Discount Broker Comparison

[bpr]

In light of the recent zerodha glitch.
I think it is high time people should ask SEBI to chnage rules so that traders needs to be compensated in case of broker glitch.
The blank sign away of rights at acccont opening that Exchnage and broker not responsible for glitches becuase traders doing trades over internet is bit too much.

If a user loosing access due to his internet /hardware falilure then it is user fault. but if the fault is due to broker infra then broker needs to comensate.Similalrly if the fault is due to exchnage then exchnage needs to comensate plain and simple.
We can easily established the root cause and find the culprit.

SEBI wake up !!!

 

[CougarTrader]

SEBI will never wake up to the cause for retail short-term traders!

SEBI has always wanted to institutionalize trading or investing or anything to do with the markets... That's why so much buzz for mutual funds....

Reality is already known to all... Our markets are orchestrated to loot only...

Not only technical glitches, imagine the atrocity of all the agencies at every level...

PLEASE MAKE ME UNDERSTAND THE LOGIC OF "STT" after Direct Taxes (including LTCG + STCG) and GST... Moreover DERIVATIVES are not at all a SECURITY or a EQUITY product...

ALSO what is the essence of STAMP DUTY when 99% of all transactions are done digitally... WHO IS STAMPING WHAT for which a trader has to pay????

Are we small traders not taxed FOUR times (GST+STT+LTCG+STCG) by the CENTRE with a TOP-UP of a STAMP-DUTY by the STATE - CAN YOU BELIEVE THAT!

In the meantime as an insult to injury do not forget SEBI's Rs.10/Crore on everything that is traded in the EXCHANGES...

JUST IMAGINE THE AMOUNT THAT GOVERNMENT EARNS EVERYDAY IN A LARGE-SCALE PICTURE... BUT ARE THEY JUSTIFYING IN TERMS OF INFRASTRUCTURE AND FACILITIES ?????

Before coming to trade in India, one first has to become a Saint and take the beating from all possible 12 directions...

After all this BS from EVERYBODY, now ADD-ON TECHNICAL GLITCHES IN OMS / RMS...

FORGET ACHIEVING TRADING DISCIPLINE, WE WILL NOT BE ALLOWED TO HAVE PEACE OF MIND WHILE TRADING....

IS THERE ANYONE OUT THERE REALLY SERIOUS TO UNDERSTAND WHAT ONE HAS TO GO THROUGH??? I don't think so, because when you talk to any decision-maker explaining everything, the person will simply put you down stating that, "NOW-A-DAYS RETAIL TRADERS HAS BECOME VERY DEMANDING".

Well what else to expect, asking for basic human necessities is demanding here in our country ANYWAYS, isn't it ????

THE PROBLEM IS THAT, EVERYTHING IS OUTSOURCED AND EVERYONE SIMPLY PLAYS THE BLAME-GAME IF CAUGHT OTHERWISE JUST ENJOY LIFE...

 

[sumosanammain]

SEBI will never wake up to the cause for retail short-term traders!

SEBI has always wanted to institutionalize trading or investing or anything to do with the markets... That's why so much buzz for mutual funds....

Reality is already known to all... Our markets are orchestrated to loot only...

Not only technical glitches, imagine the atrocity of all the agencies at every level...

PLEASE MAKE ME UNDERSTAND THE LOGIC OF "STT" after Direct Taxes (including LTCG + STCG) and GST... Moreover DERIVATIVES are not at all a SECURITY or a EQUITY product...

ALSO what is the essence of STAMP DUTY when 99% of all transactions are done digitally... WHO IS STAMPING WHAT for which a trader has to pay????

Are we small traders not taxed FOUR times (GST+STT+LTCG+STCG) by the CENTRE with a TOP-UP of a STAMP-DUTY by the STATE - CAN YOU BELIEVE THAT!

In the meantime as an insult to injury do not forget SEBI's Rs.10/Crore on everything that is traded in the EXCHANGES...

JUST IMAGINE THE AMOUNT THAT GOVERNMENT EARNS EVERYDAY IN A LARGE-SCALE PICTURE... BUT ARE THEY JUSTIFYING IN TERMS OF INFRASTRUCTURE AND FACILITIES ?????

