Online trading: Geojit Vs Indiabulls

Kandhan · #1 1st June 2005, 06:53 PM

I want to do online trading and I have shortlisted Geojit and Indiabulls as my options.

I am confused as to who provides better online trading service. Geojit charges 0.4% brokerage and Indiabulls charges 0.5%brokerage
for online trading. But I need to open a demat account with either of them to do online trading.
And Indiabulls charges one time fee (Rs.700) for both demat and trading account while geojit charges Rs.200 for opening demat/trading account
and Rs.275 as maintenance fee for demat account.

I am also wondering if Geojit has really any customers.

I went through the other related threads and no one has commented about Geojit online trading service.

It would be great if somebody helps me in choosing the right one.

prashkr · #2 2nd June 2005, 05:55 AM

Geojit has been around for a long time and are having a very good network. I am trading with geojit and have been a member since 1997. I have no idea about India bulls. But as regards to geojit i can vouch for it.

Kandhan · #3 2nd June 2005, 10:24 AM

Quote:

Originally Posted by prashkr

Geojit has been around for a long time and are having a very good network. I am trading with geojit and have been a member since 1997. I have no idea about India bulls. But as regards to geojit i can vouch for it.

Thanks Praskr. I am happy to hear about Geojit. Hope u r using their online trading service. I posted my queries in another forum.

Here is what they said about Indiabulls:

Though I dont do trading from indiabulls but there is some truth in what dynoo says bcoz that is what I have heard from some of my friends who had the experience of indiabulls.....their biggest problem is going to the limits with trading and then cutting the positions.

Keep away from IndiaBulls!

Dear Kandhan, I don't know abt Geogit 'cause never used their services, but stay away from IndiaBulls...very bad xperience with these guys...they goad u to trade heavily over & above ur financial limit & than normally forces u to cut ur bought positions at the bottom or ur sold position at the peak...later while talking to one of their Relationship Managers, one came to know that the staff of IndiaBulls get incentives of 20-25 percent on all brokerages, hence they have a vested interest to trade heavily without following any fundamentals or technicals. Also, because of the incentive thing, the RMs (who r freshers just out of 3rd rate donation- based colleges) have a sneaky habit of trading in ur account without taking any confirmation from u as they have a masterkey password thru which they can operate ur account without u knowing it. In this respect, I have just heard that recently their was some violence in their UP's Gaziabad branch with a group of clients because of IndiaBulls habit of overtrading without the clients permission.

prashkr · #4 2nd June 2005, 12:41 PM

Hi Mr.Kandhan,
From what i read about indiabulls,here geojit its really very good. They dont allow u to overtrade and also they are strict about margins. The payout is on time,no matter what happens. At present i am at Kansas,US i take positions with no hassles and they have online support when market is on.The staff is the best of all brokerages i know.
regards

sunandoghosh · #5 2nd June 2005, 02:39 PM

Quote:

I posted my queries in another forum.

can we know the name of other forum??????

general advice: since no exp with geojit or indiabulls; can only say stick to those which most people are using in this forum...that way u will have more support and help...and can be ensured that u r not losing even if its not the best...

check and please read all posts in following thread

http://www.traderji.com/brokers-demat-matters/2141-confused-sharekhan-vs-icicidirect-vs-hdfc-vs-kotak-vs-indiabulls-vs-5paise.html

regards,

sunandoghosh at rediffmail dot com

Kandhan · #6 2nd June 2005, 03:01 PM

Hi Sunandaghosh,
The forum that I mentioned is moneycontrol.
I went through the other thread. I thought u r already using Indiabulls. Haven't u got a trading account?

Kandhan · #7 2nd June 2005, 04:19 PM

Thanks prashkr for sharing your experience with Geojit. I think I can go ahead with opening account with Geojit.

But there was a negative comment mentioned about Geojit in another thread:

Till date I am not able to match my accounts with theirs, always there is a difference of some hundred rupees, and also if I go to ask the details of the charges charged by them none of their staff knows anything regarding that.

Is it true?

hmp · #8 2nd June 2005, 04:27 PM

Quote:

Originally Posted by Kandhan

Thanks Praskr. I am happy to hear about Geojit. Hope u r using their online trading service. I posted my queries in another forum.

Here is what they said about Indiabulls:

Though I dont do trading from indiabulls but there is some truth in what dynoo says bcoz that is what I have heard from some of my friends who had the experience of indiabulls.....their biggest problem is going to the limits with trading and then cutting the positions.

