Best Deal for Day Trading

[itprodeepak]

Hi,

I have opened an Account with Almondz Securities. Its a new brokerage firm based in Delhi. I am using their services for past 3-4 months now. I am pretty happy with their services and have closed my Sharekhan account. Here are the details of Almondz :

1. Account Opening charge : Rs. 500/-
2. No Advance Brokerage
3. Intraday Brokerage Cash & Futures : 0.02%
4. Delivery Brokerage Cash : 0.20%
5. Options Brokerage : Rs. 50 per lot (This is quite high, try getting cheap rates.)
6. Cash Intraday Limit : 8 times, Funding : 4 times
7. Good Web Interface to trade or You can take their Software which is very good, comes with Charting with many technical indicators. Good Charting. Never Hangs. Order Execution is fast.
8. Cash Trades Intraday Trade Settlement Time : 3.10 pm
9. Customer Service is very good. One Representative is assigned to you at the time of account activation. You can call your rep. during market hours and they give very fast response.
10. Cash Trades can Take BTST, Short and Cover Intra

Hope, this can solve your broker search .

 

[rajputz]

I am not impressed with HDFC browser based ticker at all.

Negotiate with indiabulls, iam sure you can get 3 paisa intraday and 30 paisa delivery with no advance brokerage.
its best deal to start with.

Also india bulls account opening is Rs.900/- which is life time valid, no annual charges, what other charge,
Rs.750 will be charged for power Indiabulls activation, which is again lifetime charge and no extra payment for any updates.

So paying Rs.1650/- ontime is best deal and you save Rs.450/- every year on DP account maintenance.

hey thanks you are providing information about indiabulls....
i have some querries which i was unluckily unable to get from any one else.
i am posting it here...please clear them.

1. i have heard they provide 12 times margin?
2. does the power indiabulls have all the technical indicators?
3. how is the backhand customer support?
4. is brokerage negotiable upto 0.01% and 0.1% if the turnover is large?

thanks in advance

 

[rajputz]

I am not impressed with HDFC browser based ticker at all.

Negotiate with indiabulls, iam sure you can get 3 paisa intraday and 30 paisa delivery with no advance brokerage.
its best deal to start with.

Also india bulls account opening is Rs.900/- which is life time valid, no annual charges, what other charge,
Rs.750 will be charged for power Indiabulls activation, which is again lifetime charge and no extra payment for any updates.

So paying Rs.1650/- ontime is best deal and you save Rs.450/- every year on DP account maintenance.

hey thanks you are providing information about indiabulls....
i have some querries which i was unluckily unable to get from any one else.
i am posting it here...please clear them.

1. i have heard they provide 12 times margin?
2. does the power indiabulls have all the technical indicators?
3. how is the backhand customer support?
4. is brokerage negotiable upto 0.01% and 0.1% if the turnover is large?

thanks in advance

 

[jksuper]

rajputz, thanks for the wonderful inputs...was thinking of ventura (only for day trading) as their brokerage is damn cheap. However, I was keen to get your feedback on them.

They were mentioning that the square off time is Next Day ie Buy on Monday, square off on Wednesday morning. But, is this BTST?

For a first timer I thought, their plans:

3500 0.03% (Intra-day only on SELL) and 0.20% Delivery
5000 0.025% (intra-day only on SELL) and 0.17% Delivery

unlike all the other brokerages charge a bit high on intra-day ie. on both buy and sell transactions. and have a higher advanced brokerage slab ie. 10,000

Even though you already have mentioned the pros and cons of a few other brokerages, I would be delighted if you could give details about ventura.

Thanks in advance!

 

[rajputz]

rajputz, thanks for the wonderful inputs...was thinking of ventura (only for day trading) as their brokerage is damn cheap. However, I was keen to get your feedback on them.

They were mentioning that the square off time is Next Day ie Buy on Monday, square off on Wednesday morning. But, is this BTST?

For a first timer I thought, their plans:

3500 0.03% (Intra-day only on SELL) and 0.20% Delivery
5000 0.025% (intra-day only on SELL) and 0.17% Delivery

unlike all the other brokerages charge a bit high on intra-day ie. on both buy and sell transactions. and have a higher advanced brokerage slab ie. 10,000

Even though you already have mentioned the pros and cons of a few other brokerages, I would be delighted if you could give details about ventura.

Thanks in advance!

the plan i chose was 30000 brokerage for 1 year. on that they provide me 0.01% for intraday and 0.1% for delivery.
the BTST issue u asked me is quite difficult to understand.

i have done btst with them many times.

they provide 4 times funding for holding the intraday position. for eg. you have 1 lac in your account on monday and you have position of 4 lac. then you can carry this position untill wednesday morning 10:15 am. at that time the ventura will automatically square off your position (only the amount being in negative). (in this case if you do BTST then there is no problem at all.) you buy on monday and sell on tuesday or wednesday.

but when you buy on delivery with your own money i.e 1 lac then the number of shares show in your VBbuy quantity column in Holding Equity section. Now until and unless these number of shares you have bought doesnt get shown in DPbuy quantity you cannot sell them. if you sell them before that then their is a chance that they can get short sell. in that case the Exchange blocks your total money for 5 days and impose a penality of 5-8% on total buy amount. so that is a loss of 5-8000.

when i used their margin money for squaring off i never had a short sell or short buy. but when i buy with my own money then the chances are 70% that short sell is going to happen. it generally take 2 days to deliver the shares to your account. if you buy on monday, then you can dispose them on wednesday afternoon without any problem.

now these are the things that ventura guys wont tell you. i have used it and then came to know after taking losses. and also whenever you take their funding part to the next day you always gain lossses....

so i have made a rule with ventura that never hold any thing from their demat and trade purely intraday. if you want to hold then go for futures.

else i havent face any problem with ventura. but this btst issue is a problem.

 

[jksuper]

Sure, the BTST thing is pretty difficult to understand...will use Ventura only for Intra-day as per your recommendation. IS there any other thing I need to watch out with Ventura?

 

[rajputz]

Sure, the BTST thing is pretty difficult to understand...will use Ventura only for Intra-day as per your recommendation. IS there any other thing I need to watch out with Ventura?

if you are interested in BTST then buy or sell the futures....this is the only thing i have learned with ventura. if not future then sell the shares on third day not before that....rest is fine.

 

[atulaw]

Angel broking, India Bulls, Sharekhan.. All three are good.

 

[silas2]

entura rocks. I got account oened in 5 days . Good for intraday. Good software.

 

[rajputz]

entura rocks. I got account oened in 5 days . Good for intraday. Good software.

be careful while using it....