Brokers are eating my hard earned profits

[rakamaka]

Nowdays in this internet aget of 2012, all stock brokers have similar technological(computers, maintainance, personel etc) costs, Yet they charge from varies 0.30 to 0.97% for each transaction. Why?
Now how is broker's cost different on executing Rs 1000 or Rs 100,000 trade? Why? I can understand difference betn executing 100 shares vs 10,000 number of shares, but transaction amount?
Now worst part is, I do all the research about company, speculate, take risk, buy stock worth say Rs 20,000. I watch it vigilantly, grows to 30,000. Now broker charges transaction fee on 30,000 when I sell. WHY is broker eating my hard earned profit of Rs 10,000?? Broker is not managing my stock like mutual fund, right?
It is high time for demanding flat brokerage charge per transaction...Should write to SEBI or other authorities...
Thanks

 

[timepass]

The older brokers are still stuck with their old ways, while there are some pretty good newer brokers in the market. You can look up Zerodha, RKSV or RK Global for cheaper brokerages and good service. Decide on the broker depending on how frequently you trade.

 

[rakamaka]

I have no problem brokers charging whatever they like. But why they are eating my hard earned profit. hey I took a risk and made profit. Why should broker be part of that. it is like paying another extortion money.
Thanks for suggestions. I will look into Zerodha and RK global.

 

[jlmalhotra]

Many brokers charge heavily on stocks trading below Rs 66.00. Check with your broker if he does

 

[rakamaka]

Price of stock doesnot matter. My objection is brokers are charging transaction fee on my earned profit. They are brokers and not money managers.
It is time to call for flat fee brokerage.