Nowdays in this internet aget of 2012, all stock brokers have similar technological(computers, maintainance, personel etc) costs, Yet they charge from varies 0.30 to 0.97% for each transaction. Why?
Now how is broker's cost different on executing Rs 1000 or Rs 100,000 trade? Why? I can understand difference betn executing 100 shares vs 10,000 number of shares, but transaction amount?
Now worst part is, I do all the research about company, speculate, take risk, buy stock worth say Rs 20,000. I watch it vigilantly, grows to 30,000. Now broker charges transaction fee on 30,000 when I sell. WHY is broker eating my hard earned profit of Rs 10,000?? Broker is not managing my stock like mutual fund, right?
It is high time for demanding flat brokerage charge per transaction...Should write to SEBI or other authorities...
Thanks
Now how is broker's cost different on executing Rs 1000 or Rs 100,000 trade? Why? I can understand difference betn executing 100 shares vs 10,000 number of shares, but transaction amount?
Now worst part is, I do all the research about company, speculate, take risk, buy stock worth say Rs 20,000. I watch it vigilantly, grows to 30,000. Now broker charges transaction fee on 30,000 when I sell. WHY is broker eating my hard earned profit of Rs 10,000?? Broker is not managing my stock like mutual fund, right?
It is high time for demanding flat brokerage charge per transaction...Should write to SEBI or other authorities...
Thanks