ShareKhan Rs.6000 Advance Brokerage scheme - Feedback please

Hi,

Today I went to Sharekhan office to open an account and they offered me a package. I have to pay Rs.6000 as advance brokerage (valid for 1 year) and they would offer me .25% for delivery and .025% for Intraday until I cover this Rs.6000 as brokerage.

My brokerage at the end of the year would be greater than Rs.6000 and when I asked them what would happen if I trade beyond Rs.6000 as brokerage? they told it would be free!!!...

Has anyone used this package? People in my local branch here doesn't know much about this package.

Want to know the feedback from people here.

Thanks in advance,
Vairam

My broker angel is now opening account almost FOC and also giving 0.25% as delivery and 0.05 intraday rate.
I don't know if this rule is applicable nation wide but atleast in Mumbai via my sales person.

No initial margin only initial cost of 200 which would be refundable.

Thanks..!

hmm
detailed calculation needed
btw both the commissions r higher end

Thansk for the information Jace. I will look at it.

Hi Deb,

When you say its on higher end..do you mean that I can negociate with Sharekhan or do you mean that there are other brokerage firms with lower comissions....if so which one?

Thanks,
Vairam.

If your brokerage by the end of one year say about 8000 rs then, you would be just paying 2000 rs(as you have already paid 6000 rs). But this 6000 rs which you already paid will be refunded back to your dmat account. If you are trading in high volumes then its better to get this package.

Also if at the end of say 6 months if you exhaust your brokerage fee you have a option to get additional package for 6000 rs. Basically if you are going to use the full package amount then you have the service free.

This is my understanding..

Vairam,
Think your brokerage is on higher side there is a much better scheme offered by Motilal Rs 5000/- advance brokerage and brokerage of 0.15% for both Intraday and Delivery.

Rgds/-

0.15% is less than 0.025%?

hehe....brother,it will not be free,anything can happen under the Sun,but it will not be free.
What will happen,after returning the previously collected 6k to ur account by monthly basis,they will continue to charge the 2.5 paisa brokerage for intraday and 25 paisa for delivery for the rest of the year....but no return of money this time.
Well,I am a user of their 6k prepaid scheme for the second year running(not trading there right now)....u will get disconnected from speedtrade,will not get answers many time by email,online chat will not let u an entery to chat.....but still,it's not bad with 2.5 paisa brokerage,if u r not an fno trader.

I have recently subscribed to their 6K package. I am not a fno player. I found it OK for intraday trading.