Looking for broker with low brokerage for F&O

#1
I am currently using RK Global for trading in futures and options. R K Global offers lowest brokerage in the market but they are having issues with the quality of the service that they seem unable to resolve. Like their streaming quotes freeze after every 2 minutes and you have to continuously disconnect and reconnect to the broadcast server. Charts on their version of Diet Odin also don't work. Even the funds view no longer update in the real time during the trading hours. You have to wait till late in the evening to know exactly how much cash you have in your account and where you stand as far as cash is concerned.

So, I am planning to open a new online trading account next week, primarily to trade in futures and options. I want low brokerage but I want to open the account with a reputed brokerage firm because I want to be certain that broker will not disappear with my hard-earned money and this is important to ensure the peace of mind for myself.

After going through previous threads in this forum, I have short listed Religare and Angel Broking for opening the account and hence want feed back on the following points for these brokers from the customers who have used the services of both these brokers or either of them:

1. Who is offering better customer support?

2. I guess both are using Diet ODIN but who has more stable system in terms of fast refresh of quotes on the screen?

3. Have you seen downtimes during trading hours?

4. Have you used charting in Diet Odin? Will it work?

5. who has lower brokerage for futures and options? or what is the brokerage you are paying for F&O?

Currently, I buy and sell (combined) around 40-50 lots of Nifty future and options every trading day. I currently day trade only in Nifty futures and options and nothing else. So that gives a rough idea about the volumes that my account has.

I have an account with Sharekhan also but their brokerage is on the higher side, particularly for options because I am paying 0.05% for futures and 1.00% or Rs. 70 per lot of options (whichever is higher). I have also used ICICIdirect for past several years and they charge highest brokerage along with crappiest service quality. I have looked at Bajaj (justtrade) and Ventura also but both of them have bad reputation in these forums. Geojit BNP Paribas is a strong and experienced player but their brokerage is on the higher side. I will not trust Indiabulls with my money.

Is there any other better broker out there that I can consider? I believe having a stable and reliable broker is critical for success in day trading F&O where every second counts. There are far too many things that can go wrong during a trading day. Ideally service of brokerage firm should not be on the list of things to worry about for any trader.

Any help or feedback in this thread will be highly appreciated.
 
#2
Any help or feedback in this thread will be highly appreciated.
Try Indiabulls........

Its best at present scenario.

(I have experience with most of the Indian broker houses & their webbased/odin/or so called java based insta/tradetiger etc platforms)

Indiabulls' Power india Bulls is the best trading platform for intraday players.

brokerage can be minimum 1 paise for a person trading around 1 crore volumes per day.
 
#3
Try Indiabulls........

Its best at present scenario.

(I have experience with most of the Indian broker houses & their webbased/odin/or so called java based insta/tradetiger etc platforms)

Indiabulls' Power india Bulls is the best trading platform for intraday players.

brokerage can be minimum 1 paise for a person trading around 1 crore volumes per day.
Thanks for the reply.

What is the minimum per lot brokerage that you are paying in Power India Bulls besides the 1 paise for Nifty options and futures?

For example minimum per lot with sharekhan is 1.00% or Rs. 70 per lot, whichever is higher. So I end up paying Rs 70 for most option contracts where small premium is involved.

Have you ever had any incidence of misuse of funds in your account by staff of indiabulls by trading in your account?

Someone has posted in the other thread about Indiabulls that they take upto 1 week to complete withdrawal request in case one want to pull some money out of the trading account. What is your experience like in case of withdrawals? How much time do they usually take?
 
Last edited:

raj001

Active Member
#4
Thanks for the reply.

What is the minimum per lot brokerage that you are paying in Power India Bulls besides the 1 paise for Nifty options and futures?

For example minimum per lot with sharekhan is 1.00% or Rs. 70 per lot, whichever is higher. So I end up paying Rs 70 for most option contracts where small premium is involved.

Have you ever had any incidence of misuse of funds in your account by staff of indiabulls by trading in your account?

Someone has posted in the other thread about Indiabulls that they take upto 1 week to complete withdrawal request in case one want to pull some money out of the trading account. What is your experience like in case of withdrawals? How much time do they usually take?

I am also planning to change d broker.. yesterday i got a call frm icici direct , they said that intraday charge is 3 paisa and for F&O pnly rs 15 per trade... is this correct??
 
#5
Hi, I have experience of many online trading systems, Initially when Internet came here and I have taken account with INDIABULLS, SOFTWARE is Excellent, No doubt, Now also I am watching prices on this software since One time I have paid for the software, but I am not trading because brokerage high.

I have Geojit Platinum Software which is also good, but max. 30scripts only can be loaded. Brokerage is 75Rs per lot. very fast as Indiabulls. In this market where too much volatile I am looking for cheap brokerage. Then I just started trading in my old acount with Reliance Money.. POOR software, brokerage is low on the screen (hidden charge is turnover with limit card!!)

Then some one told me on msg. about RKGLOBAL, and recently taken account and brokerage superb!! every up and down I can make money here.. But software ODIN as posted here I have to see and post it later. Back Office software also looks EXcellent.

Sharekhan : also using this in my wifes acount, good software, brokerage little high, Chart is Excellent.

Commodity : I am using Religare - good one fast, no problem so far.. thanks GOD. now started RK GLOBAL, will c how it works, Pray GOD for best profit on this.

I have observed simultaneously on three computers 1.:thumb: INDIABULLS, 2.GEOJIT/ODIN/SHAREKHAN updating rateswise.

successtrader.:thumb:
 

alroyraj

Well-Known Member
#6
Hi, I have experience of many online trading systems, Initially when Internet came here and I have taken account with INDIABULLS, SOFTWARE is Excellent, No doubt, Now also I am watching prices on this software since One time I have paid for the software, but I am not trading because brokerage high.

I have Geojit Platinum Software which is also good, but max. 30scripts only can be loaded. Brokerage is 75Rs per lot. very fast as Indiabulls. In this market where too much volatile I am looking for cheap brokerage. Then I just started trading in my old acount with Reliance Money.. POOR software, brokerage is low on the screen (hidden charge is turnover with limit card!!)

Then some one told me on msg. about RKGLOBAL, and recently taken account and brokerage superb!! every up and down I can make money here.. But software ODIN as posted here I have to see and post it later. Back Office software also looks EXcellent.

Sharekhan : also using this in my wifes acount, good software, brokerage little high, Chart is Excellent.

Commodity : I am using Religare - good one fast, no problem so far.. thanks GOD. now started RK GLOBAL, will c how it works, Pray GOD for best profit on this.

I have observed simultaneously on three computers 1.:thumb: INDIABULLS, 2.GEOJIT/ODIN/SHAREKHAN updating rateswise.

successtrader.:thumb:
Thats good. can you post the F n O rates from Sharekhan and the commodity rates from Religare. Now-a-days ideally it seems better to have separate intraday, F & O and Commodity accounts.
 

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