My experience with Angel Broking

Guys, I would like to share my experience of dealing with Angel Broking for a new account. Since I am having an account with another broker, I asked Angel Broking to send me the brochures and details that I have to sign. They did send me a Booklet heading "Know Your Client" where all the details regarding BSE and NSE Agreement is there but found out that one important detail is not there and that is the Brokerage details. When I checked with Angle Brokerage, their answer is that once Angel Broking Executive and the Client agrees on a particular brokerage then it is submitted by the Angel Broking Executive and the Contract Note is sent. On further checking with the Executive, he told me that Brokerage once agreed between the Client and Angel Broking is reconfirmed when an Angel Broking Executive calls the client over the telephone and if the rate is okay the client confirms it.

When I insisted that the brokerage should be in writing and that once i sign on the dotted line then there is no need to verbal confirm, the executive reiterated that this is how it is done.

Now I understand why many people fall prey to their false promises of best brokerages.

I am still trying to impress upon them that a written brokerage rate signed by me is the best way to go ahead and am waiting.

If any of you Guys have the same kind of experience, please do share.
Regards,

Hi guys,

can anyone help me i want to open one demat account i already have demat account in icicidirect,reliancemoey and indiainfoline icicidirect is good but brokerage rates very high so i stopped trading there, reliance money is worst service india infoline i feel something ok but from last one month i not feel ok with them so thinking some new broker.

currently i am trading with india infoline and hope 10-15 i find some new broker.

while suggesting me some broker plz these things should be there

Refresh rate should be like india infoline(Auto refersh with one second delay)
No window lock if user left window in idle.
i paying brokerage 10 paisa for delievery and 1 paisa for intra day and in future and option i paying 1 paisa each leg

i am a day trader and daily my turn over is 2-3-4 lakh in cash and sometime according to situation i try future and option also.

plz suggest me some good broker

Hi Satveer,

Angel Broking would be a right option for you, based on your requirement: but I doubt whether you can get brokerage of 0.01% for trading based on your volumes you said. Even if you do a volume of say 4 lac in trading, brokerage will be just Rs 40 rupees. I believe they charge Rs 30 as a minimum brokerage. If you're doing 2-3-4 lac volumes in delivery then you can get a good or comparable rate. In the past I have spoken to many brokerages, but at the end I felt Angel is the best. And even I am happy with their services and online S/W application. Their streaming quotes for online are instant.

Regards,

What brokerage can you get for 6-8 lakh in FnO?
I heard in Angel it matters more on the margin check even though volumes may be like 6-8 lakh.

Hi Alroyraj, My volumes are in the range of 6-8 lacs daily cash and delivery combine, I am charged a brokerage of 0.03% and 0.20 on delivery. I have read a lots on few forums that many get a brokerage of 0.01% and 0.10%, but I doubt whether it is true. Because I read the balance sheet of many companies, including few listed brokerage companies like Motilal Oswal, India infoline, Geojit, they claim to be realising a yield of 0.06%, 0.075% and 0.09% respectively on their trading volumes. Hence it is clear that these statements of few on this forum are just not right(or are expectations)--OR are we saying these brokerages with audited PnL statements are lying???

The majority of people still are offered 0.05% intraday per leg and 0.5% delivery basis. Those getting lower brokerage are a minority compared to the total clientele and also generate huge volumes because they trade multiple contracts. Those using internet trading still constitute typically only 25%. HNI's still trade at the higher rate from 9 till 10:30.
Some traders has lower brokerage at 0.01% per leg use exposure for upto 6 days where there is an interest cost of 16% (SK),22%(IB) etc. so it becomes like profit sharing almost.
The thing is to benefit from lower brokerage and maximise gain one typically needs to have higher volumes and/or a higher margin check like 50k to a lakh in the trading account.

Hi Alroyraj, My volumes are in the range of 6-8 lacs daily cash and delivery combine, I am charged a brokerage of 0.03% and 0.20 on delivery. I have read a lots on few forums that many get a brokerage of 0.01% and 0.10%, but I doubt whether it is true. Because I read the balance sheet of many companies, including few listed brokerage companies like Motilal Oswal, India infoline, Goejit, they claim to be realising a yield of 0.06%, 0.075% and 0.09% respectively on their trading volumes. Hence it is clear that these statements of few on this forum are just not right(or are expections)--OR are we saying these brokerages with audited PnL statements are telling blatant lie???

Confusing regarding the turnover, as far as i understand turnover means suppose i buy 1 Lot of Futures x 50 = 271,800/- do i consider this as the turnover of 2 lakh, is it correct, please