Need feedback on Sharekhan, 5paisa, Reliance Money, Kotak, Angel

highflier82 · #1 23rd May 2009, 12:56 AM

Hello all,

I've been following the markets for some time, and am now keen on getting my hands dirty in them. With respect to the process of selecting a broker, I've done some research and reasoning myself and narrowed my choices down to the 5 mentioned above. To decide between these, however, I'm counting hugely on your feedback.

If you are/have been with one of the above, please let me know whether you are/have been overall satisfied with your broker or not by selecting the appropriate option in the poll. Please also tell me of your experience with regard to the broker's:
1) Platform reliability (i.e. downtime etc)
2) Order execution speed
3) Customer service (phone)
4) Anything else you believe it's important for me to consider
Finally, do let me know whether you're a day trader, swing trader, or investor.

Thank you very much, in advance, for your input!

Regards,
Varun

Sunny1 · #2 23rd May 2009, 01:30 AM

If you have done research than how you have reliance money in the list really cant believe. As per my research RM have worst rating by users. Believe me, I have read lots of review of Rm, most of them are not satisfied oops most of them are frustrated. I chose not to have any experience with them by reading words about RM.

For Kotak, they just want your money, actually they want your permission to play with your money. Two times I had contact kotak, both the time two guys came in a neat suit talking about thier money management blah blah. they dont know what is brokerage. they said that give us email, we will mail the brokerage structure both the time same thing. No mail was received.

Angel, I think they are. So far read very few complaints about angel. read that their odin is swift and customer care is very good. I will opt for angel surely. you have to bargain brokerage but it cannot be changed later. note: you cannot transfer money back into saving account online you have give a call for that to them. overall I think angel is good

canmoney, recently I have opened account them. I think this is also good.did not face any problem till now may be becuase they have less customer as they are new.they dont provied odin software. but if you select high brokerage plan they give trade anywhere software.

sharekhan and 5paisa had mixed review. check in your locality if they are good enough

Above information is as per my view. was difficult to choose a broker as every broker had different problems. I have also done too much research and still doing. I think you can go for angel in terms of order execution and customer service.

Average reasonable brokerage is .03%(non delivery and .3% delivery

I am day Trader.
Hope this info will help you

highflier82 · #3 23rd May 2009, 01:23 PM

Quote:

Originally Posted by Sunny1

If you have done research than how you have reliance money in the list really cant believe. As per my research RM have worst rating by users. Believe me, I have read lots of review of Rm, most of them are not satisfied oops most of them are frustrated. I chose not to have any experience with them by reading words about RM.

For Kotak, they just want your money, actually they want your permission to play with your money. Two times I had contact kotak, both the time two guys came in a neat suit talking about thier money management blah blah. they dont know what is brokerage. they said that give us email, we will mail the brokerage structure both the time same thing. No mail was received.

Angel, I think they are. So far read very few complaints about angel. read that their odin is swift and customer care is very good. I will opt for angel surely. you have to bargain brokerage but it cannot be changed later. note: you cannot transfer money back into saving account online you have give a call for that to them. overall I think angel is good

canmoney, recently I have opened account them. I think this is also good.did not face any problem till now may be becuase they have less customer as they are new.they dont provied odin software. but if you select high brokerage plan they give trade anywhere software.

sharekhan and 5paisa had mixed review. check in your locality if they are good enough

Above information is as per my view. was difficult to choose a broker as every broker had different problems. I have also done too much research and still doing. I think you can go for angel in terms of order execution and customer service.

Average reasonable brokerage is .03%(non delivery and .3% delivery

I am day Trader.
Hope this info will help you

Thanks, Sunny, for your elaborate input. With regard to Angel, they were relatively prompt and clear when responding to my initial queries, so I'd be inclined to believe that their customer service is good. However, if, indeed they don't provide for one to electronically transfer money back to one's savings account, I'd be apprehensive to go with them.

Varun

notam · #4 23rd May 2009, 05:48 PM

Can anybody tell me the criteria of charging Stamp Duty. I Live in Noida but do the Trading in Delhi. Which state Stamp Duty i have to pay

rahulskr · #5 2nd June 2009, 12:38 AM

hi varun

i hav an ac in angel n found that they r good overall.......u can transfer money from tradin ac to bank ac thru their angel back office site...... hope this helps......

cheers

highflier82 · #6 2nd June 2009, 08:09 AM

Quote:

Originally Posted by rahulskr

hi varun

i hav an ac in angel n found that they r good overall.......u can transfer money from tradin ac to bank ac thru their angel back office site...... hope this helps......

cheers

Thanks, Rahul, for your input. Could you tell me how Angel fares specifically with respect to the following?

1) Platform reliability (i.e. downtime etc)
2) Order execution speed
3) Customer service (phone)

Thanks!

rahulskr · #7 2nd June 2009, 08:58 PM

Quote:

Originally Posted by highflier82

Thanks, Rahul, for your input. Could you tell me how Angel fares specifically with respect to the following?

1) Platform reliability (i.e. downtime etc)
2) Order execution speed
3) Customer service (phone)

Thanks!

hi varun

i hav only used angel diet, so cant comment on other platforms..... diet odin really rocks..... no downtime (rarely)..... n execution speeds also great......... angels customer service is also very good.........

cheers

highflier82 · #8 3rd June 2009, 09:55 AM

Quote:

Originally Posted by rahulskr

hi varun

i hav only used angel diet, so cant comment on other platforms..... diet odin really rocks..... no downtime (rarely)..... n execution speeds also great......... angels customer service is also very good.........

cheers

Thanks for your response, Rahul. I'm actually not expecting to transact more than a few times a month, if that, and therefore was looking at Angel Investor. Anyone used this product? If so, could you tell me whether the great reliability and execution speeds that Rahul enjoys with Angel Diet are things that one can also expect from Angel Investor?

Thanks!

rahulskr · #9 3rd June 2009, 11:19 AM

hi varun

why r u goin for investor...... it is web based, so it will be slower..... u can use diet neways as u dont hav to pay nethin xtra for it..... same with anywhere.......if u need charts also, go for anywhere..... hope u got the point.......

cheers

lazytrader · #10 4th June 2009, 03:53 PM

Quote:

Originally Posted by rahulskr

hi varun

i hav only used angel diet, so cant comment on other platforms..... diet odin really rocks..... no downtime (rarely)..... n execution speeds also great......... angels customer service is also very good.........

cheers

Hi Rahul, I am interested in opening account with Angel. I wanted to know if they have any AMC or software charges, recurring charges?

Do they have instant fund transfer from any bank or does it take 24hrs?

Can you post a screenshot of the software and charting?

Thank You.

View Poll Results: Have you been satisfied in your experience with these brokers?
Sharekhan - Satisfied	19	38.00%
Sharekhan - Not Satisfied	5	10.00%
5 Paisa - Satisfied	6	12.00%
5 Paisa - Not Satisfied	7	14.00%
Reliance Money - Satisfied	3	6.00%
Reliance Money - Not Satisfied	8	16.00%
Kotak Securities - Satisfied	1	2.00%
Kotak Securities - Not Satisfied	3	6.00%
Angel Broking - Satisfied	5	10.00%
Angel Broking - Not Satisfied	3	6.00%
Multiple Choice Poll. Voters: 50. You may not vote on this poll

The Following User Says Thank You to Sunny1 For This Useful Post:
highflier82 (2nd June 2009)

The Following 2 Users Say Thank You to rahulskr For This Useful Post:
alroyraj (17th August 2010), highflier82 (2nd June 2009)