Confused - Sharekhan vs Icicidirect vs Hdfc vs Kotak vs Indiabulls vs 5paise
- Thread starter sunandoghosh
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Share trading is dangerous if you are novice and beginner and you have to work in office daily and you don't have any mentor or guide. The problem with sharekhan is that they just provide u a demat account and few terminals and software. they don't have any good document at least on different aspects of trading explaining the dos and don't and the risk involved, how to post different types of order and nor do they guide you properly. Their customer care persons dont know even how to give stop loss or how to put short sell order ( i m of bangalore and local office incident which i faced m telling):lol: . Most of them are girls with no trading experience... and if you mail to their main office you should not expect immediate replies. It should not be that you are waiting urgently for their reply and u have to take some decisions urgently ... they will only reply u back after a day after trading hours. Also their main customer care number is always busy. I held the line for 5 min waiting for an executive to talk during which they asked me hold the line and that " you call is imp to us plz wait
" , finally i had to disconnect. I don't about other broking agencies ... may be situation would be there also same ... these are large companies with lakhs of customer. they can't provide u good service. I feel unless u have good mentor like rakesh junjuhwala or r.k damani or atleast someone reasonably good at these things with whom u can share ur decisions so that u don't take any fatal steps , trading in market is dangerous .... otherwise u can opt for learning in the market but u may have to pay a price ... which can be heavy if u take a bad decision. for small investors this might not be the choice. So if you are new and really willing to go for trading, give the foremost importance to education and never think that you already know all the things.
" , finally i had to disconnect. I don't about other broking agencies ... may be situation would be there also same ... these are large companies with lakhs of customer. they can't provide u good service. I feel unless u have good mentor like rakesh junjuhwala or r.k damani or atleast someone reasonably good at these things with whom u can share ur decisions so that u don't take any fatal steps , trading in market is dangerous .... otherwise u can opt for learning in the market but u may have to pay a price ... which can be heavy if u take a bad decision. for small investors this might not be the choice. So if you are new and really willing to go for trading, give the foremost importance to education and never think that you already know all the things.I have Sharekhan online trading account, they are charging 0.1% intraday and 0.5% on delivery. How can I change to 0.25% brokerage scheme? What do u mean by prepaid scheme? How is the deposit paid, do i have to pay something every month, what they do of the deposit? Is that deposit amount available as margin while trading?
Please tell me, I need lower brokerage.
Please tell me, I need lower brokerage.
http://www.religareonline.com/to_platform.asp
If by web based u mean browser based, then it is called RACE Lite.
RACE PRo is just like Religare's RALLY (ODIN) - an exe file directly linked with the feed server.
The main difference is that RACE PRo has intraday/eod charting facility, while RALLY ODIN does not.
I am using RACE Pro.
I am not sure, but I have read somewhere that ODIN platform has been upgraded to include charting now. Please confirm yourself.
If by web based u mean browser based, then it is called RACE Lite.
RACE PRo is just like Religare's RALLY (ODIN) - an exe file directly linked with the feed server.
The main difference is that RACE PRo has intraday/eod charting facility, while RALLY ODIN does not.
I am using RACE Pro.
I am not sure, but I have read somewhere that ODIN platform has been upgraded to include charting now. Please confirm yourself.
Read the T&C properly in the link attached...
1.
Prepaid scheme is like a mobile company's prepaid voucher - u pay an amount for the desired talktime (read, brokerage rate) in advance.
2.
The advance amount is deducted from your margin account with the broker.
3.
Most brokers adjust the advance paid against the brokerage generated.
For example, if you opt for Sharekhan's "AMC 6000" scheme, then firstly Rs 6000/- will be deducted from your margin account with them.
After that, for period of 12 months, the indicated % of brokerage (0.05% for one leg, if closed intraday, etc) will be applicable.
If, during these 12 months, you generate a brokerage equal to the amount of advance paid, ie if you generate a brokerage of Rs 6000/- through various trades within 12 months, then Rs 6000/- is refunded back to you.
Irrespective of the duration of this refund back, the % of brokerage selected will be applicable for full 12months.
If you become eligible for refund of brokerage within (say) 2 months, you will get Rs 6000/- back at end of 6 months, but you need not pay Rs 6000/- again until the completion of 12 months from the start of the plan/original date of amount debited from your margin account.
