Confused - Sharekhan vs Icicidirect vs Hdfc vs Kotak vs Indiabulls vs 5paise

Discussion in 'Brokers & Trading Platforms' started by sunandoghosh, Apr 21, 2005.

?

which online broker u prefer and why - chose one

  1. 5paise

    12.4%
  2. sharekhan

    25.2%
  3. motilaloswal

    4.3%
  4. icicidirect

    17.7%
  5. hdfc

    4.7%
  6. indiabulls

    11.1%
  7. kotak

    6.3%
  8. any other(mentiona name)

    18.3%
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  1. sunandoghosh

    sunandoghosh Member

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    :confused:

    It is today only that i found this wonderful forum and words cannot simply explain the joy......

    First of my utmost regrads to administrator and second to all wonderful people here...

    this is the true example of informed decision making in true sense of term....

    Now coming to main topic of the day...

    Its form last few months that I have gained very much interest in stock markets (and CNBC Tv18 has to be given credit for that atleast in part)...

    so eventually i decided to take the plunge...

    but chhosing the online broker is really tough for a novice like me who has heard a lot but has never actually traded himself really.....

    I have taken demo of sharekhan; 5piase and icicidirect..... so far

    5paise is not affordable to me as minimum 800 rs per month has to be paid by me which is not suitabel for me as a beginner as i am yet to learn the basics well to really invest heavily....

    sharekhan seems nice but then they no BSE trading (i hope i am not wrong)

    and icicidirect has very high brokerage charges and the bad reputation in reality as is evident here....

    about indiabulls as fas as i have understood we need to pay to purchase software and about kotak i have no idea..............

    I would like all the great people here to share thei wisdom in helping me to start out which service should i opt for u...........

    hopefully once i learn the basics then only i will be able to contibute meaningfully to discussions here but now it seems i need more help.......

    thanks and regards,

    sunando

    ---------------------

    plz dont just say which service to opt without justifying as to why u think it should be opted.......thank u :) :) :p

    xxxxxxxxxxxxx
     
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  2. sh50

    sh50 Active Member

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  3. sunandoghosh

    sunandoghosh Member

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    hi sh50...thank u very much

    yes based on what i have read here and mouthshut, icici has to be avoided but u know what had i not read these two forums i was almost convinced to go for them due to their infrastructure, being an indian Bank, solid goodwill overall as such and the general hype........................................

    But i was really surprised that even being such a reputable bank and charging the highest brokerages they are offering services whcih clearly jeopardizes their goodwill and client retention and further acquisition.............

    As fas as 5paise goes, i cannot go for it as i dont want any monthly minimum commitment of rs800..........(otherwise i would have gone for them except for this reason)

    Well Indiabulls again have to have one time charge of software (so will chhose only when no options)...........

    I am then left with HDFC, kotak and sharekhan which is a tough choice.........

    any comments, opinions, suggestions, criticisms more than welcome.........

    when u say investmartindia is going to tie up with etrade i believe u r saying for the fact that it gives access to global markets right through etarde----is that the benfit ur trying to say.......

    one more thing certain feature like - adding signature; making PMs; instant email notification to subscribed threads are clearly missing...............or i am unable to access or what................ :(



    thanks :)

    xxxxxxxxxx
     
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  4. sunandoghosh

    sunandoghosh Member

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    also just one more thing is it thatwhen we post it takes i believe 10-15 minutes before actually the post gets displayed in forum.........(its strange as i have never encountered on any forum this delay feature) or that its happening with meeeeeeeeee........

    also apart from traderji and mouthshut, has anyone any idea to more resources or forum of similar nature in indian context...........

    thank u again :D
     
  5. gvnarendra

    gvnarendra Member

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    Dear Sunandoghosh,
    I am using India bulls trading facility. I find it is very easy to handle the interface and the brokerage is also very competitive. Their interface which runs on Java is very fast even in slow connections also. If you want any other information regarding Indiabulls you can ask me.
    Thank you
    gvnarendra
     
  6. sunandoghosh

    sunandoghosh Member

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    hi gvnarendra,

    thank u for ur helpful reply,

    "brokerage is also very competitive"

    Can u please specify what exactly is the brokerage and also what other costs are involved (especially hidden which are not apparent to a novice by mere glance or primafacie)

    "Their interface which runs on Java is very fast even in slow connections also."

    This would be really a great feature and most desired. I hope u use ur home PC with normal connection and single P4 processor...

    "If you want any other information regarding Indiabulls you can ask me."

    1. do they allow trading in BSE also online?

    2. I think we need to purchase some software from them...is it a one time fee or recurring fee and is that software absolutely necessary...and what exactly is the cost

    this is because sharekhan which looks almost comparable has no necessity to purchase any software and also unlike 5paise there is no need of any minimum monthly brokerage commitment of rs 800...

    this possibly makes sharekhan most competitive...

    but then today i tried to log on to sharekhan site with the username and password which the person who came to give demo provided but the site login was inaccessible for half an hour...(and yes i did login in trading time)

    and after half an hour when i was able to log in(site accessible) the page did not open saying "java applet loading failed" (but i have JVM on my pc and also all other java based applications are opening execpt sharekhan one)......... :confused: yet to figure out

    please provide ur valuable insight :)
     

