My experience with Angel so far has been mixed. So far there has been no hidden charges etc. But one thing really puts me down. When there is not sufficient cash balance in any segment orders get cancelled, even if you have good stock balances in holding. So what you have to do is transfer funds, call up the dealer and he will then open the margin. In other words like IIFL they do not include holding for balances. Also customer service (non - Mumbai area) is not of the greatest quality or responsive. Hence I opened my new account with SHRIRAM INSIGHT. Good thing with Shriram is their charges are very transparent. You can find the details following the link below.
http://www.shriraminsight.com/ServiceChargesFromAug2010.aspx
For your brokerage you will have to negotiate as always. I got it at 10p delivery by giving them my Angel contract note.But I have never seen a broker so open and publish their charges.
Its a delight for people like me who travel and stay overseas a lot and donot (unless absolutely required) want to call up the dealer or broker. The charges are even lower in Shriram if you trade online as there is no AMC etc. So far my little interaction with the customer center has been good. I can easily change my password in minutes via email (possible in Angel too) or get started on trading by quickly transferring funds (no need to call). I could also trade without transferring funds by just calling and requesting the dealer to increase my margin which Angel will not do at least for my branch. Also another advantage for me is Shriram is headquartered in Kolkata and they have lot of branches in the city.
So far so good. I intend to consolidate my stocks floating in HDFC SEC, PRABHUDAS and IIFL to Shriram. Probably will hold on to Angel for some more months as its brokerage is cheap for me inspite of just one problem. Also I believe they (and shriram) are investing in IT like IIFL did months ago.
http://www.shriraminsight.com/ServiceChargesFromAug2010.aspx
For your brokerage you will have to negotiate as always. I got it at 10p delivery by giving them my Angel contract note.But I have never seen a broker so open and publish their charges.
Its a delight for people like me who travel and stay overseas a lot and donot (unless absolutely required) want to call up the dealer or broker. The charges are even lower in Shriram if you trade online as there is no AMC etc. So far my little interaction with the customer center has been good. I can easily change my password in minutes via email (possible in Angel too) or get started on trading by quickly transferring funds (no need to call). I could also trade without transferring funds by just calling and requesting the dealer to increase my margin which Angel will not do at least for my branch. Also another advantage for me is Shriram is headquartered in Kolkata and they have lot of branches in the city.
So far so good. I intend to consolidate my stocks floating in HDFC SEC, PRABHUDAS and IIFL to Shriram. Probably will hold on to Angel for some more months as its brokerage is cheap for me inspite of just one problem. Also I believe they (and shriram) are investing in IT like IIFL did months ago.