ICICIDIRECT (icicidirect.com) This is the part of Indias largest private bank ICICI bank.
Benefit of trading account with ICICIDIRECT
This account allows Cash Trading, Margin Trading, Spot Trading, MarginPLUS Trading Buy Today Sell Tomorrow and Call and Trade on phone in both NSE and BSE.
Investment in Mutual Funds and bonds online through your trading account with ICICIDIRECT.
You can make order at any time (Beyond market hour)
Money will not be debited directly from your saving account on trading.
Disadvantage-
Effective Brokerage per leg for squared off trades = 0.375% ( Less than Rs. 10,00,000/- (Rs. 10 lacs)
The brokerage involved is very high ( 0.75% ) ( Motilal Oswal brokerage is very less just .2% for delivery). You can not do day trading as a result. Also, the options are less flexible. If you go for intra day trading and the stock price falls, you cant take the delivery and have to sell at lower price. If you go for buy today sell tomorrow feature, you cant sell the same day. and the high brokerages eat away your profit.
Also whenever there is huge volatility in the market, the site stops working most of the time.
I would suggest not to go for ICICIDirect as these people charges hell lot of brokerage as compared to other brokers. Moreover, sometimes in intraday trades they square off your positions before 3:00 pm and sometimes they accidentally keep it open and settle it on next day. I think you can think of Kotak securities.
If you are going to invest for long term then choose ICICIDirect as its safe and secure except for high brokerage and if you are going to day trade then forget about ICICI.
ShareKhan (sharekhan.com)
Generally sharekhan charges 3 paise on intraday excluding taxes and after including taxes it comes out 5 paise. On delivery 30 paise excluding taxes and 48 paise including taxes.
ShareKhan provide online trading password through classic account, fast trade and speed trade. Out of these Classic and Fast Trade is free and they provide user id and password for these without any extra cost. Have you got it. And for Speed Trade they charge extra in the form of brokerage.
Sharkhan peple offering a brokerage model of 0.25 n 0.025% (yes, it is variable ) with an account opening charges of rs. 49/- only with an amc of 300/, operate by both online and phone.
sharekhan interface is quite complicated
sharekhan is good except customer care.
IndiaInfoline
Best for very small investors, terminal is too fast, as well as they offer 6th time exposure of your holding, no need to cash balance in your account.
There is no customer care number of indiainfoline where a person can call and tell his problem. The customer care number on the website is useless. When you call at that number, it says you are in queue number X you keep on holding to that call and after five minutes of repeating the message it says you are in queue number X-1″ !!!
Trading software is very easy to operate
toll free no- 66489000
one people said- Im satisfied with the software and service of indiainfoline, Ive been recommending this to everyone who asks about brokerage houses to me.
Indiabulls
Good for demat and trading charges. They have shown me a tariff of rs.1650 (one-time fee) for online trading account and demat charges and no AMCs.
deilvery-50 p and Intra-5p.
I heard some rumors that indiabulls doesnt allow buying IPOs
they provides ODIN software that is very good for online trading
both offline and online perspectives it can serve you quite well.
still another choice can be kotak
[All the above information may not be correct as it was taken from source like forums]. If any one want to correct it or want to add something please comment here.