  7. gvnarendra

    gvnarendra Member

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    Hi Sunandoghosh ,
    1. The brokerage Indiabulls charge is-
    For futures & options they charge .03% each side + taxes. For opening an account I had paid Rs 1200/=. (I had opened the a/c long back. Their a/c opening fee may have been varied. Please enquire in Indiabulls.) I mostly trade in Index futures.
    2. I use a laptop having AMD processor which is very fast and have a reliance mobile for internet connections so that I can be connected anywhere
    where there is reliance network.
    3.
    a.They do not have the facility to trade in BSE, online.
    b. For the software (Power Indiabulls) I had not paid any extra ammount apart from one time fee paid at the time of opening the a/c.
    c. Prior to opening an a/c with Indiabulls I had Sharekhans. Comparatively Indiabulls charges are very less at that time. So I shifted to Indiabulls. I had not faced any login problems in Sharekhan or Indiabulls. Only thing is you should have a broad band internet connection. I think one should have a broad band connections for trading activity [ which involves your hard earned money and also in slow connections if you give orders by the time your order reaches the providers server the price which you have quoted may have been outdated since market fluctuates very rapidly] since the cost of using broad band has come down considerably and also very easy to get it .

    Hope I have answered all your queries. If you need any further clarification you can ask me.
    gvnarendra.
     
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  8. sunandoghosh

    sunandoghosh Member

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    I called them one hour back only in Kolkata office...its still 1200/-

    250/- a/c opening charge
    200/- demat opening charge
    750/- software

    -----
    1200/- one time ;)
    ----

    i have heard that reliance internet costs 1500 monthly fixed and that too it does not work very fast during peak times.....just my thought...

    i actually since to date all i have gathered is nothing but theoreticla information without truly having traded my self even a single rupee....so i guess right now and few months i am only concerned with delivery based trades which most probably comes to ........ .50% in india bulls if i am right...

    i asked the person at indiabulls he said he will consider reducing the brokerage...but i said him that i am along term investor and not a day trader so cannot commit any turnover....but inspite of my repeated question as to what brokerage he will apply he kept on saying "aap chinta maat kariye brokerage apko thik lagedege...." but whatever it cannot be for sure more than .......... .50%

    now my one major q is that say after opening an accoutn with them...i do not trade (say i decide no more stock market for me) but i wish to have my account continued with them but trade very very sparingly...say purchased 1000 shares and almost forgotten for a year....then do they levy any additional charges for almost being INACTIVE....

    regarding the processor let me figure out what i have i think mine is p4 but let me confirm...and yes i use cable internet dont know whether it can be called broadband...bcz once i asked my cable operator what is the speed of cable internet they provide and he said he will confirm ....so i guess he never knew it either....

    can i know how can i get a very fast broadband connection (must be affordable i dont mind shelling out extra few hundreds) in kolkata...i mean which company should i contact..........

    and yes one more thing do India bulls provide any advice tips when we open the trading screen....(preferably free of charge)

    I guess if everything is on track and no new information comes in way....i am going for indiabulls.....

    and yes is it possible to transfer existing demat account with someone else to indiabulls so that rs 200 is saved....

    i hope that atleast indiabulls powersoftware enables real time live streaming quotes and enables execution of order without delays....

    and yes i must thank u again and again for taking ur time and replying...its really appreciated....hopefully in a few days time i can also relate my unique experiences of trading here...

    best regards,

    sunando
    ----------------------------------------------------
    u can always email me at xxxxxxxxxxxxx
     
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  9. gvnarendra

    gvnarendra Member

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    1. There are different tariff plans for Reliance mobile internet charges. One is Rs 1500/= a month for unlimited usage. Another plan I use is Rs 650/= per month which enables us to use 1 gb of downloads free and after 1 gb you have to give Rs 3 or 4 per mb usage. If you use the online trading platform you may use at the most 500 mb which is well within the range of 1 gb.
    2. Regarding the non usage of your a/c with Indiabulls after opening your a/c
    I have not enquired. You please enquire with them.
    3. I think the cable which you asked in your query is O.K. But ask the provider whether they can provide uninterrpted connection.
    4. You can not transfer the demat a/c to another a/c. But you can open a different a/c with Indiabulls and you can transfer your shares to your new a/c. On the contrary you need not open any new demat a/c. You can request them to connect your existing demat a/c with Indiabulls trading a/c.
    5. I am not from Kolkata. I am from South.
    gvnarendra
     
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  10. sunandoghosh

    sunandoghosh Member

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    Hi gvnarendra :)

    Thanks once again for ur detailed and prompt reply... :p

    Finally i have decided:

    choice no. 1 indiabulls
    choice no. 2 sharekhan

    The only reason for going for indiabulls is that i think i will be able to use their powersoftware (which involves ONE time payment only) which i believe has a very good interface and is able to provide realtime live streaming quotes and orders hopefully can be executed without any delay....(Plz confirm am i right when i write this statement and am i realistic in my expectations about their powersoftware)

    The second choice seems to be sharekhan since i have to pay only rs 750 initially which is fully adjustable againts brokerage within 3 months...but then to utilize benefit of speedtrade or speedtrade plus; minimum turnover requirements are there and i cannot commit that; and i dont want to go for classic basic account where i believe speed may be comprmised.
    (correct me again if i am wrong)

    ICICI direct ruled out due to so much bad public reputation.....

    5paise also ruled out as it involves a minimum fixed RECURRING monthly commitment of rs800....

    So finally before i exercise my choice i would like that if anyone wishes to add their final comments, opinions, suggestions, etc...please do so.........................................

    Thank u very very much.............................

    Sunando
    ----------------------------
    U can always email me at xxxxxxxxxxx
     
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