ABN AMRO Retail E Broker

[ramesh wider]

I would like this thread to share information on ABN AMRO retail E broker

 

[ramesh wider]

I am going to write a review and my experience starting from the day i submitt the application to open a 3 in 1 trading account.

 

[rahul_trader]

Good work you have started.

Please carry on with your views regarding your ABN e broker this will through some insight how good they are

waiting for your views.

Regards
Rahul_trader

 

[bslk]

I am going to write a review and my experience starting from the day i submitt the application to open a 3 in 1 trading account.

What are their charges for F&O

Thanks

 

[ramesh wider]

The Link http://www.abnamrobroking.co.in/index.asp

I just called the customer service number for more infomation about opening they give me contact details and the person to contact close to the place where I reside.
I visted the branch and met the person and asked a series of questions and what are the requirements to open a account.

3 to 4 passport photos
3 copies of address proof either ration card or passport
3 copies of pan card
3 copies of singanature proof either you can use drivers licence or same the above passport copy.

I asked about the how many days will it take to get the trading kit they have told me 20days. It is 3 in 1 account with a savings account which is a no frill account with Rs 250 minimum balance always need to be maintained.

Demat opening charges is Rs 600.

Need to intially submitt Rs 5000 minimum in cheque or demand draft on your name which will be credited into you account.

The second question is i asked is Broker fees and charges on intra day and taking delivery it is not published in the website . They told me the charges depends and can be negotiable if youre a heavy trader by value and volume.

So i will write down on next thread about the broker fees.

I had a demo on the office in web base as well as they do have software base trading platform.

They show me both these platform are designed and supported by TCS Tata consutancy services for India and for abroad it is Infosys

 

[ramesh wider]

I am a small trader is use as Rs 50000 to start with so below are the broker charges they offered me.

Cash Segment
Delivery Based Transactions (Overnight) 0.50% (on each side)
Non Delivery Transactions (Intraday) 0.04% (on each side)

STATUTORY CHARGES
Cash Segment - Delivery
STT 0.125% of turnover will be charged on all delivery trades - both legs
Service Tax 12.36% on Brokerage, SEBI turnover fees, Exchange txn charges, stamp duty
Exchange Transaction Charges (for both NSE & BSE) 0.0035% of the Trade Value
Stamp Duty 0.01% of turnover on delivery

Cash Segment - Non Delivery
STT 0.025% of turnover will be charged on sell side of non delivery intraday trades
Service Tax 12.36% on Brokerage, SEBI turnover fees, Exchange txn charges, stamp duty
Exchange Transaction Charges (for both NSE & BSE) 0.0035% of the Trade Value
Stamp Duty 0.002% of turnover on non-delivery based intraday trades

I will write the charges for Derivatives Segment on next thread

 

[ramesh wider]

Broker charges for Derivatives Segment

Futures Transactions (Overnight) 0.08% (on each side)
Futures Transactions (Intraday) 0.04% (on each side)

Options Transactions (Overnight) ((Strike Price + Premium)* Qty * 0.08%) or ((Premium * Qty)*2.5%) whichever is lesser - on each side

Options Transactions (Intraday) ((Strike Price + Premium)* Qty * 0.04%) or ((Premium * Qty)*2.5%) whichever is lesser - on each side


STATUTORY CHARGES
Futures
STT (on sell side) 0.017% (trade price)
Service Tax 12.36% on Brokerage, SEBI turnover fees, Exchange txn charges, stamp duty
Exchange Transaction Charges 0.002% of each side of the transaction
Stamp Duty 0.002% of turnover (incl. expiry also)
SEBI Turnover Fees 0.0002% of total turnover (incl. expiry also)

Options
STT (on sell side) 0.017% ((Strike Price + Premium) * Qty)
Service Tax 12.36% on Brokerage, SEBI turnover fees, Exchange txn charges, stamp duty
Exchange Transaction Charges 0.05%^ on Premium * Qty
Stamp Duty 0.002%^ on Premium * Qty
SEBI Turnover Fees 0.0002%^ (Strike Price + Premium) * Qty

 

[ramesh wider]

Update on the process of my account. After one week I received a SMS on phone about my Saving account number and also received a Pin Number for debit card on postal mail.

The broker charges looks lot of things need to be calculated yes most of you they look on the delivery and intra day charges but they dont know the statutory charges involved in each and every transaction. I like to read the fine print in detail and not to skip.

 

[anjanr]

costly when compared to other

 

[chintan786]

hi ramesh, I also contacted ABN AMRO bank, the following things they had told me regarding Brokerage and banking....

1) Account opening charges Rs.800 now onwards.

2) 3-in-1 Trading Account. Zero balance Bank Account.Rs 200 for Debit card.U can use this on any bank's ATM for Withdrawl only but not for Balance Enquiry.

3) Brokerage as u said it is same.But they will check my volume. If delivery have Rs 50,000 then they will reduce my Brokerage to 0.025. Rs 50,000 delivery is nothing( this is wht I fill).

the question which i want to ask u...

1. I have internet connection of 64kbps. Is their terminal runs fine on it.

2. WHEn i transfer funds from saving account to trading account is there any problem.

3. i am kind of person who some time trade havily and some time don't touch demat account for 5-6 months. Is the agency is reliable?

4. when fund trasnfer is good or not.

5. right now i am using IDBI. where when I transfer funds from saving account to trading account... then only Lien is marked on the funds and funds are debited only when trade is not square off( means delivery is taken).

whether my funds reamin in trading account or savings account i still can receive interest .

any new thing u want to share ....... then plz.


chintan