Suggest A Broking House For Small Trader

[bharath.mang]

Hi Boona,
for equity it seems alrite, but what about futures and options.. it will workout very expensive(0.01% for both futures and options) ... have used bajaj capital and lost close to 20k last april, as the platform didn't work at all and was not able to use the call center also....

 

[Boona]

Hi Boona,
for equity it seems alrite, but what about futures and options.. it will workout very expensive(0.01% for both futures and options) ... have used bajaj capital and lost close to 20k last april, as the platform didn't work at all and was not able to use the call center also....

yeah for FnO there are better options around like Zerodha and RKG

but for equities alone, there is none to beat bajaj cap justlite....where else we can get to trade for just 30rs per day without any limits....i wonder this may go off pretty soon and they may apply some cap on it...i dont know

and reg downtime, i have never faced it quite often. Probably u are referring to Just Active, which is exe based platform, and may be with more downtime, i really dont know...
as far as Just lite is concerned, it is a simple web-based application with push technology..

They have multiple ph numbers with STD codes, some will always work for u. The toll free number will be very difficult to get thru in case downtimes...but here again compare with others. Bajaj has a toll free number and they dont charge for call and trade...so call and well is trade is free in callnTrade, whereas others charge for both !...as said before, it wud be difficult to get thru toll free in case of system downtimes, but other numbers are always available..

btw..are u fully into zerodha now? how is the experience...brokerage is one part and ppl tend to loose more often bcos of ill-conceived strategies (or none !) rather than bcos of brokerage

 

[nac]

Please let me know basic brokrage of Sharekhan, Indiainfoline and Angel without any advance brokrage or plans offered. Just like my current 3 brokers are providing, flat, sbi .075 intra and .5 del which is good for ipo, kotak .035 intra and .35 del and rkg at 9+charges.

Reason of no advance is I don't trade often. Shares trading is my side business/investments which I do when I feel like. I'm not an investor nor active trader, you can say occasional player. Hence I opened this thread and requested in 1st post itself about my statues and requirements else I've been following dozens of threads here.

You are now trading with RKG. Its better you can stick with them for your style of trading. Since your volume doesn't seems to be high, I highly doubt any broker will offer you less than .035% for intra day. Your order value will be around 80k, even if you get 1 paise for intra day you will just save Re. 1/-. Since your volume is less, don't bother about brokerage and better don't hunt for any cheap broker. Still you want to.... continue reading this post...

Since you mentioned you got few lakhs (I don't know whether it's all in your trading account or not). You can try this... You call sharekhan or IB or Angel or IIFL and ask you want to have a brokerage of 1 paise. Most probably they would ask how much volume you will generate. Better don't commit anything... You say you will put a lakh or two in your trading account and they will bring down your brokerage to 1-2 paise, I hope.

Since you have read about those brokers you would know + and - of 'em, I don't need to put my view on 'em. Take your pick.

 

[bharath.mang]

Getting into this upfront brokerage thing is like marrying a woman without having to look at her.. .... I did it once with bajaj, had a bad experience and stopped it at the end of the first month... Zerodha is working beautifully till date, hoping to have no issues in the future... ...The only issue that could come is the platform... Have a blind trust in NSE and hence feel that the NOW platform will always be maintained well by the NSE IT team...cheers...

 

[a2744010]

You are now trading with RKG. Its better you can stick with them for your style of trading. Since your volume doesn't seems to be high, I highly doubt any broker will offer you less than .035% for intra day. Your order value will be around 80k, even if you get 1 paise for intra day you will just save Re. 1/-. Since your volume is less, don't bother about brokerage and better don't hunt for any cheap broker. Still you want to.... continue reading this post...

Since you mentioned you got few lakhs (I don't know whether it's all in your trading account or not). You can try this... You call sharekhan or IB or Angel or IIFL and ask you want to have a brokerage of 1 paise. Most probably they would ask how much volume you will generate. Better don't commit anything... You say you will put a lakh or two in your trading account and they will bring down your brokerage to 1-2 paise, I hope.

Since you have read about those brokers you would know + and - of 'em, I don't need to put my view on 'em. Take your pick.

That was really helpful post. Thanks bro for taking time. I have emailed angel and IIFL to send quotes as both brokers are closed due to holiday and awaiting response.

I don't trust zerodha, it's MLM business style and brokerage slab is highly doubtful and unrealistic. Almost every MLM company ran away taking our money. And for those who don't know what I'm writing, zerodha promise to pay 2 bucks on trade done by person you refered and promise upto 2 lacs per month! This is highly unrealistic and catchy stuff which has to be looked upon.

 

[a2744010]

Getting into this upfront brokerage thing is like marrying a woman without having to look at her.. .... I did it once with bajaj, had a bad experience and stopped it at the end of the first month... Zerodha is working beautifully till date, hoping to have no issues in the future... ...The only issue that could come is the platform... Have a blind trust in NSE and hence feel that the NOW platform will always be maintained well by the NSE IT team...cheers...

