Why Sharekhan brokerage can kill you!!

k28

New Member
#1
Just wanted to share one exp with SHarekahan which can kill any small time investor.

The sharekhan charges a min 10 paisa brokerage PER SHARE so if u are trading for small stocks like say 10 rupees or 1 rupees you end up paying 10% of brokergage on delivery one side. Plus other things like Service tax etc. So if scrip is 0.35 and u take 10000 shares then on total transaction value of 3500 u will pay some 1200 Rs. as brokerage!!!! I call thr customer service and ask if there is any way out if anyone can ever make money on small stocks by paying such stupidly high n nonsense brokergae.

I looked around and found many brokerage fim charge brokerage per transcation amt and not PER SHARE, while some other have a cap on MAXIMUM TOTAL brokerage like 2.5% max which makes sense.

Sharekhan is really bad and i will warn anyone of this and many other hidden changes in sharekhan AMC schemes. ICICIdirect is costly but at least they dont have hidden agendas & charges (No I am not saying its better , just that I didnt came across any hidden charges there, they are upfront of what they charge). I guess few others like HDFC , Axis Bank Geojit are also honest in their charges. Sharekhan sucks!!!!:mad:
 
#4
Just wanted to share one exp with SHarekahan which can kill any small time investor.

The sharekhan charges a min 10 paisa brokerage PER SHARE so if u are trading for small stocks like say 10 rupees or 1 rupees you end up paying 10% of brokergage on delivery one side. Plus other things like Service tax etc. So if scrip is 0.35 and u take 10000 shares then on total transaction value of 3500 u will pay some 1200 Rs. as brokerage!!!! I call thr customer service and ask if there is any way out if anyone can ever make money on small stocks by paying such stupidly high n nonsense brokergae.

I looked around and found many brokerage fim charge brokerage per transcation amt and not PER SHARE, while some other have a cap on MAXIMUM TOTAL brokerage like 2.5% max which makes sense.

Sharekhan is really bad and i will warn anyone of this and many other hidden changes in sharekhan AMC schemes. ICICIdirect is costly but at least they dont have hidden agendas & charges (No I am not saying its better , just that I didnt came across any hidden charges there, they are upfront of what they charge). I guess few others like HDFC , Axis Bank Geojit are also honest in their charges. Sharekhan sucks!!!!:mad:
I'm also looking to trade in penny stocks. But when i does it first time ,i stunned up with heir huge brokerage.
As you said that you've searcherd brokers with less minimum brokerage,so plse which broker you found is best to trade in penny stocks (less than Re.1)
 

bangerabs

Active Member
#5
Hi Good Friends,

I am with SSKI since begining of 2001. I find that their brokerage is certainly high. S/W also gives problems very frequently. As brokerage has been high, I have tried various other brokers; but till now I could not find any alternative. Reason (1) Sharekhan's service is good (2) Fatures of Trade Tiger or their website is also good (3) Most transparant in their dealings; no hidden charges. But now I am with their AMC. Therefore, brokerage seems to be ok. Others promise a lot but fail in service or fulfilling the promise. Recently, I had tried a broker with as low as .01 intra, 0.10 delivery, 0.01 for commodity; where I had made 101 requests to correct my name. But no one bothered. Not only name but even address was wrong. Who cares. One gets service, till application is filled. And as some one said above, Sharekhan may be after HNI. If they reduce the brokerage to compete with other brokers, then I can not explain the fate of other brokers. As the brokerage for commodities is charged @ .04, I recently opened a/c with India Bulls where I was promised .01 brokerage. But on my first trade itself, I found that I was charged .05 for oneside and .05 for otherside (i.e. .10 for intra)?. See how I was fooled. Therefore, I have decided to close the account with them. I had done only 2 transactions with them. And for FNO, they charged 100, one side for l lot i.e. 200 for one transaction.. Zerodha charges just Rs.20 + 40. What a difference?. Why should not save Rs.160/- or more just in one transaction?. )Zerodha just charges only 20+20 for any number of lots. Is it not somethig very very great?

I had made several requests to Sharekhan to reduce the brokerage but in vain. But for equity, AMC scheme seems to be good. For Commodity, I think, Zerodha is likely to start and one may go with them, since their service and s/w NOW is good.

In general, every one would like to save little, make little. Naturally, one keep on trying for better. But one can not ignore good customer servie, good software for trading platform, transparency and reliance.
 
Last edited:
#6
Hi Good Friends,

I am with SSKI since begining of 2001. I find that their brokerage is certainly high. S/W also gives problems very frequently. As brokerage has been high, I have tried various other brokers; but till now I could not find any alternative. Reason (1) Sharekhan's service is good (2) Fatures of Trade Tiger or their website is also good (3) Most transparant in their dealings; no hidden charges. But now I am with their AMC. Therefore, brokerage seems to be ok. Others promise a lot but fail in service or fulfilling the promise. Recently, I had tried a broker with as low as .01 intra, 0.10 delivery, 0.01 for commodity; where I had made 101 requests to correct my name. But no one bothered. Not only name but even address was wrong. Who cares. One gets service, till application is filled. And as some one said above, Sharekhan may be after HNI. If they reduce the brokerage to compete with other brokers, then I can not explain the fate of other brokers. As the brokerage for commodities is charged @ .04, I recently opened a/c with India Bulls where I was promised .01 brokerage. But on my first trade itself, I found that I was charged .05 for oneside and .05 for otherside (i.e. .10 for intra)?. See how I was fooled. Therefore, I have decided to close the account with them. I had done only 2 transactions with them. And for FNO, they charged 100, one side for l lot i.e. 200 for one transaction.. Zerodha charges just Rs.20 + 40. What a difference?. Why should not save Rs.160/- or more just in one transaction?. )Zerodha just charges only 20+20 for any number of lots. Is it not somethig very very great?

I had made several requests to Sharekhan to reduce the brokerage but in vain. But for equity, AMC scheme seems to be good. For Commodity, I think, Zerodha is likely to start and one may go with them, since their service and s/w NOW is good.

In general, every one would like to save little, make little. Naturally, one keep on trying for better. But one can not ignore good customer servie, good software for trading platform, transparency and reliance.


Your whole article was ok but the last word made me confused i.e. reliance.Here reliance means ambani uncle vaala reliance ya loyyalty (vishwaas)vaala reliance??
 
#8
how the fukc does one see their profit and losses historically? pardon my language but I am blasted in my head right now.

I asked their customer center that question and they told me about "My Portfolio" link. which only shows your profit/loss in your current holding.

seriously guys if there any way you guys know? I have some stocks in holding in that account so have not closed that account yet. also sharekhan borkerage had killed me.
 

moon_moon

Active Member
#9
yah i agree on the point that ,,, if you are once done with your account opening and brokerage first time ,, it is very tough to renegotiate your brokerage. so new people, who are thinking about opening account,,, put you head into it
 

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