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

[Mangafreakz]

Thanks.
which broker you currently having ?

 

[surya_sun]

Thanks.
which broker you currently having ?

MOSL right now and am looking for better one

 

[[email protected]]

Hello All,

I am new to investment in public sector, so my first option is SIP in MF, as I donot want to enter in share market this early, being too novice for that.

I want to know which one is the best online trading account, specifically for SIPs.

Most of the posts I have read concerns with the trading, I want to know in terms of investment.

I am still not clear whether there is any seperate thought to be given, in selecting online trading account for trading and investing.

I feel great, if some one tries to clear my doubt.

Thanks,
Saundaraya.

 

[nameeta15]

I have account with sharekhan. Sharekhan debited my a/c with "DEMAT AC Charges debited towards account" with 330 in May and 83 in September. What are these charges? It must be different from AMC.

 

[lazytrader]

Everytime you sell shares from your demat account Sharekhan will charge you for it. Rs.10-15 is the usual charge some like SBI charge Rs.20. Taxes extra.

 

[lazytrader]

Hello All,

I am new to investment in public sector, so my first option is SIP in MF, as I donot want to enter in share market this early, being too novice for that.

I want to know which one is the best online trading account, specifically for SIPs.

Most of the posts I have read concerns with the trading, I want to know in terms of investment.

I am still not clear whether there is any seperate thought to be given, in selecting online trading account for trading and investing.

I feel great, if some one tries to clear my doubt.

Thanks,
Saundaraya.

Better go for a tax saving MF (ELSS) there are many with SIP option from HDFC, Sundaram BNP Paribas, SBI Magnam etc

 

[anandcs]

Hi,
I am using share khan demat account.The experience with sharekhan is good.I personally feel there is competition only between sharekhan and ICICIDIRECT.I will list the difference between the two brokerage houses.

Conclusion:
1)The things i like in ICICI DIRECT is,to apply and sell mutual funds units online without the interruption of agents
2)BTST(buy today and sell tommorow)
3)Indians 2nd biggest bank
4)After hours trading(can place a buy or sell order after the market is closed,so that it will be executed in the next day)

The sharekhan lags the above mentioned points,If the sharekhan is able to provide these facilities in future,you can opt for sharekhan

But personally i feel,ICICI DIRECT is best ,since you get all the facilities under one umbrella even though their brokerage is little higher than sharekhan!!!!

I guess things have changed since this post. So below is my query:

My requirements are slightly different from most people.
I want to invest online in mutual funds. I may also trade, but that is very limited - perhaps few times a year only. Hence I wish to open an online trading cum DMAT account where I can both trade & invest in MFs. I've narrowed it down to 3 options:

1. ICICIdirect - main drawback is that they charge Rs 100 or 1.5% (lower of the 2) for each investment & Rs 30 or 1.5% for SIP. So if I invest 10000 each into 4 MFs I end up paying Rs 400 to ICICI. Also if I invest 5000/month in SIP I pay Rs 360. So a total of Rs 860/year to ICICI for an investment of 1 lakh! I feel this is too high. Are these charges justified & worth it?

2. sharekhan - They seem to offer all the MF houses that ICICI also offers & no brokerage for each MF investment (SIP or otherwise). So is it a good alternative to icici?

3. HDFC - I was told the DMAT/trading account doesnt allow one to invest in MFs. For MFs I'll need a separate investment account (since I have savings a/c). So the AMC is nearly double - Rs 100/quarter for investment account & Rs 500 for trading account. Any thoughts on this?

Many thanks in advance.
Anand

 

[lazytrader]

I'm not aware about the way MF's are held when purchased online.

As such if you open an account with one of the brokers you will need a demat account for which, from what I know, you will be charged rs.350 minimum/yr

If you open a trading account and only trade a few times a yr then you will be charged high brokerage.

If you can't actively monitor you equity holdings then I suggest you stay away from stocks totally. Having a trading account does help if you want to buy Index/gold ETF's which are considered excellent investment options for long term.

 

[surya_sun]

Hi All,
Do we have any comparative workings (study) by different brokers for
1> charges
2> service quality
3> margin multiples (ie 5 times, 10 times...)
4> back office support
5> charts
6> analysis
7> tips and calls

rgds

 

[lazytrader]

Can't do comparative study for all:

1> charges - depends on your RM/branch
2> service quality - same as above
3> margin multiples (ie 5 times, 10 times...) - same
4> back office support - can be compared based on platform
5> charts - same as above
6> analysis - (I though you wanted charts to analyse yourself)
7> tips and calls - Rubbish most of the time, they'll make you trade so much that you'll give them half your earnings.