Brokerage and trading account

[snowy]

Hi,

I have just started trading and hence I have a lot of queries. I have a trading account with a company called vertex securities. I trade only with the NSE through a software called ODIN supplied from my broker. My demat account is also with them.

I would like to know a few things.

I am being charged brokerage of 0.05% for intra day and 0.4% for delivery based trades for each leg of the trade ( 0.05 % for buying and 0.05% for selling) (service charges, transaction tax extra) . I would like to know if it is comparable with other brokers. Moreover, my broker asks me to compulsarily maintain a minimum balance of Rs. 25, 000/- in my trading account at all times. Intraday exposures are 10 times my trading capital.
I would also like to know if this is the general norm.

Other wise the people in the chennai branch of vertex are really very courteous and they offer tips throughout the trading session ( of course take it with a pinch of salt) and rectify online problems etc. as soon as possible.

I would like your feedback on this

Thanks and Regards,
Snowy

 

[Traderji]

The brokerage and margin charged by your broker sounds very reasonable.

 

[snowy]

Thank you traderji

Regards
Snowy

 

[arprtrd]

How much does Vertex charge for derivatives?

Thanks

arp

 

[harkara]

Dear Traderji:

Having gone through the posts on the subjectline, I feel that the deal i struck with indiainfoline and Moneypore is excellent and a STEAL. iTS 0.2% FOR DELIVERY AND 0.03% for intraday. The trading terminal software is blazingly fast and live quotes without any delay. funding excellent. many people from all parts of india have taken advantage of the above. this is a special package only for my group at hyderabad. if any member is desirous of taking the advantage, traderji, pl send me the name,address,contact number so that i can arrange it for them
HAPPY DIWALI AND HAPPY TRADING--HARKARA

 

[snowy]

Hi,

The brokerage for trading derivatives is the same as for intraday, but I think the margin requirements are higher and moreover they also charge a software maintenance fee of Rs. 500 every month if you install the software at home .

Snowy.

 

[snowy]

Dear Traderji:

Having gone through the posts on the subjectline, I feel that the deal i struck with indiainfoline and Moneypore is excellent and a STEAL. iTS 0.2% FOR DELIVERY AND 0.03% for intraday. The trading terminal software is blazingly fast and live quotes without any delay. funding excellent. many people from all parts of india have taken advantage of the above. this is a special package only for my group at hyderabad. if any member is desirous of taking the advantage, traderji, pl send me the name,address,contact number so that i can arrange it for them
HAPPY DIWALI AND HAPPY TRADING--HARKARA

This seems to cheaper than the deal which I have got. Can I get more details ? And I would like to know what the flat fee that they charge for trading from my own computer is .

Regards,
Snowy

 

[abhinav]

i have a question about 5paisa.com if anyone is using it... can i place an intraday trade after 2:30 pm, or do they square off all intraday trades by then?
thanks
abhinav

 

[isb_santosh]

Mr. Harkara,

Can you please let me know the details of the trading account you have suggested?
Regards.

 

[harkara]

Dear isb santosh,abhinav,snowy & other friends: Auto square-off at 3-15 is not there in 5pasia. we can place orders even upto 3.29pm and there is no flat fee or maintenance fee if we use 5pasia ODIN terminal at home. no minimum guarantee. one should send 5500--00 along with application which would be adjusted against buying in their respective accounts. Members desirous of opening 5paisa accounts may send email requested addressed to [email protected] : Sub: Attn: Mr Srinivas Reddy-Festival Special Scheme-New Account opening and give their name,contact address, phone number etc with cc to me ([email protected]). I will arrange application form etc.
Traderji: If any members are requested, I can help them in account opening matters
Regards
--Harkara