Please share your experience with Geojit

#1
Hi,

I am new to trading and also I have just registered to Traderji (this is my 2nd post). I have opened a/c under Geojit along with Axis bank a/c. I know very little about trading. Till today in last 7 days (I got my account by that time only), i traded (basically bought) 9 securities in different quantities. However, my experience with the agent was pretty bad (so horrible that I am currently planning for a change in the trading platform also) and I am also pretty confused about their brokerage costs and other taxes, so that I can plan for a profit margin in the sold value and set it accordingly.

Is there anyone friend who has experience with Geojit? In fact, their CC is also pretty delayed and partially automated (as it seems, but not too sure though). So any help? Thanks in advance.

With warm regards,
Sudipa:)
 

VJAY

Well-Known Member
#2
Dear supida,
Am also used geojit but it is not useful for intraday trading.......for positional ok....
 
#3
hi sudipa,
i'm trading with geojit for last six month. till now i have a good experience with them. they charge 0.03% for intraday and 0.30% for delivery and the minimum is 0.01 paise. if you are facing problem with web based trading as it is little slow,you can change the platform to platinum. this option is there in the trading website itself. just click DOWNLOAD ITT and proceed
here is an investment process
Thanks munnabhai for your response. But take my one trading for example, I bought <security share2) 20 quantity with gross rate per security 181.90 costs me in total 3638.0000, but it actually returns me with 1.0000 gross borkerage per security with a total brokerage of 20.000. On the other hand, I bought <security share2> 100 quantity with gross rate per security 40.35 costs me in total 4035.0000, but it actually returns me with 0.2200 gross borkerage per security with a total brokerage of 22.00. Taxes are extra. Pretty confused. :(

Dear supida,
Am also used geojit but it is not useful for intraday trading.......for positional ok....
Thanks VJAY, I have not yet traded for intraday. In fact, before I started I thought it might be easy doing (how silly I was), but when I started I realized I need to know more before I drive in. What is positional (sorry for my ignorance, I am pretty new)? Is it long term or swing? :)
 
#4
Hi,

I am new to trading and also I have just registered to Traderji (this is my 2nd post). I have opened a/c under Geojit along with Axis bank a/c. I know very little about trading. Till today in last 7 days (I got my account by that time only), i traded (basically bought) 9 securities in different quantities. However, my experience with the agent was pretty bad (so horrible that I am currently planning for a change in the trading platform also) and I am also pretty confused about their brokerage costs and other taxes, so that I can plan for a profit margin in the sold value and set it accordingly.

Is there anyone friend who has experience with Geojit? In fact, their CC is also pretty delayed and partially automated (as it seems, but not too sure though). So any help? Thanks in advance.

With warm regards,
Sudipa:)
Sudipa
I am trading with Geojit for more than a year. Their service is good for me.
My brokerage for one lot is Rs25 per lot for Futures as well as options.
My brokerage in india infoline is Rs between 12 to 14 per lot.
Still I trade in Geojit . I trade mainly in short straddle and I get cross margin in Geojit means I have to keep less margin. I dont trade in cash. I trade mainly in Options. I use Platinum platform. It is good for intraday trading. Everthing is updated lively. I also have account in R.K Global and Reliance Money but still I trade in Geojit though their brokerage is on higher side coz I get cross margin for selling calls and puts. i.e I have to keep less margin .
I dont know other details. You can talk with them and try to negotiate.
If they negotiate and you are satisfied , you continue otherwise try to change the broker.
 

vasa1

Active Member
#6
Thanks munnabhai for your response. But take my one trading for example, I bought <security share2) 20 quantity with gross rate per security 181.90 costs me in total 3638.0000, but it actually returns me with 1.0000 gross borkerage per security with a total brokerage of 20.000. On the other hand, I bought <security share2> 100 quantity with gross rate per security 40.35 costs me in total 4035.0000, but it actually returns me with 0.2200 gross borkerage per security with a total brokerage of 22.00. Taxes are extra. Pretty confused. :(...
Geojit charges a minimum of Rs. 20 per contract note. This means your buy + sell should come to about Rs. 6,667 in order to "break-even" and get the 0.3% brokerage charge.

If, on the other hand your delivery sales + purchases are far less than Rs. 6,667 you will find the brokerage high!

Also note that separate contract notes are made for BSE and NSE. And for both exchanges, if you buy / sell in the T2T group, yet another contract note is generated.
 
#7
perhaps i am used to geojit; i feel it is comfortable. i do not bother about brokerage or taxes. that could be another reason for the immunity to discomfort. are they really more expensive than others? i would however, like to know.
 
#8
perhaps i am used to geojit; i feel it is comfortable. i do not bother about brokerage or taxes. that could be another reason for the immunity to discomfort. are they really more expensive than others? i would however, like to know.
Sorry, I had not been able to log in for a long time. Oh yes, Geojit is too costly in terms of brokerage. I found their customer service is also pretty poor, as you need to make long-distance call to fix any issues and they keep you on hold for a pretty long time. They are not very prompt in email response as well. My experience with the local customer service executive was horrible, he is the worst person I have ever met in the face of earth. I was new (still a newbie) when I opened the account in Geojit couple of months back. Despite being a newbie I was able to make 1400/- in 2 days giving them so higher brokerage as well. But it was not out of my knowledge, but you can say 'trial and error' and not really knowing much about trading. Since I was not getting a single day help from their end as a newbie (though AB promised the same, let's see), I just lost my interest to use their terminal.

Today, I opened a new account with Angel Broking. First of all, I got pretty low brokerage offer from them than I am getting from Geojit. The persons who came at my place were excellent in communication, seem to be helpful and pretty professional. Since I was ready to pay an initial amount of 30,000/- to my account, they didn't ask any further charge from me. They are flexible and easy to deal with. I am very excited and hopeful to have much better dealing with Angel Broking. Now, I am waiting for my account to open with them.
 
#9
Dear Sudipa.....

Eager to know your experience with Angel Broking.... i'm also a newbie, wanted to open an a/c with geo, since i have a/c with axis bank,
but after reading ur post, i have decided not to...... and save myself the hassle which i would have gone through, all thanks to ur post.

I'm also considering Angel..... pls share your experience and other relevant details for me and other newbies, who are looking to start trading.

Also any other seniors who would like to share or enlighten me, is more than welcome.

I thank u... in advance for your kind attention and feedback.

:)
Cheers!!​
 

vasa1

Active Member
#10
Please post material relevant to Geojit, plus or minus.

Material on Angel Broking may please be posted in a thread for Angel Broking.
 

Zerodha – Open Paperless Account

Open online account with Zerodha. Free delivery trading and Max Rs 20 for Intraday, F&O, Currency and Commodity Trading. Intraday High leverage with MIS, CO and BO.

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