Some brokers dont even wait for full amount becoming refundable.
They calculate the brokerage you generated every month, and refund back to you such amount, but obviouslylilited to the cumulative total of Rs 6000/-.
For example, if you opt for AMC 6000 of SK on 1-Jan-09, and if you generate a brokerage of Rs 2000 during Jan 09, Rs 3000/- during Feb-09 and 4000/- during Mar-09, then the amount refunded will be as under:
At end of Jan-09 = Rs 2000/-
At end of Feb-09 = Rs 3000/-
At end of Mar-09 = Rs 1000/-
Total amount refunded is limited to advance paid= Rs 6000/-
The selected % of brokerage is applicable till 31-Dec-09.
4.
None of our business what they do with the deposit money..
It's just an assurance to them that you will generate a specific turnover for them, and in return, you get lower % of brokerage.
That deposit amount is NOT available as margin for trading, until it is refunded back to you (month by month, or whatever)
1.
Prepaid scheme is like a mobile company's prepaid voucher - u pay an amount for the desired talktime (read, brokerage rate) in advance.
2.
The advance amount is deducted from your margin account with the broker.
3.
Most brokers adjust the advance paid against the brokerage generated.
For example, if you opt for Sharekhan's "AMC 6000" scheme, then firstly Rs 6000/- will be deducted from your margin account with them.
After that, for period of 12 months, the indicated % of brokerage (0.05% for one leg, if closed intraday, etc) will be applicable.
If, during these 12 months, you generate a brokerage equal to the amount of advance paid, ie if you generate a brokerage of Rs 6000/- through various trades within 12 months, then Rs 6000/- is refunded back to you.
Irrespective of the duration of this refund back, the % of brokerage selected will be applicable for full 12months.
If you become eligible for refund of brokerage within (say) 2 months, you will get Rs 6000/- back at end of 6 months, but you need not pay Rs 6000/- again until the completion of 12 months from the start of the plan/original date of amount debited from your margin account.
Some brokers dont even wait for full amount becoming refundable.
They calculate the brokerage you generated every month, and refund back to you such amount, but obviouslylilited to the cumulative total of Rs 6000/-.
For example, if you opt for AMC 6000 of SK on 1-Jan-09, and if you generate a brokerage of Rs 2000 during Jan 09, Rs 3000/- during Feb-09 and 4000/- during Mar-09, then the amount refunded will be as under:
At end of Jan-09 = Rs 2000/-
At end of Feb-09 = Rs 3000/-
At end of Mar-09 = Rs 1000/-
Total amount refunded is limited to advance paid= Rs 6000/-
The selected % of brokerage is applicable till 31-Dec-09.
4.
None of our business what they do with the deposit money..
It's just an assurance to them that you will generate a specific turnover for them, and in return, you get lower % of brokerage.
That deposit amount is NOT available as margin for trading, until it is refunded back to you (month by month, or whatever)
sunil bhai,
when i yesterday visited local religare franchisee, this is what they offered me..
1)odin software and not race pro (i want race pro for intraday charts)
2) they were saying no prepaid scheme is available( trump a/c)...i think prepaid scheme is available only on their branches and not sub brokers.
3) brokereage rate will be 4% one side
4) account opening charges of rs. 500
so what is ur suggestion? should i contact their branch office for race pro software and prepaid schemes?
when i yesterday visited local religare franchisee, this is what they offered me..
1)odin software and not race pro (i want race pro for intraday charts)
2) they were saying no prepaid scheme is available( trump a/c)...i think prepaid scheme is available only on their branches and not sub brokers.
3) brokereage rate will be 4% one side
4) account opening charges of rs. 500
so what is ur suggestion? should i contact their branch office for race pro software and prepaid schemes?
contact branch for racepro with charting facility
visit their website for branch address/tele no.
ODIN software is under RALLY brand name - even this has good prepaid/advance brokerage schemes - does not have charting facility. (though i think the latest version of ODIN has charting; please confirm yourself)
visit their website for branch address/tele no.
ODIN software is under RALLY brand name - even this has good prepaid/advance brokerage schemes - does not have charting facility. (though i think the latest version of ODIN has charting; please confirm yourself)
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