Gurus Please help - Angel Broking or India Bulls

[lonelyhunk]

Hi Buddy, I am from Mumbai & trading with Angel since long. To get better brokerages, you may offer to deposit more margin amount while account opening or choose for advance brokerage. This should help you negotiate the brokerages to a large extent. further, I started with Rs. 100,000 hence the same. For futures & options also, Angel seems much economical than others. Their customer care is quite good. I have been alloted a dealer who calls me frequently & suggests to invest in stocks recommended. Moreover, their Risk mgmt policy is also little flexible & found overall pretty good vis-a-vis other brokers. I have an account with MOSL, Share Khan, Standard Chartered Capital Markets, HDFC Sec, Anandrathi.... But trades generally with Angel due to better customer service & advantages..... Cheers!

Hi Shyam, Thanks for your response. I will be talking to Anagram today and then decide on the broker. They have some offer like free demat and daily 100000 worth trading free of brokerage, beyond which they will charge 0.04 and 0.2. They charge Rs. 5000 annualy for this service. Angel has one problem like they dont have BTST, which is a concern for me. Lets see how it goes.

 

[VijayDT]

Hi Shyam, Thanks for your response. I will be talking to Anagram today and then decide on the broker. They have some offer like free demat and daily 100000 worth trading free of brokerage, beyond which they will charge 0.04 and 0.2. They charge Rs. 5000 annualy for this service. Angel has one problem like they dont have BTST, which is a concern for me. Lets see how it goes.

Hi Lonelyhunk, I have been with Angel for few months and have found their service extremely good. The offer of Rs 5000 annually from Anagram is not cheap, a reasonable "investor" trade for 25 to 50 days a year. Even if I calculate for 50 days of trade per annum, then too brokerage yield is coming to 0.09%(Rs 5000- Rs 350 for demat charges)--which is high by any standards. I think it is better to go for plain Vanila brokerage of 0.04 and 0.2 if you are opting for Anagram. I would still recommend you for Angel. I have explored many, but selected Angel after lots of considerations.

 

[alroyraj]

As far as i know BTST is nothing but buying and selling using delivery rates. Unless you are talking about margin trading that is a different matter.

 

[lonelyhunk]

Hi Lonelyhunk, I have been with Angel for few months and have found their service extremely good. The offer of Rs 5000 annually from Anagram is not cheap, a reasonable "investor" trade for 25 to 50 days a year. Even if I calculate for 50 days of trade per annum, then too brokerage yield is coming to 0.09%(Rs 5000- Rs 350 for demat charges)--which is high by any standards. I think it is better to go for plain Vanila brokerage of 0.04 and 0.2 if you are opting for Anagram. I would still recommend you for Angel. I have explored many, but selected Angel after lots of considerations.

Hi Vijay,

Thanks so much for sharing your experience with Angel. I am just inching towards Angel day by day with increased positive response. BTW, are you from bangalore ? I feel the location does matter as the service is not same at all of their branches. Today I discussed with Anagram once again and made it clear that i m not interested in prepaid brokerage. With my intention of transacting equity, commodities and currency together coupled with a moderate daily voulme of 2-3 lakhs, they seem to be ok with 0.02 and 0.2. However I am still bargaining for less on which he will come back tomorrow. One hitch is there is one account opening charge of Rs. 750/- which is lifetime (no AMC). Lets see.

 

[lonelyhunk]

As far as i know BTST is nothing but buying and selling using delivery rates. Unless you are talking about margin trading that is a different matter.

BTST is buy today and sell tomorrow - albeit at the delivery brokerage rate. Nothing new here, except the fact that some brokers do not allow this like Angel. That means either i have to square it off the same day or else wait till T+2 days when the share will be physically present in my demat account. Then only I will be able to sell it.

 

[VijayDT]

Hi Vijay,

Thanks so much for sharing your experience with Angel. I am just inching towards Angel day by day with increased positive response. BTW, are you from bangalore ? I feel the location does matter as the service is not same at all of their branches. Today I discussed with Anagram once again and made it clear that i m not interested in prepaid brokerage. With my intention of transacting equity, commodities and currency together coupled with a moderate daily voulme of 2-3 lakhs, they seem to be ok with 0.02 and 0.2. However I am still bargaining for less on which he will come back tomorrow. One hitch is there is one account opening charge of Rs. 750/- which is lifetime (no AMC). Lets see.

Hi, I am from Mumbai. I agree service varies from branch to branch, it is better to meet local team before deciding on the broker. Any ways, I wish you all the best and hope to hear from you soon on your selection.

 

[alroyraj]

BTST is buy today and sell tomorrow - albeit at the delivery brokerage rate. Nothing new here, except the fact that some brokers do not allow this like Angel. That means either i have to square it off the same day or else wait till T+2 days when the share will be physically present in my demat account. Then only I will be able to sell it.

That is unfortunate because this is a good trading method for todays's markets. IB offers it though under the cash option (delivery) sub menu stocks not held in DP.
Of course BTST has to be combined with a broker having prompt and effective After Market Orders (AMO), which is not the case at IB.

 

[VijayDT]

BTST is buy today and sell tomorrow - albeit at the delivery brokerage rate. Nothing new here, except the fact that some brokers do not allow this like Angel. That means either i have to square it off the same day or else wait till T+2 days when the share will be physically present in my demat account. Then only I will be able to sell it.

Hi, again, It is not that Angel does not allow. You can buy and sell it a next day, but the risk of auction is yours. It depends on which scrip you want to trade for BTST. My experience is that probability of auction is very less if you do in a reasonally liquid stock. In fact they fund your buy positions.

 

[lonelyhunk]

Hi, again, It is not that Angel does not allow. You can buy and sell it a next day, but the risk of auction is yours. It depends on which scrip you want to trade for BTST. My experience is that probability of auction is very less if you do in a reasonally liquid stock. In fact they fund your buy positions.

I was not aware of that. Thanks for the information. But I am not sure why the branch manager told specifically they will not allow BTST.

 

[alroyraj]

Some brokerages offer BTST as a product (marketing), but once you come to know it is the same as delivery then there is no difference. Same thing happened to me.