Best Trading Account

#1
Indiabulls charge 900INR for opening a new Demat account and a brokerage of .3% I'm not sure what Sharekhan has to offer till I speak to their representative today.Am i being charged too much? What type of account would you recommend for a beginner at Sharekhan?

Grease Rat
 

Alchemist

Administrator
Staff member
#2
Thanks.I have a PAN card and will be opening my Demat account with Sharekhan.

Indiabulls charge 900INR for opening a new Demat account and a brokerage of .3% I'm not sure what Sharekhan has to offer till I speak to their representative today.Am i being charged too much? What type of account would you recommend for a beginner at Sharekhan?

Grease Rat
0.3% for delivery is a good rate.

You should definitely talk to as many representatives are you can. Take the "Fast Trade" terminal. A terminal is always better - provided they don't charge any annual fees for it.

Indiabulls.com does not have any annual charges for its terminal - "Power Indiabulls".
 

Alchemist

Administrator
Staff member
#4
Thanks.By terminal, I'm assuming you're talking of the the software used to trade.

Grease Rat
Yes.

I am referring to the software.

A terminal software connects you directly to the broker's servers. You don't need to log into the broker's site.

e.g. if you have 5paisa's investor terminal, you have to go to www.5paisa.com and log in.

If you have 5paisa's trader terminal, you just start the software, type in your id and password and you are connected to their servers.
 

Alchemist

Administrator
Staff member
#6
Hi Admin
What do you suggest about ICICI demant trading account?
Praveen
They charge Rs 500 per year.

Why pay Rs 500 per year when many other depository participants offer demat accounts for free?

The only advantage is that with ICICIDirect.com, you can trade with money in your bank account. You need to move money between broker and bank accounts.
 
#7
>Why pay Rs 500 per year when many other depository participants offer demat accounts for free?

Spoke to Sharekhan's representative today.Was shown how to use their software.But Sharekhan charges an AMC of 300 INR from the second year onwards and their brokerage for delivery is .5% I was also told that the minimum money required to open an account was 5000INR.Makes me feel Indiabulls offers a better deal.How do you find their terminal, Alchemist?

Grease Rat
 

Alchemist

Administrator
Staff member
#8
Makes me feel Indiabulls offers a better deal.How do you find their terminal, Alchemist?

Grease Rat
Indiabulls' terminal is reliable.

It has good connectivity and is simple to use.

My favorite is 5paisa's "Trader Terminal", but I don't like the minimum Rs 1000 brokerage commitment that 5paisa asks for.
 

ams

New member
#9
Comparison table: Can anyone plz. update

----------------------------------------------------------------------------------------------------------------
Broker----- Demat account----brokerage (day/ delivery)------Advantage/downside
Indiabulls----- (900)----------- 0.10 & 0.50--------No annual charge for "power Indiabulls"
ShareKhan----- 300 (from 2nd yr) ----- 0.5 ----- min. 5000 to open acc.
Master Capital----- ?----- ----- (0.02) ?----- lowest brokerage
HDFC ----- ----- 800----- ----- 0.5 ------------online transfer of money
ICICIdirect----- ----- 500----- ----- ?----- ----- online transfer of money
5paisa----- ----- NIL----- ----- 0.05 & 0.25 ----- for Trader terminal min. 1000 brokerage per month
----------------------------------------------------------------------------------------------------------------
 
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Alchemist

Administrator
Staff member
#11
--------------------------------------------------------------------
Broker---- Demat account--brokerage (day/delivery)---Advantage/downside
Indiabulls------ (900)------- 0.10 & 0.50-----No annual charge for "power Indiabulls"
ShareKhan----300 (from 2nd yr) --0.5 ------- min. 5000 to open acc.
Master Capital---- ?----- ----- (0.02) ?------ lowest brokerage
HDFC ----- ----- 800----- ----- 0.5 ---------online transfer of money
ICICIdirect------ 500----------- 0.75-------- online transfer of money
5paisa----- ----- NIL------ 0.05 & 0.25 ----- for Trader terminal min. 1000 brokerage per month
Religare ---------NIL-------0.05 & 0.50--------online transfer of money-minimum margin Rs 5000.
---------------------------------------------------------------------
 

ams

New member
#12
Plz. update this comparison table:

------------------------------------------------------------------------------------------------
Broker---- Demat account--brokerage (day/delivery)---Advantage/downside
Indiabulls------ (900)------0.10 & 0.50------- No annual charge for "power Indiabulls"
ShareKhan----300(2nd yr)-----?--0.50 -------online transfer, min. 5000 to open acc.
Master Capital----300------0.04 & 0.40--------
HDFC ----- ----- 800--------?----0.50 -------online transfer of money
ICICIdirect------ 500----------?--0.75--------online transfer of money, slow, IPO buy closes 1-3pm on last day
5paisa----- ----- NIL------ 0.05 & 0.25 -------for Trader terminal min. 1000 brokerage per month
Religare ---------NIL-------0.05 & 0.50--------online transfer of money-minimum margin Rs 5000.
--------------------------------------------------------------------------------------------------
*Service charges are extra for all trades.
 
