Discount Broker Comparison

[siyalikashyap]

Hey guys can you share which one is your main broker that you are using mostly - only want to know the main broker - not the substitute that you might have - I want to compare margin blocked and haircut charged. @travi @timepass @bottrade @siyalikashyap

I also want to know how much difference between monthly and weekly margin requirement? weekly needs more or less margin ?
Zerodha calc does not show weekly margin requirement in their calc - sasonline does but most other don't show weekly requirement on their calc

Also why Shoonya does not allow Bracket and covered orders for options? Does flattrade allows ?

Is there any difference between MIS and NRML margin for option selling ? MIS has less margin requirement compared to NRML?

I use shoonya majorly and also have account in zerodha but not using it these days!
With shoonya i trade in FO and equities and acc to me they dont charge me any higher margin , and for the haircut deduction on collateral is exactly as per the exchange haircut - i already cross checked it many times!!

secondly, BO and CO are not allowed in shoonya as its discontinued by the exchange itself I guess due to market volatility.
Third margin difference is there in equities only in case of MIS and CNC not in FNO - its same !!

 

[curiousv]

@siyalikashyap -
1. I checked the margin required while taking live trades for weekly nifty expiry today at finvasia and checked the same trades on margin calc on sasonline (because they allow you to check weekly expiry margin - zerodha only monthly possible) and there was 10% higher margin required with finvasia - I dont think yours and mine will be different margin by any means - if sas calc is true on their website - definitely finvasia is blocking higher margin. - I am not sure why do you say finvasia does not block higher margin?

Check post #2339 by @bottrade

2. Thanks for clarifying about BO/CO and monthly and weekly no difference in margin in FNO

 

[bottrade]

Hey guys can you share which one is your main broker that you are using mostly

I also want to know how much difference between monthly and weekly margin requirement

Also why Shoonya does not allow Bracket and covered orders for options

Is there any difference between MIS and NRML margin for option selling?

Finvasia

Even for weekly, it's not a fixed percentage of difference. It varies from 5 to 25%+. The research I did in this regard is extensive enough and I don't bother to check every possible things like difference for near/next/far month contracts. I would suggest you not to spend too much time in this regard unless you're writing an article about this. If you're a trader, better spend on your trading strategies or even better spend time with your family. Feels like you have spent enough time on this already.

Zerodha doesn't either. Why? Your broker allows BO/CO in FNO?

I don't think so. Since regulation kicked in, no one is allowed to give more than 1x leverage.

 

[curiousv]

Finvasia

Even for weekly, it's not a fixed percentage of difference. It varies from 5 to 25%+. The research I did in this regard is extensive enough and I don't bother to check every possible things like difference for near/next/far month contracts. I would suggest you not to spend too much time in this regard unless you're writing an article about this. If you're a trader, better spend on your trading strategies or even better spend time with your family. Feels like you have spent enough time on this already.

Zerodha doesn't either. Why? Your broker allows BO/CO in FNO?

I don't think so. Since regulation kicked in, no one is allowed to give more than 1x leverage.

Yes your post 2339 is extensive research based. If you noticed my latest question/post which you replied was not about 'finvasia's margin' so thanks for your suggestion but am not spending more time on this as I have understood that they are blocking higher margin.

 

[timepass]

I use VNS finance (Tradesmartonline) for daytrading banknifty options. I use Finvasia for portfolio holdings. I have never paid attention to haircut/margins. Don't trade futures, option buying only.

 

[curiousv]

I use VNS finance (Tradesmartonline) for daytrading banknifty options. I use Finvasia for portfolio holdings. I have never paid attention to haircut/margins. Don't trade futures, option buying only.

How long are you with tradesmartonline ? any cons/negatives you would like to share?

 

[curiousv]

m.stock: when i checked it was long back and they didnt have many things in place. In over a year much would have changed so someone needs to update. back then they didnt even have e-dis, you need physical slip and need to courier to Mumbai only. I dropped idea of having a/c there.

flattrade: Personally my account are old and has POA so i dont know how this new system works. I dont see reason to revoke it and hodlings are with bigger broker.
restricted POA shouldnt be a problem.

for 0 brokerage i think Finvasia is still best out there. That one big mishap of ghost trade incident to be honest has happened with others too but they did refund losses and issue was handled eventually.
Finvasia being a CC means they should have a large backing and compliance.

You said they refund the loses - Do you anyone who actually got the refund? because sometimes companies can misrepresent to prove that they are better than others. @timepass @bottrade @siyalikashyap @newtrader101 @vsaran

 

[timepass]

How long are you with tradesmartonline ? any cons/negatives you would like to share?

more than 10 years. No problem so far, not once. Their transaction charges are high for options, but they provide Nest trader.

When they discontinue Nest, I will be confused about choosing a broker

Hey Kambala solutions software is the Finvasia Shoonya desktop, right ?

 

[curiousv]

more than 10 years. No problem so far, not once. Their transaction charges are high for options, but they provide Nest trader.

When they discontinue Nest, I will be confused about choosing a broker

Hey Kambala solutions software is the Finvasia Shoonya desktop, right ?

Yes Kambala is provider for both Shoonya and flattrade (I think)
Do you know anyone got the refund from Finvasia as they claim - I think they claimed they gave refund of about 3 crore - did anyone on this site talked about getting a refund ?
Another provider for nest is sasonline unlimited trading in all segments - monthly 1999 Rs. plus gst
Some of the top traders using sasonline because of this flat fees and nest software -

 

[timepass]

Yes Kambala is provider for both Shoonya and flattrade (I think)
Do you know anyone got the refund from Finvasia as they claim - I think they claimed they gave refund of about 3 crore - did anyone on this site talked about getting a refund ?
Another provider for nest is sasonline unlimited trading in all segments - monthly 1999 Rs. plus gst

Ok. Tradesmart is getting their new software from Kambala. If they discontinue Nest, then I may continue everything with Finvasia.

I don't know about the refund. Didn't trade that day.