The reason I hate advance brokerage is once I had sharekhan 6 months advance plan for 1000 rupee reversal. I was quite active in those days, during satyam myhem, made big money shorting market both with rkg's FnO and Sharekhan's equity. One day I traded around 20 inta and as I stated earlier i work for peanuts profits and not dream big. I was happy by the time market closed that I made profit of rs 900. When at evening contract report came I got heart failure for a moment! I was charged at 0.5% per trade instead of .01%! And total brokerage was around 2200!! When I called sharekhan next morning they told my plan expired for which they notified me by an email. They could have called or smsd, was getting like 10 emails (still get 3-4 emails on comodity, market outlook, derivative, morning call, afternoon outlook......blah blah so I missed that particular email. Hence once bitten twice shy.

 

[Boona]

The reason I hate advance brokerage is once I had sharekhan 6 months advance plan for 1000 rupee reversal. I was quite active in those days, during satyam myhem, made big money shorting market both with rkg's FnO and Sharekhan's equity. One day I traded around 20 inta and as I stated earlier i work for peanuts profits and not dream big. I was happy by the time market closed that I made profit of rs 900. When at evening contract report came I got heart failure for a moment! I was charged at 0.5% per trade instead of .01%! And total brokerage was around 2200!! When I called sharekhan next morning they told my plan expired for which they notified me by an email. They could have called or smsd, was getting like 10 emails (still get 3-4 emails on comodity, market outlook, derivative, morning call, afternoon outlook......blah blah so I missed that particular email. Hence once bitten twice shy.

Pity buddy, i hope these are once in a while situation, and for that u cannot reason out that advance brokerage is bad as such.

Once bitten and twice shy...actually u shud be twice shy not to check ur emails regularly and especially the expiry dates of ur brokerage plan

both u and Bharat have quoted a single event to move out of a good brokerage plan. :annoyed:

Think abt this...i might have paid more than 1 lakh as brokerage alone when i was trading with some other brokerage how with 0.015%....just compare that with what iam paying now to Bajaj cap...just 7k buddy...actually i have already profited >93k by way of savings on brokerage

leave those emotional issues like that the broker did not bother to call and tell u abt expiry dates etc, think in terms of savings

Even RKGs 999 pm plan wud be effective...it is around 12k pa only and still worth it :thumb:

i feel that many are not finding out how much brokerage they pay in a month or in a year. If in profit, then a correct brokerage plan wud have given more profits and if in loss, correct brokerage plan wud have given lesser loss

Need objectivity in-terms of figures, which wud really facilitate comparison

 

[a2744010]

Pity buddy, i hope these are once in a while situation, and for that u cannot reason out that advance brokerage is bad as such.

Once bitten and twice shy...actually u shud be twice shy not to check ur emails regularly and especially the expiry dates of ur brokerage plan

both u and Bharat have quoted a single event to move out of a good brokerage plan. :annoyed:

Think abt this...i might have paid more than 1 lakh as brokerage alone when i was trading with some other brokerage how with 0.015%....just compare that with what iam paying now to Bajaj cap...just 7k buddy...actually i have already profited >93k by way of savings on brokerage

leave those emotional issues like that the broker did not bother to call and tell u abt expiry dates etc, think in terms of savings

Even RKGs 999 pm plan wud be effective...it is around 12k pa only and still worth it :thumb:

i feel that many are not finding out how much brokerage they pay in a month or in a year. If in profit, then a correct brokerage plan wud have given more profits and if in loss, correct brokerage plan wud have given lesser loss

Need objectivity in-terms of figures, which wud really facilitate comparison

Hi boona,

I gave a thought about a plan of 6999, just lite and calculated assuming my last years portfolio dealing which I regularly maintain on moneycontrol, last night after reading your comments. Out of assumed approx 140 days a year of my trading my brokerage came around 28 bucks a day average. Again somehow, you figured out well, emotionally I'm not so much attracked towards advance plans BUT I assure I'll think it as 2nd best offer after talking to angel and iifl. Thanks for clear perspectives and suggestion.

 

[udi1970]

hi sir,

is it possible for a Online broker to run away with our deposited money? I intend to open an account with Zerodha. Please clarify

 

[melissa1991]

hello, i am lukin 4 a broking house as i want 2 start intra day trading in commodities....i previously had an account wid angel broking but dey wer providing me wid a brokerage of 0.05 n den l8r reduced it 2 0.03 wid a lil negotiation...n nw dat aacount iz closed...i had dis account in the SION branch in mumbai...nw wen i want 2 strt my account again...da angel branch in Vashi, NAVI MUMBAI iz providin me wid a brokerage of 0.02...whch iz lesser dan b4...bt i hv heard dat der r oder brokin houses also whch giv a brokerage of 0.01 or even 1/2 paisa N I INTEND 2 XPLORE DEM AS WELL...can any1 plz help me wid da information of such broking houses...n r dey safe n secure..??? do dey provide proper services..??? n lastly do these brokerage charge any xtra amt 4 da software dey provide....??
all suggestions n information wil b appreciated..
thx in advance...
regards,
melissa.