Discount Broker Comparison

TracerBullet

Well-Known Member
Can someone please share the link for the ICICI direct Neo Plan - fineprints? What are the hidden terms, that we should be aware of? Kotak and ICICI both are big names, as far as safety of margin money with brokers is concerned. Although we definitely need other features from them.
This is the overview - https://www.icicidirect.com/services/brokerage
They will have higher AMC, seems around 1.5k for trading+demat account

ICICI looks very interesting, with only delivery charge for stocks being expensive - rest is ok. And you get 3 in 1 account + good option for keeping larger capital, once leverage goes to 5x.

They even seem to have api although i could not find any one talking about it.
https://api.icicidirect.com/apiuser/ICICIDirectAPIDOC.htm
 
with new margin rule kicking in ..all brokers who use high leverage to attract traders is already feeling the heat.
What do you think is going to happen .
More consolidation by brokers with tech advantage as leverage advantage is nullified
For the time being, yes. Then as the liquidity dries and time passes, the leverages will return in some form, just like bitcoins.
 
This is the overview - https://www.icicidirect.com/services/brokerage
They will have higher AMC, seems around 1.5k for trading+demat account

ICICI looks very interesting, with only delivery charge for stocks being expensive - rest is ok. And you get 3 in 1 account + good option for keeping larger capital, once leverage goes to 5x.

They even seem to have api although i could not find any one talking about it.
https://api.icicidirect.com/apiuser/ICICIDirectAPIDOC.htm
Thank you so much @TracerBullet for these details.
You are right, not many guys are aware of API from them. Even I noticed this for the very first time.

Is anyone aware if kotaksecurities.com guys also have some API or not? Please let us know.
Do they allow/support Algo Trading in their Free Intraday Trading Plan ?

Best Regards
 
with new margin rule kicking in ..all brokers who use high leverage to attract traders is already feeling the heat.
What do you think is going to happen .
More consolidation by brokers with tech advantage as leverage advantage is nullified
I think you are right. Once the Leverage Advantage is nullified, then more consolidation will happen in the brokerage industry. Only a few big brokers might survive in the long run.
 

TracerBullet

Well-Known Member
What do you think is going to happen .

More consolidation by brokers with tech advantage as leverage advantage is nullified
Yes, smaller brokers/less capitalized brokers become more risky to use if leverage available is low.
Brokers like zerodha, Icici are quite profitable and so they have ability to absorb shocks. They also have a large investor base, so potential losses due to leveraged trades will have lower impact on them. So i would prefer them as long as they have good tech (api/stability/usuable web interface) + discount model for intraday. 3 in 1 accounts might also mitigate the hassles of quarterly settlements, although i have not yet seen how settlements work in 3 in 1 accounts.
 

iTrade

Well-Known Member
Thank you so much @TracerBullet for these details.
You are right, not many guys are aware of API from them. Even I noticed this for the very first time.

Is anyone aware if kotaksecurities.com guys also have some API or not? Please let us know.
Do they allow/support Algo Trading in their Free Intraday Trading Plan ?

Best Regards
I so hate the big shots like icici and kotak for the reason that there are so many terms and conditions which are not clealrly highlighted in the brokerage plan. No brokerage calculator as well. Its like uou have to open account to see what’s exactly they have to offer.
 

bpr

Well-Known Member
nse getting greedy ..transaction charges increasing from Jan 1 2021

NSE cash from 325/Cr to 345/Cr
NSE futures 190/cr to 200/Cr
NSE options 5000/cr to 5300/Cr

may be nse is responding to volume reduction due to sebi rules

Edit :
nse saying they did it due to recent broker defualts they want to set up investor protection fund
:D:hilarious:
 

vikas2131

Well-Known Member
This is the overview - https://www.icicidirect.com/services/brokerage
They will have higher AMC, seems around 1.5k for trading+demat account

ICICI looks very interesting, with only delivery charge for stocks being expensive - rest is ok. And you get 3 in 1 account + good option for keeping larger capital, once leverage goes to 5x.

They even seem to have api although i could not find any one talking about it.
https://api.icicidirect.com/apiuser/ICICIDirectAPIDOC.htm
Neo plan is the only one that looks good otherwise 100 lots in niftyoptions would cost brokeage in thousands so what is catch in that plan ?
 

bkb

Well-Known Member
Yes, smaller brokers/less capitalized brokers become more risky to use if leverage available is low.
Brokers like zerodha, Icici are quite profitable and so they have ability to absorb shocks. They also have a large investor base, so potential losses due to leveraged trades will have lower impact on them. So i would prefer them as long as they have good tech (api/stability/usuable web interface) + discount model for intraday. 3 in 1 accounts might also mitigate the hassles of quarterly settlements, although i have not yet seen how settlements work in 3 in 1 accounts.
For e.g. If one has broking relationship with HDFC SECURITIES, funds in the bank account are blocked for the trades taken. At the end of day, excess funds blocked, if any, released from block and available for use in the bank account. So, as funds are being settled on daily basis, no special quarterly settlement required as broking arm does not hold any client funds. Hope I got the query correct. May be we need to understand how trades funded through broker margin will be accounted for.
 

Zerodha – Open Paperless Account

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