since last few days i was searching for a good dmaccount at last i decided to go to angel traders and coz i don have ICICI or Hdfc bank a/c ( angel traders accept only icici or hdfc but i have SBI a/c) so when i have been to ICICI bank they have shown me this comparison and now i again confused coz i was thinking ICICI direct brokerage is high, pls help me to decide
comparison
http://content.icicidirect.com/Brokerage.asp
What are the charges for your product?
ICICIdirect.com account can be opened for a one-time non-refundable fee of Rs 975/-.
The brokerage rates are very reasonable. The rates vary according to the volume of trades done by you.
The brokerage rates on ICICIdirect.com are inclusive of demat transaction charges.
It ranges from 0.03% to 0.1% for margin trades, 0.2% to 0.425% for squared off trades and 0.25% to 0.75% on delivery based trades.
To give an idea, an investor having a daily average trading volume of Rs 65000/- will be paying an effective brokerage of 0.50% only , and that too inclusive of all charges.
Demat account charges: For all trades done through ICICIdirect.com, there are NO separate charges. However, for all other trades and services like demat, pledge etc, the charges shall be as per the existing rate card of ICICI demat. An annual maintenance fee of Rs.500/- (Rs.450/- for customers receiving statement by e-mail) per account is charged. However, the first year annual maintenance charges are waived for on all accounts opened through ICICIdirect.com.
For bank account, a minimum quarterly average balance of Rs 5000/- needs to be maintained.
Why should you open an account with ICICIdirect.com? You may be wondering about why we charge you 0.75%, while your broker may claim only say 0.5%.
Firstly, the brokerage rates of ICICIdirect.com are inclusive of demat transaction charges.
Secondly, brokerage rates on ICICIdirect.com is dependant on the volume of transactions done and also the type of trade put in by you. As mentioned earlier, investors with reasonable trading volumes anyways get less than 0.5% brokerages (all inclusive).
Even if we assume very low volumes of trading and that too only on Delivery based trading, our brokerage rates are still economical. Let us take an example
ICICIdirect Other broker
Normal brokerage
0.85% max Lets say 0.50%
A Transaction value
10000 10000
B Brokerage (Rs.)
85.00 50.00
C Service Tax (5% of B)
NIL 2.50
D Other charges (0.03% of A)
NIL 3.00
E Demat charges
NIL 25.00
F Total charges (Rs.) B+C+D+E
85.00 80.50
How much do you pay for an average demat transaction? ICICI demat has a Market Buy rate of 0.03% or Rs 25/-, whichever is higher, for EVERY trade. If you calculate, an investor has to buy at least upto Rs 83333/- worth of shares to pay 0.03% in EVERY Trade. Obviously not many people pay 0.03%. They pay Rs 25/- instead.
Suppose an average person trades in Rs10000/- in every trade, he shall pay Rs 25/- for demat charges.This comes to 0. 25% of his trade amount.
So he pays at least 0.75% and not 0.50%. Add other charges to this and it will go up to atleast 0.80%. On top of it, one may incur the local conveyance directly or indirectly in collecting/sending cheques/TIFDs with the broker concerned. More importantly, one has to find time and person to chase the broker.
Add to this, ICICIdirect credits the funds to your bank account on the pay-out day itself (one can even withdraw it on the same day).
To summarize, ICICIdirect.com ensures a hassle free, fast, transparent, easy and trustworthy service at reasonable rates.More it also gives you latest market updates, live quotes and market charts to help you GET CONTROL of your own trade .
comparison
http://content.icicidirect.com/Brokerage.asp
What are the charges for your product?
ICICIdirect.com account can be opened for a one-time non-refundable fee of Rs 975/-.
The brokerage rates are very reasonable. The rates vary according to the volume of trades done by you.
The brokerage rates on ICICIdirect.com are inclusive of demat transaction charges.
It ranges from 0.03% to 0.1% for margin trades, 0.2% to 0.425% for squared off trades and 0.25% to 0.75% on delivery based trades.
To give an idea, an investor having a daily average trading volume of Rs 65000/- will be paying an effective brokerage of 0.50% only , and that too inclusive of all charges.
Demat account charges: For all trades done through ICICIdirect.com, there are NO separate charges. However, for all other trades and services like demat, pledge etc, the charges shall be as per the existing rate card of ICICI demat. An annual maintenance fee of Rs.500/- (Rs.450/- for customers receiving statement by e-mail) per account is charged. However, the first year annual maintenance charges are waived for on all accounts opened through ICICIdirect.com.
For bank account, a minimum quarterly average balance of Rs 5000/- needs to be maintained.
Why should you open an account with ICICIdirect.com? You may be wondering about why we charge you 0.75%, while your broker may claim only say 0.5%.
Firstly, the brokerage rates of ICICIdirect.com are inclusive of demat transaction charges.
Secondly, brokerage rates on ICICIdirect.com is dependant on the volume of transactions done and also the type of trade put in by you. As mentioned earlier, investors with reasonable trading volumes anyways get less than 0.5% brokerages (all inclusive).
Even if we assume very low volumes of trading and that too only on Delivery based trading, our brokerage rates are still economical. Let us take an example
ICICIdirect Other broker
Normal brokerage
0.85% max Lets say 0.50%
A Transaction value
10000 10000
B Brokerage (Rs.)
85.00 50.00
C Service Tax (5% of B)
NIL 2.50
D Other charges (0.03% of A)
NIL 3.00
E Demat charges
NIL 25.00
F Total charges (Rs.) B+C+D+E
85.00 80.50
How much do you pay for an average demat transaction? ICICI demat has a Market Buy rate of 0.03% or Rs 25/-, whichever is higher, for EVERY trade. If you calculate, an investor has to buy at least upto Rs 83333/- worth of shares to pay 0.03% in EVERY Trade. Obviously not many people pay 0.03%. They pay Rs 25/- instead.
Suppose an average person trades in Rs10000/- in every trade, he shall pay Rs 25/- for demat charges.This comes to 0. 25% of his trade amount.
So he pays at least 0.75% and not 0.50%. Add other charges to this and it will go up to atleast 0.80%. On top of it, one may incur the local conveyance directly or indirectly in collecting/sending cheques/TIFDs with the broker concerned. More importantly, one has to find time and person to chase the broker.
Add to this, ICICIdirect credits the funds to your bank account on the pay-out day itself (one can even withdraw it on the same day).
To summarize, ICICIdirect.com ensures a hassle free, fast, transparent, easy and trustworthy service at reasonable rates.More it also gives you latest market updates, live quotes and market charts to help you GET CONTROL of your own trade .