Angel broking: Cheap brokerage and excellent service.

Discussion in 'Brokers & Trading Platforms' started by mintu_millionaire, Aug 5, 2009.

  1. mintu_millionaire

    mintu_millionaire Active Member

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    PALS, i've started this thread as i could'nt find a seperate thread on ANGEL BROKING, i am trading with this broker for the past two months and its really good. However to be doubly sure i would request existing angel customers to post their views. As i mentioned that i am already trading with them so here are my experiences.

    1: DIET ODIN: undoubtedly best trading software and they provide it for free even better than power indiabulls as it is fully customiable, the only prob with power indiabulls is automatically gets locked after one hour.

    2: CHEAP BROKERAGE: while opening the account i convinced them of good volumes and was offered
    intraday cash : .015%
    fno: .015%
    cash: 0.25%
    after two and a half months of trading as my volume was very good these guys further reduced my brokerage to

    intraday cash: 0.010 %
    fno: 0.010 %
    cash delivery: 0.015 %
    Also i didnt had to pay any advance brolerage and i really feel these are really cheap brokerage rates for a broking house whose service is really good.

    3: INTRADAY SQUARE OFF TIMING TILL 3.30,
    this is certainly a huge advantage for day traders, very few brokerage give such opportunity viz sharekhan, ventura. Brokerages like religare, indiabulls have intraday square off time of 3.05

    4: NO RESTRICTION ON STOCKS ON INTRADAY BASIS
    This is the problem i've had with most of the brokers especially india infoline, religare. I am amongst the traders who trade stocks with good momentum and liquidty viz educomp, ivrcl infra, indiabulls real estate, dlf, chambal fertilizers. Brokers like religare, india infoline dont even give four times margin on such stocks.

    5: good margin on intraday basis
    these guys provide me 5 to 6 times margin on all stocks on intraday basis, which is quiet good.

    6: free software ECHOPDA
    This is seperate exe based software offered by them which keeps records of all your transaction. I found this of great help as i automatically calculates the total brokerage , securtiy transaction tax, profit and loss on each security. Also it will be of great help while filing INCOME TAX RETURN as u dont have to waste time on computing STT seperately.
    I've learned from my experienced that keeping good records is of utmost importance for traders. Even master traders like alexander elder considers it the most important trading descipline after your trading system.

    7: Decent derivative reports on open interest , pcr, put call activity. This is quiet useful to study the short term changes in nifty and other fno stocks. Siddharth Bhambre of angel broking one of the best derivative analyst freqquentlly appears on CNBC tv18 programme opening bell. Beside this there are other research reports which are okay.

    So i would request all members to post their views. Beside angel i've mentioned ventura in my earlier post, ventura is cheaper but quiet knew. Also there are brokers like RK global which is quiet cheap but i am still not convinced about them.

    In the end i assure all of you that i am not anyway connected to either of these broking house, I am a independent chartered accountant and a full time trader.
     
    Last edited: Aug 5, 2009
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  2. findvikas

    findvikas Well-Known Member

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    This guy looks even better and has more reputation... So are you happy with the customer care? I never tried ODIN and was extremely happy with KEAT from kotak... anyone know if ODIN is better or can compare with KEAT ???
     
  3. mintu_millionaire

    mintu_millionaire Active Member

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    i havnt used kotak's system , but odin is superb its a product of Financial technologies , and certainly the best trading software
     
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  4. lazytrader

    lazytrader Well-Known Member

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    I have to agree to that. There is nothing that can beat ODIN feature wise. Some other terminals may have a few good features most ODIN triumphs.

    Minutu, good you mentioned that you are in no way associated with Angel because based on your review many would have asked.

    I there you've made a mistake where you have mentioned .015% as delivery brokerage. Is it .15%?

    With Angel there seems to be some problem with charges with demat. here a screenie:
    [​IMG]

    Investors are charged some amount and I don't understand what they mean by (within Angel DP and outside)

    Also looks like there are extra charge levied for the "easiest" service by CDSL which broker doesn't charge and additional Rs.6/txn charged by CDSL transferred to the client by Angel.

    I would be grateful if you give me some details on these by look at your transsactions.

    Can you also tell me how much volume they asked for .015 and .01% intraday brokerage.

    Thanks.
     
  5. Raj133

    Raj133 Member

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    could you please tell me the commodity brokerage in Angel broking

    Thanks in advance
     
  6. findvikas

    findvikas Well-Known Member

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    I am excited about Angel after looking at that... I have to try my hand at ODIN though.
     

