Who is paying lowest brokerage????

Discussion in 'Brokers & Trading Platforms' started by pkkothari, Oct 1, 2006.

  1. pkkothari

    pkkothari New Member

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    Let us find out who is paying lowest brokerage and whether he can help others to have similar brokerage.

    Ok I will start. I am paying a brokerage of 0.015% in F&O and Intraday equity on both sides with 5paisa.com. They charge 0.17% in delivery. My efforts to reduce the brokerage to 0.01% and 0.1% are not yet successful.

    I have negotiated with halfpaisaonly.com who are charging only 0.005% in F&O and intra day. I am only worried about their credibility. There is no problem of credibility with 5piasa.com as I have been trading thry them for last 3 years and there was no problem except some time server failure.

    Regards

    P K Kothari
     
  2. imranais

    imranais New Member

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    0.17% on delivery, is there a volume commitment or monthly charge for getting this low brokerage.

    I am using ICICI (I know its sucks) for last 2 years and want to change desperately now. ICICI charges a whopping 0.75% on delivery.

    Pl. advise as I need to change broker desparately and urgently, Thanks.
     
  3. iamtrr

    iamtrr New Member

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    Dear Mr Kothari,
    I too have a trading account with 5 paisa.com till now they are charging me 0.1% on each leg on F & O(they have to refund me a brokerage of Rs6706 which they say will take some time. This is for the brokerage on trade between 18th sept to sept 28th. For first 17 days i.e. 1 sept to 17th sept they have charged 0.1% for each leg and say they cannot reverse as entries already made) and now they have agreed to reduce it to 0.03% on each leg only from 18th sept. Is there any minimum turnover stipulated to you for .015% charge and .17% for delivery? Kindly inform us for our taking up with India infoline.
    tks
    TRRajagopal
     
  4. dp111

    dp111 Member

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    pLEASE UNDERSTAND , brokerages give u low brokerages , but there are usually many hidden charges and also monthly volume committments
     
  5. pkkothari

    pkkothari New Member

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    Dear friends:

    Yes, although there is no monthly committment with 5paisa.com, but I have slightly high F&O volume i.e. apprx 4-5 trades in F&O on average every day. It is apprx Rs 25 Lacs to Rs 50 Lacs per day. I don't know whether this is a high volume? There is absolutely no intererention or trading by any Relationship manager as alleged in Indiabulls.

    I have taken annual package of Rs 7999 which is adjusted in your brokerage. This happens in first or second month itself.

    They are also charging transaction charges of 0.008%. As per halfpaisaonly.com, this should be 0.006%. Payout takes min 2 days, but without any problem. Money is transferred in your account.

    I was also paying 0.05% brokerage initially, which reduced to 0.03% and finally to 0.015%. Now, they are offering 0.0125% against my demand of 0.01%. Negotiations are still on. I will let you know whenever finalised. Menawhile, halfapaisa has agreed to charge 0.005% with 0.006% transaction which is extremely attractive. I am planning to open my account with halfpaisa which has already sent application form. Any suggestionon halfpaisa.

    Regards.

    P K Kothari
     
  6. imranais

    imranais New Member

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    WOW 25 lacs to 50 lacs PER DAY!!! Thats huge volume, u must be mighty rich Mr. Kothari... :)

    I dont even do trade of 1 Lac per month and I am paying brokerage of 0.75% delivery to ICICI. Do u have any suggestions for a brokerage house for me, plz advice. Thanks!
     

  7. Trader07

    Trader07 Member

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    Hi PK ,

    How much leverage ( margin limit ) does India Infoline provide for your intra-day trades ?

    best rgds
    T7
     
  8. pkkothari

    pkkothari New Member

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    No, I am not mighty rich. I am also a normal PSU employee. If one buy one future and sell on the same day, volume becomes Rs 6-7 Lacs. If you trade 4-5 futures, volume increases to Rs 25-30 Lacs. I don't think this is a high volume.

    As far as economics goes, suppose you buy one future of sterlite @ Rs440 and sell at Rs 442, then your profit is:

    Rs 442-440= 2 * 875= 1750 Less brokerage

    Brokerage Service Tax STT Trn C TOTAL Buy 0.015% 0.00184% 0.0000% 0.0080% 0.02484%
    Sell 0.015% 0.00184% 0.0170% 0.0080% 0.04184%
    Total 0.03% 0.00367% 0.01700%0.01600%0.06667%

    Total expenses: .0006667*441*875=Rs 257.26
    Net Profit: 1750-257.26= 1492.74

    However, you should buy the future only when you are in a position to take delivery if price goes down or fix a stop loss.

    Everyday, sterlite moves in a range of Rs 10-15, therefore, you can trade easily for 3-4 transactions and make Rs 4000-6000 per day.

    As far margin is concenred, I have never checked, since I keep sufficient cash and shares in my account and never go for margin trading as any overnight debit attract 18% interest by indiainfoline.

    I hope I have replied to queries raised.

    Regards.
     
  9. venkata_ramani

    venkata_ramani New Member

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    Friends,
    Why are you stuck with some money sucking brokerage houses?
    You know what, Reliance Capital Ltd. has launched its brok house
    Reliance Money. Its charging a paltry brok of Rs. 2500/-(2k 5h only) for 6cr (intraday) and for 60lakh delivery. Moreover they do not charge any service tax. They rather have a prepaid brok system in slabs of 500, 1500, 2500.
    This is really cool.:cool: But the only flaw may be that they do not have a
    software but rather a java web based realtime terminal. This is as good as it gets.
    P.S. - I am a client and not a franchisee or employee.
     
  10. kurian

    kurian Member

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    haii
    i am trading with indiabulls my brokerage is .02 and .2 for intrday&fand o and delivery.(my account size was only 7000 thn)
    there is rkglobal.net who r considered to giv lowest brokerage its rs1000/month irrespective of volume.
    religere is giving .02
    kotak mahenddra is .18 % or rs 9 for 50000 i think
    angram broking is also giving .02 not sure
    i applied for reliance 20 days back and no reply .

    anybody hav any experience with rkglobal.net pls share

    kurian joseph
     

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