best broker for intraday trading
i've used almost broking firm's softwares and the best for intraday is one which allows you to trade till 3.30. One must not miss the last hour as this the time when u'll make maximum profits. following brokers offer till 3.30
1 ANGEL BROKING
also the software DIET ODIN is certainly amongst the best trading softwares. good intraday limits and no resriction on stocks.
2; SHAREKHAN
software is ok, good for charting ,as it gives INTRADAY DATA for 5 days, however it gives margin of only 4 times and even less in case of certain stocks. However it has the best charting. Sharekhan provide joint account for equites and commodities and at any time u can swithch funds from equiteis to commdities, which is good.
3: karvy
officaly there intraday square off time is 3.15 , however my relationship manager allowed me to trade intraday till 3.30. he converted my positons everyday to delivery without asking for extra funds.
However their tradiing software GOTX is good for trading , but it doesnt have even the basic charting facilities.
4: ventura
no trading experience with them, but these guys have the same policies as sharekhan.
AVOID IF YOU ARE A DAY TRADER
1 INDIA INFOLINE: very defensive broker , doesnt even give 2 to 3 times margin on trading stocks. However u can trade till 3:30
2: INDIABULLS RELIGARE , reliance money,
intraday square off time of 3:00, which keeps them out for day traders.
BOTTOMLINE: go with angel broking u can also bargain for cheap intraday brokerage as they are quiet lineant in terms of intraday brokerage however delivery brokerage will be a bit higher. also u can get a limit of 6 times on stocks.
BIGGEST ADVANTAGE OF ANGEL: it has not categorised stocks eligible for intraday, as a result u can trade in any scrip which is listed in fno. As you guys know that fno lot size has been reviesed tremendously so cash segment is the best option for day traders. As u can trade your quantity and also there's great saving in cost in terms of SLIPPAGE.
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1 ANGEL BROKING
also the software DIET ODIN is certainly amongst the best trading softwares. good intraday limits and no resriction on stocks.
2; SHAREKHAN
software is ok, good for charting ,as it gives INTRADAY DATA for 5 days, however it gives margin of only 4 times and even less in case of certain stocks. However it has the best charting. Sharekhan provide joint account for equites and commodities and at any time u can swithch funds from equiteis to commdities, which is good.
3: karvy
officaly there intraday square off time is 3.15 , however my relationship manager allowed me to trade intraday till 3.30. he converted my positons everyday to delivery without asking for extra funds.
However their tradiing software GOTX is good for trading , but it doesnt have even the basic charting facilities.
4: ventura
no trading experience with them, but these guys have the same policies as sharekhan.
AVOID IF YOU ARE A DAY TRADER
1 INDIA INFOLINE: very defensive broker , doesnt even give 2 to 3 times margin on trading stocks. However u can trade till 3:30
2: INDIABULLS RELIGARE , reliance money,
intraday square off time of 3:00, which keeps them out for day traders.
BOTTOMLINE: go with angel broking u can also bargain for cheap intraday brokerage as they are quiet lineant in terms of intraday brokerage however delivery brokerage will be a bit higher. also u can get a limit of 6 times on stocks.
BIGGEST ADVANTAGE OF ANGEL: it has not categorised stocks eligible for intraday, as a result u can trade in any scrip which is listed in fno. As you guys know that fno lot size has been reviesed tremendously so cash segment is the best option for day traders. As u can trade your quantity and also there's great saving in cost in terms of SLIPPAGE.
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i certainly dont agree with the polls which say religare is the no.2 broker for intraday trading. its certainly the worst along with reliance money. I opened a 15000 advance brok account for day trading and i've suffered like anything.
no limits, trading only till 3.00, restriction on stocks to trade intraday. So I would request all the members not to be mislead by polls. And i assure you that i am not connected to any broking house.I am a independent chartered accountant and a full time trader. My only intention is that we must not rewards broking houses for their wrong doings. We as traders are the most imp source of income for them and we must be served well.
no limits, trading only till 3.00, restriction on stocks to trade intraday. So I would request all the members not to be mislead by polls. And i assure you that i am not connected to any broking house.I am a independent chartered accountant and a full time trader. My only intention is that we must not rewards broking houses for their wrong doings. We as traders are the most imp source of income for them and we must be served well.
I would like to know what problems you had with religare. Since I am considering opening account with them.
