Sharekhan: Low Brokerage

trader31339 · #1 14th November 2006, 04:13 PM

Dear Freinds,
Of all the brokerage houses I feel that sharekhan is the best in customer oriented service, my personal study. I want to open an account with them.But the problem is that their brokerage is very high and they are very adamant in coming down. If we collectively open accounts with them or negotiate then I think we can get a good quote them.
Any one knows a sub broker- franchisee of sharekhan who can give us a good deal if we collectively negotiate with him?

comments invited !

imranais · #2 16th November 2006, 03:44 PM

I am also interested in opening an account with Sharekhan as I am stuck with high brokerage of ICICI for last 2 years...

Which city are you from? I am from mumbai, probably if we can join sharekhan together we may negotiate for low brokerage....

bangerabs · #3 17th November 2006, 12:11 PM

I am already having 2 accounts with Sharekhan. I tried my level best with repeated requests to come down to comparable brokerages but are reluctant. I hv account with for over 5 years and find them best as compared to: 5 Paise, ILFS, REFCO (now Man Financial), ICICI, Motilal and finally IB. I had experience with all of these. So, now let us approach SSKI finally for consideration. But it should be without any commitment like that of IB. Due to reduced brokerage with IB, for the first time ever in my Share Market Transactions, I hv been now able to keep my head above from sinking completely. Due to this reason, I have reduced my dealing with SSKI and trade with IB. Reduced brokerage matters a lot and I observed this practically.

rajib333 · #4 17th November 2006, 12:35 PM

why dont go for reliance money?

bangerabs · #5 17th November 2006, 12:42 PM

As I hv already commented somewhere, I have had enough experiences with many. I wish not to add any more. I shall pull on with IB and switch over to SSKI if the later reduces brokerage. (unfortunately one can not have advantage of arbitrary between NSE/BSE. But this can be ignored as SSKI is most transparent and their classic site is better eventhough Speed Trade is not upto mark as compared to IB's PIB)

trader31339 · #6 17th November 2006, 07:58 PM

Bangerbs,
Yeh one this is sure sharekhan is best best best of all when it comes to customer service, its my research. Second is indiabulls. There is is distance of mile between 1st and 2nd here. I am with indiabulls only coz of reduce brokerage , else I would have opted for 1st, everyone wants the best .

in one of my post I compared these two and gave various reasons why sski is best over ib and when they are both 1st and 2nd.

What I feel is that if you need something good u have to pay a GOOD price. Quality increases-cost increases. But then cost should not be that high also.

I am constantly trying for sski, though at IB i am a VIP client with good brokerage but there is something pinching me dunno what. I want to shift to sski coz they are the best best best with customer service. Every thing is hassle free.

Here I would like everyone who are looking for lower brokerage what should be our priority?
1. LOWER BROKERAGE with a union for better and dedicated service? ie opening ac together and being together so that the co provides good better service. If we are a grp of trades no matter what our indi volumes are they will provide good service. UNITED we stand.
2. Slightly HIGHER LOWER BROKERAGE than the ABOVE , but only sharekhan?
Decide,by the time I am working on both

bangerabs · #7 17th November 2006, 08:16 PM

I fully endorse views of trader 31339. Not only that SSKI's service is the best as compared to any brokers that I have been dealt with, their site is also very easy and transparent. (Though breakdowns are more as comapred to IB). Yes, everything is hassle free. Coming to brokerage point, dear Sir, I have observed that it makes a lot of different. As I am trading full time, I have increased transactions due to keeping lower margin while buying/selling which in turn increased volume which benefits the broker as well and I have entered into green zone from hitherto red zone. I fully agree with u, SSKI is Number one excepting brokerage point and India Bull is No. 2. Contract Notes are delayed in IB and downloading from web is difficult. As on 17th PM, I am yet to receive contract notes for the trades of 13th onwards, which I would hv got from SSKI next day! SSKI send contract notes by e-mail, mostly on same day and it is easy to download. So, I am of the opinion that SSKI can beat any one if they reduce the brokerage. Today, I wrote to them requesting for considering lower brokerage and this is my final approach before I call it a day with SSKI. Also another minus point with SSKI is Minimu Brokerage of Rs.20/- per trade. With IB, it is okay even if it is just few paise.

Regards,

B.S.BANGERA

trader31339 · #8 18th November 2006, 11:57 AM

Bangerbs, the definition of a good hassle free broker according to me is one provides u a terminal for live rates and order execution, a call centre for dial and trade so that u dont have to depend solely on relationship manager/ branch. He is the one who has a dedicated customer care who in turn is ready to listen compalins and dispose them as fast as possible. A good broker is one who provides u the contact details of higher officers so that problems unsloved at lower levels can be addressed to them.

Based on above definition , the shortlisted brokerage houses are ,
SSKI, investmentz.com, investsmartinida.com and kotak.

There are brokerage houses /firms who will offer u a good deal with respect to brokerage , I have many providing 0.02% FNO-intraday & 0.20delivery but then they are not that hassle free , they are not professional.

coming back to the point, I am personally looking a broker who is professional, provides dial and trade call centre facility , terminal etc etc . So alongwith SSKI , I am trying with other brokerage firms also mentioned above.
IF I fail in stucking a deal with sski , i have options open for other mentioned brokerage firms above.
So my point is that alongwith sski we should negotiate with other mentioned above also and go with one who provides a good deal.what do u all think? afterall we needa good broker

bangerabs · #9 18th November 2006, 06:19 PM

Sir,

Of the above, I had already contacted investmentz.com, who did not agree to come down to the level of IB as regards to brokerage. With regard to investsmartindia.com, I had very serious problem with them, for settling which I had to approach NSE. Therefore, my conclusion is: if SSKI reduces brokerage then I shall go along with them. Else, IB Zindabad.

With regards,

(BS BANGERA)

trader31339 · #10 18th November 2006, 06:36 PM

whats ur yahoo ID boss

btw, what problem u had with investsmart such that u had to approach NSE ???
One more thing, are u directly negotiating with the HO or franchisee? as far as low brokerage are concerned, franchisee -subbrokers-business assosciate-marketing guys are in better position to give lower brokerage.

EX. angel HO dont come down to 0.03 paisa unless and until u comit something, they even charge a/c opening fee - ,min balance but there are franchisee -subbroker who easily give 0.03 + no acc opening charges no balance , all u have to do is submit forms activate ac its free no charges at alll.
So , the point is we have to negitiate with sub brokers-franchisee or marketing guys rather than HO.
BTW how much low brokerage u are looking for? how much u are paying at IB?

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