Open a Trading Account with HDFC bank

moneypick · #1 2nd August 2005, 12:29 AM

Hi everyone

I would like to open a trading account with HDFC bank? Plese give
me your valuable suggestion. My decision is right or worng?

Thanks

Working class · #2 2nd August 2005, 07:21 AM

hi if you are a long term and a short term investor then u can go ahead and open an account with HDFC they are good and safe.
If you are a daytrader and are always glued to the market then I will not suggest you for this then u can go for Indiabulls for this as per my experience with both of them.

As far as HDFC is concerned u might get some time problems of server is down or unable to connect but u don't have to worry net related problems all online brokers face in India. No broker till date is able to give fault free services no matter who they are. HDFC is good and reliable all depends upon wat type of trading options u like. Online brokers and there promoters always hang around the net and keep posting messages as investors and give wonderful experiences of there as an investor. so u can check feed backs with people around u will get a solution.

Regards

jaspal · #3 2nd August 2005, 12:05 PM

Hi Working Class 100% Agree With You
HDFC is not good for day trading. Indiabulls is very very good.
In HDFC Sec. We have to search symbols, and order book is also not too good..
Overall HDFC is suitable fo long term Trader

Regards
Jaspal

moneypick · #4 2nd August 2005, 10:50 PM

Quote:

Originally Posted by Working class

hi if you are a long term and a short term investor then u can go ahead and open an account with HDFC they are good and safe.
If you are a daytrader and are always glued to the market then I will not suggest you for this then u can go for Indiabulls for this as per my experience with both of them.

As far as HDFC is concerned u might get some time problems of server is down or unable to connect but u don't have to worry net related problems all online brokers face in India. No broker till date is able to give fault free services no matter who they are. HDFC is good and reliable all depends upon wat type of trading options u like. Online brokers and there promoters always hang around the net and keep posting messages as investors and give wonderful experiences of there as an investor. so u can check feed backs with people around u will get a solution.

Regards

Hi Working class

Thanks for your reply

Can you spare some more information?

HDFC charge brokrege @ 0.5% + taxes. Is there any hidden cost? Can I order
when market off?

Thanks,

(Moneypick)

drapholla · #5 21st August 2008, 10:32 PM

Sir,

I had applied for dmat account through hdfc bank in october 2007 and till now my account has not been opened. They didnt even provide me the application number or client id. The representative came and took 13 signatures , required documents and 20,000 cheque , and left with assurance that with in 1 month i will get the account number. After that they had opened my sb account which is needed for trading in wrong branch which is around 30 km from my place. Then on protesting they transfered it to nearer bank with much delay( in december 2007). Now they are claiming that i had not applied for dmat account. Since i am doing dermatology MD in PGI chandigarh and i am very busy to do something regarding this. But still i went to consumer forum and now matter is in court. Bank people are saying that since i am busy with my academics i cant do anything. Please help me how to track my dmat account status with out my application number and bank's co operation

SavantGarde · #6 22nd August 2008, 04:30 AM

With The Amount Of Problem You Have Faced Just Opening Your Demat & Savings Account, You Should Feel Lucky To Have Discovered Their Inefficiency At Such An Early Stage.

My Sincere Suggestion Is Open A Demat Account With A Good Reputed Broker Ask Around For Recommendations From Your Friends Who May Be Dealing With One, Also While You Are At It Find Out If Any Of Them May Have Encountered Any Problems & The Nature Of The Same. Once You Are Realatively Satisfied Go Ahead & Open Trading & Demat Account With The One You Feel Most Comfortable.

Happy & Safe Investing

SavantGarde

Quote:

Originally Posted by drapholla

Sir,

I had applied for dmat account through hdfc bank in october 2007 and till now my account has not been opened. They didnt even provide me the application number or client id. The representative came and took 13 signatures , required documents and 20,000 cheque , and left with assurance that with in 1 month i will get the account number. After that they had opened my sb account which is needed for trading in wrong branch which is around 30 km from my place. Then on protesting they transfered it to nearer bank with much delay( in december 2007). Now they are claiming that i had not applied for dmat account. Since i am doing dermatology MD in PGI chandigarh and i am very busy to do something regarding this. But still i went to consumer forum and now matter is in court. Bank people are saying that since i am busy with my academics i cant do anything. Please help me how to track my dmat account status with out my application number and bank's co operation

ARMHM · #7 22nd August 2008, 05:44 AM

Quote:

Originally Posted by drapholla

Sir,

I had applied for dmat account through hdfc bank in october 2007 and till now my account has not been opened. They didnt even provide me the application number or client id. The representative came and took 13 signatures , required documents and 20,000 cheque , and left with assurance that with in 1 month i will get the account number. After that they had opened my sb account which is needed for trading in wrong branch which is around 30 km from my place. Then on protesting they transfered it to nearer bank with much delay( in december 2007). Now they are claiming that i had not applied for dmat account. Since i am doing dermatology MD in PGI chandigarh and i am very busy to do something regarding this. But still i went to consumer forum and now matter is in court. Bank people are saying that since i am busy with my academics i cant do anything. Please help me how to track my dmat account status with out my application number and bank's co operation

A very simple solution is to close the savings account (if you have an account with other bank) and open a trading account with any non-bank broker. There are many who will happily open the account within a week's time. I too had similar experience with ICICIdirect. They took more than two months for opening the account. Moreover the address of communication for demat account and Bank account were different. How do these people the agents(they are not employees of the bank I guess) commit these errors I wonder. Although the application for demat, bank ac and trading ac were made on the same date. My experience with ICICI was not good. During market hours many a time I lost money because the order never got routed to exchange. Thier mrket depth window does not refresh automatically. Quotes are delayed as well etc. etc. So I closed my ac last year and now I am with other non-banking broker.

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