Who makes stupid statements that Geojit is the best? Read this.

[marcus]

Not really sure, they used to be called sify-refco1 but when refco USA got into severe financial trouble I believe they parted ways and are now called man financials, not sure who they aretied up with at the current time.

 

[Agilent]

Not really sure, they used to be called sify-refco1 but when refco USA got into severe financial trouble I believe they parted ways and are now called man financials, not sure who they aretied up with at the current time.

Thx Marcus ...

What I find most vital in choosing any brokerage is smooth funds in and out from yr designated acct . As long as seamless integration exists (like in ICICI Dir) the firm can be shortlisted

Does Man have this facility (they use HDFC Bank ..and some others?)

While on this , how come ICICI Direct does not feature in this wonderful thread ?

AGILENT

 

[boppanavijay]

Who says Geojit is the best and why? I went with someone (say A, name not disclosed) to open an account. I convinced A after reading the thread here. And now A abuses me everyday. Read on. First, they were very slow. You have to get a Doctor?!## (ya thats true) or CA or gazetted officer to introduce you. Like PSU banks!!! Still we ran around and managed. They said it will be opened in 4 days. Its 18 days now and we are still waiting. When A called them, they said your number is ****. You can call and trade. What about internet? It will come soon. "You can see it comes from Finance towers, Kochi" or some stupid place. Incidentally my books come from the US in a week. I heard some people call up and shout about cheques and debit problems and they were saying please wait, it will be done in 3-4 more days.
On top of that their platform is stupid. If you want real time quotes commit a brokerage of 3000 per month. Check my thread below for the rest

Dear Friends,
How can someone claim that this is the best or that is the best. Reading the threads, i realized that there are many members who depend on the valued opinions of others to arrive at a decision, the most common one being which brokerage to choose. Hence it is absolutely unacceptable to proclaim that Geojit is the best. Talking about problems is fine, but promoting one brokerage is not fine. Because there are no benchmarks and metrics to compare them. Take the case of Geojit. Is it plain naivity or a case of sheer innumeracy? How can Geojit be the best and at the same time not give real time data. For near real time data you have to commit Rs. 500 per month and for proper real-time data with fast trade execution you have to commit Rs. 3000 per month. For total trade value of Rs 30 lakhs, the brokerage comes to Rs 3000 at the rate of .1 per cent, which is very high for the kind of trading you are doing (unless all of it is delivery based, which requires Rs. 10 lakhs of trading per month), irrespective of market conditions. Indiabulls gives the same facility for a one time software fee of Rs 750 only. But Indiabulls has other issues. So it brings us back to the same points. Unless there are proper benchmarks and standards to measure the effectiveness of brokers, say on speed of execution, customer support, user friendliness, quality of RMs etc, we can only voice our experiences and not claim that one is the best. A debate is welcome.

So please dont carry self-proclaimatory thread like this here.

I appreciate your anger but the problem is SEBI is always on the look out to find mistakes in brokerage houses and brokers are becoming stiff day by day.I opened my a/c with Geojit almost20 months ago with no hassle and I have no complaint and I am a satisfied man

 

[marcus]

Thx Marcus ...

What I find most vital in choosing any brokerage is smooth funds in and out from yr designated acct . As long as seamless integration exists (like in ICICI Dir) the firm can be shortlisted

Does Man have this facility (they use HDFC Bank ..and some others?)

While on this , how come ICICI Direct does not feature in this wonderful thread ?

AGILENT

Well Amit really dont know much about Man's fund transfer procedure, I just know they provide tradeanywhere.

ICICI just not worth it for traders, high brokerage, no dedicated terminal (unless of course you have directlink) and regarding fund transfer most brokers have introduced online fund transfer and its done on the same day, not instantly of course but in a few hours varying from broker to broker.

 

[swagat86]

Well Amit really dont know much about Man's fund transfer procedure, I just know they provide tradeanywhere.

ICICI just not worth it for traders, high brokerage, no dedicated terminal (unless of course you have directlink) and regarding fund transfer most brokers have introduced online fund transfer and its done on the same day, not instantly of course but in a few hours varying from broker to broker.

Marcus is it Possible with Angel? if yes How come?

 

[sivavkm]

GEOJIT IS THE WORST

I am a geojit customer.
This is my experience with them.

I should say, i had bitter experience with their customer service... but i was in favour of their trading system. Today, that belief also proved to wrong.

Today i noticed that, one of the share that i was holding, just disappeared from my "Positions" window... alongwith Rs25,000. It was there yesterday. Just vanished today.. without any traces in trade books

Smelling something?? (similar to RM account play in IB???)

Anyway, i informed them thru official channel. Waiting for their reply.

Regards
Siva

 

[rvlv]

Thanks for facts
Really eye opening

I was thinking of them. now no need to think.
time saved.
rvlv

 

[bangerabs]

Regarding Geogit, I had to close the account in a month's time; simply becasue of poor website and minimum brokerage commitment per trade which they were cunningly avoided to inform me when opening the account. Regarding, Kotak; I am affraid to go even nearer since I have had bitter experience with their Housing Finance. In a private, I have never across anywhere poorest customer service as that of Kotak Housing Finance. None of the employees have even coutesy to give respect to the customer or respond to queries. Everyone one, including gate-keeper is a boss there. So what can we expect from Kotak Securities?

 

[David Perera]

HI

I am sure the person who is saying that for opening a trading account he has been requested by the broker to get the form attested by gazetted officer is so....is not knowing any thing... Put comments which others also can digest

 

[nesamani]

HI

I am sure the person who is saying that for opening a trading account he has been requested by the broker to get the form attested by gazetted officer is so....is not knowing any thing... Put comments which others also can digest

Hi All,

I am also Geojit customer only. Hats off to the advertisers in media to took such a wonderful advertisement. Only Fraud fellows advertise like this.
1. They are telling there is no hidden charges.
If you execute one trade itself cost 20 rupees as brokerage charge.
What is the meaning of this? i have called so many times, but they are telling like this has been already mentioned in agreement. everybody knows the font size of the such agreement and more over our ignorance.

2. Poor customer care
If you call your branch manager, he will ask you to contact the customer care. if you try, always busy. moreover they will speak like machines. No care only diagnosis.

3. The updation of our account details on customer care site

you wont get what is the todays traded volume and brokerage charges.
some days will take to see in your site.

4. Disconnecting

you will get net disconnection frequently. and also you can realize the quoted prices are not real time prices.

5. options brokerage.

The branch manager told me that they have reduced the options brakerages.
but i am still paying 120 rs (including buy sell and STT). it is not at all manageable for small traders like me.

Please suggest me to change over other best broker for options trading.
Because i have switched to one more broker called "Steel city securities"
I lost almost 1.2 lacks of money as they have solely traded in my account.
I am hating my self being a design engineer i......i cant tell any more.


Thanks,
Nesa