Professional Trader seeking Alternatives

Orb

New Member
#1
Hi,

I need some advice from fellow members regarding brokerage and convenience. I am a trader by profession and my turnover ranges from Rs 4-6 Cr a month per a/c. I am not a pukka technical trader and hence dont rely upon charts a whole lot. Right now I trade through numerous brokers (Ibulls, religare, kotaksec) who charge me (0.01% - 0.02%) for Intraday/F&O trades.

I personally like Indiabulls PIB even though it has lot of restrictions. The brokerage I pay at Indiabulls is 0.015% for intraday and F&O. I am negotiating for a brokerage of 0.01% for the same. Is it common to easily get a rate of 0.01% for such volumes at indiabulls??

I came to know about Zerodha and Smart trade recently.
Are their applications comparable to Indiabulls PIB?? .i.e ease of order placement and execution, fast watch list updation, real time updation of open positions etc etc.

Is ODIN better than PIB??

Who is the best broker and application for my requirements??

Thank you.
 

Subhadip

Well-Known Member
#2
Hi,

I need some advice from fellow members regarding brokerage and convenience. I am a trader by profession and my turnover ranges from Rs 4-6 Cr a month per a/c. I am not a pukka technical trader and hence dont rely upon charts a whole lot. Right now I trade through numerous brokers (Ibulls, religare, kotaksec) who charge me (0.01% - 0.02%) for Intraday/F&O trades.

I personally like Indiabulls PIB even though it has lot of restrictions. The brokerage I pay at Indiabulls is 0.015% for intraday and F&O. I am negotiating for a brokerage of 0.01% for the same. Is it common to easily get a rate of 0.01% for such volumes at indiabulls??

I came to know about Zerodha and Smart trade recently.
Are their applications comparable to Indiabulls PIB?? .i.e ease of order placement and execution, fast watch list updation, real time updation of open positions etc etc.

Is ODIN better than PIB??

Who is the best broker and application for my requirements??

Thank you.
Go for Zerodha..it is good..
 

sumosanammain

Well-Known Member
#3
Kick Indiabulls. Go for Zerodha.

Indiabulls has stupid restrictions, like you can place both a buy and a sell order together to take advantage of a breakout or breakdown.

Plus, their rates refresh like a bullock cart, while Zerodha refreshes like a rocket.
Zerodha is good brokerage wise also
 

pakatil

Well-Known Member
#4
When Others like Zerodha, RKSV, SmartTrade, RKG.....etc are offering flat price per Lot /or Order, why do we chase PIB or Share Khan begging them to reduce Brokerage. Am really perplexed. :confused:
 

Orb

New Member
#5
The reason for sticking with big brokerage is the margin funds. Is it safe to park a Million Rs with Zerodha/SmartT/RKG. Solvency issues basically, since they are very small.
 

sumosanammain

Well-Known Member
#6
The reason for sticking with big brokerage is the margin funds. Is it safe to park a Million Rs with Zerodha/SmartT/RKG. Solvency issues basically, since they are very small.
Correct point. Please scan and upload the bank guarentee that Indiabulls is offering for your funds. I would love to take a look at it.

And yes, any broker can go insolvent, so the only way out for you is to take individual membership of the NSE for 10 lakhs. They have very few compliance procedures for Proprietary brokers.

They have made this provision just about 6 months back.

Only restriction is that only family accounts can be traded through that brokerage, not for clients.
 

sumosanammain

Well-Known Member
#7
When Others like Zerodha, RKSV, SmartTrade, RKG.....etc are offering flat price per Lot /or Order, why do we chase PIB or Share Khan begging them to reduce Brokerage. Am really perplexed. :confused:
Most people are afraid of disturbing the status quo. Thats all.

Doing something about brokerage means that if now they have the best broker, there is no one to blame for the losses.

At least now they can blame high margins, low refresh rates, and high brokerage for their losses.

A professional trader will not even spit at brokers like indiabulls and sharekhan, after discount brokers have come into the picture.

Indiabulls wants volume commitment of 3 to 5 crores per month for .01 paisa bkg. Zerodha gives you 20 rs per order even if you trade once in 3 months.

And you know the funny thing... when their RM calls up to ask why I do not trade in the account, and I mention Zerodha, the poor RMS havent even heard of them. This is the level of ignorance that their RMs have. He is supposed to be a sales professional. If he has no knowledge about the competition, I would not waste my time talking to such a person.
 

Orb

New Member
#9
sumosanammain, pakatil,

Most of the members seem to favor Zerodha and SmartTrade. Now, which one among these two?? Overall which one scores over the other??

Thank you.
 

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.

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