Confused - Sharekhan vs Icicidirect vs Hdfc vs Kotak vs Indiabulls vs 5paise

hi guys
this is a nice thread
iam using reliance wireless dial up for sharekhan classic
how can i improve the speed with exsting dialup'
should i switch to speed trade or power trade of india bulls
pl advice

Hi All,

I am interested in opening a Demat Account in an Indian bank which would allow me to buy and sell shares in Indian Companies. I have recently taken the Canadian Citizenship and have a Canadian Passport. I do not use my Indian Passport anymore but I have taken the Overseas Citizenship of India certificate and so I am a dual citizen of Canada and India . I have a PAN number although I do not have the actual/original PAN card with me as it is India .

After considering the above information, could anyone please answer the followings questions:

1) As a Canadian Citizen and having Indian OCI certificate, am I eligible to open a Demat Accounts in a Indian Bank? If yes, which Indian or foreign banks in Canada would help me in opening the account in Toronto ?
2) Is Original PAN card or photocopy of the PAN card required or would PAN number be sufficient?
3) If the Demat accounts cannot be opened in Toronto , would I have to go to India to open it at a Local bank?

I would really appreciate if you could answer the above queries for me.

Looking forward to hearing from you.


SM1

Friends,

I would like to share my 7 years experience with few brokers on online share trading. I find lot of articles appearing concerned with broker house.

Name of broker. S/w. Customer Service. Brokerage.

ICICI GOOD GOOD VERY HIGH
SSKI BETTER IT WAS BEST. NOW ONLY GOOD. VERY HIGH.
MOTILAL GOOD SATISFACTORY JUST OK
ILFS POOR POOR JUST OK
REFCO POOR POOR JUST OK
GEOGIT POOR POOR JUST OK
5PAISE GOOD POOR JUST OK
INDIA BULLS BEST POOR OK
RELIANCE MONEY WORST VERY POOR (BUT IMPROVING) CHEAPEST
RELIGARE POOR SATISFACTORY OK.

The above is based on my experience. Some of them had hidden charges which was not disclosed while opening the account. (5 paisa and Geogit -over which I closed the accounts).

Thus each broker has some or other draw back and every time I find that one has to open the account to get proper know-how about the said brokers. I am fed up and during the last 7 years I failed to find some one who is really good in all respectS. I still find that SSKI is best but due to high brokerage, I hv never made profit with them and therefore am now keeping away eventhough I had not closed account. Most of the borkers give different brokerage depending upon assured volume. India Bull is only the broking house which gives lower brokerage without any conditions but worst with them is their contract note system. Web based contract note does not have head or tail nor I hv ever been able to download it. They send by courier or post; many times it takes a fortnight to reach and some times do not reach at all. This is only a worst area of IB and after protracted correspondence/suggestions, I hv finally decided to quit. So far, in 7 years, I could find none.

The above is without any prejudice and based my experience. Incidentally, only last year I made marginal profit which was due to reduced brokerage by India Bulls. Inspite of this, I shall be quitting IB since their contract note system is creating problems and many times I had to incur avoidable loss.

Hi Bangerabs,

Sorry to read about your bad experiences - is it typical for all online players? I am seriously thinking about starting online trading and am wondering after reading all these whether it is better to stick to mutualfunds! BTW do you have any experience with idbipaisabuilder? I dont see them mentioned much here.

Thanks for sharing!

Raj

Dear all respected members,
I am a newbie in stock market, planning to open Treding and Demat a/c with a Gud Broking House. I visited some of the firms like Kotak, ICICIDirect, ShareKhan, Motilal..But all of them just shown their own +ves and other's -ves.. I am still in a dilemma that which firm I should be tie up with..

# Initially I would strart with a sum of 25-30 thousand..
# I have a full time high speed net connection and
interested in IntraDay transaction
#I am also confused with.. what exactly that Delivery
Charge means?.. like Kotak is charging 23 rs per
delivery

Thanx in advance
Regards
Pawan

Dear Pawan,
If you bought 100 shares of Reliance and will sell after two / three days after getting delivery in your demat a/c. All DP charges some amount when any share is delivered. Share incoming is free but outgoing from demat a/c is charged per ISIN. In your case Kotak is charging Rs.23 per scrip at a time for giving delivery to other broker to whom you will sold the share. Hope this clarifes the delivery charges. In case if you want to sit whole time during market our on PC then you should go for Indiabull. Their software is very good and you can negotiate for brokergage. If you want cheap brokerage as main criteria, then Reliance Money will definitely be a good option. It is up to you what is your exact requirement.

Thanx Rani

Recently I came to know abt one more sort of charge DP Charge .. wat is it (For Kotak it is 0.04%)??

Also Please clarify the "Time lag" that occurs in incoming of shares in Demat a/c. (somebody told me it takes 3 days, if so then How cud I be able to sell those shares on day2 and day3 )??

Also is there any time lag between money withdrawn from Saving account and delivery of shares in Demat account.

Thanxx all.. for ur kind help.. These are really sme very valuable deposit in My knowledge a/c .. Thanxx again..

Regards
Pawan

sharekhan or angel broking which one shud i prefer

sharekhan or angel broking which is better in givivng assistance & service

I like IB's software.......the squaring off intraday positions 30 min prior to market close however is absolutely unacceptable.....I prefer 5 Paisa......great service atleast from Pune offices!