Any Broker who deposits the money on same day sell

gilly_kumar · #1 15th May 2006, 09:52 PM

Hi,

Does any one can give some information on trader, who deposits the money on the same day we sell. Right now i am using ICICIDirect. Who deposit the fund only on the 3rd day.

Thanks
Gilly

mohdbinhaid · #2 15th May 2006, 10:45 PM

Quote:

Originally Posted by gilly_kumar

Hi,

Does any one can give some information on trader, who deposits the money on the same day we sell. Right now i am using ICICIDirect. Who deposit the fund only on the 3rd day.

Thanks
Gilly

Hello,

i am not aware of other brokerage firms but as far as indiabulls is concered, if you have an account with a bank which provides net banking such as HDFC or ICICIbank , then it will hardly take 45 min to tranfer funds from your a/c to your trading a/c..

regards
Mohammed Bin Haid

marcus · #3 15th May 2006, 11:19 PM

Ahmad,

I 2 face the same problem, but I know that Kotak will deposit the money on the same day if you have an account with kotak bank.

I am also on the look out for a good broker as I'm losing out on a lot of good trades due to Idirect's limited & unreliable service.

In Ibulls a lot depends on your relationship manager, some of them talk very sweetly and sort of soften you up and then one day you'll find there shares in your demat a/c. However I'm told a lot of ppl have complained and the management is looking into the matter. They were also repremanded by SEBI for POA violations.

All my friends who use sharekhan are satisfied, but I want odion/orion or any other s/w which will help me in day trading.

What I'm looking for is

1)reasonable brokerage
2)dedicated trading platform
3)same day money transfer
4) BSE & NSE (I don't trade commodities)
5)Short selling

Someone on the forum mentioned religare which more or less satisfied the above criteria so I'm going to look into it.

Can anyone comment on religare?

mohdbinhaid · #4 15th May 2006, 11:39 PM

Quote:

Originally Posted by marcus

Ahmad,

In Ibulls a lot depends on your relationship manager, some of them talk very sweetly and sort of soften you up and then one day you'll find there shares in your demat a/c. However I'm told a lot of ppl have complained and the management is looking into the matter. They were also repremanded by SEBI for POA violations.

What I'm looking for is

1)reasonable brokerage
2)dedicated trading platform
3)same day money transfer
4) BSE & NSE (I don't trade commodities)
5)Short selling

Someone on the forum mentioned religare which more or less satisfied the above criteria so I'm going to look into it.

Can anyone comment on religare?

Hello marcus,

Its no secret that this kind of people exist in every kind of organistion be it Indiabulls or any other brokerage firm...You cant think that all will do the same.

As far as your requirements are concered, i can provide you with all this services.If you want to give a try for indiabulls and a chance to me to prove that all RMs are not the same, i will prove that wht you thought was wrong.If your interested , you can mail me at mohdbinhaid@************ so that i will send you the details about the offer

Regards
Mohammed Bin Haid

marcus · #5 16th May 2006, 02:51 AM

Dear Ahmed,

You are absolutely correct, all ppl are not the same and its unfortunate that a few should resort to an unethical practice.

I am sure should anyone have the good fortune to have you as his RM he would be a very happy customer

I hope you understand, its nothing personal & you do not have to prove your integrity as no one here has ever doubted it. Its just that hearing about these unfortunate stray incidents makes people hesistant, thats why I had mentioned it.

saji oommen · #6 16th May 2006, 03:51 AM

Hello Marcus,

Well said, I think we all need more people like Mohammed Bin Haid who seems to be very sincere and helpful.

Regards

Saji

bangerabs · #7 16th May 2006, 03:36 PM

Sir,

I need good online share brokers for NSE/BSE. I hv tried SSKI, wherein one has to log-in separately for BSE/NSE and their service is deteriorating fro day to day. India Bulls only after interest charges and no service. Also least transperancy. ICICI's website is very poor. Every minute oe has to log-in and rates do not get refreshed. Any good alternative please?. With Geojit I found that they offered 0.03 for trading. But after opening account I cam to know that minimum charge per trade/per contract is Rs.20/-. This, they had not disclosed while opening the account.

Compared to any still I stick to SSKi since there is tranansparncy, no hidden cost. Yet their site is not good for NSE/BSE trading simultaneously and of-late, they fail to respond to e-mail querries.

dantool · #8 19th May 2006, 12:49 AM

i've found 5paisa to be reasonably good...have an account with sski and ibull also

beginner_av · #9 20th May 2006, 10:04 AM

All crap about indiabulls. they take one to two days to transfer the money...then your bank releases...so one to two days are a minimum.

jdm · #10 23rd May 2006, 09:11 PM

Quote:

Originally Posted by gilly_kumar

Hi,

Does any one can give some information on trader, who deposits the money on the same day we sell. Right now i am using ICICIDirect. Who deposit the fund only on the 3rd day.

Thanks
Gilly

my dear icicidirect itself has this option.

while putting a sell order simply choose SPOT in place of CASH as the mode of trade. (you get an option of cash, margin & spot, cash being the default) the amount is credited around 6PM on the same day.

however the brokerage for SPOT trades are @ 1.25% or Rs. 25 whichever is higher.

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