A guide to brokers in India

Ok, I'd kind of wished that there was a comprehensive guide to various brokers & each & every aspect of the service they provide, etc I did a few searches but couldn't find anything so I decided to initiate one myself

We'll just focus on a brief overview of the various aspects & the words will be hyperlinked to the respective post/poster, where possible.

I'd like the whole thing to be up on the first post itself because some of these threads get very long-winded & then it becomes a cumbersome task for later readers to go through the whole thread.

Of course, you can suggest new brokers that aren't on the list or details that you'd like to see & would be of benefit to everyone.

By the way, many brokers have flexible brokerage & other offerings so it'd be advisable to mention the initial-margin, turnover per day/month, etc that is needed to bargain for a certain brokerage or any other facilities.

NOTE - Changes will only be made as per the information available so some of the information mayn't be 100% accurate or may be outdated. I DON'T have all the latest information right now so I'll update things as I get it or when posters post here

AngelBroking

Opening Charges - 490 + 40 (REFUNDABLE), Commodity-Trading-A/C - 625
AMC - Free for first 2 years & 300 from 3rd year
Terminal - Odin
Terminal Speed - Fast
Terminal-Charges - 0
Charting - Average
Brokerage-Equities - 0.01-0.05% (intraday), 0.10-0.50% (delivery)
Brokerage-Futures - 0.01-0.05%
Brokerage-Options - 50 + 50
Bank-Gateways - Allahabad,Axis,BOBaroda,BOI,BORajasthan,CentralBOI,Corporation,Federal,HDFC,ICICI,INGvysya,Karnataka,OrientalBOC ,SouthIndian,UBI,Vijaya,YES,Dhanalaxmi,BOBahrain&Kuwait,Deutsche
Exchange-Memberships - BSE,NSE,MCX,NCDEX


Sharekhan

Opening Charges - 0/750/1000*
AMC - Free for 1st year & 400/years afterwards
Terminal - TradeTiger
Terminal-Speed -
Terminal-Charges -
Charting - Very Good
Brokerage-Equities - 0.10% (intraday), 0.50% (delivery) [NEGOTIABLE]
Instant-Transfer-Gateways - Axis,BOI,Citi,Deutsche,HDFC,ICICI,IDBI,Indusind,OrientalBOC,UBI,YES
Exchange-Memberships - BSE,NSE,MCX,NCDEX


IndiaInfoLine

Opening Charges - 555
AMC - 0
Terminal - TT Advance
Terminal-Speed -
Terminal-Charges -
Charting -
Brokerage-Equities -
Brokerage-Options - 25 + 25
A/C-Closing-Charges - 250


Zerodha

Opening Charges - 200/300 for Trading & 500/600 for Trading + Demat
AMC - 0 for Trading A/C & 400 for Demat
Terminal - NSE NOW
Terminal-Speed - Very Fast
Terminal-Charges -
Charting - Poor
Brokerage-Equities - 0.01% (intraday), 0.1% (delivery)
Brokerage-F&O - 0.01% or Rs.20 whichever is lower
Brokerage-Currencies - 0.01% or Rs.20 whichever is lower
Margin-Against-Stocks - NO
Auto-Square-Off - 3:10


IndiaBulls

Opening Charges - 1 - 900, 2 - 1200
AMC - 0
Terminal - PowerIndiaBulls
Terminal-Speed -
Terminal-Charges -
Charting -
Brokerage-Equities - 1 - 0.02%(intraday), 0.2%(delivery), no strings attached, 2 - 0.03%(intraday), 3 - 0.01%(intraday), 0.1%(delivery)
Brokerage-Futures - 0.03%
Brokerage-Options - 1 - 100 + 100, 2 - 50 + 50
Instant-Transfer-Gateways - HDFC,ICICI,Axis,IDBI


ShriramInsight

Opening Charges - 290
AMC - 0
Terminal - Nest
Terminal-Speed - Very Fast
Terminal-Charges-
Charting -
Brokerage-Equities - 0.03%(intraday), 0.3%(delivery)
Brokerage-F&O - 50 + 50


RKGlobal

Opening Charges - 200
AMC - 1st year free
Terminal - Odin
Terminal-Speed -
Terminal-Charges - Odin - 299/month, Web-Interface - 99/month (service tax extra on both)
Charting - Average
Brokerage-Equities -
Brokerage-F&O - 9 + 9
Margin/Leverage - 6 times (intraday), 100% (delivery)
Instant-Transfer-Gateways - HDFC
Margin-Against-Stocks - NO


