Online Trading of Shares and MFs

asninv · #1 23rd December 2007, 04:16 PM

Hi all,

How are you? I have joined traderji as a new member. I would like to get your (experienced) advise / ideas about onine investments.
I am just learning on MFs and Shares. I have choosen to go for MFs and long term investments in shares (not day trading). Also, I would like to go for online investment completely to keep of the hassles of paper work. I was searching for it on the net and found that there are some banks and stock broking companies offer this.

Here is my requirements
1. Online buy/sell of mutual funds.
2. Online trading of share for long term. I will purchase big companies shares and sell it after few months. (not a frequenct trader)

There are options
1. ICICI Bank
2. HDFC Bank
3. CITI Bank
4. Networth
5. ShareKhan
6. Relaince Money

Please help me choose a good bank/brokeragefirm based on your experience.

Thanks,
Sethilnathan A.

jitendra.borole · #2 3rd January 2008, 05:10 AM

i think Sharekhan is good option...

myself is having icici, india infoline and sharekhan account

Among which India infoline is not providing good service (my experience)
Icici is costly (They are having some minimum charges also for a small trading)

If u ask me my opinion, i will suggest u Sharekhan with less brokerage (At least than Icici) and good Online facility.

GlobalGyan · #3 3rd January 2008, 06:35 AM

I use ICICIDirect for MF and Sharekhan for stocks. I don't day trade.

I have seens that ICICIDirect is best when it comes to Mutual Funds because they seem to have all the MFs in the world. HowverICICIDirect is not for day trading/stocks. When the market goes down or up, ICICIDirect goes out of the web world!

Sharekhan has been relativly stable when it comes to market hours, there have been times when the login ID did not work during market hours.

ICICIDirect till now has not given me any problem - but you have to be careful, as they usually dont email/mail your statements and you may lose track of your investment

mrindia · #4 3rd January 2008, 06:07 PM

Quote:

Originally Posted by GlobalGyan

I use ICICIDirect for MF and Sharekhan for stocks. I don't day trade.

I have seens that ICICIDirect is best when it comes to Mutual Funds because they seem to have all the MFs in the world. HowverICICIDirect is not for day trading/stocks. When the market goes down or up, ICICIDirect goes out of the web world!

Sharekhan has been relativly stable when it comes to market hours, there have been times when the login ID did not work during market hours.

ICICIDirect till now has not given me any problem - but you have to be careful, as they usually dont email/mail your statements and you may lose track of your investment

Hello!
I use 'HDFC Investment Saving acc' for occasional MF purchases. As SEBI has waived off entry load for investors who buy MF units directly from AMCs, this type of transection will be treated as 'direct' or 'through agent'
In other words whether it will attract entry load or not? Plz enlighten!

asadbeig · #5 3rd January 2008, 07:52 PM

MrIndia,

As HDFC bank is a distributor of the MFs, investments through them will attract entry loads. Only if you apply directly through an AMC by way of application forms or online at an AMC website (i.e. if you have your Folio Number),there will be no charges.

greatindianwiseman · #6 6th January 2008, 10:19 PM

Quote:

Originally Posted by GlobalGyan

I have seens that ICICIDirect is best when it comes to Mutual Funds because they seem to have all the MFs in the world. HowverICICIDirect is not for day trading/stocks. When the market goes down or up, ICICIDirect goes out of the web world!

hi GlobalGyan, Any idea what happens to the MF investments if you close icicidirect a/c. I have some MFs parked with them.

GlobalGyan · #7 6th January 2008, 10:30 PM

Quote:

Originally Posted by greatindianwiseman

hi GlobalGyan, Any idea what happens to the MF investments if you close icicidirect a/c. I have some MFs parked with them.

I had once asked this query to ICICIDirect.com helpdesk, and they said that they would "paper" all the investments you have with them. In other words, it would just like having the funds bought from the AMC. I think then you would need to re-register individually with the AMC using the folio numbers. Hope this helps.

dasarp.urug · #8 8th January 2008, 11:32 PM

hi guys...
how about reliance money ? i am told it has the cheapest brokerage charges for day traders... how is their service and user interface ?

reading the above posts can i assume sharekhan is the best option for day-trading ?

gavurla_v · #9 13th January 2008, 04:36 PM

HI friends
i am also new to trading. i had open an account from Reliance money. i think it is good when compared with brokerage charges.

gavurla