Who makes stupid statements that Geojit is the best? Read this.

Originally Posted by marcus

Not really sure, they used to be called sify-refco1 but when refco USA got into severe financial trouble I believe they parted ways and are now called man financials, not sure who they aretied up with at the current time.

Originally Posted by beginner_av

Who says Geojit is the best and why? I went with someone (say A, name not disclosed) to open an account. I convinced A after reading the thread here. And now A abuses me everyday. Read on. First, they were very slow. You have to get a Doctor?!## (ya thats true) or CA or gazetted officer to introduce you. Like PSU banks!!! Still we ran around and managed. They said it will be opened in 4 days. Its 18 days now and we are still waiting. When A called them, they said your number is ****. You can call and trade. What about internet? It will come soon. "You can see it comes from Finance towers, Kochi" or some stupid place. Incidentally my books come from the US in a week. I heard some people call up and shout about cheques and debit problems and they were saying please wait, it will be done in 3-4 more days.
On top of that their platform is stupid. If you want real time quotes commit a brokerage of 3000 per month. Check my thread below for the rest

Dear Friends,
How can someone claim that this is the best or that is the best. Reading the threads, i realized that there are many members who depend on the valued opinions of others to arrive at a decision, the most common one being which brokerage to choose. Hence it is absolutely unacceptable to proclaim that Geojit is the best. Talking about problems is fine, but promoting one brokerage is not fine. Because there are no benchmarks and metrics to compare them. Take the case of Geojit. Is it plain naivity or a case of sheer innumeracy? How can Geojit be the best and at the same time not give real time data. For near real time data you have to commit Rs. 500 per month and for proper real-time data with fast trade execution you have to commit Rs. 3000 per month. For total trade value of Rs 30 lakhs, the brokerage comes to Rs 3000 at the rate of .1 per cent, which is very high for the kind of trading you are doing (unless all of it is delivery based, which requires Rs. 10 lakhs of trading per month), irrespective of market conditions. Indiabulls gives the same facility for a one time software fee of Rs 750 only. But Indiabulls has other issues. So it brings us back to the same points. Unless there are proper benchmarks and standards to measure the effectiveness of brokers, say on speed of execution, customer support, user friendliness, quality of RMs etc, we can only voice our experiences and not claim that one is the best. A debate is welcome.

So please dont carry self-proclaimatory thread like this here.

Originally Posted by Agilent

Thx Marcus ...

What I find most vital in choosing any brokerage is smooth funds in and out from yr designated acct . As long as seamless integration exists (like in ICICI Dir) the firm can be shortlisted

Does Man have this facility (they use HDFC Bank ..and some others?)

While on this , how come ICICI Direct does not feature in this wonderful thread ?

AGILENT

Originally Posted by marcus

Well Amit really dont know much about Man's fund transfer procedure, I just know they provide tradeanywhere.

ICICI just not worth it for traders, high brokerage, no dedicated terminal (unless of course you have directlink) and regarding fund transfer most brokers have introduced online fund transfer and its done on the same day, not instantly of course but in a few hours varying from broker to broker.