Just opened account with angel

I just filled the form and opened an account with the angel

Here's the deal

- No account opening fee
- I have given margin of 25,000 (gave cheque of 25K)
- Intraday 2 paisa
- Delivery 20 paisa

- Min brokerage 30 rupees, both side for intraday and one side for delivery

What do you guyz think

Dear Snimavat,
Deal seems to be good, but the minimum brokerage will be on the total contract and not both the sides. Brokerage would be on both the sides. Please respond for clarity. Thank you.

Yes, minimum brokerage is for total (buy + sell) for intraday and for each side (buy and sell) for delivery.

Brokerage is on both sides.

I was told that minimum brokerage will be Rs.30/- buy and Rs.30/- sell intraday and also Rs.30/- buy delivery and Rs.30/- sell delivery. Pls let me know, it seems these are different based on bargaining capabilities.

1) By the way dont you think that if you purchase Mini Nifty Futures 1 Lot i.e. 20 x 5425 = 108500/-, the brokerage on this should be Rs.21.70 so if you agree for the minimum brokerage of Rs.30.00 then if you buy Mini Nifty Futures 1 Lot, you will have to shell out another 8.30 to Angel.

2) Suppose you buy Birla Cotsyn 10000 quantity at 1.15, the total amount will come to Rs.11,500 x 0.20% Brokerage = Rs.23.00, since this amount of Rs.23.00 is less than minimum brokerage Rs.30/-, you will have to shell out Rs.7/- extra every time you buy Birla Cotsyn 10000 quantity.

Morover, i believe that for shares value less than Rs.100/- Angel charges minimum Rs.100/- could you confirm.

By the way, did you sign the Brokerage Rate Form or did they say that only these rates will be applicable and that these will be confirmation phone call to check that is the rate given to the client.

Regards,

Sales representative has told me that for intraday, min brokerage would be either for buy or for sell but not for both. You should confirm with angel though, Or he might have lied to me.. either you or me has been cheated thn..


I don't know about this.. will have to check..

not fair for small traders. minimum 15 rupees would have been acceptable. have been lurking here on lookout for new broker myself. Are there any Annual maintenance charges? what is the margin exposure?

30 Rs min brokerage is just too high

Annual maintenance fee is 300 Rs. I dont know about the margin.. can you explain what is 'margin'.. I think, i have given initial checqueue of 25K so 25K is margin..

Normally, Annual Maintenanance Charges will be there but it should be checked with the Sales Executive. Also, Sales Executive will say it is not there but they might charge 2nd year onewards, should check with them.

I was told i will be given an exposure of 6 times.

Hi,

Can you let me know whether they gave the brokerage rate charges for you to sign at the time of opening the account along with other forms or did they sent it later?