Discount Broker Comparison

bpr

Well-Known Member
IB India membership verification

I had no idea they had nse memebership since 2007


BSE mebership since 2009


apparently they have msei(mcx-sx) Currency segment memebership also but unable to verify it ...
In the site footer it is not mentioned but in some documents I see it. so we never know.

Also they have NSDL for DP.

Right now IB is only advertising price for NSE only I am not sure Why ? May be some existing member can confirm if they provide BSE or not ??
 
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headstrong007

----- Full-Time ----- Day-Trader
for telephone order 2000 per order
This is ridiculous!!! For online trading tech glitches can happen anytime.
IB operating client support from the US? :clown: Even US brokers probably don't charge USD 30 for call & trade.

SEBI has some rules and regulations like the present regulations cap -
The maximum brokerage at 2.5% of the total traded value, without specifying any lower limit..For options, maximum brokerage per lot is capped to Rs 100 also.

How is that possible to charge Rs 2000 per order as call & trade when someone wants to square off 5 shares of Rs 100? :D
What if a trader want to square off 25 open orders during technical glitch like what happened to NSE few weeks ago? Rs 50,000 for using call & trade! :eek:

Call & trade is not direct brokerage but additional cost attached with trading, which is also under Sebi rules and regulations. Anyone can complain about such unreasonable rate & attract the attention of SEBI. IMO.
 
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Snake.Head

Well-Known Member
Yes most hedge fund are using them due their api
you trade nse only
@Smart_trade Had account few years back when brokerage where high..He can tell how was their services ?


IB India membership verification

I had no idea they had nse memebership since 2007


BSE mebership since 2009


apparently they have msei(mcx-sx) Currency segment memebership also but unable to verify it ...
In the site footer it is not mentioned but in some documents I see it. so we never know.

Also they have NSDL for DP.

Right now IB is only advertising price for NSE only I am not sure Why ? May be some existing member can confirm if they provide BSE or not ??
 

bpr

Well-Known Member
Time is up

Added IB India to the list
Still don't have most info once I have I will update. if you have then please post here.
With IB following 20 per order model this is tough competition to all other brokers.
I would say it is kinda "time is up" for the desi discount brokers. they had all this time to upgrade their technology and they did not do justice or even if they did, they did it in a half ass manner ...now time is up.

it will be very hard to beat IB with technology.

The TWS IMHO another crap platform (old dinosaur) but it will give run for money for any other desktop platform we have in India.

But that is not the point IB means you can directly connect to NT,Multicharts,Motivewave and many other platform and trade from them.
And you can now theoretical Algo trade with no catch ...you cannot put a price on that.
this will be hard to beat especially when you are getting it for the same price of Rs 20 per order

this basically means we can now trade at par with international traders.

Thankfully for the desi discount brokers there are some nagging IB policy which will prevent mass exodus
1 lac minimum balance
2000 per order for Call and trade
Min 200 brokerage per month
also there is some catch with 20 per order but for most part it will not affect any body(discussed earlier in the thread)
but big and professional traders will slowly move as they see the value.
Going forward One thing is for certain competition is going to be tougher and tougher, just buckle up and ride
 

Subhadip

Well-Known Member
Time is up

Added IB India to the list
Still don't have most info once I have I will update. if you have then please post here.
With IB following 20 per order model this is tough competition to all other brokers.
I would say it is kinda "time is up" for the desi discount brokers. they had all this time to upgrade their technology and they did not do justice or even if they did, they did it in a half ass manner ...now time is up.

it will be very hard to beat IB with technology.

The TWS IMHO another crap platform (old dinosaur) but it will give run for money for any other desktop platform we have in India.

But that is not the point IB means you can directly connect to NT,Multicharts,Motivewave and many other platform and trade from them.
And you can now theoretical Algo trade with no catch ...you cannot put a price on that.
this will be hard to beat especially when you are getting it for the same price of Rs 20 per order

this basically means we can now trade at par with international traders.

Thankfully for the desi discount brokers there are some nagging IB policy which will prevent mass exodus
1 lac minimum balance
2000 per order for Call and trade
Min 200 brokerage per month
also there is some catch with 20 per order but for most part it will not affect any body(discussed earlier in the thread)
but big and professional traders will slowly move as they see the value.
Going forward One thing is for certain competition is going to be tougher and tougher, just buckle up and ride
great info...thanks....

waiting for a good review by any of the senior member of TJ with personal experience....
 

bpr

Well-Known Member
tried finvasia scalpert demo ...this is nothing but another kite/upstox or mix between the two ...
the product early alpha ...has tons of bugs and not smooth at all..
however if they resolved all the issues it will be a viable alternative
question is how long it will take them to give stable build ....my guess not anytime soon
 

cloudTrader

Well-Known Member
tried finvasia scalpert demo ...this is nothing but another kite/upstox or mix between the two ...
the product early alpha ...has tons of bugs and not smooth at all..
however if they resolved all the issues it will be a viable alternative
question is how long it will take them to give stable build ....my guess not anytime soon
Does it include any kind of scanners ?