Are you looking for super super cheap brokerage?

[iTrade]

What I am about to share applies to full time intraday traders or atleast for people whose trading turnover is more than 1-2 lakhs per day.

After losing or making money since last 1-2 years in intraday trading, I have realized that your brokerage should be minimum 1 paise or even less if possible, that too only on one side (either buy or sell).
If i calculate the brokerage I pay for my entire year, it sometimes outsets my profits and I really feel bad about it.

So, I believe all those threads where ppl are talking about angel, ventura, sharekhan, geojit etc and talking about 2 paisa brokerage are beginners or intraday traders who dont think from a long term perspective.

I am surprised why and how does one does intraday trading with even 2 paisa??? What I am more suprised is that no senior has even written about this..... Why?

I know there are threads on rk global and justtrade who offer super low brokerage, but people still keep on talking about sharekhan, indiabulls etc for lower brokerage. I know that some may have credibility and reliability issue with brokers like rk, justtrade, etc... but then what are the good options available???

I am open for comments.....

 

[mrkanitkar]

I have account with RK, ICICI, Indiabulls, Angel, Motilal OSwal. RK is good, but the problem is their margins for FNO are way above others, e.g Vijayabank - 88K/1.24L, Ashokleyland - 45K/59K and so on for all stock futures. RK's nifty future margin is matched with other brokers. I am trying to find answer, I am doing intraday fno, what is better lower brokerage or lower margins requirement.
RK don't give any exposure on fno intraday.

I think fix / flat rate brokerage like RK makes sense but margin money for FNO should be reasonable.

 

[comm4300]

Are you looking for super super cheap brokerage?...

yes.

but then what are the good options available???

thought you had the answer....at least that is what your thread title implied !?

 

[iTrade]

Thread has the answers I believe. RK and Justtrade.in....
Only issue sighted is credibility and reliability of these brokers...
Feel free to add yours...

 

[alroyraj]

Thread has the answers I believe. RK and Justtrade.in....
Only issue sighted is credibility and reliability of these brokers...
Feel free to add yours...

They are credible but reliability is clearly an issue.
What do you have to say about the margin issue since primarily traders prefer to trade FnO with RKG...

As per your query ,only brokerage willing to give 0.01% on single leg is Ventura.
(But have heard significant negative issues regarding them) Other choices perhaps on both legs are Indiabulls, IIFL and maybe Geojit .

 

[iTrade]

Ventura is not a bad option for intraday. I have used it. For day trading, there is only one issue and that is server disconnections which can happen anytime....
But again, margin is a requirement for futures trading from their side and I dont know how to deal with it...

 

[alroyraj]

How is the fund transfers and linkage with bank accounts. One thing is they do not have a web interface as a back up I heard.
Is there any min brokerage per share and how is it calculated?
Futures is charges at the intraday brokerage...but margin I am not sure how it compares.

 

[iTrade]

Fund transfer is normal like others. Instant transfer from the acct you linked. Withdrawal takes 2 days, just like others.

Yes, no web based backup which is again a concern.

They dont have a proper customer care/support environment. I mean, they have few people who sit and solve your queries or even trade for you. But it is not possible to track a problem request as they dont have any funda of request ID. If someone messes with you, there is no way to track the person.

About minimum brokerage - never checked that one. I always had good volume... Yes, future is charged as intraday brokerage.
Margin - you can download the latest F&O file for margin from their site:
http://www.ventura1.com/pdf/Derivatives/SpanPdf.pdf

 

[alroyraj]

Fund transfer is normal like others. Instant transfer from the acct you linked. Withdrawal takes 2 days, just like others.

Yes, no web based backup which is again a concern.

They dont have a proper customer care/support environment. I mean, they have few people who sit and solve your queries or even trade for you. But it is not possible to track a problem request as they dont have any funda of request ID. If someone messes with you, there is no way to track the person.

About minimum brokerage - never checked that one. I always had good volume... Yes, future is charged as intraday brokerage.
Margin - you can download the latest F&O file for margin from their site:
http://www.ventura1.com/pdf/Derivatives/SpanPdf.pdf

Minimum brokerage is usually per share irrespective of your volume ,you can trade 10000 or a crore but depending on the value of the share usually below 100 Rs ,the brokerage can be charged 5 paise.

Span is slightly more than Indiabulls a percent more.
Every order in FnO blocks margin irrespective of the broker unlike in equity.
Is brokerage of 0.01% intraday available with a decent margin check?

 

[iTrade]

Is brokerage of 0.01% intraday available with a decent margin check?

No idea. I was on the 0.02% plan when I used it... plus its been long time I used ventura. YOu should check with them for latest info rather than relying on old info...