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

[sumosanammain]

hhhhhhhhhhhhhhhhhhhhhhhhhhhh

 

[lazytrader]

Who charges the demat charges? The DP or the broker?

 

[Mangafreakz]

NSDL....its in my application for demat with indiabulls .
What broker you are using LT?

 

[lazytrader]

Motilal Oswal.

@sumosanammain
Can you tell me if the charges are per day transaction charges or per day per compay.
Eg: if I sell 10 shares of one and 10 shares of another company on the same day what are the demat charges?

SBI only charges 350/yr as demat charges no per trans charges

 

[tsrinivasr]

Hi

I have been following this thread for 3-4 days. I have been trading in cash segment with ICICI demat account from past one yr. YES the brokerage is very high. I have paid a brokerage of Rs 50,000 for the last quarter (April - June 2009). They gave a cash back of 10,700.

Recently i started trading in derivatives after doing a lot of background work and i found futures very profitable. Brokerage is comaparable with others for Futures in ICICI (for delivery ICICI charges 2 times more than the avg charged by other brokers). Brokerage is 0.05 % for futures. And if you square off on the same day, they just charge flat 15 Rs per lot on the cover order.

But using ICICI demat account and pressing F5 everytime is a pain.

Then I started hunting for some other brokerage and found this great community. Frankly, i have learnt a lot in this comunity in just 4-5 days.

I first assessed my trading requirements. I am full time employee in a software firm. I have a lot of flexibility regarding work. I generally relax and just take care of daily responsibilities for 4 days a week and work very hard the remaining 3 days to cover the backlogs. But if required i have to work all the 7 days and trade at all during these days.

So i cant promise any mininum turnover to the broker.

So i cant go for JustTrade or any other broker which asks for this commitment.

I checked with IndiaBulls, JustTrade, 5 paise, sharekhan etc and zeroed on shareKhan.

I have negotiated the brokerage as follows

1> No Account opening charges. No account maintainance charges for the first year. From second yr Rs 300 will be charged as AMC.
2> No Advance Brokerage
3> 5000 rs Cheque which can be used as Margin after getting the account
4> Now coming to the brokerage 0.2 for delivery
5> 0.02 for intraday (including futures). It will charged on both the legs even if squared off on the same day.
6> Rs 60 per lot for options
7> They will provide me the sharekhan SpeedTrade/ TigerTrade s/w also which will eliminate the pain of pressing F5

I am happy with this deal as even if i don't trade (if my office workload increases) i wont get charged anything.

Guys with same kinda requirement as me can go ahead with this deal i guess.
The before sales experience is wonderful. I hope the after sales support is also the same. Will definitely post about the after sales experience in my next post !

Thanks and Regards
Srinivas T

 

[Shreenath]

Well done,
This will definitely help me;will stay away from ICICI
Regards
Shreenath

 

[lazytrader]

1> No Account opening charges. No account maintainance charges for the first year. From second yr Rs 300 will be charged as AMC.
2> No Advance Brokerage
3> 5000 rs Cheque which can be used as Margin after getting the account
4> Now coming to the brokerage 0.2 for delivery
5> 0.02 for intraday (including futures). It will charged on both the legs even if squared off on the same day.
6> Rs 60 per lot for options
7> They will provide me the sharekhan SpeedTrade/ TigerTrade s/w also which will eliminate the pain of pressing F5
Srinivas T

Hi srinivas, I don't think you know about the delayed quotes issue with Sharekhan. Many sharekhan users report it. I've seen screenies with a difference of 15 pts on nifty future prices.

Well done,
This will definitely help me;will stay away from ICICI
Regards
Shreenath

generally it is better not to opt for a bank as a broker. SBI also charges .05 and .5. Although it doesn't try to fool users saying that their charges are the lowest as ICICI does. ICICI also has a detailed breakup of how their charges are lower than all others.

 

[tsrinivasr]

I have used the sharekhan terminal using a frnd's login before finalizing the deal. I didnt find any problem with it !!!

Lets see .. i can say the real experience next week when i get my own

 

[Shreenath]

LT
I feel I'm going to do business with Interactive Brokers.
They have one of the lowest commission structures for US Markets
YOu can have one account with them and trade just anything including forex
From someone who might have mentioned here, they might be competitive with Indian brokers.

Thanks
shreenath

Hi srinivas, I don't think you know about the delayed quotes issue with Sharekhan. Many sharekhan users report it. I've seen screenies with a difference of 15 pts on nifty future prices.



generally it is better not to opt for a bank as a broker. SBI also charges .05 and .5. Although it doesn't try to fool users saying that their charges are the lowest as ICICI does. ICICI also has a detailed breakup of how their charges are lower than all others.

 

[atul_junky]

help with the brokerage!!

Hello, I'm new to the forum and i must say i didn't know that such a great forum really existed. Thanks to the creators and the contributors.

now to my que.....

what i want to know is about the brokerage at various brokerage houses.
I recently opened an account with sharekhan and they are charging 5 paise brokerage on each share i trade with.

eg. if i buy a share at rs. 5.50 then it will be counted of rs. 5.55 + the taxes

is this the norm?

as far as i know the brokerage is calculted on the total amount that you trade with.

Please clarify!!!!!