Hi everyONe,
For the past 3 months, I had been using ICICIdirect, I took it up hoping that it would be one of the best, since it gives a three in one account. But the service that they are offering is the worst of the lot and is a definite NO for the following reasons.
1). High Brokerage.
2). Bad Service, Since i had the experience where my stocks went missing from both the security projections list as well as the Demat Allocation list. And this happened very recently and i am yet to get a reply from them.
3). You cannot sell your receivable shares within the settlement period in any of the BSE scrips.
4). As for NSE you can sell your receivable shares from a list of 133 stocks only. Which is absolutely of no use. Because any active trader will definitely be stuck up with his positions till the stock gets allocated into his account.
5). IF you have any problems and want some answers during the trading time. You will never be able to get to them, they never answer your calls. You really will find yourself helpless because you don't have a personal rappo with someone whom you can talk to regarding your problems. The Guys at the Call centers give a damn to your problems. So neither can you catch them on the phone nor do they reply your mails. You will feel yourself stunned because you sometimes have a wierd feeling if they ever care.
6). And one the Dumbest products that they have is the Margin Plus. and if anyone does an intraday on that. you are definite to loose your money. Since those 133 stocks are static stocks which hardly have any volatility or movement in them. So you finally end up loosing your money for the brokerage. And one of the guys at ICICI said that it was thier KILLER product and i told him it indeed was a KILLLLLLLLER product. So beware if you don't want to get killed.
So from my experience i feel that the best thing is to go in for a specialist rather than generalists in this field. and Now i am on the look out for other options and am considering the Investsmart terminal. But from what i see they too have a long way to go in some ways.But at least they are growing fast and that is what that matters the most.
and my experience tells me to go to someone, who will give you a good service for the money that you are paying them. You see to it you have a personal rappo with some one at the office. otherwise you will feel leftout and helpless and endup loosing your hard earned money.
Best Regards,
Vulraj