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

[rubin_stocks]

Hi i am a arbitraguer working with religare and i pay 10 paise delievery and 1 paise fno sure my volumes are very high and for arbitraguers brokerage is also charged less but i think for traders and investors 20 paise delievery and 2paise is the norm and can be reduced to 15 paise and 1.5 paise if volumes are high

 

[ratan jain]

Hi ,

I want to know how is Anand Rathi compared to thses brokers

Anyone using their execution platform?
For day trading?
How is the speed and reliability?

 

[av1976]

Hi,

I would be grateful if some one help to mail me a best online trading provider to invest in stocks , MF , IPO and commodities as Non resident Indian investor.

I am working in UK for last 2 yaers and I am not peremanant resident of UK.

I am only looking for long term invetments.

expecting your reply

regards
AV

 

[Ajaymishrak]

avoid ICICI

I dont know about other but avoid I direct. Here is my expereince with them.

I had heard that in spite of high brokerage, service of icici direct is bad. However I decided to open an account with them only because of lack of a better option. What happened after that was totally
unexpected even from their notorious customer service.

I do not trust sales agents of any bank. So, I took the trouble of going to the icici direct center near BSE in fort, Mumbai and submitted my application form there around 15th may. I was told by a smiling (financially illiterate) executive that account would surely be opened within 15 days. However, I knew that I should get a confirmation call from the bank before the account is opened. So when I did not receive any call within one week I called the salesman and he again cheerfully assured me that I would get a confirmation call soon. After another one week I called him again. This time he told me that the proof of address given by me was not acceptable. Obviously he didnt check my form when I submitted it or even when I called him after a week. And he kept assuring me that the application was under process! Of course, I dont expect icici to call me when there is some problem with the application- its too much to expect from them. But at least they could have told me of the problem when I called them. Anyway, next day I went with my bank account passbook and told them to get photocopy of entire passbook if they want. The executive kept smiling shamelessly and again assured me that the account will be up and running in 10 days.

Once again I waited for a week and then called him. He told me that he has lodged my form and I will soon get a confirmation call. This went on for another week and then another week. Finally I suspected some foul play and called their customer care instead of the executive who had been dealing with me. The customer care told me, Your application has not yet been received!! So I again called up this guy and asked him about it. Now the height of shamelessness- he had the guts to assure me again that the form had been lodged. He said that it takes some time before customer care can locate it in their system! - Thats complete lie, as I know now.

This game between customer care and the executive went on for 3-4 times before I decided that it was best to record these things in writing rather than on phone. So I sent a mail to customer care on July 18, 2007 giving all details. Magic! the very next day this salesman calls me up and says we have misplaced your form. You will have to fill a fresh form now thats something even for lousiest customer service in the world! Naturally, I told him that I wouldnt be a fool to open an account with a bank that has employees like him. Thanks God the form was lost!

Unfortunately that didnt end my encounter with icici direct. The next day I got a call from their customer care with the salesman on conference call. The salesman had found the form and lodged it in the system. To be fair to them, the form was actually lodged on 25th July after more than a month of harassment. Then the very next day the status of the form was changed to rejected. This is what the website says:

Your application for opening an Idirect account has been rejected on 26-Jul-2007 on account of the following reasons:
BANK STATEMENT SUBMITTED SHOULD BE LATEST OF THREE MONTHS. PL. CONFIRM THE BANK BRANCH NAME AND CODE..
Our Sales executive from MAHALAKSHMI - REGION will get in touch with you for rectification of the application within 2 days.

This, when I had given them the whole passbook and they could have photocopied whatever was needed. I am also sure that they photocopied at least last 12 months transactions!

Of course, no one contacted me to rectify it. So I called up the customer care again on 1st August and asked them to register a request for the same and the call center promptly replied that they couldnt take a request before two days have passed. I tried to explain her that its four days between 26th and 1st august. But, trust icici to employ people who cant count. What about introducing a training program for employees for counting and alphabets!

