Need advice on opening new trading and demat account.

#1
Hi ,

I am a total newbie and want to learn trading . So I have decided to open the necessary trading and demat accounts.

I intend to trade with only Rs.10,000 in the first 3-4 moths while learning the basics.

I have visited various brokers, best offer I am getting is from Kotak Bank, I already have a savings account with them and they are asking 2 paisa on intraday,20 paisa on delivery trades and 100 per trade for options. In addition to that they have offered to waive off demat and trading account charges for first year if I open my trading account with more than 50,000 Margin money.

They assure that, I can transfer this margin back to my savings as soon as my trading account is opened and no minimum balance in trading needs to be maintained.

Kindly advise, whether its good to open the new account with Rs. 50,000 margin money for avoiding account opening charges? I am weary of any hidden clause or charges. Also, suggest what other factors should I consider if I am to go with other broker.


Thanks a lot. :thumb:
 
#3
Hi Pakatil,

Thanks for the reply. Actually my initial trade volumes will be very low. This account will be just for learning purposes. So I am more concerned about saving the account charges.

What do you suggest, also I havent gotten any better rates in Chandigarh/Panchkula although I have only been to Banks.

Please advice on the margin money thing.

Thanks
 

pakatil

Well-Known Member
#4
Kis zamaane ho bhai...???

To save few hundred rupees of a/c opening charges, why are you jumping in to Astronomical Charges of Old Time Brokers.

In this Cyber world, it does not matter where you stay.

Cheers :D
 
#10
Is Kotak Bank your local bank? If yes then go ahead and try them out. But if it's not the case then search for some offshore broker with awesome conditions, bonuses, Micro accs, freebie, etc and you will be happy with them. Just take a stock of broker section there, you will find a lof of useful info regarding your choice.
 

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