Discount Broker Comparison

[bpr]

some of the screenshots of scalpert

I like tabbed charting ..rest all we have seen it before.

today it is little more responsive ...able to make some screenshots

 

[euginsa]

JI,

Is Wisdom capital best to play with highest margin and less brokerage. Also along with datafeed setup for Amibroker and Ninja..
Kindly advice

 

[MaverickRohan]

JI,

Is Wisdom capital best to play with highest margin and less brokerage. Also along with datafeed setup for Amibroker and Ninja..
Kindly advice

I would also like to know who's giving best margins

 

[cloudTrader]

SAS Online have launched ALPHA Desktop Platform , which I tested & found that it is another sub standard platform which would hardly help in trading in any way. Seemed to be a ripped off version of SPIN by Trade Smart Online. I don't know why these discount brokers are launching products for namesake ? Whats the use of such products if we cannot even place orders on them with ease ?

 

[bpr]

SAS Online have launched ALPHA Desktop Platform , which I tested & found that it is another sub standard platform which would hardly help in trading in any way. Seemed to be a ripped off version of SPIN by Trade Smart Online. I don't know why these discount brokers are launching products for namesake ? Whats the use of such products if we cannot even place orders on them with ease ?

becuase they lack original vision and innovation they came into existence by coping zerodha model and now they are copying whatever Zerodha does..

Pi , spin and Alpha all stem from same code base which you could buy to create your platform with little customization.
it is biggest mistake of zerodha and now all these are copying the zerodha's mistake ...
sometimes you wonder if zerodha knowingly put this trap
Only RKSV stopped following it and as they see it as meaningless.

I have seen this behavior in other industries as well where other copy the market leader blindly even if it is a wrong decision.

 

[Newbie Day-Trader]

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

I wish I could share your enthusiasm with regards to IB, I really do but there are still issues, like very high margins, very high net-worth requirements & so on, which IB needs to reconsider & revise if they are ever to become a force in the Indian broking-business; & of course, IF they did that, then as you've surmised, they could single-handedly steam-roll most of the Indian brokers.

great info...thanks....

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

This thread contains posts from SmartTrade & other TJ members with personal experience with IB, & the roadblocks that IB has in place to stay away from small traders - http://www.traderji.com/community/threads/interactive-brokers-pros-and-cons.94833/

 

[Newbie Day-Trader]

Fyers web is now number 1 platform kite upstox is history .....assuming fyers did a good job of integrating the tradingview api ...

trading from charts ...tradingview has the best web trading from charts implementation
Kite has none and upstox implementation was sketchy last I heard ..

dom ladder and trading from ladder -- again best implementation ....

trading view charts far better than any other web chart api ...


again we are not going to have many bugs as it is maintained by third party so all fyers has to do update the api from time to time ...

which results in win win for broker and trader...

I'm still in the process of opening an account with them but based on what I've seen of tradingview & Fyers, I think you may very well be right but I won't dare to get too excited because we've seen this before, a discount-broker comes up with a good platform but then over time, one realizes that it's not as good as one'd thought it was going to be; although this, I hope it will be different with Fyers given that as you've said, it's maintained by a third-party but still, I wonder if they'll run into similar issues as other discount-brokers as the number of their clients increases, & whether they'll be able to keep their platform & client-support stable over time.

 

[Newbie Day-Trader]

This is ridiculous!!! For online trading tech glitches can happen anytime.
IB operating client support from the US? 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?
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!

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.

Probably not very relevant but still, IB's call & trade are hardly much different from many reputable brokers in the US. Check pricing for TDAmeritrade & Fidelity's broker-assisted trades attached below. It's weird though that IB raised it to Rs.2000 because as I remember, it was significantly less than that when they first started their business in India.

 

[Snake.Head]

Probably not very relevant but still, IB's call & trade are hardly much different from many reputable brokers in the US. Check pricing for TDAmeritrade & Fidelity's broker-assisted trades attached below. It's weird though that IB raised it to Rs.2000 because as I remember, it was significantly less than that when they first started their business in India.

Frd is using IB and is very happy with it - Even i tested few for days - on heavy volume and news base day
Support is non for their trading software - refe to youtube - they have made very well video about their SW
margin 4X only
You can't short after 2.30
They OCO type works very well they lot of order type in their system other discount broker can't bring

 

[headstrong007]

I have tested their demo, 10-15-30 seconds charts were accurate even on yesterday: Muharat Trading Day.
Order window is much advanced!
*********
Even with such absurd Rs 2000 per order call & trade charge, they are interesting... Although such condition is a big headache for day traders with higher trades & frequency!
**********
Anyway, their terminal is one of the best in the world, I have test it. If any TJ member want to test it, go through below link:-

JUST PROVIDE THE VALID EMAIL ADDRESS.
https://www.interactivebrokers.co.in/en/index.php?f=19903&invd=T

Here is the 1550 page terminal guide!!

https://www.interactivebrokers.com/download/TWSGuide.pdf

Who think trading is an easy business! When they read just a terminal guide book 1550 pages! Traders have the greatest patience! Cheers!!