Meanwhile, I have mailed the customer care about it on 2nd august. Their reply was a short and sweet one we have registered your request regarding arranging an executive for rectification of the account opening form 9001668020. The Service Reference number is SR33033782. We will confirm the status by SMS or e-mail within 4 working days. Knowing how they measure days in icici direct, I have decided to apply for an account with reliance money.

 

[J_D]

My Friendly neighbourhood Indiabulls RM is encouraging me to open an internet trading Account with Indiabulls.

I request the members already using Indiabulls to kindly enlighten me on the following:
*the discussion points with RM (bargaining of brokerage, and other matters to be taken into consideration) while opening an internet trading account,
*do's and dont's,
*problems faced in Indiabulls Internet Trading and
* any other advice on opening the internet trading account with Indiabulls.

Thanks in Advance..

John.

 

[lovetowatchx20]

peoples always say brokerage for intraday is 1-5 paisa for intraday and 10-40 paisa in delivery based ..
but they always forgets hidden charges .. its is also a big amount
if u paying 5 paisa for intra it mean u have to pay more 3 paisa for hidden cost . and every body forgets about these changes .. this is also less from your profit..
i want to know .. its common for all or its different from securities to securities

Ajeet singh

 

[vneil]

I have both Kotak & HDFC. HDFC was from early days. Kotak is slightly costlier in terms of brokerage, but they do not block money like HDFC does. Also, I can trade for upto 4 times the base capital. The only issue is that Kotak does not send physical contract notes and you cannot download and save from their website

 

[vishnuindian]

Thank u sir
and in religare what is that margin amount
i heard that ve hve to have a margin amount 5000
can u explian reg this please..!!

thanks in advance

Hi Rajesh

Sorry for the late reply.

There r 2 types of brokerage offered by Religare.. the normal one is 0.05%(0.05p) for Intraday type of trading and 0.50%(0.50p) for Delivery type of trading.

Now, there is something which they call as the Freedom plan.. under this, there are 4 types of subscriptions and a customer can choose any 1 type, they are:
Monthly- Rs.500
Quarterly- Rs.1400
Half yearly- Rs.2500
Annually- Rs.4000
Under this Freedom plan, the customer is allowed to trade at 0% brokerage DAILY for 300000 in Intraday and 40000 in Delivery. After the customer crosses the above mentioned amounts, he will be charged 0.03% (instead of the normal rate of 0.05%) for Intraday and 0.30% (instead of the normal rate of 0.50%) for Delivery.

Thanks.

 

[vneil]

Just make sure that you are trading for that kind of amount. Even Kotak has a scheme, where by they have fixed brokerages. However, it such that unless you trade on a regular basis, it becomes costly. I only buy when I have the money and the stock rates are within the range I need. So, I cannot afford the fixed fees, even though it looks small. In day trade, if you calculate, it is the brokerages that make money. The investor very rarely makes money, unless he is a big time player, in which case, INdia Infoline and others give you a brokerage of 0.01% even for day trades with no carry over.

Thank u sir
and in religare what is that margin amount
i heard that ve hve to have a margin amount 5000
can u explian reg this please..!!

thanks in advance

 

[vishnuindian]

Just make sure that you are trading for that kind of amount. Even Kotak has a scheme, where by they have fixed brokerages. However, it such that unless you trade on a regular basis, it becomes costly. I only buy when I have the money and the stock rates are within the range I need. So, I cannot afford the fixed fees, even though it looks small. In day trade, if you calculate, it is the brokerages that make money. The investor very rarely makes money, unless he is a big time player, in which case, INdia Infoline and others give you a brokerage of 0.01% even for day trades with no carry over.

THanks for the Support

And if we Quit from icici direct will the Annual Maintaince Chareges will be stopped,,, and wats is the procedure for quitting from icici.. ?
And will it affect our savings account in icici...

Please help me in this issue,,,

Thanks in advance