Angel broking: Cheap brokerage and excellent service.

[VijayDT]

Well, first explanation I've heard for minimum-contract-note, which has exhibited any amount of reasonableness :thumb: but I suppose the same is already being accomplished to a degree, by having higher brokerage-rates for low-volume-traders anyway......... but still, what you've said is definitely something worth pondering over. Thanks

In short, just to draw a parallel to my explanation on the benefits of brokerages charging the right brokerage to everyone with our country....I believe India is suffering due to two counts. One is subsidies and another is corruption. If everyone pays their respective dues than our country would be a better place to live in...unfortunately there are lots of services and goods, which gets subsidized at the cost of better service, better country to the deserving ones who has always paid their dues.
Regards,VDT

 

[jain.er]

By the way today i forced my broker to remove this min brokerage per contract thing from my account ...........YAHOOO.....

 

[Newbie Day-Trader]

In short, just to draw a parallel to my explanation on the benefits of brokerages charging the right brokerage to everyone with our country....I believe India is suffering due to two counts. One is subsidies and another is corruption. If everyone pays their respective dues than our country would be a better place to live in...unfortunately there are lots of services and goods, which gets subsidized at the cost of better service, better country to the deserving ones who has always paid their dues.
Regards,VDT

Well said, I agree socialist/communist subsidization-mentality has been a big problem but people only focus on corruption. Come to think of it, it was subsidization & protectionist mentality that kept India down until 1990s & when finally the grip was loosened & markets & freedom were allowed to work their magic, it bore the "India-growth-story". I agree, everything has a certain price & subsidization-mentality only succeeds in bringing the quality down for EVERYONE. :thumb:

By the way today i forced my broker to remove this min brokerage per contract thing from my account ...........YAHOOO.....

Well done ....... this is the other side of the markets........too many people too often forget that BARGAINING & markets go hand in hand & think that just because the package says Rs.X, they must pay that much & if they bargain then they're cheap or something but that's far from the case because in any market, buyers wish to buy at the lowest possible price while sellers want to sell at the highest possible price & that's the most NATURAL thing in the markets.......so nothing wrong with you bargaining with your to get rid of the minimum-contract-note clause & I guess he didn't want to lose you as a customer so he yielded.....well done :thumb:

 

[VijayDT]

By the way today i forced my broker to remove this min brokerage per contract thing from my account ...........YAHOOO.....

Well, if he has done selectively based on your business....,then it is good..and anyways you would have been paying higher than the minimum I guess. However, god forbid if he does this for everyone, then be ready to negotiate for better service.. (my experience...) anyways congratulations for getting a good deal.
Regards,
VDT

 

[Newbie Day-Trader]

@ VijayDT, Sham Share Singh (or anyone else wishing to contribute)

What'd be the average-daily/monthly turnover required to secure a brokerage of 0.005% (Rs.5/lac) or EVEN LOWER like 0.001%? I think I'd read somewhere in this thread earlier that Angel had offered 0.001% for a daily-turnover of 25-30 lacs

And, if you can, could you please list down ALL the charges incurred when trading commodities (& currencies) with Angel? It helps conservative day-traders like me to design my strategies because every paisa of cost matters as that shifts the break-even around

What'll be the margins required for commodities (& currencies)? Will it be lower than SPAN for intraday? If so, roughly what % of SPAN? How much for holding positions overnight?

Thanks.

 

[Tejpal Rathore]

@ VijayDT, Sham Share Singh (or anyone else wishing to contribute)

What'd be the average-daily/monthly turnover required to secure a brokerage of 0.005% (Rs.5/lac) or EVEN LOWER like 0.001%? I think I'd read somewhere in this thread earlier that Angel had offered 0.001% for a daily-turnover of 25-30 lacs

And, if you can, could you please list down ALL the charges incurred when trading commodities (& currencies) with Angel? It helps conservative day-traders like me to design my strategies because every paisa of cost matters as that shifts the break-even around

What'll be the margins required for commodities (& currencies)? Will it be lower than SPAN for intraday? If so, roughly what % of SPAN? How much for holding positions overnight?

Thanks.

