Confused - Sharekhan vs Icicidirect vs Hdfc vs Kotak vs Indiabulls vs 5paise

[aces27]

Hi ,
Nice Discussion Regarding the Brokerage accounts.

I have a new salary account with HDFC.
I need to get started with trading.

1.Not a heavy trader , would put in 15 - 20 K per month , monitor , once daily. Only Internet for everything.
2.HDFC Securities seems simple straight forward (demo), would not be a hassle to approach them to get started.

QUESTION :
Is is actually sensible to stick to the same bank for your trading account , or there are no great advantages just minor ones.
QUESTION :
Major Shortcoming is that HDFC doesnt offer short selling. This I understand could be a problem as it would not be possible to earn in conditions where markets fall. Why so? Everyone else seems to offer.
This is the only reason I am considering other accounts.


I can have a Demat in HDFC and trading with someone else right?


Please advise whether it is a hassle to open a trading account with third party , in comparison to actual tangible convenience against opening with the same bank.
Also your take why HDFC doesnt offer short selling and is it something worth missing.

Thanks

Hope your inputs contribute to help all.

 

[balab]

I'm getting into trading and am at the first step - getting a good broker. I received a mail from IDBI and they seem really cheap.
The highest end plan, 'select' with 25000 upfront brokerage, intraday is 0.0045%, delivery is 0.045% and FnO is 50 per lot/0.50% of premium whichever is higher. Normal government taxes apply. They have an exe software platform.
Anyone here with experience in IDBI? How good are they? Any alternatives to these? I want very cheap brokerage and a reliable broker who will stick around and not vanish. RK Global seems shady somehow I am not convinced. My account will be very large.

Thanks

 

[balab]

Further to the post above, in IDBI the brokerage is daily deducted from the 25000 paid upfront as per trades done, till the entire amount is exhausted (12 months time limit).

Religare is another broker that is competitive:
On their Trump Star option, payment of 50000 upfront gets you 0.10% delivery, 0.01% intraday and 20x margin exposure in intraday on your cash. Futures are at 0.008% and options at 50Rs a lot.They also pay interest on the amount you deposit with them (don't know how much, probably near SB account rate). All details are on the site itself (works only in IE). Upfront amount seems too much compared to IDBI. Anyone have experience with Religare?
http://www.religareonline.com/to_fees.asp

 

[viren9]

Hi ,
Nice Discussion Regarding the Brokerage accounts.

I have a new salary account with HDFC.
I need to get started with trading.

1.Not a heavy trader , would put in 15 - 20 K per month , monitor , once daily. Only Internet for everything.
2.HDFC Securities seems simple straight forward (demo), would not be a hassle to approach them to get started.

QUESTION :
Is is actually sensible to stick to the same bank for your trading account , or there are no great advantages just minor ones.
QUESTION :
Major Shortcoming is that HDFC doesnt offer short selling. This I understand could be a problem as it would not be possible to earn in conditions where markets fall. Why so? Everyone else seems to offer.
This is the only reason I am considering other accounts.


I can have a Demat in HDFC and trading with someone else right?


Please advise whether it is a hassle to open a trading account with third party , in comparison to actual tangible convenience against opening with the same bank.
Also your take why HDFC doesnt offer short selling and is it something worth missing.

Thanks

Hope your inputs contribute to help all.

Ok first up why be denied any service even if you may not be using it For Ex. Short Selling in your case. I

f you're Purely a Investor where you're never going to buy for more than you have available with the broker.. then it may not be a bad idea.. But see here's the thing every now and then you may receive an excellent stock tip where timing would be sensitive.. Here's the Problem in dealing with Banks you can only buy for what u have available with them. So you need to weigh the options on tht one...

15 to 20 K a month isn't too bad you should opt for more Pro Brokers, Ex. Angel, Sharekhan, If you're looking for low brokerage rates and similar service then Anugrah, CD Equisearch,etc. Most Brokers nowadays have made it mandatory to have De mat A/C through them.. they are also usually way lower on the charges front... It really doesnt make a diff where ure Demat is..

If you ask me you rather keep it with the broker as you wont have to run to the bank after every sell transaction to give your instruction slips..


Now answering ure Q's Specifically..

No Great advantages Demat and Banking not connected in anyway.. HDFC has a tie up with almost all brokers for same day transfers online transfer of Funds.

Why Miss out on Short selling may not be recommended but why to waste an opportunity just incase..


you may have a 3rd party Demat with a broking house as per rules but most brokerages dont allow the same... for some obvious reasons.. increase inpaper work & too many Trans related probs..


Please let me know if i was of any help..