#13
Plz. update this comparison table:

------------------------------------------------------------------------------------------------
Broker---- Demat account--brokerage (day/delivery)---Advantage/downside
Indiabulls------ (900)------0.10 & 0.50------- No annual charge for "power Indiabulls"
ShareKhan----300(2nd yr)-----0.07--0.50 -------online transfer, min. 5000 to open acc.
Master Capital----300------0.04 & 0.40--------
HDFC ----- ----- 800--------?----0.50 -------online transfer of money
ICICIdirect------ 500----------?--0.75--------online transfer of money, slow, IPO buy closes 1-3pm on last day
5paisa----- ----- NIL------ 0.05 & 0.25 -------for Trader terminal min. 1000 brokerage per month
Religare ---------NIL-------0.05 & 0.50--------online transfer of money-minimum margin Rs 5000.
--------------------------------------------------------------------------------------------------
*Service charges are extra for all trades.
 
#14
My dear Friends,

I have an on-line trader terminal with Religare. They charge nothing for it. But take Rs. 1800/- as advance, which is adjusted in brokerage.

Also the brokerage is 3paise for intra day and 30 paise for delivery.

I would like to add that I have gone to Religare office of my own and without any reference and still they offer me the brokerage mentioned above. I liked the services and the staff is also very co-operative.

I had gone to Karvy but they told me Rs. 500/- initial charges and 5 paise intra day and 50 paise delivery, which i think is pretty high.

I also goes to ICICI direct. They charge Rs. 750/- initially and 5 paise for intra day and 75 paise for delivery. But ICICI direct offers a three-in-one account. Means bank Savings account, DMAT Account and Trading Account. You can operate ICICI Bank Savings account on Zero balance if you go under the 3-in-1 scheme.

Kotak Mahindra Bank is also offering the same product. Means 3-in-1 account with zero balance bank savings account. The initial charges are Rs. 500/- and 4 paise for intra day and 50 paise for delivery.

In the end, I would like to tell something to you guys,



I have read the same in some newspaper or may be Moneycontrol website.

Reliance Money owned by ADAG Group is pushing aggressively in the Stock Brokerage Business. The Brokerage offered by Reliance Money is very-very low. I can't confirm but some people say that Reliance Money charge 0.5 paise for intra day and 5 paise on delivery. The figures are not confirmed. Please check the same. Also, they offer unlimited trading for certain fixed time, like for 1 month, 3 months, 6 months. Different Plans. The News also says that Reliance Money can't operate on such low brokerages. And they have to increase the same. But the low brokerages offered by Reliance Money is for breaking away the customers of other brokerage houses. Once, they are successful in their plan, the brokerage rates will go up.
Also, I don't know that whether the services offered by Reliance Money are good or not. My presumption is that 'when they are offering such low brokerages, how can the service be good?

Please post your comments. Waiting.
 
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#15
Trading Account

My Dear Alchemist,
I have some doubts regarding trading account.
What are the risk factors associated with while opening trading account.
Generally in howmany days we will get money after selling of shares.

Please guide me my dear friends.

Thanx in advance
-Raghu
 
#17
Money will be paid out on T + 3 ... you will get it in your account after 3 days ..

make sure that you dont give the broker the power of attorney to trade on your behalf .. plus there might be some minimal yearly maintainance charges ..

read this story ..
http://asterix2k.blogspot.com/2007/08/share-khan-or-sheer-wimp.html
Hi Ranji,
ThanQ for your reply and your ref.
I read the story of Sharekhan. Its really shocking. Once again thank you very much for your ref.
-Raghu
 
#18
regarding RIL Money

I didn't touch it fearing of hidden costs...I don't wanna get into trouble just like they offered 500 Rs mobile and gave a bill of 5000 instead of hardly 450-500Rs....

Even thoughreliance is a great company for investors...their customers and employees and not at all satisfied.....!!

and i donno wat pulls people to take RIL's fone....

Could some one explain about Reliance money ??

Thanks
Vivek
 
#19
My dear Friends,

I have an on-line trader terminal with Religare. They charge nothing for it. But take Rs. 1800/- as advance, which is adjusted in brokerage.

Also the brokerage is 3paise for intra day and 30 paise for delivery.
I somehow am not very comfortable with the advance payment of the brokerage. like in your case. 1800 at .30% means somewhere around 6Lac of trade. This might be low but still if you are not able to trade that much, the actual/effective rate you are paying will be much more.

I was also approached by a similar scheme from sharekhan. they asked for 2000 advanced payment and the brokerage would be .40%
 
#20
Say No to

Say No To Reliance Money....The worst terminal....no portfolio tracking, not in good speed.....Not able to connect Customer Care Center....and many more flaws....

I ADVISE YOU - DON"T GO 4 RELIANCE MONEY
 
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