Angel Broking or Some Other Broking

Hi,

Finally, I have compiled a list of brokerage rates and queries that I would as the brokerages and then select the best. The following is based on Angel Broking.

1.
ACCOUNT OPENING CHARGES FREE IF RS.25,000/- MARGIN GIVEN. This margin can be utilised for purchase of shares. No promises of turnover will be given to Angel Broking.

2.
BROKERAGE CHARGES FOR INTRADAY SHOULD BE 0.01% FOR BUY AND 0.01% FOR SELL.

3.
BROKERAGE CHARGES FOR DELIVERY SHOULD BE 0.10% FOR BUY AND 0.10% FOR SELL.

4.
BROKERAGE CHARGES FOR NIFTY FUTURES SHOULD BE 0.1% FOR BUY AND 0.01% FOR SELL.

5.
BROKERAGE CHARGES FOR SCRIPT FUTURES SHOULD BE 0.1% FOR BUY AND 0.01% FOR SELL.

6.
BROKERAGE CHARGES FOR OPTION NIFTY SHOULD BE RS.25.00 PER LOT FOR BUY AND RS.25.00 PER LOT FOR SELL.

7.
BROKERAGE CHARGES FOR OPTION MINI NIFTY SHOULD BE RS.10.00 PER LOT FOR BUY AND RS.10.00 PER LOT FOR SELL.

8.
BROKERAGE CHARGES FOR OPTION SCRIPT SHOULD BE RS.25.00 PER LOT FOR BUY AND RS.25.00 PER LOT FOR SELL.

9.
MINIMUM BROKERAGE OF Rs.30/- should not be there because if there is minimum brokerages then along with other taxes it will eat away the profit that I make. This also means that UNLESS I DO 2 LAKH TURNOVER I SHOULD NOT BE DOING INTRADAY OR MINIMUM CASH DELIVERY BUY OF RS.15000/- OR ANY THING LESS WILL BE PAID @0.30% not 0.20%.

10.
No extra charges to be levied for penny stocks which are below 80.00.

11.
Annual Maintenance Charges of Rs.300/- will be given.

12.
What is Mandatory Documents and Voluntary Documents. What is the difference and why should I sign the Voluntary Documents. Is it as per the SEBI/NSE/BSE Rules.


13.
FREE SOFTWARE ECHOPDA SHOULD BE PROVIDED-
This is separate exe based software offered by them which keeps records of all your transaction. I found this of great help as i automatically calculates the total brokerage , security transaction tax, profit and loss on each security. Also it will be of great help while filing INCOME TAX RETURN as you dont have to waste time on computing STT separately.
I've learned from my experienced that keeping good records is of utmost importance for traders. Even master traders like Alexander elder consider it the most important trading discipline after your trading system.

14.
Software like ODIN will be free. No charges to be there for the same. Also, extra copies of the software to be given.

15.
SMS Alert will be free. No charges for the same.

16.
Transaction Statement to be send monthly/quarterly TO ADDRESS AND/OR EMAIL.

16.
DOES DIET ODIN SUPPORT WINDOWS 7?

17.
ANGEL WILL BE CHARGING FOR Account Statement Requirement Extra? WHAT IS THIS? WHY TO CHARGE EXTRA Do Not Agree for This.

18.
IPO investing charges in Angel Trade. IS IT FREE? WHAT CHARGE FOR IPO INVESTING.

19.
DELIVERIES/DEBIT TRANSACTION WHAT IS THIS?
(1) WITHIN ANGEL RS.25/ISIN (2) OUTSIDE ANGEL Rs.21/-

20.
If Angel Broking goes back on their agreement and if i want to cancel the Broking Agreement, what is the charge for converting from Demat to Paper Certificate.

I am planning to ask all the above. Please advise if there are any other queries that I need to ask so that once I enter into an agreement with Angel Broking, I do not repent later on.

Your valueable feedback is required. Regards,

Since nifty futures or stock futures are charges like equity intraday rate even if taken for delivery,it should have the same rate for buying and for selling as that of each leg of the intraday trade .

Same as above.

All okay.
Minimum brokerage they usually charge is say the intraday rate like in this case above 0.01 or 1 paise for shares less than Rs 80 assuming you get the 0.01% rate intraday.
Mandatory Documents are the ones like Power of Attorney for internet trading etc.
Voluntary ones are the running account authorisation to settle accounts on a monthly or quarterly basis. It is okay to sign it.
In case you have your demat a/c with Angel,then you have to pay 21 per script but in case you already have a demat account and open and use a trading account with Angel, then it is only Rs 11.

It is called rematerialisation. It is an old feature useful if you want t leave the city and move to a village even you can do this.

I am planning to ask all the above. Please advise if there are any other queries that I need to ask so that once I enter into an agreement with Angel Broking, I do not repent later on.

Your valueable feedback is required. Regards,[/QUOTE]

Also ask the following:
1. Is the ledger updated automatically after sellng a futures contract or equity shares?
2. In case of having an equity as well as commodity trading account is the margin trasferable from one to another. Say ,you just sold 50,000 Rs worth of M&M can the same to amount credited to the ledger be used to purchase commodity futures contract?
3. Cut off Time for trading intraday with intraday exposure. Some people have managed to get it upto 3:30 on leverage ,mostly it is 3 pm for others.
4. Delivery Minimum charge or demat charge how much do they charge I heard last 21 or 11.
5. Ask also about inter settlement charges on delivery .

Thanks Alroyraj, will be asking point no.1, 4 and 5 also, since not interested at present in commodity trading.

Nowadays,the commodity account is usually given free.
And with the volatility and if there is a sudden crisis,you may want to buy gold futures and sit.So better to have that option ready. Monitoring the general commodity markets,is another way of knowing if the economic recovery is sustainable along with the closing prices of world markets. Commodity prices are a leading indicator and also Angel is having quite good perception of these markets.

Hi, I had written to the executive who called me up to open the account with Angel, yesterday he was following up for the email and i had forwarded a copy to his email yesterday and till today i have not received any reply from the guy. Waiting for him to reply, hope i dont have to keep on waitin a reply from Angel.

point4&5 mention about0.10% for buying it should be .01

Yes, you are right, my mistake.

Guys, the executive has still not reverted with his answers to my above queries. Let us see whether he will revert back within next 2/3 days otherwise, assume Angel doesnt like customers like me.

Only the customer care responds to emails. RMs and marketing personnel in any field do not respond to emails.Call him and tell you sent him a mail that would do. He has his targets anyway.

In my case it was the other way around, the marketing exective used to call me just after i sent the email, this guy called me to check for opening the account and when i said that i have sent an email, he said he did not receive it, so i told him that i will resend and so next day i again sent the same email as mentioned here in this link, but since then not received any reply so i guess, Angel Broking does not want clients who ask to many legal entangled questions because they would like people who does not understand the legal terminology of wordings hence i beleive the marketing exective has not replied or may be i might have been mistaken, he might be taking time to reply because it is a lengthy query,

one more thing i thought i would not bargain the rates at this point in time because hence all points except the brokerage rates queries was raised. Let us see whether he comes back next week end ie. 29th August, 2010.