How much brokerage rate should I negotiate for ?

[xienes1]

I trade intraday.

Currently I am paying very high brokerage of 0.10 % intraday.(with Indiabulls)
I can't trade large sums due to it.

I want to increase my daily trading volume. How much should I negotiate for?

My daily volume would be more than Rs.20 lac initially and may go to more than Rs.50 lac one I become more free next month.

I may even switch to other brokeage firm if they don't agree.
I don't mind any montly commitment or minimum brokerage (as in Angel).

How much brokerage are other people paying? Kindly mention daily volumes traded also.

 

[chennaitrader1985]

U CAN TRY THIS BRO....

http://www.zerodha.com guys today.
They have fantastic offer. They offer cheapest brokerage in market, much less than even RK Global.
1. Per order rate - 20 INR and not against per lot - FNO, equity.
2. Direct NSE terminal from NSE server, no server from broker in between.
3. Live technical analysis from NSE TAME on NSE server.
4. Leverage 10 times - nifty stocks
5. 5 times leverage on stocks.
6. Account opening -600/-
7. Amc 400/-
8. There is no charge on software like RKG.
9. They use NSE NOW and http://nowonline.in/now_home.html (run by NSE).
10. No commitment for lots per day.

I think, now we are going to have vanilla brokerage plans. They don't charge per lot in FNO, they charge flat rate against per trade. This is very good.
Server issue is not there as NSE server being used

 

[nac]

^

I would rather suggest xienes to pick RKG, since he can do "n" no. of trades with no limit in turnover/volume. If you wanna open with the broker nearby your place, negotiate...

I am sure one broker or other will come down. I wonder how did you accept .1% while account opening and now you feel its too much.

First try to negotiate with IB then try someone else. If your IB branch doesn't bring down your brokerage, tell them you will talk to other (near by) IB branch and transfer your account there and get lower brokerage.

I mean try hard to get lower brokerage from IB before looking for some other broker...

 

[vijayvaliya]

I trade intraday.

Currently I am paying very high brokerage of 0.10 % intraday.(with Indiabulls)
I can't trade large sums due to it.

I want to increase my daily trading volume. How much should I negotiate for?

My daily volume would be more than Rs.20 lac initially and may go to more than Rs.50 lac one I become more free next month.

I may even switch to other brokeage firm if they don't agree.
I don't mind any montly commitment or minimum brokerage (as in Angel).

How much brokerage are other people paying? Kindly mention daily volumes traded also.

From my experience, I feel you can negotiate easily for 20 paisa, 4-5 paisa (delivery, intraday). When you negotiate

prefer the brokers who are approaching you, because already they have assessed your potential as a profitable client, also may be willing to make some sacrifices to get you on board.

start your negotiations with 10 paisa, 1 paisa (del intr). make a clear understanding on leverage, margin funding rate, other fee and all associated things by jotting down them. As you discuss, make a clear understanding as to what you benefits you can get to what benefit you will be giving to the broking firm.

So far reading from this forum, I think senior people here talk about RK global, Zerodha and Angel. (With None I have a personal experience)

All the best to you.

 

[rookitrader]

if you are a day trader then there are only rkglobal and zerodha to choose from.going for % of volume might work from investment point of view but as a daytrader ones volumes only increase and so does the brokerage.
going for rkg is good if u are only into equites.they have 999 per month which is very good.
if ur into futures and options then zerodha is very good.20 per order(any number of lots) works out very well for volume traders.plus they dont have monthly charges.