Doubt regarding broking and trading

M

magnet

Active Member
#1
#1
Well i already have a trading account with my parent bank hdfc

Now i am looking to open an account with another trading house firm

Reason

1:: Hdfc charges 0.5% for delivery which i see all broking house charge by default and just a bit pestering offer upto 0.3 or 0.4%.But most important stuff is their default trading site doesnt excite me nor do its portfolio management.I use the free rediff platform to decide which share to buy as i hardly see any parameter to trade directly through hdfcsec.

2:: ALso i want to start trading in commodities and i dont think hdfc offers same


Now coming to deciding broker house

From this forum some of them which seems to be good is sharekhan,geojit,prabhudad liladhar,angel ,indibulls etc.

Now i found angel to be the nearest to my place.So i decided to open an account with them.

Now i have some doubts

Can somebody answer them as angel response were not much convincing or were just plain talks

1:: If i open a trading account with angel say angel diet.the broker told me to deposit 5k amount and have margin of 10 times which i can withdraw.Can i use the same platform for commodities or i have to do something more.

2::Now what angel told me is whether i have to open demat with them or not.If i do have to pay amc charges approx 500.Now what i understood is even hdfc charges same to me on yearly basis.So can i have a demat account with hdfc and just trading with angels.As hdfc reverses the charges
which they apply on me as amc as i am a preferred account holder .EVen if its possible what formalities i have to do after every transaction?And how will my bank account reflect stuff i bought as i transfer 25k worth amount and trades for say 5678 rs and all other amount reversed.

3::penny stocks.Angel said their is nothing as we dont allow trading in any stock.You can trade in any stock and the minimum charges would be 30+taxes and for others according to your brokerage.
Say i buy 20k shares of 1rs price than brokerage would be 100 buks according to 0.5% structure.Someone please confirm that as i see in some threads it says stocks below 80 bukh market price are treated as penny and charged 0.5 paise per share.So for 20k shares of 1 rs price brokerage comes upto 10k rupees. Can someone confirm?

4::Also is karur vysya bank affilated with angel to transfer funds online?I am planning to open an account with them
 
D

dhruvrs

Member
#2
#2
Hey,

You can use angel diet for commodities trading, but you need to open the commodities account separately. I dont think you can withdraw 5k.

As for your demat & trading A/c, it is possible to have demat with HDFC and trading with angel. Even my demat is with ICICI and I do my trading with Angel. There is no problem while buying the shares, but every time I sell my shares, I have to visit ICICI branch to submit the delivery instruction slip to transfer the shares from ICICI. So I would suggest in order to avoid this hassle keep your demat and trading with the same broker. Thats why even I m planning to open my demat with angel.

And angel doesnt have any different brokerage for penny stocks. They charge minimum brokerage of 30rupees for all contracts, which every broker charges. But at the same time, no broker can charge brokerage of more than 2.5%, whether it is for penny stocks or group A stocks. Thus, for 20000 shares of 1 rupee, the maximum brokerage that can be charged is 20000 x 2.5% = 500 rupees.

As far as I know Karur vysya bank is not affiliated with angel broking.


magnet said:
Well i already have a trading account with my parent bank hdfc

Now i am looking to open an account with another trading house firm

Reason

1:: Hdfc charges 0.5% for delivery which i see all broking house charge by default and just a bit pestering offer upto 0.3 or 0.4%.But most important stuff is their default trading site doesnt excite me nor do its portfolio management.I use the free rediff platform to decide which share to buy as i hardly see any parameter to trade directly through hdfcsec.

2:: ALso i want to start trading in commodities and i dont think hdfc offers same


Now coming to deciding broker house

From this forum some of them which seems to be good is sharekhan,geojit,prabhudad liladhar,angel ,indibulls etc.

Now i found angel to be the nearest to my place.So i decided to open an account with them.

Now i have some doubts

Can somebody answer them as angel response were not much convincing or were just plain talks

1:: If i open a trading account with angel say angel diet.the broker told me to deposit 5k amount and have margin of 10 times which i can withdraw.Can i use the same platform for commodities or i have to do something more.

2::Now what angel told me is whether i have to open demat with them or not.If i do have to pay amc charges approx 500.Now what i understood is even hdfc charges same to me on yearly basis.So can i have a demat account with hdfc and just trading with angels.As hdfc reverses the charges
which they apply on me as amc as i am a preferred account holder .EVen if its possible what formalities i have to do after every transaction?And how will my bank account reflect stuff i bought as i transfer 25k worth amount and trades for say 5678 rs and all other amount reversed.

3::penny stocks.Angel said their is nothing as we dont allow trading in any stock.You can trade in any stock and the minimum charges would be 30+taxes and for others according to your brokerage.
Say i buy 20k shares of 1rs price than brokerage would be 100 buks according to 0.5% structure.Someone please confirm that as i see in some threads it says stocks below 80 bukh market price are treated as penny and charged 0.5 paise per share.So for 20k shares of 1 rs price brokerage comes upto 10k rupees. Can someone confirm?

4::Also is karur vysya bank affilated with angel to transfer funds online?I am planning to open an account with them
Click to expand...
 
S

sditn

Member
#3
#3
I do have trading account with HDFC Sec, there brokerage charges are standard and now they have start providing tips through sms facility, live market watch facility even portfolio options is available thru online in my trading account option in that portfolio option is avaiilable if you access your account thruough online which will help you to get realised and unrealised profit and loss but they dont have trading in commodity facility.
 
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