wow,IB finally in India.

hello all,
i just realised that IB has actually started their operations in India...However i could not understand their brokerage charges...
It says 3.5 bps per futures contract(futures),could some one knowledgable explain please while i try to get hold of their customer service...
finally something exciting.

tried their software,seems ok....but the brokerage is a major drawback....(.035%)


India (plus Securities Transaction Tax, Exchange Charges, Service Tax, and Stamp Duty)
Futures 0.035% INR 100 2 (NFTY) 2,750.50 x 50* = INR 275,000 x 0.07% = INR 192.50

L2T please pass their site address.

here buddy...
but brokerage is too high,i guess i need to wait...

all the best.
IB

In addition, they have required minimums which many of us dont like


http://www.interactivebrokers.co.in/en/accounts/fees/minimumDeposits.php?ib_entity=in

I tried to register to them but they need the min $5000 to be cheque/wire transfer to them. Also need some minimum liquid money, min net wealth so be with us to trade which are in the tune of 25L and above...

Haribird.

i sat down and went through their site and software all afternoon and i personally rate them 1 step ahead of motilal oswal and reliance money,no better than that..

i would never go for them unless they give me something like forex margins...


all the best

Filled-up the application...they will only process it after the wire transfer or cheque(The only option for Indians) is received by them. And not planned to wire them...too early, as you said.

haribird.

so can we trade the world market & currencies with them ?

Yes we can...but account fund is a problem for small traders.
Today I got their email with some agreement form and instructed me to print, fill, sign, scan to jpj/jpeg/bmp/gif and eamil them back to activate my account.

Haribird.