Brokers Wishlist: What do you want from your broker?

#1
Hi everybody,
I'm doing a survey for a broker and we want to introduce new services and new brokerage rates. Please help us serve you better by answering the questions and adding whatever you might want to it

1. Would you prefer per order brokerage over volume percentage based? (i.e not per lot or number of trade in which an order is executed, eg. if you want to buy 20 reliance or 10 reliance and even if order gets executed in 2 trades you will only be charged once)

2. Would you pay a monthly fee and get a number of trades?

3. Do you like the relationship manager system? Would you like to have a complete web based experience instead?

4. What would you use more? Call and Trade, Online Trading or Mobile Trading?

5. Would you like a free laptop or mobile phone if you maintain a fixed amount in your brokerage account?
 

nac

Well-Known Member
#2
1. Would you prefer per order brokerage over volume percentage based? (i.e not per lot or number of trade in which an order is executed, eg. if you want to buy 20 reliance or 10 reliance and even if order gets executed in 2 trades you will only be charged once)
This sounds like you are new. Even if order executed in 10 trades, there will be charged once, not 10 times. If any broker says Rs. X per execution means per order not like an order of 20 shares executed in two trades.
2. Would you pay a monthly fee and get a number of trades?
I guess I would pay monthly fee and get a number of trades(Its good only if you trade every now and then
3. Do you like the relationship manager system? Would you like to have a complete web based experience instead?
Complete web based, But still need RM at some point.
4. What would you use more? Call and Trade, Online Trading or Mobile Trading?
Online Trading.
5. Would you like a free laptop or mobile phone if you maintain a fixed amount in your brokerage account?
Did you mean FREE LAPTOP/MOBILE PHONE?:clap::clap::clap:(just for maintaining some amount in my account) Please refer me, if you find any broker who got such an offer.
 

alroyraj

Well-Known Member
#3
Hi everybody,
I'm doing a survey for a broker and we want to introduce new services and new brokerage rates. Please help us serve you better by answering the questions and adding whatever you might want to it

1. Would you prefer per order brokerage over volume percentage based? (i.e not per lot or number of trade in which an order is executed, eg. if you want to buy 20 reliance or 10 reliance and even if order gets executed in 2 trades you will only be charged once)
Per order at some great rate like Rs 9 by RK Global.The volume rates are impractical like for CanMoney its at the lowest slab 0.07% which is high for intraday itself.
2. Would you pay a monthly fee and get a number of trades?
After a certain threshold, I hold.Basically the best option is where based on the number of trades, you can be upgraded to a better brokerage structure .Some brokers like Chola offer this.

3. Do you like the relationship manager system? Would you like to have a complete web based experience instead?
A complete online experience is good yet to clarify any errors in the contract notes,investment calls not arriving by mail,clarifications on features or brokerage some finer aspects like min brokerage per share ( prevents generating volume) we need an RM.

4. What would you use more? Call and Trade, Online Trading or Mobile Trading?
Online Trading. Call and trade is not so practical, and Mobile allows just viewing the prices not trading per se.

5. Would you like a free laptop or mobile phone if you maintain a fixed amount in your brokerage account?
Good offer, majority on Traderji will join, am due for a new laptop. :clapping:

Other key points you missed are an Exe platform with graphing feature and technical indicators, ability to export the feed to excel (called data extraction),good back office records, a good add on software like angel pda for maintaining personal records on trades and tax implications, price alerts, workspaces, stock screener by criteria like return on equity etc,
 
#5
Hi munde,

(My query is not related to this thread. But I read about your brokerage somewhere in this forum. ..so thought of posting this query here...)

I am having an account with India Infoline. My intraday brokerage is 0.05%. Is there any way to negotiate with RM and reduce it by showing Contract Notes of others? what should be the min. volume generated to get brokerage of 0.02% or less?

Thanks
Ragav
 

nac

Well-Known Member
#6
^ Ragav even without showing anyone's contract note, you can reduce it to .03% in IIFL. If you are good at negotiation you can even bring down to .025%. If your volume is good, you can bring down further...
 

RAGAV

New Member
#7
nac, my RM told me that the intraday brokerage will be reduced to 0.03% only if I generate volumes of Rs 2 lakh per day. I don't know how to deal with him any more. Can I take this matter with any branch official in Indiainfoline?
 

nac

Well-Known Member
#8
^ How much is your normal volume?

I don't think taking this matter to any other branch official will do good. May be that's possible, if any one opening a franchisee of IIFL and approaching you and offering lesser brokerage. Then you can change your account to this person.

And my suggestion, If your volume is very less, don't bother much about brokerage.

Even before opening account I negotiated and got that brokerage. Since you got your account with them already, here their hand is high. And your volume seems to be low.
 
#9
it would be better to open atleast 2 demat accounts in two seperate brokerage firms. Bcoz if one is not giving service u can choose the other immediately
 
#10
nac, My volume is low. It won't exceed 30000 per day. I don't trade daily too. maybe around 10-12 days a month.
I have a friend whose RM in Indiainfoline directly gave him 0.03% brokerage. He too doesn't trade daily. So I thought maybe getting in touch with that RM might help.That is the reason I asked whether contacting any higher official is a good idea or not.
Thanks for your suggestion.
 

Zerodha – Open Paperless Account

Open online account with Zerodha. Free delivery trading and Max Rs 20 for Intraday, F&O, Currency and Commodity Trading. Intraday High leverage with MIS, CO and BO.

Name:Phone:
Email:City:
State:
Are you a day trader?