Brokers

[amh]

I am dealing with three online brokerage houses 1.Sharekhan.com (Speed Trade Plus) 2.Refco-Sify.com and 3.Hdfcsec.com(a subsidiary of hdfcbank). Out of these three Sharekhan is the best as it has the lowest brokerage structure,very good site which provide almost all the information like intraday graph,depository,trading limits,market news,trading calls,market vide open positionsi n f&o etc.on one screen and at a click of a button.It also provides a chat server where you can chat with your dealer and rectify your difficulties and answer your queries online.
Refco sify is average with little higher brokerage and little lesser facilities like online graph etc.
Hdfcsecurities is worst among them as it has one of the costliest brokerage structure and there customer care,in the name of site security treats you like thiefs and acts like a sarkary babus,absolutely impracticle for a regular trader.No wonder they have been making losses now for quiet sometimes.

 

[dilip2k]

Hi,
Do you trade options with SK? and do they let u write options? i dont think so, and they have the attitude of not bothering to inform you abt any margin changes or any restrictions they place on your trade. One day you are allowed to write/sell options and the next day its off!! can any serious options trader put up with that?
As far as their interface goes its good but for the rest i would disagree.

 

[jaideep]

ICICIDirect is my broker & their TRADELINK screen provided for privileged clients (guess they mean frequent traders or some such) is wholesome & pretty handy with everything you need for trading the day. No live chat-in with the dealer though but they do provide timely on-screen advisory signals from the dealer during the day which also prove useful (to be taken with a pinch of salt at our own discretion, as far as I am concerned at least).

Brokerage is high by normal standards but their 3-in-1 account (banking-trading-demat) under one roof tilts the scales in their favour for me. Their customer service on-line is quite OK & I don't almost ever need to talk to or meet anyone in flesh & blood.

Their on-line trading servers do have a glich now & then which kind of spoils all the good about ICICIDirect that I have written above. But, I now wonder if that is not the case with so many other on-line brokers. Some I have heard of from friends & two I have read about in this forum. Guess one has to make the (multiple) Hobson's Choice as far as his/her broker is concerned.

 

[harkara]

Dear Traderji:
What all Jaideep has stated is true. ICICI is charging quite heavily and i had the opportunity to talk to their national sales director and now after much thought, they have lowered their commissions. still, it is the highest in the trade. i have already posted some posts regarding the commissions charges by 5paisa and moneypore which are highly competitive. should any member require any information, i am at it.
regards
--harkara