Before coming to trade in India, one first has to become a Saint and take the beating from all possible 12 directions...

After all this BS from EVERYBODY, now ADD-ON TECHNICAL GLITCHES IN OMS / RMS...

FORGET ACHIEVING TRADING DISCIPLINE, WE WILL NOT BE ALLOWED TO HAVE PEACE OF MIND WHILE TRADING....

IS THERE ANYONE OUT THERE REALLY SERIOUS TO UNDERSTAND WHAT ONE HAS TO GO THROUGH??? I don't think so, because when you talk to any decision-maker explaining everything, the person will simply put you down stating that, "NOW-A-DAYS RETAIL TRADERS HAS BECOME VERY DEMANDING".

Well what else to expect, asking for basic human necessities is demanding here in our country ANYWAYS, isn't it ????

THE PROBLEM IS THAT, EVERYTHING IS OUTSOURCED AND EVERYONE SIMPLY PLAYS THE BLAME-GAME IF CAUGHT OTHERWISE JUST ENJOY LIFE...

Maybe you could look at other Foreign markets if your profile permits. Most of these issues would just disappear, and you could trade with peace of mind.

My take on this is, consider this as a cost of doing business.
Compared to doing other businesses, and I am currently managing 2 of them, the hassles involved in trading are miniscule. try getting your invoices matched with dealers all over India, and you will find out how much fun is involved, and how your peace of mind goes to hell, with a one way ticket.

Have contingency plans in place to protect yourself from one off issues. Even if you enter an order, and are not able to exit, the worst case scenario should be a small loss, compared to your capital. Most trades will have to cut down on their trading volume by about 80 %, to match the above condition, or maybe increase their trading capital manifold. This just shows, how undercapitalised traders are while trading. Just the fact that we have the margins to cover a few losses and the initial margin, should not make a person eligible to trade in the markets. But sadly, it does. All you need is maybe a 50000 to enter, and them take losses far exceeding your risk profile. I know people trading 2 lots of Nifty futures via bracket orders with 50000 in their accounts. A mere brokerage and slippage accounts for 2 percent of their capital, forget the loss.

So, trade with either small quantity, or good capital to cover your current quantity.

Businessmen rarely risk their company's existence on one or 2 deals. And if they do, they are stupid.

 

[CougarTrader]

Maybe you could look at other Foreign markets if your profile permits. Most of these issues would just disappear, and you could trade with peace of mind.

Where are you from? Of course you like Samosas.....

As per RBI (Reserve Bank of India), Indian Rupees cannot be used to trade leverage-marginalized products outside India. So, trading EURUSD, GBPUSD, JPYUSD, or DAX FUTS or E-MINI S&P or NYMEX CL or FTSE or RUSSELLS is not possible - ethically! In accordance to RBI's Liberalised Remittance Scheme (LRS) we can only accumulate publicly listed foreign Stocks with an intention to INVEST (and particularly not for any short-term trading)... Unethically, there are many ways! However, I don't trust anyone when it comes to money and I do not want a seizure of my bank accounts just for the sake of trading...

My take on this is, consider this as a cost of doing business.
Compared to doing other businesses, and I am currently managing 2 of them, the hassles involved in trading are miniscule. try getting your invoices matched with dealers all over India, and you will find out how much fun is involved, and how your peace of mind goes to hell, with a one way ticket.

Have contingency plans in place to protect yourself from one off issues. Even if you enter an order, and are not able to exit, the worst case scenario should be a small loss, compared to your capital. Most trades will have to cut down on their trading volume by about 80 %, to match the above condition, or maybe increase their trading capital manifold. This just shows, how undercapitalised traders are while trading. Just the fact that we have the margins to cover a few losses and the initial margin, should not make a person eligible to trade in the markets. But sadly, it does. All you need is maybe a 50000 to enter, and them take losses far exceeding your risk profile. I know people trading 2 lots of Nifty futures via bracket orders with 50000 in their accounts. A mere brokerage and slippage accounts for 2 percent of their capital, forget the loss.

