Discount Broker Comparison

[ashu1234]

i called them they told me that they can give 1 lot nifty with 1500 as margin if i use cover orders

Well I'm talking about all brokers to make a comparison.
I've noticed there is tradeoff between brokerage and times of margin given for intraday. More limit - generally a bit higher brokerage, very low limit(for eg 1.5 times intraday) unlimited/discounted brokerage. So need to know which brokerage have a good mix according to the need of traders.

 

[ashu1234]

SASTA AUR KHATARNAK!
Beware of Low-Cost Brokerage Firms.

Off-late we have seen huge number of new brokerage firms opening up and offering low cost brokerages like Rs 9 per trade/Rs 20 per trade e.t.c.

But have you ever thought, If big brokerage houses who still charge small investors 40 paise in Delivery & 4 paise in Intraday (of course negotiable depending on your volume) have been in financial distress then how on earth will such a low profit business model of these small-timers will last and who gives the guarantee that your money is safe?

Few weeks ago some of our friends had an issue with their broker, That particular broker was not issuing the payout to a lot of clients and not even helping with client master so that he can link his DP to another broker, All their customer care helpline nos. were not working and Relationship Managers were not picking up the phone, And when someone managed to talk they gave lame excuses like signature mismatch issue among the partners and e.t.c. That brokerage firm of the NCR zone is into real estate business too and have a pathetic track record, Now we come to know that some of them have got the payout and some are still worried and thinking about filing a FIR which we suggested them to do, There has been ZERO media coverage on this particular issue and no one is noticing the BIG DEAL it is.

Now imagine you open a new trading a/c with a low cost brokerage house named e.g. (ABC)
ABC has offered you 1paise and 10paise and you fall for it and give them the margin of INR 1lakh.
After few months/years you are unable to take a payout, and your broker is not picking up your phone.
You write a mail and no one is responding, Your broker who offered ridiculously low brokerage has not been able to sustain this business model and is now in huge losses or his intentions are malicious.
There is loss in his other ventures, This guy has lost a lot of money and it is you who has to suffer the side-effects of his bad business decisions, You try everything and finally you file a case, Courts orders SEBI to set up a committee, few prominent politicians have raised voice for your votes, There are few months of inquiry but your money is still far away from you, Finally you will get it back after few months/year, But was the low brokerage worth the risk?

Always go for reputed brokerage houses which have a good promoter backing, Low brokerage is very HOT but sustainable? totally NOT, It is better to bargain/negotiate with your broker and bring your brokerage down significantly rather than taking the risk of trusting the newbies.

Promoter is an important part when you trust someone for your money... so make a wise decision!

Cheers

Boss you don't really know the concept of discount broking.
As far as one case is concerned any broking can go bankrupt reason may be mishandelling of funds and poor management so be it full service broker or discount broker. Go to the defaulter circulars released by both NSE and MCX at their site, do a study and you will find many defaulter. If your business model is flawed you are bound to loose - don't blame discount broking they are doing good by means of scale and cutting cost of those shitty RM's who misguide investors and do trading on their own behalf and getting heavy salary on the amount of trading volume generated by them and not to mention heavy staff for research and marketing people we all know about their quality of work.

 

[bpr]

Well I'm talking about all brokers to make a comparison.
I've noticed there is tradeoff between brokerage and times of margin given for intraday. More limit - generally a bit higher brokerage, very low limit(for eg 1.5 times intraday) unlimited/discounted brokerage. So need to know which brokerage have a good mix according to the need of traders.

With the introduction of BO order, leverage is kind of getting more or less same across broker and will no longer remain as a distinguishing factor.
Having said that please provide the details and I will update in my calculator.

CO,BO still has limitation MIS still the most flexible order type. so MIS margin still a factor as of now.

 

[bpr]

SASTA AUR KHATARNAK!
Beware of Low-Cost Brokerage Firms.

Off-late we have seen huge number of new brokerage firms opening up and offering low cost brokerages like Rs 9 per trade/Rs 20 per trade e.t.c.

But have you ever thought, If big brokerage houses who still charge small investors 40 paise in Delivery & 4 paise in Intraday (of course negotiable depending on your volume) have been in financial distress then how on earth will such a low profit business model of these small-timers will last and who gives the guarantee that your money is safe?

