Options Cheapest Price edelweiss

[padmanaditya]

Subrscrption fee Rs.2450
turnover limit delivery/intraday 7.5lac/75lac
validity period 12 months

account opening charges included in the 2450 amount.
Edelweiss free 2 month software.After which Rs.100 per month.
Web based client no charges.

PLz tell me whether its worth going for it

 

[iamaaditya]

It is certainly not worth going. Edelweiss is basically lets say "high-class" broker (sorry couldn't find any other adjective, word best known in indian community), thus they charge more.

Charging for s/w (which isn't that great, compared to others) is just not trying to play in the competitive market (most of their money they earn is helping bulk deals and IPO handling).

though you may not realise but it is best to go for normal brokerage methods (pay/transaction), since there is no guarantee that you will be trading for the year long as projected (and if incase it goes higher in fixed plans you will regret )

In short call some not so top brokers (Second class , if you will), and they will give you the best offer.
If you can get 1 paisa (intraday) and atleast 15 delivery, then you have got a deal for yourself (incase you don't , then PM me will recommend my broker).

 

[angdbani]

i am with Bezel. try them out for low brokerages. they are giving it at Rs. 10 per lot.

 

[trader15]

Your topic says cheapest options brokerage and the brokerage rates you are mentioning are for delivery/intraday of stocks.?

What are option brokerage rates they are offering you. Also what is volumes you are going to trade in options

 

[sun_aravind]

zerodha of course they are cheaper brokerage wise for cash market but option trading their turnover charges are very very high, before opening a/c with any broker pls ask for TURNOVER CHARGES, everyone see only brokerage and get carried away for 5 paisa or 1 paisa etc... but u shud check the turnover charges especially option and future traders. Zerodha is charging 0.08% for buy and 0.08% for sell which is 0.16%........so whoever is charging less than zerodha should be the best . I opened a/c with BMA wealth creator, they are charging 0.05% turnover charge. Not yet started trading let see what secret with them.

 

[TradeRaid]

zerodha of course they are cheaper brokerage wise for cash market but option trading their turnover charges are very very high, before opening a/c with any broker pls ask for TURNOVER CHARGES, everyone see only brokerage and get carried away for 5 paisa or 1 paisa etc... but u shud check the turnover charges especially option and future traders. Zerodha is charging 0.08% for buy and 0.08% for sell which is 0.16%........so whoever is charging less than zerodha should be the best . I opened a/c with BMA wealth creator, they are charging 0.05% turnover charge. Not yet started trading let see what secret with them.

Arvind,

I suppose you are new to trading....

If you pay 1% for buying and 1% for selling you are not paying 2% brokerage... .. You are still paying just 1% of the turnover...

I don't know what your BMA sales guy has sold you...Turnover charges has to be a minimum 0.055% for options, because that is how much NSE charges... So you can't really bargain to reduce it to 0.03% ...

BMA turnover charges?? You are misled brother, call the sales guy and ask him to send a sample contract note to you... They are higher than the 0.08% you have mentioned...

Most importantly, never go for prepaid brokerage brother, looks like you might have chosen it already... !!! It is basically like binding you to them and you can't leave them even if you wish to... Would you while walking into a restaurant pay your bill before tasting the food??? Food for thought!!! ...

Oops!! 14years experience?? Just read it now!!! Ask your BMA rm to send you the contract note... A lot of boys who have traded with BMA on this forum...

If nifty option is trading at 50 Rs, if you buy and sell 10 lots, you do an option turnover of Rs 50000... The transaction charge at RKG or Zerodha would be Rs 35 and Rs 40 respectively... Brokerage you would have paid with RKG and Zerodha: 180 and 40 respectively...

If you are paying with other brokers Rs 50 to Rs 100 per lot, even if the transaction charge is 0.055%(minimum ) ... you will end up spending between 1000 to Rs 2000 and turnover charge of 27.5.... So Bro, transaction charge on option hardly matters!!!

One thing I agree with u is the fact that all these big boys ruin our trading charging so much...

If I have 1lk in my account and if I have to pay 10000/qtr to get some prepaid plan, I am already down 10%... So a definite no brainer to go for prepaid plans...

Probably if I had 10lks, I could pay 10k upfront as brokerage to get some special scheme....

10lks in my trading account... hmmmm..... I am hoping to hit a lottery this diwali.... ....

Happy trading bro... But call your BMA sales guy, bunch of conman they are ....

 

[sun_aravind]

Hi
Thanks for your detailed msg and advice. I buy and sell for nearly 4cr value. Zerodha is charging 0.16% per cr , i am paying 16000 rs turnover charge ( buy and sell ). After which i pay STT etc which adds up 2000rs . I am getting screwed here only . whats the use in per trade scheme. Advt is very good.

Regarding BMO ,of course i went thru the contract note of some clients, they are charging 0.05% which i feel is much cheaper than zerodha. Still you can beat out the price.

Still waiting for some broker who take prepaid brokerage and charge nothing for trading. I am ready to pay even 50000rs pre paid, but there shud be no bills.