Confused - Sharekhan vs Icicidirect vs Hdfc vs Kotak vs Indiabulls vs 5paise

[kkm2012]

Guys, I am totally confused
i m just a beginner & i look forward for occasional trading with majority in mutual funds.
i have nt yet opened Dmat & i want all of your help in choosing a good broker for opening Dmat as well as Formy limited trading.


Thanks a lot

 

[bangerabs]

I have had experience with over 22 brokers. My second broking house was Sharekhan and is Sharekhan. I find that out of amongst 22 or 23 brokers I have had experience, the Sharekhan is the best in every respect, execepting s/w.(TT). But, here too, the features of s/w is no match to any other s/w. (Please note, I mean only features are good.) Customer service is also good. But now-a-days, almost every broker gives good customer services. Zerodha is also excellent, but some how, I am not happy with s/w. (NOW). India Bulls PIB is best s/w. But features of Share Khan's Trade Tiger is the best. They are most transparent, most helpful to customers; services are wonderful (but slower- may be due to large number of clients). In zerodha, mostly one gets answer within few hrs, but SSKI takes few days. However, I approach their branch, where any problem gets solved in no time. So, I opine that Sharekhan is the best broker and hence; since I have been with them for over 12 years and in between discarded over 21 or 22 brokers after wasting my time and money; conclude that Sharekhan is the best. Only request with Sharekhan is that they should improve their s/w., which fails every hr. (Even TT 2.2.0. 0 has several problems). In the past, I had e-mailed them several times, but now I stopped pointing out any short comings, since it is of no use. However, their classic website is the best as compared to any other trading website. Hope, one day TT will improve though there is no improvement for the last 11 or 12 years.

ICICIDIRECT (icicidirect.com) This is the part of Indias largest private bank ICICI bank.

Benefit of trading account with ICICIDIRECT
This account allows Cash Trading, Margin Trading, Spot Trading, MarginPLUS Trading Buy Today Sell Tomorrow and Call and Trade on phone in both NSE and BSE.
Investment in Mutual Funds and bonds online through your trading account with ICICIDIRECT.
You can make order at any time (Beyond market hour)
Money will not be debited directly from your saving account on trading.
Disadvantage-
Effective Brokerage per leg for squared off trades = 0.375% ( Less than Rs. 10,00,000/- (Rs. 10 lacs)
The brokerage involved is very high ( 0.75% ) ( Motilal Oswal brokerage is very less just .2% for delivery). You can not do day trading as a result. Also, the options are less flexible. If you go for intra day trading and the stock price falls, you cant take the delivery and have to sell at lower price. If you go for buy today sell tomorrow feature, you cant sell the same day. and the high brokerages eat away your profit.
Also whenever there is huge volatility in the market, the site stops working most of the time.
I would suggest not to go for ICICIDirect as these people charges hell lot of brokerage as compared to other brokers. Moreover, sometimes in intraday trades they square off your positions before 3:00 pm and sometimes they accidentally keep it open and settle it on next day. I think you can think of Kotak securities.
If you are going to invest for long term then choose ICICIDirect as its safe and secure except for high brokerage and if you are going to day trade then forget about ICICI.

ShareKhan (sharekhan.com)


Generally sharekhan charges 3 paise on intraday excluding taxes and after including taxes it comes out 5 paise. On delivery 30 paise excluding taxes and 48 paise including taxes.
ShareKhan provide online trading password through classic account, fast trade and speed trade. Out of these Classic and Fast Trade is free and they provide user id and password for these without any extra cost. Have you got it. And for Speed Trade they charge extra in the form of brokerage.
Sharkhan peple offering a brokerage model of 0.25 n 0.025% (yes, it is variable ) with an account opening charges of rs. 49/- only with an amc of 300/, operate by both online and phone.
sharekhan interface is quite complicated
sharekhan is good except customer care.


IndiaInfoline
Best for very small investors, terminal is too fast, as well as they offer 6th time exposure of your holding, no need to cash balance in your account.
There is no customer care number of indiainfoline where a person can call and tell his problem. The customer care number on the website is useless. When you call at that number, it says you are in queue number X you keep on holding to that call and after five minutes of repeating the message it says you are in queue number X-1″ !!!
Trading software is very easy to operate
toll free no- 66489000
one people said- Im satisfied with the software and service of indiainfoline, Ive been recommending this to everyone who asks about brokerage houses to me.


Indiabulls
Good for demat and trading charges. They have shown me a tariff of rs.1650 (one-time fee) for online trading account and demat charges and no AMCs.
deilvery-50 p and Intra-5p.
I heard some rumors that indiabulls doesnt allow buying IPOs
they provides ODIN software that is very good for online trading
both offline and online perspectives it can serve you quite well.
still another choice can be kotak
[All the above information may not be correct as it was taken from source like forums]. If any one want to correct it or want to add something please comment here.

 

[kaly422000]

recently india infoline , frequently stop updating in the middle . had to restart or have to change broadcast server. fast quote update and fast trade order and excution sud be main criteria for any broker terminal software. also ttadvance(iifl) takes time to start up . may be odin and tradetiger is fast to startup. sharekhan users can update, if there is any problem with frequent interuption of updating quote , inspite of good net or avarage net.

 

[RDutt]

ODIN is the best, followed by NOW

 

[advocatevalli]

very nice thread containing most useful information for new and upcoming investors...

thanks to all..

 

[Sujaybi]

Hi What About R K Global

 

[kaly422000]

sud(rather i avoid) avoid those broker who charges minimum brokerage, eg rs 20 or more for one single trade(not squire up). so not suitable for small intra trade in cash and sip. sharekhan among one of them.
better any broker charge some one time account opening charge, eg some thing like indiainfoline but not to have minimum brokerage.

 

[ubertrader]

try the flat brokers like zerodha and compositedge .... low cost and good service

 

[AnAtheist]

Try this link hope it'll hope.......

http://www.traderji.com/brokers-trading-platforms/73939-brokereage-house-comparison.html

Regards
AnAtheist