Indian Trading League / SAMCO

#1
Hello Guys, this ITL thing is much in news these days, specially because Kapil Dev is advertising for it.

I have not registered for it, but I visited their website and picked up the following.

1) The broker is SAMCO (formerly Samruddhi)
2) The trading platform is what they call SAMCO trader, looks like Nest trader to me.
3) The charges are competitive and comparable to the other discount brokers. Here's the charges list. I don't know about the account opening charges.
4) They don't seem to have Bracket order, at least not in their span calculator.
5) The minimum initial capital is Rs. 25000/-

Anything else ? Please use this thread for comments about Indiantradingleage/ SAMCO.

Anyone here using SAMCO's services ? Give your feedback please.
 

manishchan

Well-Known Member
#2
Hello Guys, this ITL thing is much in news these days, specially because Kapil Dev is advertising for it.

I have not registered for it, but I visited their website and picked up the following.

1) The broker is SAMCO (formerly Samruddhi)
2) The trading platform is what they call SAMCO trader, looks like Nest trader to me.
3) The charges are competitive and comparable to the other discount brokers. Here's the charges list. I don't know about the account opening charges.
4) They don't seem to have Bracket order, at least not in their span calculator.
5) The minimum initial capital is Rs. 25000/-

Anything else ? Please use this thread for comments about Indiantradingleage/ SAMCO.

Anyone here using SAMCO's services ? Give your feedback please.
Yeah.... saw this in news yday. SAMCO has cm up wid good idea to get customers...else quite difficult to survive in diacount brokerage business against big players like zerodha nd rksv.. :D
 
#3
Yeah.... saw this in news yday. SAMCO has cm up wid good idea to get customers...else quite difficult to survive in diacount brokerage business against big players like zerodha nd rksv.. :D
Yes, this will certainly attract new customers. The initial capital requirement is also quite low. For experienced traders, they will check out the facilities and the trading platform and the services feedback.
 

TraderRavi

MM is the holy grail
#4
1 lot BNF charges coming around 130 including stampduty , while in zerodha its 115 + fix stamp duty of 50 per day. stamp duty if not fix may prove costly if > 3 trades per day. default state is maharahtra in brokerage calculator , as samco is mumbai based.
 

Jai Mata Di

Well-Known Member
#5
Another problem is Total Margin Requirement for Nifty & Bank Nifty is 10%, which is much higher than Zerodha's 8%. :annoyed:

But as they are giving advertisement in CNBC & many traders trading with old traditional brokers like SBI, HDFC, ICICI etc can find them attractive. Many traders still don't know much about discount brokers concept. :lol:
RKSV & Zerodha would feel the heat for getting new customers as they are not marketing aggressively.

Discount brokers need constant flow of new customers as most of new traders stop trading within 1st 3 years.
It is time for Zerodha to give 60 day challenge winners more incentives, only brokerage return is not enough. At least few lacs prizes for top 3 spot. :p

Anyway more competition is always good for traders. Some one with more advanced terminal, some one with 1 Cr prizes, some is giving data feed,MT4 free. Some new offer to come as competition is heating up in discount brokers section. :)

Happy Trading.

H.C.
 

rmike

Well-Known Member
#7
Would have liked to participate in the intraday format

However, don't find the present rate structure of a fixed Rs 20/- per order as being optimal for intraday purposes, there being multiple buy/ sell, scale in/ scale out orders per day. IMO a percentage model e.g 0.005% of total qty (equity cash segment) is better suited for the purpose

Furthermore, there doesn't appear to be any value addition in terms of a better platform or order execution system

IMHO the real game changer would be the guy who can combine a potent platform + order variety (OCO, OCA, auto/ semi auto etc) + data bridge with reasonable (not necessarily the cheapest) brokerage and reliable infrastructure/ customer support

I consider the rest of the hoopla as mere gimmickry

My 2c :)

Regards,
 
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#8
Seeing the success of discount brokers, many wanna be me too discount brokers have cropped up recently in a typical display of "bhed chaal" mentality of Indians. ITL, which is offering nothing new, seems to be one of them.

Not only this broker in question is offering anything new, apart from the competition gimmick to hoodwink amateurs, it looks like from the available information that they are changing their business model from full to discount one. Transformation like this is not easy and simple. What legacy issues can do to the health of bottom-line and balance sheet is no secret.

As someone who is not quite happy with well established discount brokers, this is what I would like to see in a new discount broker before trying out its services.

Number one: show me whether you have got better, or at least equivalent of, trading platform than Sharekhan or not.

Two: do you have NSE co-located servers? Having it is a big plus, in my opinion. It costs a lot maybe, but its importance in data reliability, order execution and speed cannot be belittled.

Three: basic things (equally important mind you): transparency, track record, customer support, trading tools, decent margin etc.

I am willing to pay slightly higher brokerage, but I want most of the things mentioned here.
 

simplebuthard

I can work as trade executor. Anyone in need?
#9
To win 1 crore, I think we should be able to make at least more than 1000% in a year.

So I guess even the consistent profitable trader who makes 300% to 500% annually wont prefer joining this contest.

Because I have seen one of Zerodha winner interviewed who said by just having fixed 50000 capital he withdraws more than 1 lac each month that means monthly 200 %.

So this type of advertisement (big lump sum prize and Kapil dev ) can attract new customers who are completely new to stock markets. They can't attract existing traders.
 

TraderRavi

MM is the holy grail
#10
To win 1 crore, I think we should be able to make at least more than 1000% in a year.

So I guess even the consistent profitable trader who makes 300% to 500% annually wont prefer joining this contest.

Because I have seen one of Zerodha winner interviewed who said by just having fixed 50000 capital he withdraws more than 1 lac each month that means monthly 200 %.

So this type of advertisement (big lump sum prize and Kapil dev ) can attract new customers who are completely new to stock markets. They can't attract existing traders.
people can make very high return in few trades then just low level trades to protect that high percentage , zerodha posted once a delhi boy got 800% in one month in few lakhs account.
 

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