Would like to give my feedback in continuation of what our friend AKG 7051 has given. Please note that
HAve had accounts with 3 brokers now for the past year or so.....kotak for the last 1 year, MOST and ib for more than 3 years. Have just opened a reliance money account around a month back.
1. IB: Have managed to get very good brokerages from them. HAve largely had exposures that they have managed to increase whenever i have wanted. HAd a relatively good experinece with them except for the last 3 months where a new RM has traded in my account and caused a loss of 1.2 lakhs. The guy came to try and bargain with me and have gone to SEBI. The branch head has now come and said that India Bulls will compensate and has asked for 1 more months time. Have stopped trading with them. Will keep following up with SEBI till they pay up. There is no Customer Service team to rely upon.
2. MOST: The delivery based research calls that I get from MOST is among the best that I have encountered in the industry. They are not willing to negotiate on the rates and hence, largely do delivery based business with them. Their RM's are of a very high quality and they are very very prompt in service. Like the outfit but money (brokerages) are also very dear to me.
3. Kotak: HAd signed up with them for the Flat product that they had launched. However have shifted to their regular offering as they give exposures for delivery and intraday against stocks too. Have become extremley flexible in brokerages and they negotiate brokerages based on volumes. Got a rate comparable to IB. Very complicated system of calculating margins and it took me nearly 2 months to crack. Am a lot more comfortable now that I understand their accounting practises. Customer Service desk is mostly unreachable and also substandard but they have alloted a dealer for me and he is among the best that I have dealt with in the broking industry. Their KEAT premium is good.
4. Reliance: Typically opposite to MOST......very very bad in customer service but they managed to get me the lowest brokerages in the market. But in case the system gives the kind of problems that it has given me over the last month, then it is better to stay away till the system stabilises.
Hope this will be of help to all.
HAve had accounts with 3 brokers now for the past year or so.....kotak for the last 1 year, MOST and ib for more than 3 years. Have just opened a reliance money account around a month back.
1. IB: Have managed to get very good brokerages from them. HAve largely had exposures that they have managed to increase whenever i have wanted. HAd a relatively good experinece with them except for the last 3 months where a new RM has traded in my account and caused a loss of 1.2 lakhs. The guy came to try and bargain with me and have gone to SEBI. The branch head has now come and said that India Bulls will compensate and has asked for 1 more months time. Have stopped trading with them. Will keep following up with SEBI till they pay up. There is no Customer Service team to rely upon.
2. MOST: The delivery based research calls that I get from MOST is among the best that I have encountered in the industry. They are not willing to negotiate on the rates and hence, largely do delivery based business with them. Their RM's are of a very high quality and they are very very prompt in service. Like the outfit but money (brokerages) are also very dear to me.
3. Kotak: HAd signed up with them for the Flat product that they had launched. However have shifted to their regular offering as they give exposures for delivery and intraday against stocks too. Have become extremley flexible in brokerages and they negotiate brokerages based on volumes. Got a rate comparable to IB. Very complicated system of calculating margins and it took me nearly 2 months to crack. Am a lot more comfortable now that I understand their accounting practises. Customer Service desk is mostly unreachable and also substandard but they have alloted a dealer for me and he is among the best that I have dealt with in the broking industry. Their KEAT premium is good.
4. Reliance: Typically opposite to MOST......very very bad in customer service but they managed to get me the lowest brokerages in the market. But in case the system gives the kind of problems that it has given me over the last month, then it is better to stay away till the system stabilises.
Hope this will be of help to all.