best way to trade broker/indiabulls/icicidirect

#1
with broker < no offence please excuse me just being frank> the transparency is not there. at the back of yr mind u dont know wht exact price did he sell or buy???

which one would u recoomend for day trading/short-term as i have to decide till date was trading on my cousins account with his broker.

please advice

should i stick to a broker/ get a login with india bulls< heard they hv a very stable platform / or iccidirect or sharekhan????
please people suggest me with yr pro's- cons

iam delhi based

looking forward to yr replies



we can have a poll on this too ..amazing topic please reply
 
#2
I have used ICICIDirect.com. Here's my opinion :

Pros :

1) Trade in both BSE And NSE.

2) Invest online in IPOs, Mutual Funds, GOI Bonds, Postal Savings Schemes all from one place. You can also get your insurance through ICICI Lombard General Insurance.

3) Secure and Safe. No need to worry about credit/debit of shares or the amount. Since it is very well integrated with your demat and Savings account, the cr/dr always happens on time.

Cons:

1) If you are considering 'trading' with I-Direct, I suggest you stay away. Strictly not for Day-Traders.

First, their brokerage is on the higher side. Even if you are the Buy-And-Hold Long-term investor, you will lose approximately 1.65% to brokerage and Service Tax (Brokerage of 0.75% and ST of 10.2% on Brokerage).

For Day-Trading, they offer Cash (Beware, Normal Delivery Brokerage is charged on one leg of the trade), Margin and Margin Plus. But not all stocks are available under Margin Plus.

2) Their site is too slow. When you place an order, you have to go through maze of screens (Web Pages) :

a) Go To Buy/Sell Screen, Enter prices. You will be taken to a confirmation screen.

b) By the time you get to Confirmation page, the price would have already changed. If you are on a Dial-up connection, it takes a while before the confirmation of the order is shown.

c) Check Order Book. In case you want to modify the order, you have the same two pages to load. That takes a while.

3) Do not expect the site to be "up and running" all the time. Even during trading days, the site may go down. In the past 3-4 months, it has already happened twice or thrice.

4) As you know, streaming quotes are not available. I heard that it is available for users who turn up good volumes. But, you cannot negotiate on brokerage as you can do with brokers.

I think there's a thread on the same subject else where in the site. Search and find opinions on IndiaBulls, 5Paisa, ShareKhan.
 
#4
esanthosh said:
I have used ICICIDirect.com. Here's my opinion :

Pros :

1) Trade in both BSE And NSE.

2) Invest online in IPOs, Mutual Funds, GOI Bonds, Postal Savings Schemes all from one place. You can also get your insurance through ICICI Lombard General Insurance.

3) Secure and Safe. No need to worry about credit/debit of shares or the amount. Since it is very well integrated with your demat and Savings account, the cr/dr always happens on time.

Cons:

1) If you are considering 'trading' with I-Direct, I suggest you stay away. Strictly not for Day-Traders.

First, their brokerage is on the higher side. Even if you are the Buy-And-Hold Long-term investor, you will lose approximately 1.65% to brokerage and Service Tax (Brokerage of 0.75% and ST of 10.2% on Brokerage).

For Day-Trading, they offer Cash (Beware, Normal Delivery Brokerage is charged on one leg of the trade), Margin and Margin Plus. But not all stocks are available under Margin Plus.

2) Their site is too slow. When you place an order, you have to go through maze of screens (Web Pages) :

a) Go To Buy/Sell Screen, Enter prices. You will be taken to a confirmation screen.

b) By the time you get to Confirmation page, the price would have already changed. If you are on a Dial-up connection, it takes a while before the confirmation of the order is shown.

c) Check Order Book. In case you want to modify the order, you have the same two pages to load. That takes a while.

3) Do not expect the site to be "up and running" all the time. Even during trading days, the site may go down. In the past 3-4 months, it has already happened twice or thrice.

4) As you know, streaming quotes are not available. I heard that it is available for users who turn up good volumes. But, you cannot negotiate on brokerage as you can do with brokers.

