Re: Latest Broker comparison 2009 - ICICI/ ShareKhan/ Religare/ Indiabulls/ 5paisa et
In addition to higher brokerage and inadequate software ,you typically would not be able to short-sell in brokerage accounts held with major banks like ICICI Direct and HDFC Sec. They target mainly investors though both types of trading namely investment and intra-day trading is possible.
If you mean how much it takes to open an account it is around 1650 (because 750 for the PIB sw) in Indiabulls or 850 for Sharekhan.
Since you are in Mumbai demat accounts get activated much faster there.
If you apply as an NRI, higher brokerage is chargeable as per the regulations.
Since standalone brokerages need constant or periodic followup to ensure money gets credited,it would seem that bank based brokeages are more suitable for you like ICICIDirect, HDFC Sec, IDBI Sec, Stanchart Wealth managers and Kotak Sec,SBI-EZ (with Motilal Oswal).
Typically banks like Axis Bank,HDFC Bank,ICICI Bank and IDBI Bank are preferred .These have online banking facility but minimum average quarterly balance is required of 5000 for Axis bank, 10000 for HDFC Bank,ICICI Bank, 1000 for IDBI Bank (though not all support this bank) etc. maybe thats what for friend was referring to. Banks take longer to open an account so do this first.But it depends which of these have a branch in Dubai.
Hi friends,
Im an NRI based in Dubai.. been wantin to start trading for the last 2 yrs... cud never do it 'cos i din have a PAN card. Now, ive come to mumbai fr a short vacation and FINALLY applied for a PAN card which i should recieve within next 10 days.
Now, my cousins here deal via INDIA INFOLINE for their trading and recommended me the same. Problem is.. they're beginners too.. never did research.. jus opened an account wid INDIA INFOLINE and whenever any requirement dey call up der're dealer and BUY/SELL.
So i thot id google a bit and see if i can get info before i jump into INDIA INFOLINE... and hence stumbled upon Traderji.com ( which btw is THE best site ive ever come across for discussions related to trading ! ). Now the problem is i read almost ALLLLLLL the queries put up and now im TOTALLLLLY confused !
My requirements :
1) Open a trading account. either 3 in 1 account or via a brokerage firm and den a saving account elsewhere ( P.S : i dont have a savings account yet cos i had NRI accounts and dont wanna link dat ) So, in case i open via INDIA INFOLINE or SHAREKHAN or INDIABULLS, will dey open da savings account too or can any of u suggest a better option for a savings account as well ?
2) I wont be trading frequently..meaning.. i mite purchase few shares one day and keep its for months....den sell it if i think it gained enuf... OR.. if its a holiday for me.. i mite sit 24 hrs on da pc and buy few shares in bulk and immediately sell it within 5 mins if it rises ( yeah i kno.. dumb )
3) Should be able to purchase IPO ( cos i read sumwher dat some firms don give dat option ).
4) MAIN POINT : Like my cousins and most of u pple, i wont be able to buy/sell over the phone cos i dont think callin my broker every one hour Dubai-Mumbai is possible for me.. so i need an option where i can do all dis over da phone without a need to call anyone...
5) Lastly, pls pls pls can anyone tell me how much wud i require to start up dis entire process ? Meanin, my cusin tol me.. initially i wud require atleast Rs.5000. Is it true ?
Im sorry for such a huuuuuge qurey.. but as u can see im totally confused and if i go like dis directly to any broker im dead sure he is gonna loot me thinkin im sum dumb NRI
My vacation ends 22 March.. so i need to finish all dis b4 dat !
Thanx a lot in advance ! :thumb:
Arun ( Confused Soul )
Im an NRI based in Dubai.. been wantin to start trading for the last 2 yrs... cud never do it 'cos i din have a PAN card. Now, ive come to mumbai fr a short vacation and FINALLY applied for a PAN card which i should recieve within next 10 days.
Now, my cousins here deal via INDIA INFOLINE for their trading and recommended me the same. Problem is.. they're beginners too.. never did research.. jus opened an account wid INDIA INFOLINE and whenever any requirement dey call up der're dealer and BUY/SELL.
So i thot id google a bit and see if i can get info before i jump into INDIA INFOLINE... and hence stumbled upon Traderji.com ( which btw is THE best site ive ever come across for discussions related to trading ! ). Now the problem is i read almost ALLLLLLL the queries put up and now im TOTALLLLLY confused !
My requirements :
1) Open a trading account. either 3 in 1 account or via a brokerage firm and den a saving account elsewhere ( P.S : i dont have a savings account yet cos i had NRI accounts and dont wanna link dat ) So, in case i open via INDIA INFOLINE or SHAREKHAN or INDIABULLS, will dey open da savings account too or can any of u suggest a better option for a savings account as well ?
2) I wont be trading frequently..meaning.. i mite purchase few shares one day and keep its for months....den sell it if i think it gained enuf... OR.. if its a holiday for me.. i mite sit 24 hrs on da pc and buy few shares in bulk and immediately sell it within 5 mins if it rises ( yeah i kno.. dumb
)3) Should be able to purchase IPO ( cos i read sumwher dat some firms don give dat option ).
4) MAIN POINT : Like my cousins and most of u pple, i wont be able to buy/sell over the phone cos i dont think callin my broker every one hour Dubai-Mumbai is possible for me.. so i need an option where i can do all dis over da phone without a need to call anyone...
5) Lastly, pls pls pls can anyone tell me how much wud i require to start up dis entire process ? Meanin, my cusin tol me.. initially i wud require atleast Rs.5000. Is it true ?
Im sorry for such a huuuuuge qurey.. but as u can see im totally confused and if i go like dis directly to any broker im dead sure he is gonna loot me thinkin im sum dumb NRI
My vacation ends 22 March.. so i need to finish all dis b4 dat !
Thanx a lot in advance ! :thumb:
Arun ( Confused Soul )
If you mean how much it takes to open an account it is around 1650 (because 750 for the PIB sw) in Indiabulls or 850 for Sharekhan.
Since you are in Mumbai demat accounts get activated much faster there.
If you apply as an NRI, higher brokerage is chargeable as per the regulations.
Since standalone brokerages need constant or periodic followup to ensure money gets credited,it would seem that bank based brokeages are more suitable for you like ICICIDirect, HDFC Sec, IDBI Sec, Stanchart Wealth managers and Kotak Sec,SBI-EZ (with Motilal Oswal).
Typically banks like Axis Bank,HDFC Bank,ICICI Bank and IDBI Bank are preferred .These have online banking facility but minimum average quarterly balance is required of 5000 for Axis bank, 10000 for HDFC Bank,ICICI Bank, 1000 for IDBI Bank (though not all support this bank) etc. maybe thats what for friend was referring to. Banks take longer to open an account so do this first.But it depends which of these have a branch in Dubai.
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