Keep away from IndiaBulls!

Dear Kandhan, I don't know abt Geogit 'cause never used their services, but stay away from IndiaBulls...very bad xperience with these guys...they goad u to trade heavily over & above ur financial limit & than normally forces u to cut ur bought positions at the bottom or ur sold position at the peak...later while talking to one of their Relationship Managers, one came to know that the staff of IndiaBulls get incentives of 20-25 percent on all brokerages, hence they have a vested interest to trade heavily without following any fundamentals or technicals. Also, because of the incentive thing, the RMs (who r freshers just out of 3rd rate donation- based colleges) have a sneaky habit of trading in ur account without taking any confirmation from u as they have a masterkey password thru which they can operate ur account without u knowing it. In this respect, I have just heard that recently their was some violence in their UP's Gaziabad branch with a group of clients because of IndiaBulls habit of overtrading without the clients permission.

Just stay awway from indiabulls if u dont want to lose your hard earned money. They have lot of problems. They only know to extract money from u.

nareshch · #9 2nd June 2005, 05:49 PM

Quote:

Originally Posted by Kandhan

Thanks Praskr. I am happy to hear about Geojit. Hope u r using their online trading service. I posted my queries in another forum.

Here is what they said about Indiabulls:

Though I dont do trading from indiabulls but there is some truth in what dynoo says bcoz that is what I have heard from some of my friends who had the experience of indiabulls.....their biggest problem is going to the limits with trading and then cutting the positions.

Keep away from IndiaBulls!

Dear Kandhan, I don't know abt Geogit 'cause never used their services, but stay away from IndiaBulls...very bad xperience with these guys...they goad u to trade heavily over & above ur financial limit & than normally forces u to cut ur bought positions at the bottom or ur sold position at the peak...later while talking to one of their Relationship Managers, one came to know that the staff of IndiaBulls get incentives of 20-25 percent on all brokerages, hence they have a vested interest to trade heavily without following any fundamentals or technicals. Also, because of the incentive thing, the RMs (who r freshers just out of 3rd rate donation- based colleges) have a sneaky habit of trading in ur account without taking any confirmation from u as they have a masterkey password thru which they can operate ur account without u knowing it. In this respect, I have just heard that recently their was some violence in their UP's Gaziabad branch with a group of clients because of IndiaBulls habit of overtrading without the clients permission.

Indiabulls do offer margin on your cash up to 4 times but It doesnot mean u must utilize the same.The first principle of trading is " Dont trade more than the money you have " .
If you trade usig the extra margin provided by Indiabulls , they may square off your positions with some calculations ( ie... ratio of your funds to funds provided by indiabulls ..Normally if the ratio crosses 80% funds by indiabulls will square ur positions ) .I had this experience BUT , The RM called me in the previous day evening , told me the scenario that my funds are less , so to hold the port folio i have to add some funds or reduce the port folio or allow them to square ..I told him that i will re size my portfolio and thats done ..I dont think its wrong in the part of Indiabulls .i realized my mistake on that day and keeping watch on margin funds .
Regarding RM's operating our account ..I dont agree with that. whats wrong with the ghaziabad Indiabulls I dont know ..But we ( Me along with 4 of my friends had ac with Indiabulls ) never had an incidence that my account is operated by some one else from Indiabulls .
Regarding RMs getting commision , Its a known fact that they get percentage of our brokerage. . Whether its Indiabulls Rm or geogit people or who ever gives the tips or news letter ..Do your home work and you will be the winner .

Regards
Naresh

nareshch · #10 2nd June 2005, 05:56 PM

Quote:

Originally Posted by Kandhan

I want to do online trading and I have shortlisted Geojit and Indiabulls as my options.

I am confused as to who provides better online trading service. Geojit charges 0.4% brokerage and Indiabulls charges 0.5%brokerage
for online trading. But I need to open a demat account with either of them to do online trading.
And Indiabulls charges one time fee (Rs.700) for both demat and trading account while geojit charges Rs.200 for opening demat/trading account
and Rs.275 as maintenance fee for demat account.

I am also wondering if Geojit has really any customers.

I went through the other related threads and no one has commented about Geojit online trading service.

It would be great if somebody helps me in choosing the right one.

In Indiabulls you need to pay another Rs750/- (one time ) if u want to use their software based trading platform (power indiabulls ) . Regrading brokerage of 0.5% , you can bargain this till 0.25 to 0.3% .

Naresh

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