I think there's a thread on the same subject else where in the site. Search and find opinions on IndiaBulls, 5Paisa, ShareKhan.

thanks a lot . my heartfelt thanks to u i never knew people can take so much pain n effort for other doubts. really really appreciate it.


any one else for views on india-bulls as i heard its the best there is.... hows it compared to a regular broker..please advice
 
#5
Since nobody has yet posted to this thread on IBulls and 5Paisa, I yet again share my own limited views on both :

* IndiaBulls has a product called Power IndiaBulls. It is a Java based application. I don't know how Java application like this (with real-time streaming quotes) will work if your computer's configuration is not at the higher end. It is better that somebody who has used PIB with 256 MB RAM and Dial-up connection.

The Charges are nominal compared to I-Direct :

Brokerage for Delivery is 0.5%, Intra-Day is 0.1% for each Leg

Initially, they charge Rs. 250/- for A/c Opening and Rs. 750/- for activating PIB. If you don't want PIB, they have a Web based (Java Applet) trading system.

Though, I-Bulls offers both Cash and FNO, as of now only NSE is available. Their rep said that BSE trading is already available in certain cities, but not in all centres.

One thing worth remembering is that I heard horror stories of people who bought on their recommendations only to see the value of stocks plunge. If that story is true, then stay away from their recommendations. I have not come across very many negative reviews about their trading system. They will give you a demo - Take your decision based on that.

* I have been using 5Paisa's Trading Terminal for the past 2 weeks and am impressed by it. First, even their rep was sceptical whether their system will work over a dial-up connection. It does work and works well.

Brokerages : Delivery - 0.25%, Intra-Day : 0.07%
Min. Brokerage is 5 Paisa per share.

One thing I miss from I-Direct is placing of offline orders. You place an order by Friday night (provided their site is not down due to "maintenance"), check out on Monday evening if the trade did take place. The alternate way is to call your local office and ask them to place an order on your behalf.

With Trader Terminal 2005, both BSE and NSE are available (Trader Terminal only has NSE, so be careful when selecting the product) along with NSE F&O.

The problem with the web site is none of the pages are secure (https://). So it is theoretically possible for some hacker to eavesdrop on the entire thing. Not the case with IndiaBulls or I-Direct.

Since my trading time with them is so short, I cannot comment on support at this stage. But, I do get replies to my e-mails; not often did I get a reply from I-Direct.

Still, I-Direct scores over the rest in offering IPOs online. Apart from I-Direct, I know ShareKhan offers the facility, but no others so far.

* With SSKI / ShareKhan, they offer web based NSE trading. The web site also has a Java Applet for streaming quotes. But whatever little demo I have seen of it, I figure you are better of paying higher brokerages with I-Direct and availing the Pros I mentioned. Their brokerages must be same as IndiaBulls, I suppose. Their trading terminals are certainly not for "investors", only for active traders. That is because, you have to trade a certain volume every month, otherwise you end up paying a fine. I heard rates are abt Rs. 1,000/- per month. If you do not trade enough, then they deduct something like Rs. 500/- for each failed month. I am not very sure about the figures though.

Hope this helps.
 

sh50

Active Member
#7
People keep cribbing that Sharekhan has problems in executing orders at day beginning and day end. Their staff told me that it was there in the cash segment(being sorted out) and not in the futures segment.Any experiences.
 
#8
I am 5paisa customer and been using trader terminal for the past 3 years,i am very much satisfied with the features of trader terminal and even their brokerage structure is very competetive ,if some one is intrested in taking 5paisa terminal,plz email [email protected],com for account opening and other information.
 
#10
nkpanjiyar said:
More info on brokerages of various online firms can be found on at

http://www.traderji.com/showthread.php?t=1835&highlight=brokerage

cheers,
nkpanjiyar
sir iam impressed beyond words. ur insight to all of this is just amazing .please help me decide which one shld i choose among india bull/ icic direct / 5paisa/sharekhan.

my main usage will be day trading. nothing heavy but descent amount . say abt 3lac perday types and short term trading max 30 day waiting types.

esanthosh has strongly discouraged icicidirect which seems justified,<slow terminal/not suitable for day trading/high brokage>

my criteria is 1> brokage 2> ease of use vis interface.

personally i hv seen indiabull and its fast n good no clue abt 5paisa. whts the differnce in their brokage as that is a important factor for me.

i dont mind paying advance for brokage as i wld be trading on an avg of 3 lac per day.

plzplzplzplzpl advice . iam seriously looking forward to your word.

does any of theese providr hv option for offline order.
please reply
 

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