Which are best and trusted discount brokers?

#1
Hello,
I would like to know which are great discount brokers whom we can trust with our money.

I mostly used HDFCSL as my broker, they have very expensive brokerage plan. In options they charge 1% of contract value for buying and selling, whereas I've heard discount brokers like Zerodha just charges flat Rs.20 per Option transactions.

I have no idea about these discount brokers. Can we trust them? How is their services? These brokers usually don't have offices on ground, that's why they are cheap, but I wonder how well they serve?

I mostly trade on my own. I need a PC platform & mobile platform. But do these brokers provide Phone based trading as well?

If you using any of these discount brokers, how would you rate them? Whom will you recommend?

Thnx

 

pannet1

Well-Known Member
#2
Hi Vikas,

My reply >>> below in UPPER case

Hello,
I would like to know which are great discount brokers whom we can trust with our money.

I mostly used HDFCSL as my broker, they have very expensive brokerage plan. In options they charge 1% of contract value for buying and selling, whereas I've heard discount brokers like Zerodha just charges flat Rs.20 per Option transactions.
THATS CORRECT. BROKERAGE + TAX

I have no idea about these discount brokers. Can we trust them?
TRUST. THIS IS WHERE BROKERS LIKE ICICI USE OUR FEAR. YOUR DEMAT ACCOUNT IS SAFE BECAUSE THE EXCHANGE IS INVOLVED. OF COURSE THERE IS RISK OF BROKER CLOSING THE OFFICE AND YOUR FUND BECOMES KINGFISHER.
How is their services? These brokers usually don't have offices on ground, that's why they are cheap, but I wonder how well they serve?
THEIR SERVICE IS GOOD FOR THE COST YOU ARE PAYING. SOMETIMES WHEN MARKET IS HEATED UP, THERE MAY BE SOME GLITCHES. THEY HAVE HUGE VOLUME. IN THE LEAGUE OF DISCOUNT BROKERS ZERODHA IS THE LEADER AND POINEER.

I mostly trade on my own. I need a PC platform & mobile platform. But do these brokers provide Phone based trading as well?
YES. ZERODHA PROVIDE NEST TRADER, KITE MOBILE AND PI DESKTOP. IT IS QUITE NICE TO USE.

If you using any of these discount brokers, how would you rate them? Whom will you recommend?
CHECK OUT bpr's AWESOME THREAD OF BROKER COMPARISION.
Thnx

 

MDK

New Member
#3
Hi Vikas,

My reply >>> below in UPPER case
I completely agree with Pannet1 - at times during closing hours or when markets are heated they start to have glitches - but otherwise if you have your own strategies or trading ideas it will be better you use the discount broker route as they are as good to the traditional brokers in terms of execution and the sofistication of platform provided. Most of the times the service tax charged by traditional brokers will be more than the total brokerage and service tax charged by the discount brokers.

I have been using Tradejini for the past 3 years you can look at them may be!! :):)
 
#4
Hello,
I would like to know which are great discount brokers whom we can trust with our money.

I mostly used HDFCSL as my broker, they have very expensive brokerage plan. In options they charge 1% of contract value for buying and selling, whereas I've heard discount brokers like Zerodha just charges flat Rs.20 per Option transactions.

I have no idea about these discount brokers. Can we trust them? How is their services? These brokers usually don't have offices on ground, that's why they are cheap, but I wonder how well they serve?

I mostly trade on my own. I need a PC platform & mobile platform. But do these brokers provide Phone based trading as well?

If you using any of these discount brokers, how would you rate them? Whom will you recommend?

Thnx


Go with RKSV/Upstox and you won't regret....
 

pannet1

Well-Known Member
#5
Go with RKSV/Upstox and you won't regret....
Hi BearsTruth,

I wanted to ask ...

1) are they having any contests (like 60 day challenge of Z)
2) Is there provision to show running delta for the open options position (only Trade Tiger has it, I think)
3) are they having a Tax P & L, so we need not break our head (Z has it)
 
#6
Hi BearsTruth,

I wanted to ask ...

1) are they having any contests (like 60 day challenge of Z)
2) Is there provision to show running delta for the open options position (only Trade Tiger has it, I think)
3) are they having a Tax P & L, so we need not break our head (Z has it)
1.) No, they don't have any such contest. It's not an essential feature IMO. I don't haggle over few bucks, I would take reliability and predictability of the company over it. Do you know they stop leverage, cover order, bracket order on an event day like budget, brexit etc.?

3.) They are working on it and soon gonna have it.
 

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