Hi Newbie, brokerage slab will be purely business call. You can visit any of the branches and speak with them about the charges

 

[Newbie Day-Trader]

Hi Newbie, brokerage slab will be purely business call. You can visit any of the branches and speak with them about the charges

Well, I understand that you don't have fixed brokerage-slabs but there must be some rough criteria, right? I mean I don't think you're going to offer 0.005% or 0.001% to a person who doesn't generate much volume, so you could at least give me some rough idea about the range of daily/monthly turnover required

About the charges, I found this - http://www.angelbroking.com/pdf/Levies-&-Charges.pdf but it only mentions Transaction-Charges & ST for commodities, is that all? I couldn't find any mention of the opening-charges & other charges on your website (kindly provide the links if I've missed it). Even though the brokerage will vary from one customer to another, I suppose these charges will be same for everyone so you could mention them here so that even other members could benefit from the information, in case they're also considering Angel, I'm sure such transparency will be highly appreciated by everyone

Even the margins may vary depending on varying market-risk & your Risk-Management-Strategy but you could at least mention whether you'll stick to MCX-margins for intraday & overnight or whether you'll allow us to trade for less than MCX-margin in intraday, etc

I've also heard & read that you take many days for the payout even though you've tie-ups with banks, & even that is done by cheques instead of an instant-transfer back to the bank

Of course, your local branch could answer all of this but the purpose of posting here is to add to everyone's knowledge. Thanks

 

[Jitendra Suhalka]

Well, I understand that you don't have fixed brokerage-slabs but there must be some rough criteria, right? I mean I don't think you're going to offer 0.005% or 0.001% to a person who doesn't generate much volume, so you could at least give me some rough idea about the range of daily/monthly turnover required

About the charges, I found this - http://www.angelbroking.com/pdf/Levies-&-Charges.pdf but it only mentions Transaction-Charges & ST for commodities, is that all? I couldn't find any mention of the opening-charges & other charges on your website (kindly provide the links if I've missed it). Even though the brokerage will vary from one customer to another, I suppose these charges will be same for everyone so you could mention them here so that even other members could benefit from the information, in case they're also considering Angel, I'm sure such transparency will be highly appreciated by everyone

Even the margins may vary depending on varying market-risk & your Risk-Management-Strategy but you could at least mention whether you'll stick to MCX-margins for intraday & overnight or whether you'll allow us to trade for less than MCX-margin in intraday, etc

I've also heard & read that you take many days for the payout even though you've tie-ups with banks, & even that is done by cheques instead of an instant-transfer back to the bank

Of course, your local branch could answer all of this but the purpose of posting here is to add to everyone's knowledge. Thanks

Hi, the charges will be same for all the clients. Yes I also agree that he margins may vary depending on varying market-risk & Risk-Management-Strategy. I think you can call at their customer care department for acquiring the info which is required by you

 

[rockgrvg]

Hi today i fill with form for opening commodity account in angel commodity .
After Negotiation they offered .01% in 15,000/- as margin money . & promised me they will reduce it futher if my volumes go high . okkk i gave them cheque of 15,000/- & i will get my user id in 5-10 days

I am Newbie in Equity & commdoties . 1 month ago i opened my First equity account in Venture ,,its a prepaid plan of 3500/- Rs with .03 intra(one leg) & .20 delivery .
Venture service is ok ...its cheap but still i'm not totally satisfied with venture so i decided to open account in angel but for brokege rate like venura they r asking me to pay 50000/- as margin money ,,so i delayed it to next month

After negotation angel RM offered me .02(both leg) intra & .20 delivery.for this i have to pay 35,000/- as a margin money.they also promised me to futher decrease my brokege if my volume r quite high .I asked them to take cheque at the mid of December.

The thing i dont like in angel is they r charging 30 rs minimum in a trade day & .03 minimum brokege for a share unlike in venture there r no such conditions.

What do u all think do i Get a best deal or i have to negotiate more,,,do i best in commidity ???

 

[Rupesh.Mohanty]

You can not trust Angle Broking.They do lot of Unauthorised trading by offering cheap brokorage. I am victim their malicious trade practice.