Need feedback on Sharekhan, 5paisa, Reliance Money, Kotak, Angel

[lazytrader]

The deduction of money from bank account happens automatically at EOD with every broker. The one that appears in the contract note should be the same. They are most probably not charging you twice but you need to understand the charges well. As long as you have all the contract notes and bank statements you are safe.

BTW, justtrade is one of the worst when it comes to platform. They use the same one as eZTrade/SBI/Motilal Oswal uses.

 

[harshatmehta]

Thanks for the reply. But they do like this.
First they deduct charges like brokerage, taxes etc.,. from the money we have deposited with them. Suppose if I buy 8 Satyam shares at 74.40 and gross total will be 595.20 and Net total after their brokerages and taxes will be 594.44.

Now if I sell Satyam computers 8shares for eg.73.30 totals 586.40 and after brokerages and taxes it will be 586.16.

So a loss of Rs.8.28. This 8.28 will be automatically deducted from my balance amount with the.

If I have a balance of 2500 with them and then after this transaction my balance with them will be Rs.2491.72.

But after a month if we check our bank account, we can find Rs.21 deducted from my bank balance through ECS. When asked their CC, they say it is called DMAT charges and will be applicable for each and every transaction. If I sell just one share still that Rs.20 will be taken from my bank account. They are not clear whehter it is applicable for intraday or not.

 

[vihar_trader]

Thanks for the reply. But they do like this.
First they deduct charges like brokerage, taxes etc.,. from the money we have deposited with them. Suppose if I buy 8 Satyam shares at 74.40 and gross total will be 595.20 and Net total after their brokerages and taxes will be 594.44.

Now if I sell Satyam computers 8shares for eg.73.30 totals 586.40 and after brokerages and taxes it will be 586.16.

So a loss of Rs.8.28. This 8.28 will be automatically deducted from my balance amount with the.

If I have a balance of 2500 with them and then after this transaction my balance with them will be Rs.2491.72.

But after a month if we check our bank account, we can find Rs.21 deducted from my bank balance through ECS. When asked their CC, they say it is called DMAT charges and will be applicable for each and every transaction. If I sell just one share still that Rs.20 will be taken from my bank account. They are not clear whehter it is applicable for intraday or not.

In intraday there is no such charge.
In delivery
CDSL charges



** The following tariff structure will be effective from Wednesday, April 01, 2009.


Monthly Transaction bill amount
(@Rs.6/-per transaction)
(in Rs.) Rate per
Debit Transaction
(in Rs.)
More than Rs.15 lakhs 4.75
More than Rs.4 lakhs and upto Rs.15 lakhs 5.00
More than Rs.1 lakh and upto Rs.4 lakhs 5.50
Upto Rs.1 lakh 6.00

 

[lazytrader]

About Rs.20 for the transaction seems right.

I believe that the transcation you have mentioned is the actual one you have made. If you see the difference between the costs it is too low. I agree that their explanation may not be satisfactory but I think the charges are alright. Give me more details like the brokerage rate and whether this was an intraday trade? Looks like intraday to me.

You should have received a contract note. Put up a screeshot and we'll try to figure out if there is a problem with it.

 

[harshatmehta]

In intraday there is no such charge.
In delivery
CDSL charges



** The following tariff structure will be effective from Wednesday, April 01, 2009.


Monthly Transaction bill amount
(@Rs.6/-per transaction)
(in Rs.) Rate per
Debit Transaction
(in Rs.)
More than Rs.15 lakhs 4.75
More than Rs.4 lakhs and upto Rs.15 lakhs 5.00
More than Rs.1 lakh and upto Rs.4 lakhs 5.50
Upto Rs.1 lakh 6.00

Thanks for the reply. Is this for justtrade? Rs.6 per transaction even for intraday or only for delivery? I am a tiny trader.

 

[harshatmehta]

About Rs.20 for the transaction seems right.

I believe that the transcation you have mentioned is the actual one you have made. If you see the difference between the costs it is too low. I agree that their explanation may not be satisfactory but I think the charges are alright. Give me more details like the brokerage rate and whether this was an intraday trade? Looks like intraday to me.

You should have received a contract note. Put up a screeshot and we'll try to figure out if there is a problem with it.

Thanks for the reply. In the contract note we cannot find that Rs.20. I will put screen shot and also the bill which they sent a month later soon.

 

[mark_sas30]

hi

just opened an account with angel week back did my first trade as soon as they gave me client code , till now not recvd the contract copy through post nor through mail.

i already have odin platform from different broker, when i installed odin from angel it overrided the previous odin, now i am thinking of changing my product to angle anywhere can some body throw some light on the working of angel anywhere

 

[lazytrader]

Some say angel anywhere is not ODIN. How come something like that happened. you most probably installed ODIN the the same folder as your old installation. If you make anyother folder and install then you should be able to use ODIN from both.

Ask them for the contract note. I think you can also download it from the backoffice link.

 

[Sunny1]

Some say angel anywhere is not ODIN. How come something like that happened. you most probably installed ODIN the the same folder as your old installation. If you make anyother folder and install then you should be able to use ODIN from both.

Ask them for the contract note. I think you can also download it from the backoffice link.

Right angel anywhere is not odin. most brokers provide either odin or trade anywhere software but angle provides both of them.

 

[lazytrader]

Trade anywhere is a software? I thought it was a web based platform that meant you could "trade" - "anywhere". Could you post some screenshots?