Discount Broker Comparison

[balab]

Details for TSO
Delivery: 100% against available cash.
Intraday: 6 to 8 times of exposure.
Example- If you have 10000/- cash balance in you A/C, you can trade up to 10000/- for delivery and up to 80000/- for intraday.

Futures: Intraday trades can be placed at 50% of the margin required. 100% margin required for overnight positions.

Options: Intraday trades for option writing can be placed at 50% of the margin required. 100% margin required for overnight positions.

For buying options 100% margin required.

 

[balab]

Margin Details for RKSV: pls update the table

Equities 10X
We provide up to 10x exposure for all NSE and BSE securities that have products on the NSE-FO market. For other stocks that are not on this list but have a 20% circuit limit breaker, we provide up to 2x exposure. For all others, there is no exposure provided.

NSE Futures and Currency Futures
Futures are allowed to trade on 50% of applicable (span plus exposure) margin. To carry forward the positions, the customer would need 100% of the applicable margin. So if you want purchase 1 lot of NIFTY futures valued at Rs. 2,50,000 (Rs. 5000 for 1 lot of 50 shares), you would need Rs. 12,875 (50% of margin) for intra-day applicable margin or Rs. 25,750 (100% of margin) if you want to carry-forward the position. Buying options require the full value of the premium while selling options require the full value of the applicable margin. Our margin files are available on dropbox.

Options
For buying options, RKSV requires the full premium amount. For selling options, the full applicable span and exposure margin is required. However, you do get the premium benefit credited to your account when selling options.

MCX Commodity
For MCX Futures , RKSV provides 2x margin for both buying and selling. Leverage begins at market open only for fresh positions. Positions bought or sold on leverage will be automatically squared off 30 minutes prior to market close (so it is either 11:25 PM or 10:30 PM depending on MCX market timings). Our margin files are available on dropbox.

 

[bpr]

Details for TSO
Delivery: 100% against available cash.
Intraday: 6 to 8 times of exposure.
Example- If you have 10000/- cash balance in you A/C, you can trade up to 10000/- for delivery and up to 80000/- for intraday.

Futures: Intraday trades can be placed at 50% of the margin required. 100% margin required for overnight positions.

Options: Intraday trades for option writing can be placed at 50% of the margin required. 100% margin required for overnight positions.

For buying options 100% margin required.

any idea what is account opening charge for TSO?

 

[balab]

Details for VPS
Margins
1. VPS does not provide any funding to the clients and client can carry forward positions only against the cash balance in their account.
2. VPS will provide 5-8 times leverage for stocks listed for trading under F&O category. And 4times of active midcaps stocks as per the list being provided on our website on daily basis
(subject to change as per market conditions).
3. All margins mentioned above are for intraday trading and no margin is provided for carrying
positions in cash and F&O at the end of the trading session.
4. For F&O intraday trading clients can take positions on index and stock futures with 40% of SPAN
+ Exposure Margin. Depending upon the volatility the margin requirements can be changed to 75% of SPAN+ Exposure margin.
5. No leverage is provided for holding positions overnight and client is required to have 100% span +Exposure margin after deducting Mark to market losses for the day to hold positions overnight.
6. Trading in options, for Buying Options, VPS requires the full premium amount. For selling options in intraday 40% of applicable span + exposure margin is required. For carrying overnight positions while selling the options client required to have 100% of applicable margin in their trading account. However, you do get the premium benefit credited to your account when selling options.

 

[saakk]

yes if in a day your turnover is 1000 Cr Zerodha will charge 50 as stamp duty.(based on karnataka)
But they recently excluded 3 states where they will charge state wise.

Thankx for the answer....

Trade well....

 

[Grules]

Very good info. I think it is also important to look into other aspects of broker i.e. background of the broker ( will your money be safe).
How is the pay out , cos that is what will speak about the intentions of the broker. if he is quick he is surely dedicated . I am making this point cos something like NSEL defaulted and these are too small brokers. Also customer service from the brokers side is something which needs to be looked into along with technology used in terminal.
Who do you think outperforms in the following criteria.
Background/Payouts/customer service/ technology

 

[poortrader]

Very good info. I think it is also important to look into other aspects of broker i.e. background of the broker ( will your money be safe).
How is the pay out , cos that is what will speak about the intentions of the broker. if he is quick he is surely dedicated . I am making this point cos something like NSEL defaulted and these are too small brokers. Also customer service from the brokers side is something which needs to be looked into along with technology used in terminal.
Who do you think outperforms in the following criteria.
Background/Payouts/customer service/ technology

Also check how is the info given in their websites, We get to know about the quality of the customer service of the firm through the website and the thread they are running in traderji also.

Regarding NSEL episode, many of the top brokers in the country like Motilal, IIFL etc are stuck with their client's money. However small brokers like VPS (as per their claims in their thread) are not. So maybe size has not helped the clients of Motilal and IIFL in this episode.

 

[poortrader]

I need to open an account with discount Brokers. My requirement is extra exposures. Who is providing maximum Exposures among discount brokers?

try mailing or posting in the respective threads of these brokers to get a first hand experience of their service as well as margin policy

 

[Grules]

Can we have a new poll on discount brokers ? I guess a lot of the older posts dont feature in these new discount brokers . Mods can please check that and feature it or someone senior can do so. will be of good help to newbies......

 

[SKU]

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 good comparison but pls add the highlighted point as well that is the very basic & the most important point.