Religare

Opening Charges - 500
AMC -
Terminal - RACE
Terminal-Speed -
Terminal-Charges - 1800 per year (Refundable if Brokerage exceeds 1800)
Charting -
Brokerage-Equities - 0.03%(intraday), 0.3%(delivery) [NEGOTIABLE AS PER TURNOVER]*
Brokerage-Options - 50 + 50
Margin/Leverage - Upto 20 times on intraday-Equities


Geojit

Opening Charges -
AMC - 400
Terminal - FLIP
Terminal-Speed -
Terminal-Charges -
Charting -
Brokerage-Equities - 0.03%(intraday), 0.3%(delievry) [1 paisa per share minimum]
Brokerage-Futures - 0.03%
Brokerage-Options - 75 + 30*
Instant-Transfer-Gateways - HDFC,ICICI,Federal,Citibank,BOI,IDBI,PNB,UB
Margin/Leverage - 4 Days, 50%
Margin-Against-Stocks - YES
Auto-Square-Off - 3:15


Kotak

Opening-Charges - 0
AMC -
Terminal - KEAT Pro X
Terminal-Speed -
Terminal-Charges - Free
Charting -
Brokerage-Equities - 1 - Official Brokerage Structure, 2 - 0.02%(intraday), 0.15%(delivery)
Brokerage-Futures - 0.02%
Brokerage-Options - 70-100 + 70-100
Margin/Leverage - Upto 14 to 20 times in intraday-Equities*


InteractiveBrokers (US-based international broker)

Opening Charges -
AMC -
Terminal - Trader WorkStation
Terminal-Speed -
Terminal-Charges -
Charting -
Brokerage-Equities - Official Brokerage - 0.05% (Charged only on opening-leg for intraday on NSE)
Brokerage-Futures - 0.01%-0.03% (Charged only on opening-leg for intraday on NSE)
Brokerage-Options - 30-50 + 30-50* (Charged only on opening-leg for intraday on NSE)
Margin/Leverage - Upto 3-25 times


ICICIDirect

Openinng-Charges - 750 (NON-REFUNDABLE)
AMC -
Terminal - TradeRacer
Terminal-Speed -
Terminal-Charges -
Charting -
Brokerage-Equities - 0.03-0.05% (intraday), 0.25-0.75% (delivery)
Brokerage-Futures - 0.03-0.05%* (second leg of intraday will be flat Rs.15)
Brokerage-Options - 65-95* (second leg of intraday will be flat Rs.15)


Axis

Opening-Charges - 850 (NON-REFUNDABLE)
AMC - 540
Terminal -
Terminal-Speed -
Terminal-Charges -
Charting -
Brokerage-Equities - 0.03-0.05% (intraday), 0.20-0.60% (delivery)
Brokerage-Futures - 0.03-0.05%
Brokerage-Options - 65-100 + 65-100


SMSOnline

Opening-Charges - 499
AMC - 0* (if you don't trade in a quarter then Rs.75 for that quarter)
Terminal - SMS Privilege
Terminal-Speed -
Terminal-Charges -
Charting -
Brokerage-Equities - 0.03% (intraday), 0.30% (delivery) [NEGOTIABLE AS PER TURNOVER]
Brokerage-Futures - 0.03%
Brokerage-Options - 60 + 60
Bank-Gateways - Axis,HDFC,ICICI,IDBI,YES
Margin-Against-Stocks - YES
Exchange-Memberships - NSE,BSE,MCX,NCDEX,NMCE,ACE,ICEX


Bonanza

Opening-Charges - 333/999*
AMC - 0/275*
Terminal - OdinDiet & BonanzaMax
Terminal-Speed -
Terminal-Charges -
Charting -
Brokerage-Equities - 0.04% (intraday), 0.40% (delivery)[NEGOTIABLE]
Brokerage-Futures - 0.04%
Brokerage-Options - 80 + 80
Exchange-Memberships - BSE,NSE,MCX,NCDEX


MotilalOswal

Opening-Charges - 600
AMC - 1st year free & 400 per year afterwards
Terminal - MyBroker
Terminal-Speed -
Terminal-Charges -
Charting -
Brokerage-Equities - 0.10%(intraday), 0.50%(delivery)[NEGOTIABLE AS PER TURNOVER]
Brokerage-Futures - 0.10%
Brokerage-Options - 80 + 80