I think this would be the perfect thread for you:
http://www.traderji.com/brokers-tra...ews-angel-broking-religare-22.html#post341486
I think this would be the perfect thread for you:
http://www.traderji.com/brokers-tra...ews-angel-broking-religare-22.html#post341486
if you wanna trade intraday, dont even consider them. they are ok for investors. these guys just forced me like anything to open an account with them since i enquired for them every day a officer came to my place to , i am a day trader and these guys promised me like anything. Before opening account i gave them a list of scrips i trade intraday and they said they will give limits upto 10 times and even 20 times, i made clear that it would be fine if they give me 5 times. Also they told me they had intraday square off time of 3:15 with their product called super trade and with special permission they will also increase my intraday square off time till 3:25. And so i opened a account with them with prepaid brok of 15000. After the account was opened i transferred my funds to their account and i found that intraday square off time was 3.05. One of their officer said to activate super trade , your account should have minimum cash balance of 1 lakh. I did that and these guys took another 4-6 days to activate supertrade. Now`after supertrade was activated i found that the stocks which i trade was not eligible for super trade. Before opening account i clearly told them and even gave them the list of scrips i trade and these guys assured me like anything that there wont be any problems. Let me tell you i am not talking about some z grade stocks, i trade in scrips like, IVRCL INFRA, EDUCOMP, RELCAPITAL, INDIABULLS REAL ESTATE. In the end they just gave me around 2.5 to 3 times limit and intraday square off time was 3.05. I phoned all these guys who promised me and trust me all of them were just not ready to listen to me. I had converstaion even with their branch head and regional head but trust me all of them just said good things but didnt do anything.
The bottomline is
i lost about 15 trading days.
my funds were stuck and i lost a whole lot of opportunity.
i didnt knew what to do with 15000, prepaid brokerage.
And now these guys have also reduced the supertrade timings to 3.05, so it just doesnt make sense for day traders and a no no for sure.
I'll also post the complaint i lodged with them in next post. We must not reward brokers who dont keep their words.
The bottomline is
i lost about 15 trading days.
my funds were stuck and i lost a whole lot of opportunity.
i didnt knew what to do with 15000, prepaid brokerage.
And now these guys have also reduced the supertrade timings to 3.05, so it just doesnt make sense for day traders and a no no for sure.
I'll also post the complaint i lodged with them in next post. We must not reward brokers who dont keep their words.
Ajax, where did you get the news that PIB and IB are same?
PIB is the name of trading terminal from indiabulls, Power India Bulls. Where as Interactive Brokers(IB) are international brokers with whom in just one margin, you can trade which ever market you feel like, say u can trade in US, Europe, etc.... but you need to be a Real bigggg HNI with more than 100000 USD as margin and minimum brokerage per month should be nearly 2k USD
PIB is the name of trading terminal from indiabulls, Power India Bulls. Where as Interactive Brokers(IB) are international brokers with whom in just one margin, you can trade which ever market you feel like, say u can trade in US, Europe, etc.... but you need to be a Real bigggg HNI with more than 100000 USD as margin and minimum brokerage per month should be nearly 2k USD
As far as my knowledge goes, if you have invested in stocks and want to make use of the margin facility available on stocks, it's Sharekhan and indiabulls.
both gives you 4 times margin for 7 days which u can make use of it in this bull market. indiabulls gives around 8 times exposure for intraday on 'A' category stocks. if you are a master in intraday trading and want to trade only in intraday, ,then blindly go for ICICIdirect where in you can trade upto 20 times under margin plus. but you should be careful in keeping the stoploss.
in my opinion ODIN is only been hyped. it is good for dealers who place clients orders not for online traders. it keeps changing color for bid/ask and LTP which looks cool, but as a trading terminal it's not upto the mark.
I personally use sharekhan's tradetiger for analysis and trading as i feel it's the best broker's terminal. but indiabull's PIB is also on par if it comes to intraday charting, but fails in EOD charting.
both gives you 4 times margin for 7 days which u can make use of it in this bull market. indiabulls gives around 8 times exposure for intraday on 'A' category stocks. if you are a master in intraday trading and want to trade only in intraday, ,then blindly go for ICICIdirect where in you can trade upto 20 times under margin plus. but you should be careful in keeping the stoploss.
in my opinion ODIN is only been hyped. it is good for dealers who place clients orders not for online traders. it keeps changing color for bid/ask and LTP which looks cool, but as a trading terminal it's not upto the mark.
I personally use sharekhan's tradetiger for analysis and trading as i feel it's the best broker's terminal. but indiabull's PIB is also on par if it comes to intraday charting, but fails in EOD charting.
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