Broker for Expiry Day Intraday Trading

#1
Which broker are you using for expiry day trading?

I need a broker who provides around 8-10x margin for intraday index option selling and a very low brokerage (< Rs. 20 per trade) or around Rs. 5 per lot.

At the same time, I need them to be reliable.

So far I have Angel Broking and 5 Paisa in mind. Any feedback on these two brokers?
 
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#4
Which broker are you using for expiry day trading?

I need a broker who provides around 8-10x margin for intraday index option selling and a very low brokerage (< Rs. 20 per trade) or around Rs. 5 per lot.

At the same time, I need them to be reliable.

So far I have Angel Broking and 5 Paisa in mind. Any feedback on these two brokers?
As you gonna be on options selling side and need margin i will highly suggest to trade with a full-service broker and maintain a good relationship with them. i am suggesting a full-service broker not for their suggestions in your trade decision but if they try to trick you then you can visit their office to sit on their head. be aware brokers does fraud if you have high funds in your account.
 

Bro

New Member
#5
Kotak securities and hdfc sec allows margin as per your capital. Those are reliable setups. They have fixed brokerage plan too.
Astha , angel broking or may be wisdom capital for big margins upfront. But I won't trust those platforms blindly while taking big risks.
 

Schatz

Well-Known Member
#9
there is a problem with icicidirect.... last time i checked they used to auto close ur sold options even if u had a corresponding hedge in place which makes it a limited risk trade but they check individual leg for risk metric which is incorrect... e.g 11800 PE short and 11700 PE long... now if Nifty goes to 11500 ... ur 11700 acts as hedge and limits loss to max 7500 per lot.. but ICICIdirect would close ur short leg and leave the long leg open.. making it even riskier as ur one leg is open and not hedged...
 
#10
there is a problem with icicidirect.... last time i checked they used to auto close ur sold options even if u had a corresponding hedge in place which makes it a limited risk trade but they check individual leg for risk metric which is incorrect... e.g 11800 PE short and 11700 PE long... now if Nifty goes to 11500 ... ur 11700 acts as hedge and limits loss to max 7500 per lot.. but ICICIdirect would close ur short leg and leave the long leg open.. making it even riskier as ur one leg is open and not hedged...
I am aware. As I will only have strangles on expiry day, I think it should work fine. We will have to immediately take a new position in that case. A lot of adjustments! Can't leave the screen even for a minute.
 

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