Hello everyone, i would like to post my personal experience with IndiaInfoline. I opened up an account with them falling for cheap brokerages in delivery and intraday trading. But now i regret it as they have lot many hidden charges when compared with other brokers.
1) First surprise was Regulatory charges on every transaction which i didn't notice with other brokers
2) Second is NSDL DP Bill being charged every month
3) Options charges are Rs.80 per lot which is too high
4) Other than their client software (trader terminal), their website for online trading is pathetic. they don't have an option to track your portfolio live with the current market rates?
5) Another big joke with indiainfoline website is, it doesn't square off the SHORT intraday orders at the end of the day automatically. if one forgets or unfortunately is away from computer during closing time and was unable to square off the order, thats it, you are gone..your account will be charged penalties next day. Whereas in other brokers, i've seen the respective system automatically squares off the intraday orders during the expiry
My spouse also has a demat account with another broker which charges a bit high brokerage, but their service is very professional and absolutely no HIDDEN charges. I'm really fed up with Indiainfoline within 4 months. So just posting my experience to warn the fellow traders who are contemplating to open a demat account with india infoline
Regards,
Senthilnathan
1) First surprise was Regulatory charges on every transaction which i didn't notice with other brokers
2) Second is NSDL DP Bill being charged every month
3) Options charges are Rs.80 per lot which is too high
4) Other than their client software (trader terminal), their website for online trading is pathetic. they don't have an option to track your portfolio live with the current market rates?
5) Another big joke with indiainfoline website is, it doesn't square off the SHORT intraday orders at the end of the day automatically. if one forgets or unfortunately is away from computer during closing time and was unable to square off the order, thats it, you are gone..your account will be charged penalties next day. Whereas in other brokers, i've seen the respective system automatically squares off the intraday orders during the expiry
My spouse also has a demat account with another broker which charges a bit high brokerage, but their service is very professional and absolutely no HIDDEN charges. I'm really fed up with Indiainfoline within 4 months. So just posting my experience to warn the fellow traders who are contemplating to open a demat account with india infoline
Regards,
Senthilnathan