As a serious responsible retail trader whom would you choose?

As a serious responsible retail trader whom would you choose?

  • HeroBroker

  • SimpleBroker

  • I don't know! I don't care!

  • Other thoughts


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#1
I request your active participation.

HeroBroker is a fictitious Discount Broker who not only outsources but also further outsources everything. So, basically they outsource their Trading Platforms (which they generally lie as their in-house built), their DP is outsourced, their Back Office is outsourced and “what not else” to vendors in the name of so-called provisioning of “User Experience on the surface” massively loaded with some good, some junk features. But in reality, the Trading platform and/or their back-end Server throttles to even handle simple order executions consistently since there are several multiple layers of resource hungry applications (or scripts or scrip-lets) running at same front end from several different angles. In reality not only User Experience goes for a toss but also their clients loses money because of this pathetic technological circus. They further take a step ahead to play a vicious blame game with their infamous cry-outs that, “Even exchange outages occur” and never take the responsibility on themselves. Why would they, after all it’s all outsourced!

SimpleBroker is also a fictitious Discount Broker who understands that Trading is a personal endeavor. They realize that personal Opinions (a.k.a. trading calls) are unique to Individuals, so, they thrive to provide liberty for complete back-test, complete freedom to customize or built own formulas/tools/charts/scans/analysis/reports for their clients. They also realize that they are on tight capital and would need to outsource different aspects of their business. So, to counter this instead of wasting resource on outsourcing or developing high-end platforms themselves, they provide free data-feed plugins to popular Technical Analysis tools like AmiBroker and shift their focus with their time and money towards ethical, clean, fast, reliable Order Execution and Management System using a simple “barebone” application like NEST/NOW/Odin.

Appreciate your comments! Thank you!

P.S. Best real-world alike example of SimpleBroker that comes to mind is “Interactive Brokers” (in-short IB). Only difference is that their TWS is far superior and far competent when compared to Nest/Now/Odin. Even IB now-a-days is charging at common Discount brokerage rates.
 

Loss_Lover

Well-Known Member
#2
simplebroker any day...... lot of injustice is done to retail traders in the name of "User Experience". You are right! There are brokers who spent months if not years for the development of simple UPI based apps. I wonder what would have happened if they would have shifted this focus on their OMS solely.
 

Loss_Lover

Well-Known Member
#4
How many Brokers even provide a simple paper trading software with virtual money before letting their client trade with real? The problem is not with the Brokers. They are doing business and thrive to make profit. So they invest onto a working model. IMO the real issue lies with us participants diseased by instant-gratification, lured by greed we jump into the well, then start to think in flashback and hope for a resurrection. :)
 
#5
I'm not sure if it's necessarily about participants' greed because then, one would have to conclude that participants in US & other places are less greedy, & that's why they have better technology, which I don't think would be accurate. I think the reason that Indian brokers can get away with bad service & fewer features compared to their Western counterparts is manifold. In part, of course, it's because India is a comparatively poorer country overall, so there are fewer people with significant amounts of money to invest/trade in the markets; then there's the fact that the burden of trading-taxes like STT, Stamp Duty, etc. kill a lot of traders, & without these taxes, a losing participant will lose less & survive longer in the markets, a marginal trader will make some profit while an already profitable trader will see a further upsurge in his profits, & this will help reduce the general stigma that surrounds the markets, investing & trading, that is, if there were more profitable traders/investors around, then that will increase total participation rate in the country, which will in turn, cause brokers to compete harder to acquire clients by investing more in their businesses to provide better services & features by improving their technology.

Right now, how many Indians PERSONALLY know someone who's making money in the markets? Hardly anyone does! And, that helps maintain a gloomy picture of retail participants in the minds of the majority, who think that markets are all about wild gambling but IF break-even points on every trade improve due to elimination of excessive trading-taxes, then things could potentially change.

Then again, I could be wrong but that's my thought-process behind lower participation rates in Indian markets, which I've read to be around 1-2% of whereas as you can see, in many countries, the participation rates are WAY higher than that, so as a broker, there's more money to be made by offering a better service to the customers.

stock market participation rate countries india US.png
 
Last edited:

Loss_Lover

Well-Known Member
#6
I'm not sure if it's necessarily about participants' greed because then, one would have to conclude that participants in US & other places are less greedy, & that's why they have better technology, which I don't think would be accurate. I think the reason that Indian brokers can get away with bad service & fewer features compared to their Western counterparts is manifold. In part, of course, it's because India is a comparatively poorer country overall, so there are fewer people with significant amounts of money to invest/trade in the markets; then there's the fact that the burden of trading-taxes like STT, Stamp Duty, etc. kill a lot of traders, & without these taxes, a losing participant will lose less & survive longer in the markets, a marginal trader make some profit while an already profitable trader will see a further upsurge in his profits, & these will help reduce the general stigma that surrounds the markets, investing & trading, that is, if there were more profitable traders around, & that will increase total participation rate in the country, which will in turn, cause brokers to compete harder to acquire clients by investing more in their businesses to provide better services & features by improving their technology.

Right now, how many Indians PERSONALLY know someone who's making money in the markets? Hardly anyone does! And, that helps maintain a gloomy picture of retail participants in the minds of the majority, who think that markets are all about wild gambling but IF break-even points on every trade improve due to elimination of excessive trading-taxes, then things could potentially change.

Then again, I could be wrong but that's my thought-process behind lower participation rates in Indian markets, which I've read to be around 1-2% of whereas as you can see, in many countries, the participation rates are WAY higher than that, so as a broker, there's more money to be made by offering a better service to the customers.
Thanks! Lovely piece of information...
Difference is that western or foreign participant's "Greed" is a factor of their "Literacy" and sound "Infrastructure". It's quite the opposite for us. We are decades behind to what our talent and potential deserves even worse far from realization at larger scale.
Do you have the updated numbers because in last 2-3 years Indian retail participation has increased exponentially?
 

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