So, trade with either small quantity, or good capital to cover your current quantity.

Businessmen rarely risk their company's existence on one or 2 deals. And if they do, they are stupid.

All I can say is that, using over-leverage to trade is like, "Going to a gunfight with a needle instead of a knife. One (trading account) would be dead (wiped-out) in a blink anyways".

Amidst all this, a good thing that has happened is that Finvasia with its bare-minimum tools to place Orders is charging no Brokerage and no Exchange Clearing fees whatsoever, so to a lot extent these government charges gets offset for my short-term or intraday trades... Don't know for how long that's going to continue!

 

[sumosanammain]

Where are you from? Of course you like Samosas.....

As per RBI (Reserve Bank of India), Indian Rupees cannot be used to trade leverage-marginalized products outside India. So, trading EURUSD, GBPUSD, JPYUSD, or DAX FUTS or E-MINI S&P or NYMEX CL or FTSE or RUSSELLS is not possible - ethically! In accordance to RBI's Liberalised Remittance Scheme (LRS) we can only accumulate publicly listed foreign Stocks with an intention to INVEST (and particularly not for any short-term trading)... Unethically, there are many ways! However, I don't trust anyone when it comes to money and I do not want a seizure of my bank accounts just for the sake of trading...

All I can say is that, using over-leverage to trade is like, "Going to a gunfight with a needle instead of a knife. One (trading account) would be dead (wiped-out) in a blink anyways".

Amidst all this, a good thing that has happened is that Finvasia with its bare-minimum tools to place Orders is charging no Brokerage and no Exchange Clearing fees whatsoever, so to a lot extent these government charges gets offset for my short-term or intraday trades... Don't know for how long that's going to continue!

As I mentioned before, if your profile permits. Mine does. Maybe yours doesnt.
Where did Samosa come from????

 

[jyotixxx]

Guys I am using SASonline for past one month. It's too early say them to be good, lets see.

Zerodha had an issue on Thursday at around 3 pm too.

 

[bashasm]

Guys I am using SASonline for past one month. It's too early say them to be good, lets see.

Zerodha had an issue on Thursday at around 3 pm too.

zerodha sucks
What do you think about fyers?

 

[CougarTrader]

Where did Samosa come from????

Sorry @sumosanammain, I mistook you as a westerner who likes to eat samosas from this previous conversation of yours with rmike... And thought, you're asking us to trade foreign liquid (low-commisioned) markets without the knowledge of Indian Trade policies/norms set by RBI...

As I mentioned before, if your profile permits. Mine does. Maybe yours doesnt.

Good for you...
But in any smart method it is illegal or cheating. When caught such a profile (or such a business) is a criminal offence in India <PERIOD>

Businessmen rarely risk their company's existence on one or 2 deals. And if they do, they are stupid.

Businessmen must not do illegal business in broad daylight. Well that's risking more than the company's existence and self-esteem along with it (can't say anything whether it exists). Everything is digital, money trail can be easily traced by Government officials.

 

[jyotixxx]

zerodha sucks
What do you think about fyers?

I can't say much. Order execution delay, updation delay I have seen frequently. Contract notes not sent timely. Support completely sucks.
But trading platform has n't betrayed like Zerodha till now.

 

[bashasm]

I can't say much. Order execution delay, updation delay I have seen frequently. Contract notes not sent timely. Support completely sucks.
But trading platform has n't betrayed like Zerodha till now.

Thanks, I see that you explored a lot of brokers. Could you please suggest which is best at the moment
I am trading only crude oil at the moment, with fyers web ( somehow I don't like Nest Trader and I like the browser ), and I did not see any issues till now, charts seem to update. Obviously we don't receive contract notes and their back office sucks.

I compared my contract notes and I see that the charges for the fyers are on the higher side, this might be due to the clearing charges as highlighted below

Also, I did check Zerodha and Finavaisa, they don't seem to have Clearing charges.

Please suggest by comparing these

This is for trading 5 mega lots

we can see the more clearing charges when we trade multiple transactions, like in the below screenshot, I have traded 4 times, over all covering 50 Mega lots ( 10 Lots in first three trades, and 20 lots in last trade)