Angel broking: Cheap brokerage and excellent service.

[karan.]

Aloyraj Sir, why are you not interested in Angel broking....As they also provide 0.01% intraday brokrage...Are there any issues with Angel broking?
M looking to open an account with them

http://www.traderji.com/brokers-tra...angel-broking-pathetic-brokerage-service.html

 

[alroyraj]

http://www.traderji.com/brokers-tra...angel-broking-pathetic-brokerage-service.html

Which is what I mean when I refer to having a broker who has a good platform and technology enabled so that we can bypass the RM and do it ourself eg fund transfers,payouts etc. That way Indiabulls is quite good even though the RM calls every day to verify things. This review was at the back of my mind too. If the broker doesnt have good features and technology then what can the RM do one can and should not expect them to do miracles.

 

[kdhrubo]

Just to let you know after promise the Angel Branch manager has not yet send me the IDFC Infra fund form. I am not interested in reminding him. I will go with IIFL for this.

 

[kdhrubo]

Now I just checked my ledger, Angel seems to have started the process of refunding the account opening charges as promised. They have reversed franking charges of Rs 20 + Rs 20. Let us see if they reverse the charges for demat a/c opening as promised.

 

[chetanbang]

pal, its .001% , sorry for the mistake, waise u shud've understood, that it cant be .01% as it is way too high.

Hey guys, i am digging an old post. Here, Mintu millionaire says for a turnover of 30 Lakhs he is paying only 0.001% brokerage, i.e 30 rupees brokerage for 30L. I can't believe this is possible... but he will have to pay more than Rs. 650 in taxes.
For every lakh of trade, he is paying only 1 Re brokerage. unbelievable.

So my question is, do these brokerage firms also get a cut in taxes? If not, how do they benifit by giving such low brokerage(0.001%)?

 

[kdhrubo]

I guess true story will only be revealed if our friend Mintu shows us some contract notes.
I personally feel this is absurd or there is something which we are (high chances we are not) missing.
I do not have such high volume I also get 10p delivery brokerage from Angel. My volumes are no where near what Mintu makes. So far 3 trades of 50k in 3 weeks.

 

[chetanbang]

Mintu is a day trader. 30 lakhs is possible but the the brokerage he is getting is confusing me.

 

[alroyraj]

25 to 30 lacs is like 8-9 nifty contracts, I am sure he meant 0.01% intraday rate.That 0.0001% rate is a typo,for this rate turnover has to be in crores or you must be a sub broker. He has mentioned the correct rate on the first post. What he wrote in post 43 was a mistake. http://www.traderji.com/brokers-tra...brokerage-excellent-service-5.html#post350447

 

[kdhrubo]

Yes least intra rate for Angel is 1p (both side) on intra
and on FUT its flat 50Rs on intra and 100 on delivery.

 

[kdhrubo]

Amit - when you think 30k for delivery for that 30 rs min contract note, the brokerage is no longer cheap. Some people like me have learnt over time to buy in slots be patience and not rush and jump. So dont always get allured by low brokerage like me @ Angel.

Shrishant - now which broker are you advertising, and please let us know your charges in details.

I am also looking at SHRIRAM INSIGHT, they seem to have minimal charges and also my brother in law has been with them for ages, no complains.