Discount Broker Comparison

[sagar797]

hi all,
I'm planning to resume my trading after 4 years but with new broker (discount). Earlier i had an account with Indiabulls(which i opened only bcoz i got it free) and i hardly traded for 3 months and ended up in loss.
I'm not following that account since 2010 and i dont know its current status(however i can still login to thier terminal with given ID).
I also checked my KRA status which reads ''OLD RECORDS SUBMITTED'' as of mid 2012.

How long will it take to open a new account ? And do i need to contact my previous broker prior to changing ?
Do i need any extra documents(other than PAN & address proof)

any help is highly appreciated.

 

[vaibhav05]

can you please let us know what your CA explained about discount broker functionality (if you don't have an issue). so that we will also be aware and cautious.

He is not my CA...He is member named creep in this forum..I have mentioned his comments above

 

[RavishReport]

I have asked several times over mail to aliceblue regarding their relation with Wisdom Capital but they never reply directly (seems they do not want to give in writing) and always asks my phone number, address and say they will clear doubt over phone. Why cant they just reply what is their relation with Wisdom Capital! All other discount brokers have replied to queries on email in writing.

As Wisdom Capital is not registered in NSE & no broker is authorized to start another sub unit without registration. It is highly risky to deal through unregistered bcz Aliceblue later can raise their hands if WC run away without settling clients or Alicablue.

 

[Sagaya]

I had a chat with compositeedge customer care online chat but the person is not very competent, like informed me of old transaction charges rather than giving me the revised charges, in comparision TSO customer care is very good. The chat as well as email queries we nicely answered by TSO.

Hi!

Compositedge's transaction charges are Rs.375/- per crore.I checked it in the brokerage calculator on their website.There is no need to talk to their Helpdesk.

Cheers!

 

[blisscapital]

Hi!

Compositedge's transaction charges are Rs.375/- per crore.I checked it in the brokerage calculator on their website.There is no need to talk to their Helpdesk.

Cheers!

Thats ok but why we dont need to cross check with helpdesk? They have one thing in calculator and other amount in their website where charges are written. Moreover the helpdesk guy pointed me not to calculator but to the webpage where charges are given. And said yes to 450 as transaction charge.If they cant train their staff regarding simple charges why are they given to handle live chat

 

[bpr]

hi all,
I'm planning to resume my trading after 4 years but with new broker (discount). Earlier i had an account with Indiabulls(which i opened only bcoz i got it free) and i hardly traded for 3 months and ended up in loss.
I'm not following that account since 2010 and i dont know its current status(however i can still login to thier terminal with given ID).
I also checked my KRA status which reads ''OLD RECORDS SUBMITTED'' as of mid 2012.

How long will it take to open a new account ? And do i need to contact my previous broker prior to changing ?
Do i need any extra documents(other than PAN & address proof)

any help is highly appreciated.

no u don't neeed to contact ur old broker unless you want to resue ur demat account go ahead open a fresh account

 

[Sagaya]

hi all,
I'm planning to resume my trading after 4 years but with new broker (discount). Earlier i had an account with Indiabulls(which i opened only bcoz i got it free) and i hardly traded for 3 months and ended up in loss.
I'm not following that account since 2010 and i dont know its current status(however i can still login to thier terminal with given ID).
I also checked my KRA status which reads ''OLD RECORDS SUBMITTED'' as of mid 2012.

How long will it take to open a new account ? And do i need to contact my previous broker prior to changing ?
Do i need any extra documents(other than PAN & address proof)

any help is highly appreciated.

Hi!

It takes anywhere between 3-5 days for you to open your Trading & Demat account.You need to give all your supporting documents as you are not KRA verified.If you are KRA verified then there is no need to submit your supporting documents.If you want to do Derivatives trading,then you need to submit Income proof.

Cheers!

 

[blisscapital]

Some interesting things have developed @ SAS. I have mailed them around Sep 2013 when they did not have any presence on the social media; and again now. Some progress have been made by them. Following are some of the key points given as reply to my email.

Nest Trader is scheduled to be launched next month along with cover order facility. We provide SL-M orders. Also, market orders are provided for all the segments including option buy/sell.

A SAS Online initiative http://sasonline.in/traders.desk/ has been launched. We are also active on various social platforms like Facebook, Twitter, LinkedIn, et al.

We have applied for MCX membership. It is scheduled to be launched next month onwards

We have reached approx. 2000 clients in a span of ten months with 1500+ active traders trading with us.

 

[blisscapital]

yesterday I asked TSO the same question ..how many clients they have..they repied diplomatically that they have many happy and satisfied clients..:rofl:

 

[Relish]

We have reached approx. 2000 clients in a span of ten months with 1500+ active traders trading with us.

How can a customer check how many active clients; what is mechanism to check these number?? Either they say 500 or 2000 or more; can tell us how to check???