Discount Broker Comparison

[travi]

deposting back ? you mean payout to client bank account is instant ?

i mean when we need to send cash back to a/c after Quarterly settlement.

 

[augubhai]

2) Upstox - Was considering this previously, but there is a lot of negative reviews for them recently
pros - Leverage with 30 brokerage plan (20/28x) - But are they still giving it ?
Big broker, money perhaps safer ?
Used to be stable, better than Zerodha when they were RKSV. Not sure if its still true.
Nest - can just trade with my current tools with less initial effort.
cons - api seems to have been stopped and had lots of negative review when i last looked
Negative feedback from many after covid.
Square off time moved to 1500 ?

In spite of all the issues surrounding Upstox, I still continue to use them, maybe because I have been using them for years now. I have still not got around to checking other brokers. Since I am an old customer, I have the old 1947 freedom plan.

Very difficult to get your queries answered by them, since live support is non-existent since the lockdowns began. You could raise a support ticket, or ping them on Twitter, and expect a (sometimes nonsensical) response after a few days.

Leverage: They had removed all the high leverage plans after March. They have restored some of the leverage. 10X margins for CO/OCO, but I can't confirm because I don't use those products.
Withdrawals: Money is remitted within the next trading day. No issues so far.
Stability: I trade almost exclusively using Nest. Satisfied. Very rarely use the App and Web interfaces.
Support: Live support non-existent after COVID. Very slow response.
API: No idea. I do not use it.
Square Off: They mention 3:10 PM as the square off time, but actually square off at 3:20 PM. Before COVID, they used to square off at 3:15!!

 

[bpr]

Yes this time they delayed by a day and so all of my liquidbees trick went in vain and i missed a trade ( loss trade .. )
For liquidbee, below is the trick. You need to bring in additional money though to not miss a day.
I have not yet tested it because this time there was delay and the previous time they gave me wrong steps for trading Nifty.

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Monday is settlement day, Friday holiday. So using EOD balance on thursday


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If you trade stocks, then selling of liquidbee from demat on thursday will probably work too.



This was the explanation they gave me initially and i tried it for trading Nifty ( later they clarified that we need to sell one day before for Nifty)

"Note that we have the following segregation of accounts internally.
Securities side: Used for trading Stocks, Stock futures and Stock options.
Commodities side: Index futures and options, currency futures and options. "

Wow I had no idea about this that explains a lot ...why would they segregate like that stupid!!
Not fully understand there is a trick ...what if you have position on wednesday and u closed on thursday

also now uniform stamp duty is very high for delivery transaction
So for 10 lakh liquidbees trade you have to pay 150+ 40 brokerage (IB charge brokerage for delivery transaction unlike zerodha) + plus other charges of course
they need to waive stamp duty for liquidbees similar like STT

 

[lemondew]

Customer support on phone was not there even before covid. Had a tough time reaching them before opening an account. Glad to know their nest platform has no issues. Have not used them to trade since my fno ios inactive. The steps for the activating doesnt work through chrome and their customer support keeps saying the same steps which doesnt work. May be will have to try through IE.

In spite of all the issues surrounding Upstox, I still continue to use them, maybe because I have been using them for years now. I have still not got around to checking other brokers. Since I am an old customer, I have the old 1947 freedom plan.

Very difficult to get your queries answered by them, since live support is non-existent since the lockdowns began. You could raise a support ticket, or ping them on Twitter, and expect a (sometimes nonsensical) response after a few days.

Leverage: They had removed all the high leverage plans after March. They have restored some of the leverage. 10X margins for CO/OCO, but I can't confirm because I don't use those products.
Withdrawals: Money is remitted within the next trading day. No issues so far.
Stability: I trade almost exclusively using Nest. Satisfied. Very rarely use the App and Web interfaces.
Support: Live support non-existent after COVID. Very slow response.
API: No idea. I do not use it.
Square Off: They mention 3:10 PM as the square off time, but actually square off at 3:20 PM. Before COVID, they used to square off at 3:15!!

 

[augubhai]

Upstox also has the quarterly settlement - money in transit - issue. Couple of years back, the money used to get credited to the bank account at the end of the trading day, by 5PM or 6PM. But nowadays, the credit happens late in the next trading day.

However, you can transfer money to the trading account almost instantaneously, using their App or Web platforms.

 

[TracerBullet]

Not fully understand there is a trick ...what if you have position on wednesday and u closed on thursday

Yes, money has to be from outside your account, so wont work if all of it is with IB. Not great but that's the best option they have to avoid downtime.
If you sold on thursday from demat, then can trade stocks with that money next day, but not the index.

 

[kaly422000]

customer support is ok somewhat in tradesmartonline but their system is horrible. in my case i have an option transfer from gateway only ,not from neft . gateway also not working properly many times ,so risk is there

 

[TracerBullet]

Thank you all for the info ...

 

[bpr]

Demo of Protrader platform By Composite Edge broker

Protrader platform is very mordern slick desktop platform.
Composite edge is the first indian broker who is trying integrating indian market to the platform.
My first impression is great. Will give a detailed review later

 

[timepass]

Demo of Protrader platform By Composite Edge broker

Protrader platform is very mordern slick desktop platform.
Composite edge is the first indian broker who is trying integrating indian market to the platform.
My first impression is great. Will give a detailed review later

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Thanks. Will look forward to your posts about it.