Need to change broker , Help please in dilemma

#1
Hi Guys,

I was off from traderji for sometime and i am back from where i left it i.e. trading.

Last when i left , Zerodha was making waves and now there are another 4-5 brokers who have mushroomed with very strong reviews. Too many choices leaves one confused and so am i. I am looking forward to some help from you guys looking at my trading style. Hope you guys will help me out in choosing a broker.

Few facts about my trading style
I am currently with a a reputed broker who is apparently making tons of money out of me and is charging 0.06% from me in F&O ( both ways).
I am a high volume trader and so my brokerage outgo is pretty solid every year.
The reason i am with this broker is cos i never had any issues with margins or debits. I get exposure against shares and big debit balances are never a worry for few weeks. So i am rest assured in terms of RMS or positions being squared off.

This high brokerage thing is hurting me and i am planning to shift to a broker , who will be lenient with pay ins and margins ( like the one i have now). Its not that i cant pay money but its just that i dont want to get into daily pay ins and pay outs , I am not a stop loss guy and hence losses are carried forward for some time and then averaged to come back to break even levels if not profits.
I know these low cost brokers are very strict with pay ins but who is the best and is lenieint. Also who is the best with orders on phone as i am travelling on few occassions and tend to trade over call at times.

It will be great , if you guys can recommend broker to me who offers better margin exposure on cash/demat ,who is slightly lenient with Payins and has decent call n trade option. Thanks in advance guys.
 
#3
Hi Guys,

I was off from traderji for sometime and i am back from where i left it i.e. trading.

Last when i left , Zerodha was making waves and now there are another 4-5 brokers who have mushroomed with very strong reviews. Too many choices leaves one confused and so am i. I am looking forward to some help from you guys looking at my trading style. Hope you guys will help me out in choosing a broker.

Few facts about my trading style
I am currently with a a reputed broker who is apparently making tons of money out of me and is charging 0.06% from me in F&O ( both ways).
I am a high volume trader and so my brokerage outgo is pretty solid every year.
The reason i am with this broker is cos i never had any issues with margins or debits. I get exposure against shares and big debit balances are never a worry for few weeks. So i am rest assured in terms of RMS or positions being squared off.

This high brokerage thing is hurting me and i am planning to shift to a broker , who will be lenient with pay ins and margins ( like the one i have now). Its not that i cant pay money but its just that i dont want to get into daily pay ins and pay outs , I am not a stop loss guy and hence losses are carried forward for some time and then averaged to come back to break even levels if not profits.
I know these low cost brokers are very strict with pay ins but who is the best and is lenieint. Also who is the best with orders on phone as i am travelling on few occassions and tend to trade over call at times.

It will be great , if you guys can recommend broker to me who offers better margin exposure on cash/demat ,who is slightly lenient with Payins and has decent call n trade option. Thanks in advance guys.
Hi,
The things u mentioned i don't thing u will get with the discount brokers,
they are very strict about margins and all and about exposure against shares.
I think u should negotiate with ur current broker, the amount of volume u trade,u can do that .Contact one or two more other brokers and negotiate with them.They also have fixed advance monthly brokerage plan (atleast religare used to have it).Once nirmal bang also offered me one .Since the inception of discount brokers these traditional ones must be facing shortage of clients and will do anything to keep their high turnover client with them:)
 
#5
Now i don't deal in delivery of stocks so i don't know much about it, when i used to do that i did in religare and nirmal bang and they used to provide margin against shares,but they never provided margin for futures against stocks.
 
#6
what was the brokerage u were paying..... I am currently paying 0.03% one side , is it too high for high volumes. what could be the lowest i should aim for ( Ex discount brokers)
 
#7
what was the brokerage u were paying..... I am currently paying 0.03% one side , is it too high for high volumes. what could be the lowest i should aim for ( Ex discount brokers)
Its too much, 3 yrs back i paid .015 for religare advance brokerage plan and after that in nirmal bang .02.And i dont trade frequently like u and dont have volumes like u have.
I also had an account with angel they gave me 1 paisa with the condition 1 lakh margin in the account.
Services of all 3 are good for me.
The will easily give u 1 paise and may be lower than that if u can generate big volumes , u can negotiate on it.
Nirmal bang used odin at that time and Religare had odin for equities and commodities but 2 odins,now what they use i don't know.
Angel uses odin for all segments.
BMA is also fine one of my friends have account there.1 paisa,uses Nest as terminal.
Y don't u do one thing, go to each of the brokers website. fill the contact me form , they will contact u by themselves then u can talk to them and negotiate, i m sure u will get a better deal than this.:thumb:
U can also talk to discount brokers and ask them what u want.
May be somebody provides u specially considering ur turnover but i doubt that.
 
#8
wow , so i have been a big donor to these idiots ...... I will make sure i teach them a good lesson ...... the only comforting thing is that my losses will be reduced now cos of low cost. i am aiming for 0.01% now. RIP high cost brokers
 
#9
wow , so i have been a big donor to these idiots ...... I will make sure i teach them a good lesson ...... the only comforting thing is that my losses will be reduced now cos of low cost. i am aiming for 0.01% now. RIP high cost brokers
1 paisa is the starting benchmark for negotiation these days :rofl:, earlier they used to say 3 paisa and come down to 2p or 1 depending upon the client.
U should aim below this.
I remember nirmal bang said me that if i will give them 1 crore turonver daily they will charge 800Rs per crore at that time which is .008%.
If ur turnover is big target .005 or a monthly brokerage plan if u r regular trader.
One thing more if u know ppl who trade then u can become sub broker of these compaines.The person who opened my account was a subbroker of nirmalbang .These sub brokers open account of ppl in 2 or 3 paisa and give the company around 800-900 per crore as brokerage from trading of their clients and the difference in brokerage is theirs.
But to bcome a subbroker their are some conditions of security deposit,affidavit blah blah.
I dont know much but that person told me afterwards that he opened my account in 2 paisa but he pays only .008% to the company.
The rest difference of brokerage is returned back to him after the deduction of the TDS by the company.:):)
 
#10
I will be negotiating with them hard and recently i am told it will be 0.02% not below that and i am surprised that brokerage can be so low too. I am just paying crazy amount of money to these idiots.
 

Similar threads

Broker Special Offers

Intraday Higher Leverage

Save up to 90% in brokerage and get higher leverage for intraday trades.

Name:Phone:
Email:City:
State:
Are you a day trader?