indiabulls problem

usa_neeraj · #1 4th July 2006, 11:28 AM

hello
i got a call from Indiabulls RM on 29 jun for put of nifty

i got 500 put of nifty 2900 ( @ rate of 90 paisa) for Rs 455/-

as per me brokage should be about just 1 rupess

but they charge me brokage about RS 1450 instead of just 1 rupeeswhy so is this right le me know

vince · #2 4th July 2006, 11:49 AM

Quote:

Originally Posted by usa_neeraj

hello
i got a call from Indiabulls RM on 29 jun for put of nifty

i got 500 put of nifty 2900 ( @ rate of 90 paisa) for Rs 455/-

as per me brokage should be about just 1 rupess

but they charge me brokage about RS 1450 instead of just 1 rupeeswhy so is this right le me know

I dont think anyone could help unless you mention the rate they charge you as brokerage.
At what rate have you calculated Rs 1 (Is that for one lot or 5?). Pls let us know.

jdm · #3 4th July 2006, 12:18 PM

but what i understand:
1. a brokerage of Rs. 1 on an options contract, man you must be kidding.

2. the brokerage look ok only if you pay .1% or more as your brokerage (for 5 lots of nifty), but as vince said no one can help unless you give details.

3. the most likely probability, you got screwed by your RM. with 90 paisa as premium one should not trade at all. they play dirty tricks to meet their target.

ganeshhity · #4 4th July 2006, 01:18 PM

Quote:

Originally Posted by jdm

but what i understand:
1. a brokerage of Rs. 1 on an options contract, man you must be kidding.

2. the brokerage look ok only if you pay .1% or more as your brokerage (for 5 lots of nifty), but as vince said no one can help unless you give details.

3. the most likely probability, you got screwed by your RM. with 90 paisa as premium one should not trade at all. they play dirty tricks to meet their target.

Ahhhhh....I agree with your third point......you get screwed drastically by them on this one and you never come to know even....

ganeshhity

usa_neeraj · #5 4th July 2006, 03:05 PM

details

trade day and time 29 jun 11:35 am
qty price brokage servicetax amount
100 0.80 290.08 35.51 405.59
100 0.90 290.09 35.51 415.60
300 0.95 870.30 106.53 1261.83
-----------------------------------------------
2083.02

contract specification OPTIDX NIFTY JUN2900 PE
----------------------------------------------

amitt29 · #6 4th July 2006, 06:27 PM

U r not charged on the actual amount that u r paying as a premium but on the cost of the whole lot ie 2900*100=290000*whatever brokerage percent.
Regards.

anshul_161 · #7 25th July 2006, 11:27 AM

if charged 1RS per lot of 100 then it will be 290rs. and u have 5lots of 100 nifty then it means 290 multiply by 5 is equal to 1450rs

. BUT i still belive that indiabulls sucks its a bad company. never trader friendly never let u know whats going wrong with ur account.just sucks

ganeshhity · #8 25th July 2006, 11:33 AM

Quote:

Originally Posted by anshul_161

if charged 1RS per lot of 100 then it will be 290rs. and u have 5lots of 100 nifty then it means 290 multiply by 5 is equal to 1450rs

. BUT i still belive that indiabulls sucks its a bad company. never trader friendly never let u know whats going wrong with ur account.just sucks

Amazingly, I took an interview of an employee who is working with indiabulls..he came to my office for job recently and told me that indiabulls is the only company that pays incentives to it's RM's....and that too as high as 50% of what they earn for the company....he told me that all are working on a salary of 5000/- and incentives more than 35000/-...AMAZING !!!!!!!

He told me that it is a highly disorganised group....it has no calls, no research..he exactly told me "sir, indiabulls to bhagwaan bharose chal rahee hai".......RM's just suck the clients for their incentives.....

ganeshhity

srisara · #9 25th July 2006, 01:14 PM

Quote:

Originally Posted by ganeshhity

Amazingly, I took an interview of an employee who is working with indiabulls..he came to my office for job recently and told me that indiabulls is the only company that pays incentives to it's RM's....and that too as high as 50% of what they earn for the company....he told me that all are working on a salary of 5000/- and incentives more than 35000/-...AMAZING !!!!!!!

He told me that it is a highly disorganised group....it has no calls, no research..he exactly told me "sir, indiabulls to bhagwaan bharose chal rahee hai".......RM's just suck the clients for their incentives.....

ganeshhity

Ah Ganesh,

fully agree with you. it's so confusing to read their ledger reports. ICICI is more organised and user friendly in that aspect.

But, ICICI to sucks with their downtime.

Satya

gopii · #10 25th July 2006, 01:24 PM

Hi Ganesh
what u say abt the RM commission is true, since i was trading with them and he would make me trade in out in out thru out the day and mostly at loss
now i have moved to Sharekhan and find them decent, atleast with the reports/research.
rgds
gopii

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