  7. mintu_millionaire

    mintu_millionaire Active Member

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    pal,
    u r right delivery brokerage is 0.15%.
    About the demat charges , i've been with these guys for just two and a half months. I just have a trading account with them, i use my religare demat account. Actually these guys suggested me to open just a trading account
    as i was using them for the first time, they charged me just 200 hundred rupess for frankin and stamp charges. Now i am willing to open a demat with them. I'll enquire about the demat and other charges and will post the same. Right now i m stuck with my religare advance brok 15000 account and trust me i regret every second why i am trading with them. I am a day trader and also a investor, religare guys fooled me like anything. If you want i can post for you the complaint i lodged with religare customer care department and trust me nothing was done.
    My only intention is that we must not reward brokers with cheap policies and zero customer support. we as traders are the main source of income for broking houses and we must be served well.
     
  8. lazytrader

    lazytrader Well-Known Member

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    rithikesh and (deleted member) like this.
  9. niranjan44

    niranjan44 New Member

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    I met Angel broker yesterday and he explained me the charges

    Prepaid Vouchers

    1. Rs 2000
    Validiy : 12 Months
    Delivery : 0.30%
    Intraday : 0.03%(each side)
    Futrues : 0.03%(each side)
    Options(nifty) : Rs 50 or 0.50% of premium , higher of two
    Optons(non nifty) : Rs.100 or 0.50% higher of two
    Options(mini nifty) : Rs.30 or 0.50% higher of two

    Terms and Conditions
    1. Rs 500 admin charges will be deducted in Rs.2000 voucher.
    2. Rs.250 admin charges will be deducted in Rs.5000 voucher.
    3. Once applied prepaid amount will not be refunded.
    4. After expiry , clients will be charged normal brokerage rate of 0.03% for intraday and 0.30% for Delivery.
    5. Amount of voucher will be held as deposit and hence will not be available for payouts and daily limits.
    6. Amount of brokerage generated would be released from deposit account on weekly basis for payout.
    7. The brokerage rates mentioned above are not negotiable.

    And there are more vouchers like Rs 5000, Rs. 10000, Rs.25000, Rs. 1L, Rs.2.5L

    2. Rs 5000
    Validiy : 12 Months
    Delivery : 0.25%
    Intraday : 0.025%(each side)
    Futrues : 0.025%(each side)
    Options(nifty) : Rs 50 or 0.50% of premium , higher of two
    Optons(non nifty) : Rs.100 or 0.50% higher of two
    Options(mini nifty) : Rs.30 or 0.50% higher of two

    3. Rs 10,000
    Validiy : 12 Months
    Delivery : 0.20%
    Intraday : 0.02%(each side)
    Futrues : 0.02%(each side)
    Options(nifty) : Rs 40 or 0.30% of premium , higher of two
    Optons(non nifty) : Rs.75 or 0.30% higher of two
    Options(mini nifty) : Rs.30 or 0.30% higher of two

    3. Rs 25,000
    Validiy : 12 Months
    Delivery : 0.20%
    Intraday : 0.015%(each side)
    Futrues : 0.015%(each side)
    Options(nifty) : Rs 30 or 0.25% of premium , higher of two
    Optons(non nifty) : Rs.50 or 0.25% higher of two
    Options(mini nifty) : Rs.30 or 0.25% higher of two

    4. Rs 1,00,000
    Validiy : 6 months
    Delivery : 0.15%
    Intraday : 0.01%(each side)
    Futrues : 0.01%(each side)
    Options(nifty) : Rs 30 or 0.25% of premium , higher of two
    Optons(non nifty) : Rs.50 or 0.25% higher of two
    Options(mini nifty) : Rs.30 or 0.25% higher of two

    5.Rs 2,50,000
    Validiy : 6 months
    Delivery : 0.15%
    Intraday : 0.005%(each side)
    Futrues : 0.005%(each side)
    Options(nifty) : Rs 30 or 0.25% of premium , higher of two
    Optons(non nifty) : Rs.50 or 0.25% higher of two
    Options(mini nifty) : Rs.30 or 0.25% higher of two

    Charges

    Trading account Rs/- 100 per segment(BSE 100 rs, NSE 100rs, NSEFO 100 rs, MCX 100 rs, NCDEX 100 rs), for demat account you will be charged 538 rupees including annual membership charge Rs. 331.08 including service tax payable yearly.
     
    Last edited: Aug 6, 2009
  10. mintu_millionaire

    mintu_millionaire Active Member

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    niranjan,
    i knew about these brokerage schemes, but i did'nt subscribe for any prepaid scheme, i just assured them of good volume and they offered me .015 paisa for fno and intraday, and now they have reduced to .010%. If you are a trader with good volumes, simply visit their branch manager , that what i do whenever i visit any broker. rm's misguides you most of the times. Still no demat with them as i always prefer to keep seperate accounts for short term and long term trading. But i'll be starting demat with them. Dont subs to prepaid schemes with huge advance brokerage, first use the broker for sometime and they make your mind.
     
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