A Warm Hi!

Welcome to traderji...

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ganeshhity

Hello Sonia,

Before choosing a broker try to decide what type of trading you plan to do. Is it intraday ,Swing trades( hold for 2-3 days or more) or pure long term investment. Or do you prefer Online trading or prefer to execute your trades through a local offline broker.Most of the brokers providing online services also have local branches. So if you plan to trade from the comforts of home better go for an online broker. But then you need a good reliable internet connection.

You have lot of good choices for a good broker and DP. Some of the well known brands are Kotak securities, Indiabulls, Geojith securities, 5paisa ICICI Securities etc. Certain things you have to keep in mind while choosing a online broker is that
1. Is online transfer of funds possible and what is the maximum number of days it will take the broker to transfer your funds back to your bank account. Normally it does not take more than 2 days after the transfer request placed by you. When you transfer to the broker it takes hardly 45minutes to I hour. So getting it back also should take the same time which is not the normal case and also depends on the time of transfer request placed. Say you placed the transfer request in the afternoon most probably the broker will process your request next day only and in all probability the transfer will be done the day after.

2.In online trading there is web based trading and ODIN(Exe.). If you are looking for realtime rates and fast execution of trade orders ODIN is far ahead. In web based trading you can trade from any computer from any where in the world but refreshing rates may be slow and there may be limits to the number of scrips being watched. In Odin you need to install the programme in your computer.

3. I also feel you should give importance to the stability of trading platform. Right in the middle of trading you certainly do not want any breakdowns.

4. Brokerage. Again it depends and vary on what type of trading you do. For intraday trades it is usually between .03 to .05% (One leg) plus other charges and taxes. Brokerage also varies on the volume of trades you do. There are some brokers who want a minimum amount of brokerage per month to avail the ODIN facility. For example geogit requires you to commit RS 3000/- per month in brokerage for use of ODIN facility(Gold Plan). For their Silver plan which is web based it is only Rs 500/- month. But then their ODIN is just like a brokers terminal. For delivery trades the brokerage will be higher. But then all this depends on your negotiation skills.

5.There is a thread in this forum " Brokers & Demat Matters" which has lot of information contributed by forum members. Reading through this thread should give you valuable information regarding brokers.

But then as mentioned earlier first try to understand what trading is about , what are the tools and resources required for the trading sucessfully and profitably and what type of trading suits you. Say for example how are you going to choose a scrip to trade on your own unless you have acess to a paid service.

My advice will be to learn the art and methods of trading on your own with the help of a good Technical Analysis programme if you plan to trade for longer time. And you better get that insight as deep as possible before you start trading. From my experience i can tell you this requires a lot of effort and is highly interesting and rewarding. To me this is almost like a second career other than my professional job. Any way goodluck on your adventure and you can be assured the members of this forum are very helpful.

Regards


Saji Oommen

thanks Saji

Hey Saji
Thankyou so much for the prompt reply, and valuable advice.

regards
Sonia

Re: thanks Saji

hi sonia,

As you must have already got a good overview of the various things from Mr saji and the way he explained was brillantly simple.

I am working with indiabulls as RM and i can help you to open a Dmat+trading a/c with indiabulls with all the online feature as mentioned by saji with the best brokerage offer.If you are interested, then u can mail me at [email protected] so that i can send u details about the various products offered by indiabulls and the advantages of trading with indiabulls and why and how you can get a best brokerage offer from us.

Regards
Mohammed Bin Haid

Hello Sonia,

Glad to know you are happy with the inputs recieved. Trust it will be useful to you. Should you require any more information you can post to the forum. Some one here will always help and guide.

By the way i saw a reply to your query by Mr.Mohammed Bin Haid of India bulls. A few weeks earlier I too was looking for another Online broker from my present one. I came across Mohammed Bin Haid from this forum and found him very helpful.

Since i was based in Kerala and the nearest indiabulls office was far away from my local place he had offered me and my friend help to open an online account with indiabulls on my request to him. He had promptly replied to my queries and even offered us reasonable brokerage and other conditions. I do not know him personally but he mentioned he is from Hyderabad.

Moreover i was very impressed by his prompt updates and firefighting tatics when Indiabulls was in the all India screen recently.He did a very good job. I think he will be one relationship manager who may not trouble you much.

So myself and friend have decided to go along with Indiabulls because of his good service and also on the good terms and conditions offered. We are in the process of filling up the application forms. Of course he may quit India bulls later on for better opportunities. But that is another day and another problem.

We also choose indiabulls because we felt they have a sound platform in their ODIN. Moreover if you want to use a real time TA programme like Amibroker you can use Indiabulls data to get the real time quotes into Amibroker.


Regards

Saji Oommen

Dear Saji,

Thank you for all your praise and appreciation..i will try my level best to stand to your expectaions.Thanks a lot once again.

Regards
Mohammed Bin Haid

Hi ppl,
I joined this forum yesterday. I'm a newbie too. I found this thread interesting & informative. I would like some advice on selecting a dp & online broker for my following requirements:

1. I intend to invest mainly for the long term. Hence, intraday & related trades are likely to be occasional (rare & not on my priority list).
2. I should be able to place orders for buying/selling after trading hours (almost all my investments are likely to be during evenings/nights).
3. I should like to be able to invest in Mutual Funds also through my online broker & get it into my demat account.
4. My investing pattern would be a systematic, disciplined one (nearly a fixed amount per month, with a small part for speculative investing).
5. Most importantly, I should be able to invest at the comfort of my home. (Yes, my Internet connectivity is good enough).
6. My trading volumes wouldn't be high.

It would be helpful if any of you could suggest a DP & online broker for my above needs. Looking for some guidance in this regard. Thanks in advance.

Hello!!
im too hunting for a broker giving a good online trading platform....pls help me out friends!! should i go fo indiabulls or sharekhan or 5paisa since i hv shortlisted these 3. also can i get power indiabulls app frm an existing IB customer rather than shelling out 750bucks for it? 5paisa gives free software.........
bbye!

hi satej,

You need to activate your PIB account for access of the client version of the software of indiabulls.you cant access you account till then from any place even it is installed on your computer.5paise might giive you software for free but it has some disadvantages as compared to indiabulls software which is quite good and got more features as compared to others software in the market.If you want to know more about the indiabulls software and its brokerage offer, then you can mail me at [email protected]

regards
mohammed bin haid