 

[viren9]

I'm getting into trading and am at the first step - getting a good broker. I received a mail from IDBI and they seem really cheap.
The highest end plan, 'select' with 25000 upfront brokerage, intraday is 0.0045%, delivery is 0.045% and FnO is 50 per lot/0.50% of premium whichever is higher. Normal government taxes apply. They have an exe software platform.
Anyone here with experience in IDBI? How good are they? Any alternatives to these? I want very cheap brokerage and a reliable broker who will stick around and not vanish. RK Global seems shady somehow I am not convinced. My account will be very large.

Thanks

IDBI Not a good bet.. You'll never get a seamless trade executed.. If you do have a large A/C you rather do business offline.. as you will be assigned a Relationship manager who would keep in constant touch with u incase of any updates , etc. you could always also take an online terminal for viewing.. Going Offline still means you will be able to have a back office ID of your Own where u could view you're positions.

RK Global is very Shady...
Recomm Brokers : AnuGrah, Cd Equisearch, Mangal Keshav,etc.

 

[aces27]

Ok first up why be denied any service even if you may not be using it For Ex. Short Selling in your case. I

f you're Purely a Investor where you're never going to buy for more than you have available with the broker.. then it may not be a bad idea.. But see here's the thing every now and then you may receive an excellent stock tip where timing would be sensitive.. Here's the Problem in dealing with Banks you can only buy for what u have available with them. So you need to weigh the options on tht one...

15 to 20 K a month isn't too bad you should opt for more Pro Brokers, Ex. Angel, Sharekhan, If you're looking for low brokerage rates and similar service then Anugrah, CD Equisearch,etc. Most Brokers nowadays have made it mandatory to have De mat A/C through them.. they are also usually way lower on the charges front... It really doesnt make a diff where ure Demat is..

If you ask me you rather keep it with the broker as you wont have to run to the bank after every sell transaction to give your instruction slips..


Now answering ure Q's Specifically..

No Great advantages Demat and Banking not connected in anyway.. HDFC has a tie up with almost all brokers for same day transfers online transfer of Funds.

Why Miss out on Short selling may not be recommended but why to waste an opportunity just incase..


you may have a 3rd party Demat with a broking house as per rules but most brokerages dont allow the same... for some obvious reasons.. increase inpaper work & too many Trans related probs..


Please let me know if i was of any help..

Thanks a lot for your inputs.
Have enquired with Share Khan , for their charges.
HDFC is providing Free lifetime Demat , HDFC Sec - First year free , 500 seond year onwards.
I dont mind slightly higher brokerages.
Just want a stable , big established company providing all necessary facilities that I may require now or in future.

the comparison should go beyond brokerage charges , even in this thread.

 

[shwetasinha]

The broker i am using is not in the list so i am more confused

 

[rahul.indiabulls]

hi

i would suggest you to go for indiabulls only. It has following benefits..
1) NO AMCs, no annual charges, no maintenence charges
2)No monthly commitments
3)Very advanced software, convinient to use.
4)Security Token Service which makes ur transactions absolutely secured.
5)Best brokerage offered.
6)No charges for documents/password reset request(like in case of HDFC n others)

 

[bangerabs]

Yes. PIB of India Bulls is best s/w. But still there is scope for upgradation. In the past, I had suggested few. But so for nothing has been accepted. Also, after mkt. hrs. orders restricted to 10 only. And goes to mkt. only after 15 mins. of mkt. opening.

 

[xtalk]

Hi ,
Nice Discussion Regarding the Brokerage accounts.

I have a new salary account with HDFC.
I need to get started with trading.

1.Not a heavy trader , would put in 15 - 20 K per month , monitor , once daily. Only Internet for everything.
2.HDFC Securities seems simple straight forward (demo), would not be a hassle to approach them to get started.

QUESTION :
Is is actually sensible to stick to the same bank for your trading account , or there are no great advantages just minor ones.
QUESTION :
Major Shortcoming is that HDFC doesnt offer short selling. This I understand could be a problem as it would not be possible to earn in conditions where markets fall. Why so? Everyone else seems to offer.
This is the only reason I am considering other accounts.


I can have a Demat in HDFC and trading with someone else right?


Please advise whether it is a hassle to open a trading account with third party , in comparison to actual tangible convenience against opening with the same bank.
Also your take why HDFC doesnt offer short selling and is it something worth missing.

Thanks

Hope your inputs contribute to help all.

HDFC Sec does allow short selling via F&O. I was short on many scripts thru 2008. If you are classic customer then AMC is Rs. 250/yr from 2nd yr. Brokerage is affordable if you are medium term positional trader or investor. Bottleneck: web only platform, so site often don't work during peak hours. But this is applicable all brokers that have browser based trading app.