icici direct charges

i am new here and sorry if this is already discussed. i have gone thru few of the threads and could not find any information.

i am basically a long term investor who has moved from MF into Shares buying around 2 years back. i have icicidrect account for last 3 years . i have noticed that for each share you buy less than 2500 the commission is around 3 % plus stt + stamp duty charges. i have buy more than 2500 per share the value reduces to .96 ( that was lowest for around 40K brought per share)

i have two questions is
1. whether anyone has done an analysis on this and around which amt one should buy to get the best bargain.
2. what are clear value deals. is this useful.
i buy around 25K per month.
i do not plan to shift to other online trading at this point.
regards

thanks for listening

I'm on ICICI Direct and can buy as few as 10 shares at a time, if I'm not certain about entering a position.

I've worked it out that I pay, including brokerage, STT & stamp duty, about 0.87%. I round it up to 1% for quick calculations. It's a lot.

After seeing what some great deals some on this forum get, I'm definitely looking to change in terms of trading. I may keep the broker website though as it is pretty good for information and education.

Hope this helps.

thank you class

it is not .87 for all shares. i have noticed that it is for less than Rs 2500, the charges are around 3.11 % and for above 2500, it reduces to .96.

if you put commission as 1% than i believe it will show wrong data while tracking.

secondly is anyone using Clear value deals of ICICIdirect

thanks

It could be that there is some minimum commission clause i.e. .87% or 75 Rs (minimum charges per transaction) or something like this - maybe.

Hope this helps

Yes, it is Rs.25/- or %age, which ever is greater.

Thanks.

thanks murtaza & class.
any idea on clear value deals.
i have read about them in icicidirect. it says 299 per qtr plus stt and stamp duty. i think this will be useful as i am around 25 k per month. will check this up this time and revert back. they also say that the commission plus stt plus stamp duty will be deducted as usual and the same will be refunded on 10th next month.

also is it cheaper to buy stock on BSE rather than NSE.?

my background. i am long term investor who is heavy in MF and slowly moving into large cap stocks
regards

which broker is SAFEST?

Murtaza / All,

I am planning to open a new Demat account with a new Broker and discard my current ICICIdirect. Please suggest some good broker. my only requirement is that broker should be SAFE. I have burnt my fingers with ICICIDirect where some unidentified transactions(day trading) were made from my account which accounted me a loss of 3 -5 lakh rupees. So My only requirement with new broker is SAFETY of my account/trades. Brokerage is no issue.

Re: which broker is SAFEST?

Tarun,
Is it really happened with ICICIDirect that someone other than you has done transaction in your trading A/C? I think it is password protected and that need to changed after two weeks. I think it is severe issue. You shud contact ICICI Bank that from which IP the login was done. ICICIDirect is charging PREMIUM (high) brokerage saying her trading plateform is highly secured and have less human interference ( I mean most tasks are automated).
Sagar

Re: which broker is SAFEST?

Sagar,

Yes It really happened. It happened in 2007. My home network was very secure and I used to change the password every week. Also these transactions happened 2 times with a gap of 7 days. After 1st incedence I lodged a complaint with ICICI and they said your password is stolen which could never have happened as i use high encryption on top of ssl provided by ICICI. nobody can access my laptop as i am alone in my house.

i lodged complaint to everybody icici, nse , newspapers but to no help.