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

[Satish_CN]

Thanx for the insight.

I guess Religare is out then.

I have browsed Sharekhan's Trade Tiger at my friends place.
Perhaps you might have browsed it too at http://www.sharekhan.com/TradeTiger/default.aspx The charting is good, though indicators and studies are fewer than most providers. There were reports of slightly delayed quotes, but my friend feels its ok. But he is planning to switch due to the relatively higher brokerage.

Even after much hunting I am yet to come across any posts that are comprehensive about usability. Most seem fixated on the amount of brokerage. High time that some mag or TV Channel does a shoot-out, as they do for cars, bikes, and mobiles!!


http://www.traderji.com/brokers-tra...ajaj-capital-option-turnover-calculation.html

http://www.traderji.com/brokers-trading-platforms/24054-f-o-zero-brokerage-justtrade-rk-global.html

Regards,
S

 

[lazytrader]

Don't rule out religare. I think there could be some technical issue with AMO and not really a missing feature. Recently my broker too took off the AMO feature for technical upgradation. I am certain that no broker will chose to leave out this feature. Confirmation is still required.

Sharekhan not just has delayed quotes issue but also disconnection now-a-days. While the interface on tradetiger is good the lack of cascading and resizing the various sections is a problem. I think connectivity is a minus on Sharekhan so I would not be looking at it.

I have not seen ODIN and it's feature set, other than that by terminals IndiaInfoline is the best. Brokerage seems to be 0.3% and .03% (intraday).
(the video is in my fist link in the first post here http://www.traderji.com/brokers-trading-platforms/29178-differences-between-trader-terminals.html)

Angel is supposed to be good too and they provide ODIN as well as angelanywhere. I am not sure about ODIN charting in the new version. I need some simple studies and candlesticks but not seen anywhere. No idea about the connectivity but the cu service seems to be better than "most" other brokers and brokerage is also supposed to be low.

I heard there could be some brokerage calculation issue (not turnover but brokerage) that needs to be clarified.

I too am inclined toward Religare mainly because of its freedom plan. The free turnover seems enticing but I have some doubts about the caculation. Is it free delivery volume of 40000/day or /month and again in calculation below I feel the free turnover limit is 10,000/segment and they would charge over brokerage over 10k/segment. Eg. if you buy more than 10k worth in NSE cash you will charged brokerage over the 10k free limit even if you have the BSE 10k cash limit. Again the same in futures I think if you buy one lot that costs more than 1L you will charge brokerage for over the 1L even if you have free intraday limit.

Do you know anything about it?

 

[lazytrader]

Hi Satish,

I also found this link for angel broking http://www.angelbroking.com/demat_services.asp
I don't understand much of this. Do you know if the charges are high or something that needs scrutiny before opening an account?

I already have a Demat account with SBI and want to use it with other brokers are well. That should also save me the headache of trasferring the existing shares. Do you know if there are charges to use the same demat account or do I need to open another one with the broker?

 

[lazytrader]

http://www.investsmartindia.com/ilf...c_customers/ST_DEMO-Final/Title-Thankyou.html

Clearly one of the better trading terminals I have seen but based on Java.

 

[lazytrader]

Seems like the freedom plan provides the free trading segment wise. It's mentioned there I failed to read.

I don't understand how they would calculate the delivery volume and T2T volume on per segment per exchange basis. Any idea?

 

[Satish_CN]

Seems like the freedom plan provides the free trading segment wise. It's mentioned there I failed to read.

I don't understand how they would calculate the delivery volume and T2T volume on per segment per exchange basis. Any idea?

Just off the phone with the rep.

As you might have already browsed, the freedom plan gives you upto 3 lakhs intraday equity/derivative trading and 40k delivery based trading.

The delivery based free trading allowed is Rs 10000 each for NSE cash, NSE T2T, BSE cash and BSE T2T. Calculated on delivery. Paltry indeed.

Brokerage for options is 1% or Rs 50, whichever is higher. Not included in your free trades. The 4000 subscription fees is not adjustable nor refundable.

I feel this plan is good only if you are planning mainly intraday/futures.

If you have any query, I'll be glad to bounce it along to them.

S

 

[lazytrader]

This is not a good plan for futures because the problem is that although you have a 1L free limit the higher brokerage would increase the total brokerage unless you are trading with use 1 lot and only do 1 trade a day (B & S)

It is good for cash if you are trading intraday or delivery you could trade half on BSE and half of NSE to minimize brokerage. That's all fine.

My doubt is with the T2T segment. They say that you have a 10k free limit. How do they judge whether a stock is T2T? By the segment the stock is in or the holding time. Any idea? If you talk to them sometime it would be good to ask them if the After Market orders are disable temporarily or permanently.

Since I have not seen ODIN v9 can't say much about the trading platform. Have you seen the charting features with ODIN?

 

[pgmadhav]

Guys just check out this
http://www.traderji.com/brokers-trading-platforms/29225-best-trading-terminal.html

 

[Satish_CN]

This is not a good plan for futures because the problem is that although you have a 1L free limit the higher brokerage would increase the total brokerage unless you are trading with use 1 lot and only do 1 trade a day (B & S)

It is good for cash if you are trading intraday or delivery you could trade half on BSE and half of NSE to minimize brokerage. That's all fine.

My doubt is with the T2T segment. They say that you have a 10k free limit. How do they judge whether a stock is T2T? By the segment the stock is in or the holding time. Any idea? If you talk to them sometime it would be good to ask them if the After Market orders are disable temporarily or permanently.

Since I have not seen ODIN v9 can't say much about the trading platform. Have you seen the charting features with ODIN?

Thanks for the clarification.

The charting in RACE pro is exe based, and very similar, nearly identical, to the one from investsmartindia that you had posted earlier.

http://www.investsmartindia.com/ilf...c_customers/ST_DEMO-Final/Title-Thankyou.html

A bunch of indicators and studies. Offers Candlesticks and OHLC too on intraday and EOD.

As for the AMOs, I was told they had it earlier, but have discontinued it due to technical reasons, as the orders were lining up as late as 10.20am. AMOs are likely to be back once sorted out, but no indication as to when.

I will clarify the T2T bit and get back. But isn't this segment defined by the stock exchange?

And what's your take on the Trump Super plan - the one with Rs 15000 reversible brokerage at 0.15 and 0.015%?

Regards,

Satish

 

[lazytrader]

The trump super plan seems the best for now. I was comparing all the plans in an excel sheet to find the lowest brokerage for a given trading volume. If you tell me what kind of trading and how much of it are you planning on doing I can post some of the results. It is a big mess of a sheet.

T2T segment is specified by the exchange but I dont understand why the brokerage calculation is seperate because it would be counted under delivery.

Seem Angelbroking also provides the same software with the same features, AMO should also be available. Brokerage and cu service seems to be good and they don't have upfront brokerage and it can be negotiated not like religare which has fixed plans. It would be good to take a look.

AMO seems to be a issue with NSE I think because my broker Motilal Oswal had taken it off for "technical upgradation" and started working this week. It is not absolutely necessary but is good to have. Specially with delivery trade because say a stock breaks out of a resistance (ABAN recently at 500) the next day it will gap up and runaway. In such a case the best way to catch a bottom would be to place a AMO which hit the exchange the first thing next morning and is sure the fetch to a price close to the scrips closing price (depending on your limit price).

BTW, SEBI has said that they would start rating brokerages soon. It time they get their act together. The ones that don't get good ratings are sure to lose not just good customers but may also see a switch.