Discount Broker Comparison

bpr

Well-Known Member
#11
NFO Comparison data is almost complete.
Assuming that there is no more data errors lets analyse the data.
If a day trader is focused on NSE Futures trading then
the lowest turnover charge is offered by RKSV which is 230 followed by 240 TSO and then SAS and VPS at 250 each.

But if we compare with brokerage.

I think SAS comes as winner over all with 250@1000 as it is a good balancing act.

Please note achiever at 390@500 is not at all good for active futures trader as the turnover is too costly.

Wisdom Capital is good at 280@1111 but it is tough competition as 280 at average 30 to 40 rupees higher from others not worth it.

At second place we have
RKSV & VPS
if a trader has very very huge volume then they can go with RKSV saving Rs 20 in turnover charge which is significant.
VPS is their at number 2 because it has hybrid plans plus less brokerage than RKSV at 1700.

TSO is their somewhere in between but they don't bring anything new to the table just a copy of RKSV with Rs 50 less brokerage i don't see their purpose people are better off going with RKSV after all RKSV turnover < TSO turnover.

My Conclusion:
people with huge turnover will go with RKSV. People with high turnover but not regular with market will go with VPS for their hybrid plan.
Very unfortunate for SAS. But some people might prefer SAS who is having high turnover but not too much high to be affected by Rs20 deduction in turnover charge.

Again the calculation will difffer from people to people and they need to calculate their average daily turnover and compare along side the brokerage.


Overall Ranking Futures Comparision

1 SAS
2 RKSV & VPS
Share your analysis.
 
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bpr

Well-Known Member
#12
Option Comparison:
For a day trader is completely focused on Option trading.
Option turnover charge ranking
1 Wisdom Capital 6000@1111
2 VPS 6250@1700
3 SAS 6500@1000

Option turnovers are much less compared to futures turnover. So comparison here solely based on turnover charge is difficult.

Even acchiiver 7500@500 can score on top as the impact due to turnover cost is minimal and the brokerage discount is significant.

Very difficult comparison but the overall ranking will have these 4 brokers in some order.
My attempt to rank them
1 acchiiver 7500@500
2 Wisdom Capital 6000@1111
3 SAS 6500@1000
4 VPS 6250@1700
 
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#13
Hi

Thanks for your efforts.

It is interesting to note that RKGlobal the guys who introduced the low/fixed cost brokerage concept and Zerodha who popularized it do not even figure in the above ranking


:) Happy
 

Creep

Active Member
#14
Option Comparison:
Very difficult comparison but the overall ranking will have these 4 brokers in some order.
My attempt to rank them
1 acchiiver 7500@500
2 Wisdom Capital 6000@1111
3 SAS 6500@1000
4 VPS 6250@1700
Have you heard of this quote, "Pennywise Pound foolish", that is what I am reminded of when I look at this list. They are all probably the most questionable businesses to partner, I had put up how achiiever was trying to con, wisdom and SAS are not even direct members, VPS has 2 dealers sitting and taking trades.

All this price dropping, seems too good to be true, when things seem like that you know there is something lined up which can go really bad. This is a business where your hard earned money is going to be sitting, will you go open a bank account with Amanath coooperative bank? (they suddenly put a withdrawal limit of Rs 1000/day when the business went bad).
 

Creep

Active Member
#15
Go to MCA website, take the effort of looking at the financials of the firm, you don't want your hard earned money sitting with a broker who can dissapear. I know a lot of those who say that cannot happen, but my friends it can!!! Wait for the next 2008, I would bet more than half on this list would be out of business..

I will take the initiative if required to share the company profitability..
 

carnot11

Active Member
#16
Hello Creep,

Thanks.

Please go ahead and tell us which of the discount brokers are at the top of the list
with respect to -

1. safety of money
2. no unsolicited transactions in clients account
3. transparency of charges
4. reliability of service

Enjoy,
CArnot
 

bpr

Well-Known Member
#17
Have you heard of this quote, "Pennywise Pound foolish", that is what I am reminded of when I look at this list. They are all probably the most questionable businesses to partner, I had put up how achiiever was trying to con, wisdom and SAS are not even direct members, VPS has 2 dealers sitting and taking trades.

All this price dropping, seems too good to be true, when things seem like that you know there is something lined up which can go really bad. This is a business where your hard earned money is going to be sitting, will you go open a bank account with Amanath coooperative bank? (they suddenly put a withdrawal limit of Rs 1000/day when the business went bad).
The analysis are purely based on numbers. The background and reliability of the brokers are not taken into context.

Let me tell you when Zerodha started they are only few people sitting there doing their business. I opened account with them at very early stage.
I understood their concept and jumped right in.
To start with deposited only 10k did some trading tested withdrawing money then gradually increase my trading balance as I gained confidence on them.

Today Zerodha is a big name because of us the traders.
Now that the second wave of discount brokerage is coming we cannot just sit their and ignore them. Some of them will be game changer in future.
 

bpr

Well-Known Member
#18
Go to MCA website, take the effort of looking at the financials of the firm, you don't want your hard earned money sitting with a broker who can dissapear. I know a lot of those who say that cannot happen, but my friends it can!!! Wait for the next 2008, I would bet more than half on this list would be out of business..

I will take the initiative if required to share the company profitability..

Yes Please. Please share the detailed financials of all the brokers that are discussed here. Vs some of the big names for a comparative study.
 

bpr

Well-Known Member
#20
Hi

Thanks for your efforts.

It is interesting to note that RKGlobal the guys who introduced the low/fixed cost brokerage concept and Zerodha who popularized it do not even figure in the above ranking


:) Happy
Yep Correct.
Please note I have used Zerodha as a reference Vs all the discount brokers that gives unlimited plan. I guess RK Global does not qualify.