Why traders in India are ready to pay such high brokerage ?

[shrelle]

I never understood why people here in India are ready to pay brokerages in terms of % on there transaction amount . Common on wake up Guys.
When brokerage firms in USA & other countries are charging
brokerage on per trade basis . Why we people here in India are ready to pay on % basis , that is something we our selves are not questioning. when we have room to make our ourself rich by acting wise in taking right step in changing our brokerage system .
Well all i would like to know from any senior is whether we have rights to place PETITION against this brokerage system .
I urge all you members to support this thread & post your comments.

 

[loosingstreak]

Very True , and why don't brokers offer spread trades.

I am with you , so how do we go about it. Any suggestions anyone.

 

[ranj_2k]

Yes I agree with you we are paying very high brokerage in India. Let us take my case I have paid ICICIdirect more than I have earned in one Year. I have stopped using icicidirect portal and taken the Reliance Money. Cost wise it is very cheaper but lacking in features required for a trader. My best wishes to this thread for positive outcome.

 

[shrelle]

losingstreak & ranj

Well if we got to make it happen , then first we have to make this thread grow & i am looking for some senior member to comment on this & help us to go in the right way so that we can spread among traders that we traders are taken for granted by brokerage firms & ripping off our portfolios.
Just imagine guys if u go on to pay the brokerage at current %
u just have to tell your kids that even u were a trader once .
Traders in america & other countries do just Scalp trading & make huge sums within intraday . have u ever done scalp trading , means buying at bid level & selling at ask levels within 1-2 min at last u end up the day with + ve , but nxt day morning you see your contract note , you are again cursing your broker.
Please be serious about this & I wish some one could start a community on ORKUT regarding this .

 

[johnbest]

dear friends

In Hindi, there is a proverb......"EKALE CHANA BHAAD NAHIN ZOK SAKTA.......
Here in India, we lack unity......and to fight against the system.....unity is the most
important ingredient.....

So lets unite and fight against the system.....

have a nice day
JB

 

[alpha1]

^ In this case our unified action means everyone (that means REALL?Y everyone) boycotts these stock brokers.

Which means - ppl who use trading for their living, they will haveto sacrifice something.

Ofcourse, if such a move is succesful, they only stand to gain maximum.


But then, in India we are raised to never have a foresight.

 

[shrelle]

Yes ofcourse Unity & participation together is what we need at the moment. But how can we bring people together & make them act as one .

Here in India Associations are formed street wise & gully wise , why can't we start a association of our own, with a website . I am sure we will get great response & support from fellow traders .

 

[swagat86]

u dont u guys try out somethin. 10-15 ppl get together and open up a brokerage house. Then charge at rates u said.

We all r goin to subscribe to ur services to support u.

To make u the best brk house in India.


say what?

 

[jayamsuccess]

Yes sir I also pay more brokerage. Now I switched to Reliance money

 

[basudeo]

Dear friends,

It is only possible in our country that,

(1)We pay the highest brokerage still we are getting the poorest services.

(2)You cannot see the full detail of your a/c with brokers charges any time. Brokers give peculiar numerical codes making it almost impossible for you to reconcile your a/c.

(3)All your order placing is tracked by the staff of the broker and if you slip little such as placing the market order, they will rob you.

(4)cos like reliance money and icici direct are progressing day by day with growing reputation.

(5)So many hidden charges without any clear guide line from the finance ministry, exchanges and broker house.

(6)Tendency to not to give any thing away to the client.

REMEDY MEASURES

(1)Make this forum strong and attack collectively. Such as writing in news paper columns, contacting the live tv shows, writing regularly to govt.,exchanges and sebi, file cases in consumer forums.

basudeo