Achiievers Equities or Trade smart online

#1
Dear traders,

I have an account in trade smart online, recently i checked with Achiievers Equities and thr brokerage is low, so i'm planning to open an account with Achiievers Equities

Pls let me know ur opinion on Achiievers Equities or/and Trade smart online broker.

Those who hv account with Achiievers Equities pls reply ...
 
#3
i hv nt traded in options but I'll trade in options from nxt week.

at present i trade 2 lots(bank nifty or nifty) and no of trade is 2 or max 3. so it is like 4 or 6 lots.

so u recommend me to stay with trade smart online.
 
#4
For options trading Achievers is better.
Because turnover charges are applied only on options premium not on total turnover.So higher turnover charges won't affect options trading.
But for futures trading their turnover charges is 390 / crore.
Achievers customer support only available in hindi only.
They are not mentioning the end date of Mega value plan in the backoffice.
If you don't know the exact end date of MVP plan you will be ended up with few thousand extra brokerage charges.
Their charges in times of without MVP is tooo high.It is not good for discount broker.It is a sort of hidden charge.
But their fixed monthly brokerage for F&O definitely better than sto.

If you do lesser trades you may consider VPS. The best thing with them is their turnover charges are lower.

The higher turnover charges(achi) will increase with the number of lots traded .But with per order plan in VPS or other broker having low turnover charges will not increase with the number of lots. In VPS only 10 buy+10 sell+5 service tax=25 for a buy and sell.
the 25 will not increase with the number of lots because there is no hidden charge.


One famous discount broker charging 190 per crore for turnover charges and 200 per crore for clearing charges and extra 100 per crore for pocket money.So totally 490 per crore. Plan is 20per order.

20 for buy 20 for sell 10 as service tax and extra 30 as turnover charges . So total 80 per round trip.This 30 mentioned will increase(double triple) with the number of lots traded.

If you trade with one or two lots in future go for achi. If you trade with more lots in a single trade go with VPS. If you trade More lots and more number of trades per day find a good broker without hidden charges and low fixed monthly brokerage.

India procon offering 1000 per month for currency and nse futures both.But their turnover charges is 390 per crore like achi.

You should think about 390 turnover of achi and their pricing without MVP plan and 25 total per round trip of VPS.

Veera.
hi veera,
now only i checked the india procon website they mentioned that their turnover charges is 190 per crore for futures,115 per crore for currency and .05% on the premium for options but you mentioned 390 per crore.can u get some details.
 
#5
Hello Verra

Nice analysis, just one more point to consider Stamp Duty

Typically it is Rs 200 / Cr for Brokers operating out of Maharashtra (Mumbai). Zerodha in Karnataka have max limit on stamp duty of Rs 50/- per day. But by charging Rs 300/- more as hidden/paded Transaction charges, they effectively deny the benefit of this to traders.

In fact traders with small volume (less than 25 Lakh per day) have double disadvantage.
With Zerodha they pay more Stamp duty as well as they pay more than double transaction charges as compared to others.



Cheers
::thumb::
 

soft_trader

Well-Known Member
#6
Hello Verra

Nice analysis, just one more point to consider Stamp Duty

Typically it is Rs 200 / Cr for Brokers operating out of Maharashtra (Mumbai). Zerodha in Karnataka have max limit on stamp duty of Rs 50/- per day. But by charging Rs 300/- more as hidden/paded Transaction charges, they effectively deny the benefit of this to traders.

In fact traders with small volume (less than 25 Lakh per day) have double disadvantage.
With Zerodha they pay more Stamp duty as well as they pay more than double transaction charges as compared to others.

Cheers
::thumb::
Your analysis is perfect. This is the reason why I consider Zerodha to be the costliest among discount brokers.

There are several discount brokers in the market now with better deal for traders. Brokerage has gone down enough, & I don't think there is much room for competition for brokerage rates. What I think is that the next revolution in the brokerage industry lies in improving the trading platform, and I am sure that this is going to come soon.

Just waiting for the days when this crap drama of ODIN/Nest ends.......
 

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