Few weeks ago some of our friends had an issue with their broker, That particular broker was not issuing the payout to a lot of clients and not even helping with client master so that he can link his DP to another broker, All their customer care helpline nos. were not working and Relationship Managers were not picking up the phone, And when someone managed to talk they gave lame excuses like signature mismatch issue among the partners and e.t.c. That brokerage firm of the NCR zone is into real estate business too and have a pathetic track record, Now we come to know that some of them have got the payout and some are still worried and thinking about filing a FIR which we suggested them to do, There has been ZERO media coverage on this particular issue and no one is noticing the BIG DEAL it is.

Now imagine you open a new trading a/c with a low cost brokerage house named e.g. (ABC)
ABC has offered you 1paise and 10paise and you fall for it and give them the margin of INR 1lakh.
After few months/years you are unable to take a payout, and your broker is not picking up your phone.
You write a mail and no one is responding, Your broker who offered ridiculously low brokerage has not been able to sustain this business model and is now in huge losses or his intentions are malicious.
There is loss in his other ventures, This guy has lost a lot of money and it is you who has to suffer the side-effects of his bad business decisions, You try everything and finally you file a case, Courts orders SEBI to set up a committee, few prominent politicians have raised voice for your votes, There are few months of inquiry but your money is still far away from you, Finally you will get it back after few months/year, But was the low brokerage worth the risk?

Always go for reputed brokerage houses which have a good promoter backing, Low brokerage is very HOT but sustainable? totally NOT, It is better to bargain/negotiate with your broker and bring your brokerage down significantly rather than taking the risk of trusting the newbies.

Promoter is an important part when you trust someone for your money... so make a wise decision!

Cheers

You are talking about discount broker then mentioned about relationship manager . I am afraid you don't fully understand what is discount brokerage concept is.I also don't understand why did you forget to disclose the name of the broker. I doubt whether your broker is really discount broker or full service broker.
Having said that Every broker is subject to risk. Nobody is completely immune. and You have to do your due diligence when choosing a discount broker.

But in every aspect discount brokerages are thousand times better than full service brokerage

Remember you have pay in hard cash for your ignorance.(your so called wise decision)

 

[tradedatrend]

shitty RM's who misguide investors and do trading on their own behalf and getting heavy salary on the amount of trading volume generated by them and not to mention heavy staff for research and marketing people we all know about their quality of work.

May be he (SASTA AUR KHATARNAK! post starter) is one of them, and now unemployed

 

[cloudTrader]

myvaluetrade has a brokerage calculator on their website which is fake one and dose not have any details. It shows savings instead of a real brokerage calculator.
They are trying to say indirectly that we are all idiots. :rofl::rofl:
Non transparency alert.

Is their Rs. 1,000 monthly fixed plan for all segments combined or the wordings have been veiled in their pricing statement and ultimately it is Rs. 1,000 fixed plan separately per segment ?

One thing is good for the traders ----- Competition is heating up in the industry.

 

[bpr]

Is their Rs. 1,000 monthly fixed plan for all segments combined or the wordings have been veiled in their pricing statement and ultimately it is Rs. 1,000 fixed plan separately per segment ?

One thing is good for the traders ----- Competition is heating up in the industry.

site is well built but lot of information is missing .
looks like that is intentional which is not good.

 

[cloudTrader]

site is well built but lot of information is missing .
looks like that is intentional which is not good.

I inquired with them about the fixed monthly brokerage plan and they said that the Rs. 1,000 Fixed brokerage plan is for all the segments combined together.

 

[classifiedindian]

How is it possible that all the brokers have different turnover charges? Shouldn't be standardised as it is charged by the clearing member and the exchange itself?
Does this mean that apart from brokerage, the brokers are charging us extra on turnover basis?

 

[classifiedindian]

Dear BPR,

VPS has send me a mail.They are withdrawing their online trading platform.They have asked all the trader to stop taking positions and withdraw the money to their bank accounts.
So u have to delete VPS from ur broker comparison :rofl:

Have they shut down completely?