Limited vs Unlimited Trading

nac

Well-Known Member
#1
Hi!

I am from chennai. I am planning to start TRADING as my career. Can you guys suggest/advice me on few things....

Paying a fixed amount every month and trade unlimited no. of times is good (I feel that it will be real nice for JOBBING purpose).
But, upto my knowledge only two brokers are offering such plan. RK Global and Sharebazaar(When I inquired bajaj capital they said there is no more unlimited plan).
Between these two who is more reliable and with whom I can open a/c.
I feel that there is drawback by opening a/c with these brokers i.e., both of them are not in chennai.
Do anyone know any other brokers offering such plans? If yes, please give me some contact details. I would really really appreciate that.

Any of you guys have anything against these brokers???
If you suggesting any other broker, please tell why...

Any opinion/suggestions/advice are welcome. Please feel free to write back your views.

Thank you....
 

columbus

Well-Known Member
#2
Hi!

I am from chennai. I am planning to start TRADING as my career. Can you guys suggest/advice me on few things....

Paying a fixed amount every month and trade unlimited no. of times is good (I feel that it will be real nice for JOBBING purpose).
But, upto my knowledge only two brokers are offering such plan. RK Global and Sharebazaar(When I inquired bajaj capital they said there is no more unlimited plan).
Between these two who is more reliable and with whom I can open a/c.
I feel that there is drawback by opening a/c with these brokers i.e., both of them are not in chennai.
Do anyone know any other brokers offering such plans? If yes, please give me some contact details. I would really really appreciate that.

Any of you guys have anything against these brokers???
If you suggesting any other broker, please tell why...

Any opinion/suggestions/advice are welcome. Please feel free to write back your views.

Thank you....
If you want to take Trading as Profession then ,go for RKG.
The only drawback is RKG's web version does not have charting
capabilities.
 

AW10

Well-Known Member
#4
I think, it depends what type of trading style you are going to use. You can be making your living thru swing trading. In that case you might execute very few transaction in a month and fixed brokerage might be a bad deal.
But if you are going to do scalpping/jobbing, then it certainly makes sense.
 

nac

Well-Known Member
#5
I think Reliance money is also providing unlimited trading, with very less brokerage.
Regards
Saivenkat.
I guess it's not.
They say its UNLIMITED, but actually its not.

Apart from paying Rs. 6000/- as subscription charge, we need to pay Rs.15/- per trade execution.
Assume I am trading 50 trades every day. I should pay Rs. 750/-
Subscription period is 90 days.(trading days would be around 64 days)
i.e., I will be paying around 48000/- as other charges.
Total = Rs. 54000 (6000+48000)
Monthly Rs. 18000/-

Then I need to pay other charges like regulatory charges, STT, Stamp duty...
 
#6
dear friend,

iam also from chennai..

my suggestion is when you go for unlimited trading .. you cannot expect good service from these peoples.. always open a account with registered small brokers where they will be flexible with you on all terms....

Already trading is a risky and tension business but good business so atleast the broker should not make you tension

take care.. happy trading
 

nac

Well-Known Member
#7
Already trading is a risky and tension business but good business so atleast the broker should not make you tension
You are 100% right. Brokers shouldn't make us tensed.

And it's bit hard to earn profit when scalping if the brokerage is high.

If not unlimited, the best quotation from the broker i got was .01% for intraday.
I was calculating (Roughly) my daily turnover would be around 1.5-2 Crores.
i.e., 30-40Crores a month. I would be paying 30k-40k as brokerage every month with this brokerage structure.

I want you to reply to this JULIANDAVID. I would really be happy if you make a comment on this.

And thank you so much for your earlier comment. Really thats nice.

I am hoping you would reply to this.

Guysssss others can comment too. Please go ahead and comment
 

vinodkiyer

Well-Known Member
#8
go for rk global monthly scheme if you want to trade intraday, keep your no. of trades low and keep a target to achieve every day. stop trading for the day once your daily target is achieved.
 

Capricorn

Well-Known Member
#9
dear friend,

iam also from chennai..

my suggestion is when you go for unlimited trading .. you cannot expect good service from these peoples.. always open a account with registered small brokers where they will be flexible with you on all terms....

Already trading is a risky and tension business but good business so atleast the broker should not make you tension

take care.. happy trading
Very good points. My personal experience is once you have given them the money u got to run after your own money. So anything prepaid and you can assume little or no service.:)
 

columbus

Well-Known Member
#10
Already trading is a risky and tension business but good business so atleast the broker should not make you tension

take care.. happy trading
Under tension one is likely to take WRONG decisions.