My experience with geojit BNP paribas

superman

Well-Known Member
#1
Hi

I badly wanted to enter the sharemarket but was pretty much disappointed that majority of brokerage firms didn't had their office here in my city.

But luckily from this forum i heard the name geojit and found that they do exist in my city :)

I just went directly into the office and met office staffs of geojit and told them that i want DP+Trading account and all must be online activated :) and they did assisted me in everything

Here are the documents they require
1.PAN card xerox
2.Bank pass book xerox(first page) and attested
3.2 canceled cheque leaf
And i think one address and identity proof

And the procedures are lengthy. At least you have to sign 30-40 times :p

After around 1 week i got a phone call that my DP is created.

And after 2 week i think i got full email regarding my DP,trading account details from geojit.

They also do periodic phone call verification. And they will ask your address,PAN card no. etc. Whenever i receive email from them on that day itself i will get a phone call

But still my online account was not activated. The broker phoned me and asked me to come to the office to avail the online account. There too i filled one form and after one week i received online account details in my account.And as usual i got a phone call for verification on that day itself.

So roughly it will take 3 weeks for full online account to get enabled. All correspondence will be done via email itself.

To be continued ...
 

superman

Well-Known Member
#2
If you are a serious trader who is trading in intraday or swing,then you SHOULD go for platinum version ..other wise by default gold version which has web based terminal will be enabled

Gold based version that i am currently using is only suitable for position trading as even in 2 MBPS line,it is hell slow and sometime hangs.

And BTW click enable HTML streaming if you dont want to use it in slow daunting speed.

In HTML mode prices are not real time(after sometime it refreshes itself) but at-least it is very very fast and you can do the position trading.

Customer care service is pretty good. They provide the usual TIN and PIN for accessing it.
# Platinum - The Platinum version acts as a virtual dealers terminal providing live updates and confirmation. The executable program is downloaded on the customer's computer. This is generally used by those who trade heavily intra-day and take very little delivery. Therefore the need for real-time prices and the quick order entry like that of a dealer terminal comes handy to these customers. Platinum platform is FREE, if more than Rs.10000/- brokerage is generated in a year. Besides, one can also avail this platform under the Refundable option by giving Rs.4000/- upfront and getting it back if more than Rs.10000/- brokerage is generated during the year. Reversal of fees, if any, under the 'Refundable Option' will be given in the ledger at the end of the financial year

# Gold - Gold version is a web-based solution. During market hours the stock prices are refreshed seamlessly and the speed is mostly dependant on the bandwidth connectivity used by the customer. In this, the trader will receive live quotes as the rates are refreshed every second. Those who are generally on the move and may not be able to use their own computer for trading generally use this platform. Since it is a web-based system, one can login from any where in the world and take advantage of the price movements.
To be continued ...
 

vasa1

Active Member
#3
Hi Superman,

Nice stuff but Geojit has now made a new platform, FLIP, available.

This is available to current users of the platinum platform.

It requires a speed of 256 kbps minimum, 512 kbps recommended.

I could also access it with a 1xCDMA connection (Reliance NetConnect, which refuses to widen its high speed service to where I live :mad:).

It requires Windows XP SP2 and will install .NET version 2 on your PC.

After installing it, you must e-mail Geojit to allow you to place orders. They take ~ 1 day for this.

I think users of the previous platinum platform can easily move to this one. I asked about extra charges but have not been informed if there are any!

I got it activated late on Friday so haven't done much as yet but it does seem quicker than the older BTT-based platinum platform. There are much more features as well but these may be useful for heavy-duty traders.

If there are more users on Traderji for this we might get a nice discussion going until it gets boring :D.
 

superman

Well-Known Member
#4
^^Oh that's nice to hear .. good for platinum customers
I still believe they could have given windows terminal for gold based customers too .. Why they require 10,000 rs brokerage generation or 4000rs upfront payment .. ?
 

superman

Well-Known Member
#5
Geojit review continued:

Mode of payment: After getting all details,time to fund my trading account
If your bank is anyone of these then you can pay them online directly and it will be funded at that instant itself i think...
CITI BANK
HDFC BANK
ICICI BANK
FEDERAL BANK
IDBI
BANK OF INDIA
PUNJAB NATIONAL BANK
UNION BANK OF INDIA
But my bank is SBI. But good news is one can fund the trading account by NEFT :)
So that means practically all banks can be used to fund via NEFT.
At first you have register it in the customer panel.. Registration will take 3-4 days and after that they will give you a unique account no and other details so that you can send NEFT transfer to that account.

At first i funded the trading account using cheque and it took 3 business days to get reflected in my balance

After i got registered for NEFT mode,i sent a small payment afternoon and by next day it got reflected in my balance. Since NEFT payments are not instant,this explains the delay sometimes

Now coming to payout request.
Payout will get directly credited to the banks below
BANKS FOR DIRECT CREDIT
CITI BANK
HDFC BANK
ICICI BANK
STATE BANK OF INDIA
FEDERAL BANK
Since my bank was listed,i was happy.
Dont forget to update the bank code in case of SBI,otherwise they request will be processed in cheque.
I did a small test amount request on yesterday and by today morning it reached my bank account :)

To be continued ..
 
#6
Hi Superman,

Nice stuff but Geojit has now made a new platform, FLIP, available.

This is available to current users of the platinum platform.

It requires a speed of 256 kbps minimum, 512 kbps recommended.

I could also access it with a 1xCDMA connection (Reliance NetConnect, which refuses to widen its high speed service to where I live :mad:).

It requires Windows XP SP2 and will install .NET version 2 on your PC.

After installing it, you must e-mail Geojit to allow you to place orders. They take ~ 1 day for this.

I think users of the previous platinum platform can easily move to this one. I asked about extra charges but have not been informed if there are any!

I got it activated late on Friday so haven't done much as yet but it does seem quicker than the older BTT-based platinum platform. There are much more features as well but these may be useful for heavy-duty traders.

If there are more users on Traderji for this we might get a nice discussion going until it gets boring :D.
Dear Vasa,
I'm using geojit's Market book TT for last 10 months.As you pointed they have launched Flip recently.I have a problem with installing the same.Downloaded the FLIP ,but .NET v2 is not there in my computer .How to install .NET in my computer?
Pls help me...


Thank you
muneer
 

vasa1

Active Member
#8
Hi Muneer, if you installed FLIP with your net connection on, the .NET would have been installed automatically.

I didn't have .NET previously but now I do thanks to the FLIP installation.

Incidentally, you may have to upgrade if your FLIP version is showing 5.x.x.8. Go to check for updates under "Help".
 

pasha

Active Member
#9
Flip and whatnot is all very nice, but what is the brokerage????
Geojit has an ancient system of brokerage, 0.3 each way and 75rs in options which they refuse to change even though others are charging much less.
Until they start to compete, it's not worth it.
Better to go for anyone else, where brokerage is less.
 

vasa1

Active Member
#10
I guess this thread is for those who choose Geojit for whatever reason and wish to discuss aspects of the brokerage house and its trading platforms.

There are other threads on Traderji.com which compare brokerage rates across a variety of providers.