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Who is paying lowest brokerage????

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  #1  
Old 1st October 2006, 08:52 PM
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Default Who is paying lowest brokerage????

Let us find out who is paying lowest brokerage and whether he can help others to have similar brokerage.

Ok I will start. I am paying a brokerage of 0.015% in F&O and Intraday equity on both sides with 5paisa.com. They charge 0.17% in delivery. My efforts to reduce the brokerage to 0.01% and 0.1% are not yet successful.

I have negotiated with halfpaisaonly.com who are charging only 0.005% in F&O and intra day. I am only worried about their credibility. There is no problem of credibility with 5piasa.com as I have been trading thry them for last 3 years and there was no problem except some time server failure.

Regards

P K Kothari



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  #2  
Old 1st October 2006, 10:51 PM
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Default Re: Who is paying lowest brokerage????

0.17% on delivery, is there a volume commitment or monthly charge for getting this low brokerage.

I am using ICICI (I know its sucks) for last 2 years and want to change desperately now. ICICI charges a whopping 0.75% on delivery.

Pl. advise as I need to change broker desparately and urgently, Thanks.
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Old 2nd October 2006, 10:02 AM
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Default Re: Who is paying lowest brokerage????

Dear Mr Kothari,
I too have a trading account with 5 paisa.com till now they are charging me 0.1% on each leg on F & O(they have to refund me a brokerage of Rs6706 which they say will take some time. This is for the brokerage on trade between 18th sept to sept 28th. For first 17 days i.e. 1 sept to 17th sept they have charged 0.1% for each leg and say they cannot reverse as entries already made) and now they have agreed to reduce it to 0.03% on each leg only from 18th sept. Is there any minimum turnover stipulated to you for .015% charge and .17% for delivery? Kindly inform us for our taking up with India infoline.
tks
TRRajagopal
Quote:
Originally Posted by pkkothari View Post
Let us find out who is paying lowest brokerage and whether he can help others to have similar brokerage.

Ok I will start. I am paying a brokerage of 0.015% in F&O and Intraday equity on both sides with 5paisa.com. They charge 0.17% in delivery. My efforts to reduce the brokerage to 0.01% and 0.1% are not yet successful.

I have negotiated with halfpaisaonly.com who are charging only 0.005% in F&O and intra day. I am only worried about their credibility. There is no problem of credibility with 5piasa.com as I have been trading thry them for last 3 years and there was no problem except some time server failure.

Regards

P K Kothari
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  #4  
Old 2nd October 2006, 01:52 PM
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Default Re: Who is paying lowest brokerage????

pLEASE UNDERSTAND , brokerages give u low brokerages , but there are usually many hidden charges and also monthly volume committments
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Old 2nd October 2006, 08:45 PM
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Default Re: Who is paying lowest brokerage????

Dear friends:

Yes, although there is no monthly committment with 5paisa.com, but I have slightly high F&O volume i.e. apprx 4-5 trades in F&O on average every day. It is apprx Rs 25 Lacs to Rs 50 Lacs per day. I don't know whether this is a high volume? There is absolutely no intererention or trading by any Relationship manager as alleged in Indiabulls.

I have taken annual package of Rs 7999 which is adjusted in your brokerage. This happens in first or second month itself.

They are also charging transaction charges of 0.008%. As per halfpaisaonly.com, this should be 0.006%. Payout takes min 2 days, but without any problem. Money is transferred in your account.

I was also paying 0.05% brokerage initially, which reduced to 0.03% and finally to 0.015%. Now, they are offering 0.0125% against my demand of 0.01%. Negotiations are still on. I will let you know whenever finalised. Menawhile, halfapaisa has agreed to charge 0.005% with 0.006% transaction which is extremely attractive. I am planning to open my account with halfpaisa which has already sent application form. Any suggestionon halfpaisa.

Regards.

P K Kothari
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  #6  
Old 2nd October 2006, 09:39 PM
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Default Re: Who is paying lowest brokerage????

WOW 25 lacs to 50 lacs PER DAY!!! Thats huge volume, u must be mighty rich Mr. Kothari...

I dont even do trade of 1 Lac per month and I am paying brokerage of 0.75% delivery to ICICI. Do u have any suggestions for a brokerage house for me, plz advice. Thanks!
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Old 3rd October 2006, 01:11 AM
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Default Re: Who is paying lowest brokerage????

Hi PK ,

How much leverage ( margin limit ) does India Infoline provide for your intra-day trades ?

best rgds
T7
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Old 3rd October 2006, 09:12 AM
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Default Re: Who is paying lowest brokerage????

No, I am not mighty rich. I am also a normal PSU employee. If one buy one future and sell on the same day, volume becomes Rs 6-7 Lacs. If you trade 4-5 futures, volume increases to Rs 25-30 Lacs. I don't think this is a high volume.

As far as economics goes, suppose you buy one future of sterlite @ Rs440 and sell at Rs 442, then your profit is:

Rs 442-440= 2 * 875= 1750 Less brokerage

Brokerage Service Tax STT Trn C TOTAL Buy 0.015% 0.00184% 0.0000% 0.0080% 0.02484%
Sell 0.015% 0.00184% 0.0170% 0.0080% 0.04184%
Total 0.03% 0.00367% 0.01700%0.01600%0.06667%

Total expenses: .0006667*441*875=Rs 257.26
Net Profit: 1750-257.26= 1492.74

However, you should buy the future only when you are in a position to take delivery if price goes down or fix a stop loss.

Everyday, sterlite moves in a range of Rs 10-15, therefore, you can trade easily for 3-4 transactions and make Rs 4000-6000 per day.

As far margin is concenred, I have never checked, since I keep sufficient cash and shares in my account and never go for margin trading as any overnight debit attract 18% interest by indiainfoline.

I hope I have replied to queries raised.

Regards.
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Old 3rd January 2007, 08:05 PM
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Default Re: Who is paying lowest brokerage????

Friends,
Why are you stuck with some money sucking brokerage houses?
You know what, Reliance Capital Ltd. has launched its brok house
Reliance Money. Its charging a paltry brok of Rs. 2500/-(2k 5h only) for 6cr (intraday) and for 60lakh delivery. Moreover they do not charge any service tax. They rather have a prepaid brok system in slabs of 500, 1500, 2500.
This is really cool. But the only flaw may be that they do not have a
software but rather a java web based realtime terminal. This is as good as it gets.
P.S. - I am a client and not a franchisee or employee.
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Old 3rd January 2007, 08:31 PM
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Thumbs up Re: Who is paying lowest brokerage????

haii
i am trading with indiabulls my brokerage is .02 and .2 for intrday&fand o and delivery.(my account size was only 7000 thn)
there is rkglobal.net who r considered to giv lowest brokerage its rs1000/month irrespective of volume.
religere is giving .02
kotak mahenddra is .18 % or rs 9 for 50000 i think
angram broking is also giving .02 not sure
i applied for reliance 20 days back and no reply .

anybody hav any experience with rkglobal.net pls share

kurian joseph


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