Reliance

Opening-Charges - 750
AMC - 200
Terminal -
Terminal-Speed -
Terminal-Charges -
Charting -
Brokerage-Equities - 0.01-0.04%(intraday), 0.15-0.40%(delivery)
Brokerage-Futures - 0.01-0.04%
Brokerage-Options - 50-80 + 50-80


Unicon

Opening-Charges - 300* (initial deposit of 1000 required)
AMC - 1st year free & 250 per year afterwards
Terminal - UniconSwift
Terminal-Speed -
Terminal-Charges -
Charting -
Brokerage-Equities - 0.03%(intraday), 0.30%(delivery) [NEGOTIABLE AS PER TURNOVER]
Brokerage-Futures - 0.03%
Brokerage-Options - 50-100 + 50-100
Bank-Gateways - ICICI,HDFC,OrientalBOC,Axis,BOI,Corporation,Karnataka,SouthIndian,Vijaya,YES
Exchange-Memberships - NSE,BSE,MCX,NCDEX

I'll add more details as I acquire it

My broker charges me Rs20 min per contract note. But I am still in learning phase and do small tradings. So even if my actual brokerage is around is Rs 5 I end up paying Rs20 .
Can anyone suggest any remedy or any other broker . I do not want to pay account opening charges also....
My contact details are [email protected]

At the cost of sounding like Zerodha's agent (which I'm NOT), check out Zerodha-thread, they're offering a single plan of "0.01% or Rs.20, whichever is LOWER" (0.1% for delivery); meaning that if you buy/sell worth Rs.50000 (intraday) then brokerage will be charged Rs.5, Rs.10 for 100000 & anything beyond 200000 will be Rs.20 ONLY, even if you make a buy/sell worth Rs.1cr or even more (in ONE order), you'll only be paying Rs.20 :clap:

I don't know if they'll waive the A/C opening charges or not but if you open only Trading A/C (as you've mentioned in another thread) then it'll be only 300 & 200 if you print the A/C-opening-form yourself (IF you really insist on not paying any opening-charges then may be check out Sharekhan & Kotak's offerings, as you can see they are/were waiving it off, & Angel too are/were waiving it if you'd make a trade within 15-days after an A/C is opened with them)

Check out the form & instructions for Trading A/C & you can post in the Zerodha-thread for any queries http://www.zerodha.com/download/index.html

And one more thing - NO MINIMUM-CONTRACT-NOTE

Interactive is having a problem they charge much more than any broker for intraday that is .025 or Rs 2500 per crore other wise they are atleast 50 years ahead of any broker in india in term of software

There software can do things other brokers cant even dream of or dont have those facilities at there prop desks also which interactive broker gives to there Retail client ( OF COURSE CLIENT HAS TO KNOW HOW TO USE SOFTWARE TO ITS FULL CAPABILTIES )

ZERODHA SADLY DOEST PROVIDE MARGIN AGAINST STOCKS THERE ARE THE TWO BROKERS I WANT TO HAVE A ACCOUNT WITH BUT DUE TO THESE TWO ISSUE CANT OPEN WITH ANY ONE

@New Born trader:

Right you are not Zerodha's agent..you fly from forum to forum in search of best deal as if you are the son-in law of Bombay Stock Exchange and so you should not be charged at all..if your research on account opening charges is complete kindly reply para wise:

Which broker does not charge AMC?:clap:

Which broker offers freebies for Newbies?:clap:

Which broker charges minimum transaction charges?:clap:

Which broker has offered you no stamp duty:

Reply as soon as possible:

Waiting eagerly for your posts

:fatigue:

Oh my, you're really intent on turning yourself into even more of a laughing than you already were :rofl:

Anyways, by now, I'm sure almost everyone on Traderji has figured out that you're just a conceited troll with no life & only live to insult & pick fights with everyone :rofl:

Sorry pal but I don't have accounts with all these brokers, the list above is merely a compilation of experiences of others & the things I've come across on this website as well as elsewhere on the internet, that's why I've hyperlinked as much as I could. The only post I've come across recently about Tata Securities is this one by "shubhamz" but you've already seen that one, so I guess you'll just have to call up Tata Securities & ask them about the basic info.

Just my opinion.....so take it with a grain of salt ......I believe it's better to deal with "professional brokers" rather than companies that just put up shop to diversify & to cash in on their exploits & brand-name which was made elsewhere. Cheers