Just opened account with angel

[chetanbang]

Annual maintenance fee is 300 Rs. I dont know about the margin.. can you explain what is 'margin'.. I think, i have given initial checqueue of 25K so 25K is margin..

Yeah margin is 25k, so if you have exposure of 4 times you can trade upto 1 lakh a contract. It is like trading with borrowed money from broker to increase profits.

 

[VijayDT]

Hi,

Can you let me know whether they gave the brokerage rate charges for you to sign at the time of opening the account along with other forms or did they sent it later?

All the formalities and signing of documents would happen in one go.... initially my brokerage was high, but as my volumes increased, I got a lower brokerage. That is how it is...

 

[alroyraj]

I was told that minimum brokerage will be Rs.30/- buy and Rs.30/- sell intraday and also Rs.30/- buy delivery and Rs.30/- sell delivery. Pls let me know, it seems these are different based on bargaining capabilities.

1) By the way dont you think that if you purchase Mini Nifty Futures 1 Lot i.e. 20 x 5425 = 108500/-, the brokerage on this should be Rs.21.70 so if you agree for the minimum brokerage of Rs.30.00 then if you buy Mini Nifty Futures 1 Lot, you will have to shell out another 8.30 to Angel.

Since intraday per leg is 21.7 then total trade=B+S will be 21.7*2=43.4 Rs subject to a min of Rs 30 assuming no other trades that day. So this encourages higher value trades. So no prob. people here have confirmed it is
per contract note.So maybe your Rm was mistaken.

Morover, i believe that for shares value less than Rs.100/- Angel charges minimum Rs.100/- could you confirm.

The threshold is 80 Rs. below which the percentage rate is the min brokerage charges here it will be 2 paise.

By the way, did you sign the Brokerage Rate Form or did they say that only these rates will be applicable and that these will be confirmation phone call to check that is the rate given to the client.

Regards,

I want to know this too.

All the formalities and signing of documents would happen in one go.... initially my brokerage was high, but as my volumes increased, I got a lower brokerage. That is how it is...

Angel has the benefit of lowering the brokerage with an advance cheque of 25k,why to wait and hope for a brokerage reduction. It depends not only on your volume but how well the branch and especially the clients of your RM is doing, basically extraneous reasons.

 

[snimavat]

By the way, did you sign the Brokerage Rate Form or did they say that only these rates will be applicable and that these will be confirmation phone call to check that is the rate given to the client.

Sales representative has told me that this rates will be application only.. there won't be any call to confirm rates.. I dont know if he took my sign on the brokerage form

 

[VijayDT]

Sales representative has told me that for intraday, min brokerage would be either for buy or for sell but not for both. You should confirm with angel though, Or he might have lied to me.. either you or me has been cheated thn..




I don't know about this.. will have to check..

Minimum brokerage is Rs 30 per contract, it is not on individual legs(buy and sell).

 

[snimavat]

Minimum brokerage is Rs 30 per contract, it is not on individual legs(buy and sell).

So it will be 30 for But+sell and not on individual right..

 

[alroyraj]

So it will be 30 for But+sell and not on individual right..

Absolutely right.

 

[goodstocks]

Motilal is charging minimum of 25 for nse intra and deliv and 25 for trade to trade stocks and 25 for bse stocks seperately.

 

[alroyraj]

Motilal is charging minimum of 25 for nse intra and deliv and 25 for trade to trade stocks and 25 for bse stocks seperately.

Most brokerages targeted at investors have these charges like ICICI Direct, HDFC, Edelweiss (probably), Geojit, Motilal Oswal.

 

[snimavat]

I got my userid/password today. Cheers