Hi Cool,
Perhaps u missed one more observation. If u place an order for a certain qty. to buy or sell, and if such order gets executed in part, say in 2 or more executions, then also u hv to pay demat charges each time. To be more precise, if u place sell order for 100 shares of ABC, and the order gets executed in four instalments of 25 each, u land up in paying demat charges 4 times @ Rs.15/- (Earlier, I think it was Rs.20). I had this hidden charges experience with 5 Paise, and when I enquired with them, they had no answer. Therefore, I closed my account with immediate effect. Because, ultimately clients are loosers from all fronts.
Incidentally, IB charges only Rs.8/- and it is scripwise. They too hv. excellent software. Unfortunately their (1) customer service is not satisfactory (2) Accounting system is one way favouring IB and not client (3) Impossible to reconcile ledger on day to day basis (4) u hv to rely courier for contract notes which is being delivered to u once in a blue moon (5) c.notes on website does not hv head or tail; is just a mass of figures. But for these short comings, this would hv been India's number 1 Brokerage House.