questions about online broker!

#1
hello and namaste all
i am a new user on the site.
i have been using ICICIdirect.com for around 3 months now, and i am kinda getting frustrated with it because of its high brokerage, slow execution and unavailability of streaming quotes. it is obvious that the interface is good for an investor (the brokerage has been reduced now a bit), and good for MFs and stuff, but simply not for trading!
i checked out the indiabulls site for power indiabulls, and also the 5paisa.com site... i kinda glanced at sharekhan too.. but since these websites dont list the complete features and u have to contact one of their representatives to get more info, I was wondering if ppl who use these sites can tell me a bit about them?
obviously, i am kinda in favor of 5paisa.com because they claim that they charge 0.05% brokerage, which sounds cool as i pay double of that on icici. indiabulls has 0.1% which is the same as icici, but their software for power indiabulls really impressed me. since i have been with icici, i dont know how the payment gateway system works. so can please some of u answer a few of my questions?
1. i read somewhere in this forum that 5paisa.com has a software fee of around 700 rupees per month. is it true? if it is, i think it is a lot. if it is one time, its fine for me. how about power indiabulls? are there any minimum brokerage requirements? what are the fees for account otherwise?
2. does 5paisa.com have a cool real time software like indiabulls?
3. do either of these allow to place trade before the exchange opens? on icici i can never place the trade before around 10:02 and mostly i do miss some opportunity by that... like yesterday i missed around 1% increase in Infosys just because of this crap...
4. ok, finally.. how does this payment gateway thing work? and also how abt the demat account? so since i have a icicidirect.com account, i have a bank account with them and also a demat account. so lets say i start trading with lets say 5paisa.com (is indiabulls any different btw?).. so can i directly deposit my money through the payment gateway? how long does it take to transfer the money? can i do it like at 9 am when i wanna start trading at 9:50? and how about withdrawing money into my icici account? how long does that take?
and abt demat.. how long does it take to transfer stocks? so in case i buy a stock today and wanna sell it day after, since prolly till then it cannot be into my demat account, does it still allow me to sell it?

if you guys can answer these questions, i will be really grateful...
keep up the good work..
thanks a ton
abhinav :)
 
#3
abhinav said:
can someone please help me with my queries??
thanks
Hi,

I do not know abt 5paisa site,but I am trading with Sharekhan. I have compared the brokerages with 5paisa and I think by and large almost all of them work out to around the same. It is only the mode in which it is charged that is different. For e.g there is no software usage fee with sharekhan while you have to pay some amt on this with 5 paisa.

Coming to Sharekhan:

1.The brokerage structure is like this.

For Intra-day Trades :-

0.1% on the buy side and 0.1% on the sell side. This is subject to a minimum
brokerage of 5 paise per share. This means that if the share price you trade in
is Rs 50/- or less, a minimum brokerage of 5 paise per share will be charged.

For Delivery Based Trades :-

0.5% of the traded value. This is subject to a minimum brokerage of 10 paise pershare. This means that if you trade in any scrip whose share price is Rs 20/- or less, a minimum brokerage of 10 paise per share will be charged.

As per the afforsaid if the total traded value is less than Rs 3600/-, then the
minimum brokerage per scrip is Rs 18/-.

Transaction Charges are :-
Turnover Tax 0.005%
Stamp Duty 0.010%
Service Tax on Brokerage 8%

The rate of STT will vary as per the security being dealt in and the type of market participant dealing in it, i.e. traders, investors etc. These rates applicable would be as under:

NATURE OF TRANSACTION RATE OF STT

Delivery based transaction in equity
Buyer and seller each to pay 0.075%

Non-delivery based transaction in equity
Seller to pay 0.015%

Derivatives (F&O)
Seller to pay 0.01%

2. Online bank Transfers and withdrawals are supported. The Banks allowed for this are HDFC,Citibank,Uti Bank,IDBI BAnk. You must have an account in one of these banks.

3. You can transfer funds online from your account to Sharekhan account even at 9.30 am. It takes just 5 min.

4. Withdrawal takes 24 hrs,i.e if you place your cash withdrawal request today morning,you will receive the credit into your bank account tomorrow morning. The transfer is effected after trading hours in the evening. So the delay.

5. You have the facility to place orders before market opens till 9.45 am. During weekends this facility is on all through.

6. The online screen showing the live markets begins at the strike of 9.55am.

7. They have 3 diff accounts. Classic with Fast trade facility for normal users including beginners. This has no volume restrictions but you will not have access to the intraday charts.

Speedtrade and Speedtrade provide intraday charts,and have volume requirements,i.e you must transact a certain amount of volume every month.

8. General service,feedback,customer care is very good.

Guess I have answered all your questions.

Best Wishes
Shri.
 
#4
thanks a ton... u have been reallly helpful.. just one question tho... what is the turnover requirement for their speed trade account?
also, can anyone using 5paisa.com and indiabulls also share their experiences?
thanks a lot
abhinav
 
#5
abhinav said:
thanks a ton... u have been reallly helpful.. just one question tho... what is the turnover requirement for their speed trade account?
also, can anyone using 5paisa.com and indiabulls also share their experiences?
thanks a lot
abhinav
Speedtrade requires Rs.20 to Rs.25 lacs turnover per month. Speedtrade plus requires Rs.50 lacs per month.

Shri.
 
#6
thanks a lot...
can someone else who is using indiabulls also post a reply to my query please? it will be really appreciated.. thanks
 
#7
Hi all,

i don't know all the brokers services at all. But i have a request to all of you that
DON'T DEAL WITH KOTAKSTREET.COM. it is arrogant organisation, unprofessional services they provide and moreover they treat their customers as zany.

is there any one to share with me in this forum about kotakstreet.com services?

regards
ganesh
 
#9
I admit views about kotakstreet. They don't care of even HNI client.
U can imagin what service they give for small investors. The site also had problems always. But there brokarage is competative. Anyone dealing in derivatives can take advantage of flat trading fee of Rs.999 + 0.03% square UP/F&O brokarage. Some usefull research is available. One can deal wit KS very cautiously.

Prashant
 
#10
guys....Sharekhan is good....speedtrade terminal is quite good....
the brokerage is based on how much u trade + how much u r able to negotiate.....
i did not pay a/c opening chs
brok is 0.03% or min 4 paise per trade per share for interday
brok is 0.22% or min 15 paise per trade per share for delivery based

my tip is always try and trade a stock something in the range of Rs 75 to 125....so u get to buy/sell some good reasonable value good co stocks + ur brok is the best min for these val stocks....+ the chance of these stocks moving up by 2 to 3 rs on a dasy is very high.....
so if u buy and sell 1000 stocks of say Blrampur Chini at Rs 88(buy) and Rs 90(sell) u get to make Rs 1.85 per stock.....
the cal is as follows.....
buy 1000 @ 88 + 0.05(brokerage) + 0.02(govt taxes) = 88,070
sell 1000 @ 90 - 0.05(brokerage) - 0.03(govt taxes) = 89,920
proft booked = 89,920 - 88070 = 1850

also the speedtrade give u the profts u can book if u sell ur stocks now....i.e. real time profit / loss...just click the refresh button.....
u'll get to know all these once u strat using them.....
all the best
 

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