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

[bangerabs]

Before opening, I suggest that one should check up the minimum brokerage, DP charges and other hidden costs apart from normal brokerage charges. Some charge brokerage at higher rate. In addition, some brokers charge minumum brokerage per trade!. I had experience with 5 paise, who charged 5 times dp charges on single sale order which was executed in small lots eah time. Sharekhan charges minimum brokerage per trade. Geogit also charged me mini. brokerage but I do not remember whether it was per contract note or per trade and I do not know whether it continues even now.

Hence, I request all trading members to check up and then decide. After all, all brokers are one and same with little variation here and there.

 

[koushik kumaraswamy]

how is sbi trading account any mews about it?

 

[gnr2]

Hi All

*****My First month in trading**********

I have started trading very recently and would like to share some of my exp so far in the last 1 month.

After reading through all the relevant threads in this forum, decided to open the dmat with Geojit. It took about 5 days and ~300Rs to get the online password and access. Transfered fund from my icici a/c for 1L and started the trading with the default facility.. web based trading. after few days, found it inconvenient and switched to tool based trading by downloading their exe file. For that they lock 4K from my account which will be adjusted from my brokerage if it crosses 10K in a year. So can consider this as refundable and still free.

So far so good except few slow responses in peak time for day trading. Some of the reports, charts are very premitive and not worth talk abt.

Trading have all necessary facilities to put stop loss triggers etc for beginers. Margin trading in the range of 20 to 40 %. Charges are very low. Daytrade .03 delivery .3. F&O 75 per lot. This will be comparable with margin commission from march as the lot volume will be more since march 09.

I had my up and downs in trading and still learning the tech.now in RED but recovering fast.

One point for beginers. Margin trading cutoff time is 3 pm and try close positions well before that. Alternatly trade in Futures till you get the grasp of the trading basics. And ofcourse one success secret... Pray the following mantra 10 times before go to bed every day..

...
...
..

STOP LOSS
STOP LOSS


When ever a buy/sell order is successful, place a stop loss order immediately with out second thought...with a max of 1% loss. You will not have time or mind to react while watching prices tumble or shooting up.


Good luck and more sharing later..

 

[Yash@finetuninglife]

Hi gnr2,

Just want to ask they charging 75 Rs per lot. This they where charging when nifty was coming 100 in one lot. Now future lot like nifty broken in two 50 lot each in this reagrd what they charge.

regards.

 

[gnr2]

Hi Yash,

The charges for F&O brokerage is 75 per side irrespective of the lot size.


OPT STRIKE Buy Sell Rate Brokerage Net Rate Net Amount
-----------------------------------------------------------------------
FUTIDX NIFTY 29JAN2009
0 50 0 2855.90 75.00 2857.64 142,882.21
0 0 50 2866.00 75.00 2864.26 143,212.78

You can see the actual diff in buy and sell is 10 points. 10*50 is the profit = 500. But brokerage taking the toll of it 500 - 75 -75 - 20 (misc) and the net profit for a 10point movement in nifty is Rs330.

From March onwards, all stock lots getting a boost but for nifty. Till then I decided to use margin trading as the main source. The only issue is, 3 oclock cutoff.

 

[welcomevijay]

dear friends, kindly told me which broker is fast and reliable for intraday trade,now i am using icici direct,which is slow and sometimes it is disconnect.so i lose some money.please help me

 

[aditya_b83]

hi all...i hink this thread has still not answered the main question...which is the best broker..? maybe...its not possible to answer the question..it looks like each broker has its own advantages and disadvantages....but the main issue when dealing with our hard earned money..is trust and reliability....so may i suggest that we begin to rate the brokers on these two parameters first? ...

 

[munde_77]

Hi Yash,

The charges for F&O brokerage is 75 per side irrespective of the lot size.


OPT STRIKE Buy Sell Rate Brokerage Net Rate Net Amount
-----------------------------------------------------------------------
FUTIDX NIFTY 29JAN2009
0 50 0 2855.90 75.00 2857.64 142,882.21
0 0 50 2866.00 75.00 2864.26 143,212.78

You can see the actual diff in buy and sell is 10 points. 10*50 is the profit = 500. But brokerage taking the toll of it 500 - 75 -75 - 20 (misc) and the net profit for a 10point movement in nifty is Rs330.

From March onwards, all stock lots getting a boost but for nifty. Till then I decided to use margin trading as the main source. The only issue is, 3 oclock cutoff.

Geojit charges 25+25+18 = total expenses for buy and sell Rs.68/per lot ..

 

[Chanakya69]

Bad starting experience with ShareKhan

Finally last month I opened the a/c with sharekhan and soon the trouble began. 15 days after applying for the a/c I received the welcome kit containing the password for which I had to call their cust. care several times. And after 15 days when I received it I opened my online a/c to find it completely empty. I had given a cheque of 25k at the time of applying for the a/c. I called the cust. care and asked them to deposit the money to my a/c, and then calling their cust. care several times in the next 5 days finally they diposited the money in my a/c. A total of 20 days wasted for nothing. One last thing, I had sent them an e-mail also about the undelievery of password/welcome kit, yesterday I received the reply for that e-mail. And at the end of that e-mail they had mentioned "Assuring you of our best services at all times".This last sentence made my blood boil......

 

[Shaileshrkr]

Friends I am new to this and need your suggestions

Friends Please help me out

I want to invest a part of my salary on Stocks. I have just heard of icicidirect but I dont what other brokers offer and which is really good. To get out of all the troubles and worries after opening the demat account I would like to ask you experienced people about the best of all the brokers. Please suggest me where to open an account(demat).
Thank you all for sharing your knowledge with me.

My mailing address is [email protected]
or [email protected]