Confused - Sharekhan vs Icicidirect vs Hdfc vs Kotak vs Indiabulls vs 5paise

Thanks lazytrader. I will look into ETFs & gold as investment options.
Which account among the ones I mention (ICICIdirect, HDFCsec, sharekhan) would you recommend? Is it worth paying extra for MFs & being with icicidirect for my requirements?

Also, with a brokerage site like sharekhan, will investing in SIP not really be automatic? For example, will I need to keep transferring the SIP amount from the bank to sharekhan periodically, prior to the SIP date?
In that case 3-in-1 account (like ICICI or HDFC) would be convenient, right?

What are the tax implications? My wife is not working, so would it make sense to open any of these accounts in her name to avoid paying tax?

SIP whether you open an account with brokerage house or not will not matter.
SIP's can be deducted from you bank directly so don't even need a broker. Just sign up for one and it will keep going.

3-in-1 is not recommended due to higher costs. Better go for a proper brokerage house. Whichever one you chose, since you are just a beginner you will need to find one which has good service. That will depend on your branch and not the broker.

If you trade less then brokerage cost will be higher. Can't help that.
So pick a plan that doesn't require AMC. Demat will always draw an AMC of about 300-400/yr regardless of broker.

Opening account in wife's name will be better for tax purposes. But remember if the income become higher than taxable limit then file tax or else you'll have problems later.

Imp: Never keep money with your broker unless you have to trade with it. Transfer money to your account with you have to buy, as soon as you sell withdraw it. if they see idle capital then they might trade with your money.

i agree with LT n i myself believe that.

So you mean, even if I start the SIP thru say Sharekhan (which I would to avoid paperwork, make it fully online), then it will directly come out of my bank account?

From the poll on this site & also reading other reviews, etc I think I'll go for Sharekhan. They even have a branch near my home.

I guess this is an advantage with 3-in-1 account of banks. Would even reputed, large brokerages with online platform pose a risk? (Sharekhan?)
Anyway I think the policy you're advocating is 'better safe than sorry'..which is wise.

Many thanks

I meant stock analysis(research). It is good to know what these analysts think (and compare with oneself).
Anyway, thanks for the info.
Can somebody enlighten me on the lowest possible intra-day charges.. people like edelweiss offers as low as 1 paise(motilaloswal used to have this).
Does anybody know better than(or equal) to this.

1paise on Rs.100 is 0.01% is that how much you are going to get for intraday?

--So you mean, even if I start the SIP thru say Sharekhan (which I would to avoid paperwork, make it fully online), then it will directly come out of my bank account?

I don't know about getting SIP through sharekhan. If you want an SIP get the form fill up your bank account number and they'll deduct it automatically. Looks for CAMS offices nearby. That will save entry load.

--I guess this is an advantage with 3-in-1 account of banks. Would even reputed, large brokerages with online platform pose a risk? (Sharekhan?)
Anyway I think the policy you're advocating is 'better safe than sorry'..which is wise.

Banks or brokers don't do that with customers money. If they do that it will give them bad publicity and will lose customers. It's the franchisee and the RM's who get commission on your brokerage generated will do that. I don't mean to say they will trade to make a loss for you. they will try to make profits so that they can trade more but if you are trading for generating brokerage then it's not going to work. :lol:

I want to keep the investments online, including SIP. so please advise. If it comes out of the bank even when done through sharekhan (or other, like india infoline) then it is convenient. Else if I have to transfer money from bank to the trading platform each time, before the SIP date, that's very inconvenient.

Thanks!

Dear gvnarendra
"You can not transfer the demat a/c to another a/c. But you can open a different a/c with Indiabulls and you can transfer your shares to your new a/c. On the contrary you need not open any new demat a/c. You can request them to connect your existing demat a/c with Indiabulls trading a/c."

Not understood the above.
If we havd Demat account with SharKhan (With Some Shares in it)
Can't it(Demat Account with Shares in it) be Transferd to some other brokers ?

Kindly Clarify

Regards
Kanna Surve

Going for SIP from ELSS has a disadvantage. Every SIP will have to stay invested for 3 years from the date of investment. So in case of SIP invest in lump sum.