Dear Friends,
How can someone claim that this is the best or that is the best. Reading the threads, i realized that there are many members who depend on the valued opinions of others to arrive at a decision, the most common one being which brokerage to choose. Hence it is absolutely unacceptable to proclaim that Geojit is the best. Talking about problems is fine, but promoting one brokerage is not fine. Because there are no benchmarks and metrics to compare them. Take the case of Geojit. Is it plain naivity or a case of sheer innumeracy? How can Geojit be the best and at the same time not give real time data. For near real time data you have to commit Rs. 500 per month and for proper real-time data with fast trade execution you have to commit Rs. 3000 per month. For total trade value of Rs 30 lakhs, the brokerage comes to Rs 3000 at the rate of .1 per cent, which is very high for the kind of trading you are doing (unless all of it is delivery based, which requires Rs. 10 lakhs of trading per month), irrespective of market conditions. Indiabulls gives the same facility for a one time software fee of Rs 750 only. But Indiabulls has other issues. So it brings us back to the same points. Unless there are proper benchmarks and standards to measure the effectiveness of brokers, say on speed of execution, customer support, user friendliness, quality of RMs etc, we can only voice our experiences and not claim that one is the best. A debate is welcome.
How can someone claim that this is the best or that is the best. Reading the threads, i realized that there are many members who depend on the valued opinions of others to arrive at a decision, the most common one being which brokerage to choose. Hence it is absolutely unacceptable to proclaim that Geojit is the best. Talking about problems is fine, but promoting one brokerage is not fine. Because there are no benchmarks and metrics to compare them. Take the case of Geojit. Is it plain naivity or a case of sheer innumeracy? How can Geojit be the best and at the same time not give real time data. For near real time data you have to commit Rs. 500 per month and for proper real-time data with fast trade execution you have to commit Rs. 3000 per month. For total trade value of Rs 30 lakhs, the brokerage comes to Rs 3000 at the rate of .1 per cent, which is very high for the kind of trading you are doing (unless all of it is delivery based, which requires Rs. 10 lakhs of trading per month), irrespective of market conditions. Indiabulls gives the same facility for a one time software fee of Rs 750 only. But Indiabulls has other issues. So it brings us back to the same points. Unless there are proper benchmarks and standards to measure the effectiveness of brokers, say on speed of execution, customer support, user friendliness, quality of RMs etc, we can only voice our experiences and not claim that one is the best. A debate is welcome.