Opening a Demat A/C and Trading A/C with IndiaBulls

Hi All

I am planning to open a Demat Account and Trading Account with Indiabulls.
I had a chat with their RM and he told me that for opening a Demat A/C the charge is Rs.990 for lifetime and for Trading Account there is no charge except Rs.750 for their trading terminal(Power India Bulls).

Their brokerage rates are 0.5% for Delivery and 0.1% for Intraday.
Also, i asked about trading in BSE listed securities and he said that trading in 'Z' Category shares is not allowed by them, rest of the categories they allow.

Is this plan okay? Please tell me.

Also, please tell me if i should ask any other questions regarding opening a trading account?

Thanks in advance

Charges are ok because i was quoted the same pricing when I last week went to IB office for opening account. Brokerage rates are pretty high but cant do anything about it as I am starting my trading with small capital. Do ask them if it 0.1% for each leg or Buy and Sell combined.

hi i want to change from reliancemoney to some other broker what is z category stocks?can u elaborate it?

Dont open an account with Indiabulls - This is from my personal experience. The customer care from individual RMs is not good and some of them do not care once you have opened an account.

Also, the brokerage is too high for delivery as well as intra day. Try Religare or Angel Broking (my current brokerage house). They might reduce your brokerage charges to 0.3% and 0.03%, which are significantly lower than that of Indiabulls.

Final advice - Go to any broker but stay away from Indiabulls and also ofcourse Reliance.

If you are daytrader then indiabulls have a major drawback that their intraday closes at 3 pm. i.e one has to squareoff their position by 3pm for intraday trades. after 3 you are not allowed to do intraday trading in indiabulls. if you fail to cut the position then by 3.05-3.10 the position gets squared off automatically at the price going that time.

a daytrader needs trading time till mkt closes. as between 3-3.30 mkt gives good moment and one can squareoff their position at their target price.
many times it happens at near 3 oclock ur position is in loss, and by compulsion you havve to cut it, but after 3 you see that the trade goes in your favor. if you would have been in trade then you would have ended the trade in profit. but their 3 pm cut off time cuts the trader most of the times.

so think over this before taking action.:thumb:

Thanks jods and rohangawale for your answers.
Please, can you tell me where IndiaBulls scores over Angel Broking and vice-versa apart from the trading time.

When i contacted Angel Broking through email, they also told me the same rates:

FOR INTRADAY 0.10%
FOR DELIVERY 0.50%
FOR F/O (DERIVAITIVES) 0.10%

I am seriously thinking between IndiaBulls and Angel Broking.

@yogi1969 - http://www.traderji.com/fundamental-analysis/5281-grouping-shares-bse.html

Dont know abt Angle broking so cant comment on that.

ok, please list the all the disadvantages of IndiaBulls(except the brokerage, as i am a new investor, so i don't think brokerage will be negotiable anywhere) and tell me which broker scores over IndiaBulls?

Also, i read somewhere that IndiaBulls doesn't allow trading in BSE. But, when i asked them they said that they allow, but not in "Z" category. Is it true?

Can we request for a change of RM if we don't like the RM's behaviour?

You will certainly get low brokerage in Rkglobal but recently hearing from members in the forum , that ODIN is having disconnection problems.