Dear Brothers and Sisters

yeomanly · #1 27th June 2006, 12:45 PM

Hello Everyone,

This is Sudharsan from Chennai. I am 23 years of age. I am working in a software company in chennai. I was looking for views about trading and found this forum. I felt this is the step to go.

I very much new to trading. I want to open demat account and online trading. I will be a very small investor, I looked in for many comments and views on various brokers. Out of all What I found is each has both pros and cons.

I have few queries and I am very sorry If am wrong with any of the information

For what purpose should I have demat account, Is online trading is enough

Can I have demat account in one bank and trade with any broker

I have savings account in State Bank and Indian Bank, Can I use this account for my trading

Is Geojit a good one.. I dont find more views on it. Its been for years but very few customers

Is IndiaInfoline and 5paisa are same

How much days will it take for me to start trading

I have been talking with guy from India Bulls for a month and I feel only reason he is not interested in talking with me because I told him that I am a very small investor... lol

I am here to disturb you all often

Sudharsan

srisara · #2 27th June 2006, 03:52 PM

you already disturbed me with many questions.
anyhow i will answer to those.

demat is not a bank a/c rather its full name is dematerialized a/c. so most of the shares these days are traded electronically ie. demat for not those days where u need to have the physical share ceritifcate, like your graduate certificate.

internet trading, saves you the hassle of calling your broker and placing an order.

since you are a small investor and a Young Man. Start with ICICI, and do delivery trades (like investing in blue chips).

Slowly you'll learn everything.

yeomanly · #3 27th June 2006, 04:18 PM

Quote:

Originally Posted by srisara

you already disturbed me with many questions.
anyhow i will answer to those.

demat is not a bank a/c rather its full name is dematerialized a/c. so most of the shares these days are traded electronically ie. demat for not those days where u need to have the physical share ceritifcate, like your graduate certificate.

internet trading, saves you the hassle of calling your broker and placing an order.

since you are a small investor and a Young Man. Start with ICICI, and do delivery trades (like investing in blue chips).

Slowly you'll learn everything.

Hi Srisara,

Thanks for your response. Your reply was easy for me to understand.

I will just enquire about the ICICI and disturb you more.
Can you tell me how much money should I spend for opening ICICI demat account. I dont have any savings account in ICICI.

Suzi

srisara · #4 27th June 2006, 04:48 PM

it all take 1000 rupees to open an e-invest a/c. its called as 3-in-1 a/c
where u have
1. Bank A/c
2. Demac A/c
3. Internet Trading A/C

visit www.icicidirect.com for more information.

Satya

yeomanly · #5 28th June 2006, 01:15 PM

Quote:

Originally Posted by srisara

it all take 1000 rupees to open an e-invest a/c. its called as 3-in-1 a/c
where u have
1. Bank A/c
2. Demac A/c
3. Internet Trading A/C

visit www.icicidirect.com for more information.

Satya

Dear Satya,

I enquired in ICICI bank today morning in Adyar Branch in Chennai.
I was told that I can open the account but I must have minimum balance of 5000 Rs.
Is it like that or my enquiry is wrong

Suzi

srisara · #6 28th June 2006, 01:26 PM

not sure of minimum balance, it could vary. to open an a/c it doesnt cost you more than 1000 bucks.

go ahead and open an a/c.
satya

pkjha30 · #7 28th June 2006, 01:36 PM

Quote:

Originally Posted by yeomanly

Dear Satya,

I enquired in ICICI bank today morning in Adyar Branch in Chennai.
I was told that I can open the account but I must have minimum balance of 5000 Rs.
Is it like that or my enquiry is wrong

Suzi

That's right. Min Bal is Rs. 5000 on quarterly avg balance. That means it could be 6000 on one day and 4000 on another so avg 5000.It could be zero also as long as quarterly avg bal is rs.5000 else you end up paying fee to the bank

Pankaj

yeomanly · #8 28th June 2006, 02:28 PM

Quote:

Originally Posted by pkjha30

That's right. Min Bal is Rs. 5000 on quarterly avg balance. That means it could be 6000 on one day and 4000 on another so avg 5000.It could be zero also as long as quarterly avg bal is rs.5000 else you end up paying fee to the bank

Pankaj

I am going to be a very small investor. I have planned to use my savings of 6000 Rs first. So is it necessary for me to have account in ICICI and have 5000 as my minimum balance. Any suggestions ?
Can I contact any other broker ?

Suzi

yeomanly · #9 29th June 2006, 11:44 AM

Quote:

Originally Posted by altraderji

I want t close my 5paisa demat account and open a new demat account at another which is competitive and efficient but I hv 31 scrips which I do not intend to sell so Do i need to pay charges for each scrip 15/- per scrip...or can it be waived off!!!!!!!! since it is a closure of account....wht does SEBI say abt this?? I have also want to get back the deamt chrges paid for this year 20062007

Can anyone rate the Brokers for online rading...

jdm · #10 30th June 2006, 11:57 AM

sbi has started retail broking and is doling out special package for its customers, (thats the ad has to say) since you have an a/c with sbi do check out and do let us know.

cheers,
jdm.

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