Freinds,
There are many online brokers but the best are sharekhan & indiabulls.
Both these firms, sharekhan have some merits and demerits over each other. So I am not in a position to say out of this duo who is number one.
However, I will tell you their merits and demerits, as well as the reason why I rate them the best. You then decide who is the number one.
I just dont consider the brokerage rates. Apart from brokerage rates I consider the offline trading facility, the way offline orders are routed and the most important is control over my own funds and time it takes to withdraw.
Indiabulls provide you an applocation based trading at a brokerage rate of just 3paisa and 20 paisa, intraday & delivery. This is the negotiated brokerage without any volumes comittment. There are no recurring expenses , no mothly charges ,nothing.
Sharekhans default brokerage is also same that of indiabulls. They also offer you a brokerage rate of 3 paisa and 20 paisa but they definetly need volumes, also if you go for application based terminal you have to loose ur pocket extra.There are recurring expenses with sharekhan. So definetly here I feel indiabulls is better than sharekhan.
Offline Orders,
At indiabulls you have to depend on your RM for offline orders. One same person all the time.You have to call this same person each and everytime. This is somewhat troublesome.Calling a particular person each and everytime is irritating...just imagine somebody calling u each and every hour......and there are some 30 persons like this !!!
Due to constant calling ur RM ay get irritated and may response you well. Sometimes he will not respond to ur call , also incase if ur relations with RM are not good then also there is some problem.
Sharekhan has a dedicated call & dial facility. Here you call and everytime an another person attends ur call. It is like a typical call centre like that of icici bank, reliance mobile etc.
You have to call their dial and trade number, enter the TPIN and trade thats all. Coz of the dial & trade facility of sharekhan, offline trading is very very smooth at sharekhan and also hassle free. Indiabulls should follow sharekhan here. Thus offline trading and routing of offline orders is better in sharekhan than indiabulls.
Withdrawing money,
Both these firms offer fast withdrawal system
Customer service,
Indiabulls i have personally observed that they are very very good at service. All the problems of clinets are disposed off very very soon.
Sharekhan, also good service.
From this we can say that if indiabulls also start offering dial and trade facility like sharekhan then it will be number 1 broker.