ICICIDIRECT alternative- Guys please provide your input to switch to other broker...

sam1233 · #1 19th November 2007, 11:00 AM

November 19th, Monday from 9:55 am, the server crashed.. as of now its already one hour, still the server is crashed! No one could not log in..

Experienced traders, please provide your suggestions to switch to other reliable broker..

HDFC securities - I feel its very safe and the brokerage is reasonable.. Its also bank so very less chances of cheating or trading on behalf of customers. I have heard many complaints from other borkers including sharekhan, reliance money, india bulls.. outof which sharekhan has the least complaints..

indiainfoline also seems to be good.. but its not a bank..
sharekhan also seems to be good.. but its not a bank..

Friends please provide your constructive suggestions here.. so ALL THE ICICIDIRECT guys can safely find a reliable alternative..

h.asterix · #2 19th November 2007, 11:11 AM

Hi,
I am Harish and new to this forum. I have been a user of icicidirect for quite a few years and have found that there service quality is becoming worse everyday. Even i am looking for a change.
I have narrowed down to Indiabulls because there charges are quite lower than others.
I am unable to login to either of icici bank or icici direct today morning.
Sharekhan reflected IPO refund (for Religare last week itself) whereas i am still waiting my icici bank to show me the money .. I have not been alloted any share but money has not got refunded either.
If anyone has indiabulls experience then please share your feedback.

thanks,
Harish

krezi · #3 19th November 2007, 11:13 AM

religare refund happened today morning for icicidirect...

yeah..the service of icicidirect is degrading...its been more than 1hr today...and its still offline...

su203 · #4 19th November 2007, 11:21 AM

Quote:

Originally Posted by sam1233

November 19th, Monday from 9:55 am, the server crashed.. as of now its already one hour, still the server is crashed! No one could not log in..

Experienced traders, please provide your suggestions to switch to other reliable broker..

HDFC securities - I feel its very safe and the brokerage is reasonable.. Its also bank so very less chances of cheating or trading on behalf of customers. I have heard many complaints from other borkers including sharekhan, reliance money, india bulls.. outof which sharekhan has the least complaints..

indiainfoline also seems to be good.. but its not a bank..
sharekhan also seems to be good.. but its not a bank..

Friends please provide your constructive suggestions here.. so ALL THE ICICIDIRECT guys can safely find a reliable alternative..

I switched from ICICIDIRECT to Indiainfoline in May 2007. Very happy with their brokerage i.e. 0.25% for delivery trade through on line and also their trading software 5P Trader. Why do you need a bank. Money can be instantly transfereed, whenever you require, from your bank account to the trading account, so where is the problem.

su203 · #5 19th November 2007, 11:27 AM

Quote:

Originally Posted by h.asterix

Hi,
I am Harish and new to this forum. I have been a user of icicidirect for quite a few years and have found that there service quality is becoming worse everyday. Even i am looking for a change.
I have narrowed down to Indiabulls because there charges are quite lower than others.
I am unable to login to either of icici bank or icici direct today morning.
Sharekhan reflected IPO refund (for Religare last week itself) whereas i am still waiting my icici bank to show me the money .. I have not been alloted any share but money has not got refunded either.
If anyone has indiabulls experience then please share your feedback.

thanks,
Harish

I do not know about Indiabulls but I am extremely happy with Indiainfoline. Their software 5PTrader is really very good and the brokerage of 0.25% for delivery trade done on line is very competitive in the industry.

h.asterix · #6 19th November 2007, 11:43 AM

What are the DP charges for Indiainfoline .. and are there any annual maintenance charges.
Besides 0.25%, Service Tax, STT and Stamp Duty.. are there any more charges. for example
Sharekhan charges Edu Cess and Higher Edu Cess as well. It charges 300 p.a as maintenance charges
ICICIdirect charges .04% or minimum 10/= for each sell as DP charges (besides the annual maintenance fee of 500/= i believe)
Indiabulls mentions that they charge 8/= for each sell as DP charges and there are no other charges.

It kind of becomes difficult to get a easy comparision because of these different charges in the guise of DP charges.

Can you give me some details about india infoline charges and also the ease of use of their website.

thanks,
Harish

harmads · #7 19th November 2007, 12:10 PM

1. I have been using HDFC 3-in-1 account for the past 2 years and have never faced any problems. Yes I do only long term and delivery based transactions thru this account. Its good for that. Never tried intraday thru it.
2. I use Religare for intraday. They give you a ODIN terminal if you maintain a credit balance of 5000.00 with them. Its fast and has realtime prices and you can trade without any fear of any time gap.

su203 · #8 19th November 2007, 01:12 PM

Quote:

Originally Posted by h.asterix

What are the DP charges for Indiainfoline .. and are there any annual maintenance charges.
Besides 0.25%, Service Tax, STT and Stamp Duty.. are there any more charges. for example
Sharekhan charges Edu Cess and Higher Edu Cess as well. It charges 300 p.a as maintenance charges
ICICIdirect charges .04% or minimum 10/= for each sell as DP charges (besides the annual maintenance fee of 500/= i believe)
Indiabulls mentions that they charge 8/= for each sell as DP charges and there are no other charges.

It kind of becomes difficult to get a easy comparision because of these different charges in the guise of DP charges.

Can you give me some details about india infoline charges and also the ease of use of their website.

thanks,
Harish

Indiainfoline charge you a annual licencing fee of Rs.8000/- towards the trader terminal software. However, this amount is credited back to you if the brokerage paid by you in a calender year touches Rs.8000/-. So this is good for serious players in the market and not so good for persons who who does not regularly trade. The software gives you real time prices, graphs etc. and the trade is instantaneous. It is best that you make a watch list of all the shares you track and the software gives you all the real time prices and all other related data. The brokerage is 0.25% plus 12.36% Service tax and STT and stamp duty as applicable. Service tax and STT and stamp duty is the same for all the brokerages. DP charges, i guess is almost same across all brokerage. In short, i am currently paying only one third of the brokerage i used to pay when i was with icicidirect.

su203 · #9 19th November 2007, 01:16 PM

Quote:

Originally Posted by h.asterix

What are the DP charges for Indiainfoline .. and are there any annual maintenance charges.
Besides 0.25%, Service Tax, STT and Stamp Duty.. are there any more charges. for example
Sharekhan charges Edu Cess and Higher Edu Cess as well. It charges 300 p.a as maintenance charges
ICICIdirect charges .04% or minimum 10/= for each sell as DP charges (besides the annual maintenance fee of 500/= i believe)
Indiabulls mentions that they charge 8/= for each sell as DP charges and there are no other charges.

It kind of becomes difficult to get a easy comparision because of these different charges in the guise of DP charges.

Can you give me some details about india infoline charges and also the ease of use of their website.

thanks,
Harish

If you are going with Indiainfoline, pay the licencing fee of Rs.8000/- and get the trader terminal software. If you do not pay this amount, then you will have to trade through their website which is just like icicidirect. So no use there and also the brokerage is 0.5%

HemantS · #10 19th November 2007, 11:12 PM

Hi
This is Hemant. I'm also fed up with the service of icicidirect. today full day i tried to login but server crashed.
i feel religare has some advance tools and can provide good service.
Also indiabulls is gud.
i'm planning to switch to religare.