay 500 Rs / month , for them they have web based interface , browser based system , where the monthly charges is just 99. Jinny , Can you please tell me is there any monthly charges for ODIN ? If yeh then how ? Secondly , their dial and trade facility is charged extra , no problem but do they provide any TPIN for tele orders ? how are tele orders executed pls throw some light on offline trading with RK global.
|
|
#7
2nd January 2007, 09:43 PM
|
|||
|
|||
|
Re: Cheapest & Competent Brokerage
Quote:
|
|
#8
2nd January 2007, 09:50 PM
|
|||
|
|||
|
Re: Cheapest & Competent Brokerage
Quote:
I've not used their dial up service. Please send them e-mail - they respond quickly the same day (compared to RelianceMoney who still have not responded even after 12 days for a simple question : if I can use InstaTrade ?)
|
|
#10
1st February 2007, 09:49 PM
|
|||
|
|||
|
Re: Cheapest & Competent Brokerage
Quote:
http://www.ftindia.com/odindiet.htm What you see on this web page is exactly what you get from RKG. Please understand that trading software is very critical and expensive. Brokers especially the smaller ones cannot risk anything at this point. Almost all brokers have been supplied front end trading software by Financial Technologies - including that of PIB and Sharekhan.
|
| Sponsored Links |
|
|
|
| Bookmarks |
| Thread Tools | |
|
|
Similar Threads for: Cheapest & Competent Brokerage
|
||||
| Thread | Thread Starter | Forum | Replies | Last Post |
| Brokerage? | Amandeep | Brokers & Demat Matters | 47 | 2nd August 2008 04:15 PM |
| Zero Brokerage | trader31339 | Brokers & Demat Matters | 19 | 3rd July 2008 08:43 AM |
| can NRI's trade intraday on any online platform, wher will i find cheapest brokerage | JAG | Brokers & Demat Matters | 2 | 13th March 2006 05:07 PM |
| brokerage | yezdi | Brokers & Demat Matters | 0 | 25th January 2006 07:48 PM |
Indemnity, Disclaimer & Disclosure
Notice:
• By visiting Traderji.com you indicate your acceptance of our Forum
Rules Disclaimer & Disclosure and indemnify Traderji.com, its
associates and related parties of all claims howsoever resulting from
the usage of the forum.
• Disclaimer: Trading or investing in stocks & commodities
is a high risk activity. Any action you choose to take in the markets
is totally your own responsibility. Traderji.com will not be liable for
any, direct or indirect, consequential or incidental damages or loss arising out of the use of this information.
• Disclosure: The information in this forum is neither an offer to sell nor solicitation to buy any of the securities mentioned herein.
The writers may or may not be trading in the securities mentioned.
• All names or products mentioned are trademarks or registered trademarks of their respective owners.
General Content Disclaimer Notice:
In light of our policy of encouraging candid, open exchanges of views and the rapid distribution of information originating from many sources, Traderji.com cannot determine the accuracy of information that may be uploaded to the forum. Opinions, advice and all other information expressed by participants in discussions are those of the author. You rely on such information at your own risk. You are urged to seek professional advice for specific, individual situations and not rely solely on advice or opinions given in the discussions. Since Traderji.com is an open and free discussion forum, any comments made by members of this forum in their posts reflect their own views and not of the owner or administrator of Traderji.com. Thus the owner/administrator indemnify themselves of all claims whatsoever and will not be liable or responsible for any members comments/views in this forum Traderji.com. If you find any objectionable or offensive posts made by members of this forum which you would like to bring to our notice for removal then please Contact Us.
