Need idea about which broker or bank to choose for online trading ???

Dear All,

Greetings ... I am Umesh from Mumbai.I am going abroad next month for job... In India I was just doing investing long term in stock market via calling the broker...But from next month I will have to look for other options.... I just wanted to know which broker / bank offers good 3 in 1 services (Trading/Broker account, Demat account & Bank savings / current account in an online platform) ???

I don't want to open an NRE / NRO as I have heard it is very expensive with lots of taxes, charges etc ... So I want to just open an normal 3 in 1 account before going abroad, so I am set once I reach there & do my trading from there.Just hope all things like trading, demat & payments can be done online ....

I have heard ICICI is very very expensive & you hardly save anything in it ... So I need help from you guys .....

Guys, your kind help would be appreciated....

Thanks & Regards,
Umesh

If you are looking for a 3 in 1 account (a savings account too), you'll have to open with a bank only. Banks are usually more expensive as compared to brokers.

However, if you are open to having a bank account separate from the trading account then many options are there.

1. For infrequent traders - smartTradeOnline
2. Frequent traders - zerodha
3. Aggressive trading - rksv

Hi Sleeping child,

As I would be staying, I just need to trade in the Indian stock market, keep updating myself with the demat statements, portfolio & make payments online for any trades done.... So what would you suggest ? Frequency of trade would be very few like 2 or 3 times a month... as I have nobody here, I would have to do everything online from abroad ....

Just need something in which my physical presence is not required & payments can be done online ,etc ...

Thanks & Regards,
Umesh Khiyara

P.S.: A friend was suggesting Kotak... What would is your opinion about it ?

I think almost every broker give online transaction facility from bank to their account(client account). You can ask broker house and select bank which is their most preferred bank.

Confirm with bank and broker houses.

Hi Umesh,
As Relish mentioned, in most cases you can electronically transfer funds to your brokers account (using NEFT/RTGS). This will not require your physical presence.

This will allow you to select a broker based on the cost and service.

Don't know much about how the service of Kotak is. Your friend might be a better person to guide you there. However, my guess is that on the cost front it might be a little higher.