Choice for a beginner

Sharekhan all the way.
Dont even think about it.

brokerage shdnt be an issue as u will make very less transaction.
in everything else Sharekhan is better.

Hi Sangram,

broker plays a very vital role in trader's success. Only profit is not the aim but to minimise the brokerage is also important.

If you are asking for one broker out of your list then would not able to comment. But as you go deep into stock market and later you will consimder to have minimum brokerage with lots of tools to assist you.

Hence if i put up a criteria for you to choose broker then follow this:

1. if you are interested in intraday then broker with least brokerage or a fixed brokerage on any volume.
2. if interested in positional or delivery same rule applies. low brokerage.

I personally is using IIFL and happy with them. but now checking Zerodha as they are coming up with fixed brokerage of Rs20 per trade executed. sound good. secondly is they are offering trade terminal of NSE means directly from NSE server.

I suggest you to play safe in respect of brokerage. hence check more options for broker.

cheers

Hi,

You say that you are a beginner. Please make it clear if you want to be an investor or a trader. If you are going to be a long term investor go with HDFC. I started as an investor in 2007. Despite the market down turns of 2008-2009, I made more than 300% on some investments. I am with HDFC. Their brokerage appears to be high compared to others. Their screens may not be great. Their terminals may be slower. All of this did not stop me from making fantastic profits. Do your research well. There were times I paid Rs. 5 or 6 more on the market price. But those shares multiplied 4 times now. If you are a beginner-investor, go with HDFC, build up strong fundemental research, identify companies that are growing and are available cheap.



Now, if you are going to be a trader only, it is a different story. Please ignore this advice.

Wrong. They offer stop loss orders. Please check the following link.
http://www.hdfcsec.com/Cover-order/201202131858515456537

Please do not malign a very respected bank and its brokerage arm. They are ofcourse expensive but their systems are robust. I cannot make such a confident statement on discount brokerages in the market.

I would like to add one more point to this discussion. Imagine an extreme scenario when the markets face deep cuts or squeeze. Many brokers could go bankrupt taking down the client accounts with them. Such a thing happenning with HDFC is remote. I am willing to pay more bokerage to HDFC precisely for this. This becomes more importants if your investment fund size is big or is a significant part of your wealth.

Looks like you have little or no idea of how Brokers operate and SEBI rules with respect to Client funds.... All Banks offering Trading cum Demat account is an absolute NO...NO.....!!!

SG

I have used all three. And its Sharekhan for me. HDFC is a no no, Angel is o.k.

Using HDFC because your friend is using it is not a good idea. Visit Angel and Sharekhan's office and request a demo. You will yourself know the difference.

I hold a trading account with hdfc securities & the web based interface is easy to understand and efficient…u can definitely place a STOP LOSS order on their terminal…while placing the order through webbased you wl have to enter the stop loss rate in the “ trig price” field. Wherin on the Blink software you have an option to select the Stop Loss “SL” .

They charge for the “Blink” but also have a close to alternate service Market Watch..free of cost..Also priviledge of “Mobile trading”..
Brokerage…is lesser than many other in market.

I hold a trading account with hdfc securities & the web based interface is easy to understand and efficientu can definitely place a STOP LOSS order on their terminalwhile placing the order through webbased you wl have to enter the stop loss rate in the trig price field. Wherin on the Blink software you have an option to select the Stop Loss SL .
They charge for the Blink but also have a close to alternate service Market Watch..free of cost..Also priviledge of Mobile trading..
Brokerageis lesser than many other in market.

hi all, i am from kolkata, and i am very new to the markets & trading etc. my primary requirement is to keep some ESOPs allotted to me in Demat A/C. And i wish to learn the basics of trading & to earn some money through investments. i am not very aggressive investor.
I have limitations of restricted internet at office, so demat & trading shall be web based/ browser based/ portal driven and not through any specialized software/application software to be loaded in my workstation.
my initial enquiries with sharekhan is one of the worst. they do not even know how to talk with a prospective customer. sharekhan asked for 25k margin. Geojit & Religare asked for very high margin money like 50k cheque to them and 1 lakh FD/investment/ portfolio management contracts. so rather i would prefer a bank based securities service.
i had an icicidirect a/c but somehow i wont be able to operate it. so i enquired with HDFC sec, Kotak Sec, SBI Cap Sec, Standard Chartered sec, HSBC sec. Heard from a friend that SBI is not that good, costs are higher, & online things are very unsafe for any nationalised bank service providers. so SBI is no for me.
StanChart asked for 50 K margin & 13 paisa brokerage, 400 rs AMC. No other charge & SB A/C AMB is 5k.
I am yet to get details from HSBC, but the representative told me its 75 paisa and negotiable to 30 paisa depending on volume/ values of transactions.
StanChart & HSBC representatives were very well behaved persons.
HDFC representative was a dumb fellow, on every query he called up backoffice. asked for 10k as SB A/C AMB, no A/C opening charges, AMC 750 upto 11 tradings per year, 500 for 12-24 trading, 350 for more than 25 trading per year. but he told me brokerage can be negotiable upto 30 paisa depending on volume/value etc. (normal brokerage is 50 paisa).
Kotak guy was OK, offering 25 paisa brokerage for me as corporate client (i could understand he needs to get some dumb client saying corporate privilege etc.), 10k as margin, zero balance SB A/C, 600 rs as AMC (which he explained if i have more than 2L value as per latest SEBI norm, otherwise its 100 rs upto 50K value of demat).
which one shall i go for, HDFC/Kotak or any of this StanChart/ HSBC?
Anybody have any exp of StandardChartered or HSBC Sec?