Choosing Broker - India Bulls

[nathan]

Esteemed friends,
I have been using ICICI Direct so far. Feel the brokerage charges are extremely high and want to switch. I feel India bulls charges much less brokerage when compared to ICICI.

Qn 1. Do they allow you to place a limit order ? In Icici direct, you can place an order before the trading hours start. Eg: I can place an order for RIL for 980. The advantage is in intraday fluctuations the share price varies from 979 to 1000, you need not keep watching if the price has come down to 980. Is that feature available in India Bulls?


Qn 2. How is money transferred to India bulls? In ICICI, I can simply modify my allocation and in seconds, I can have it. How does it function in India bulls?

Qn 3. If you had any negative experience with India bulls please share it with me.

Friends kindly advise. Your help is greatly appreciated.

 

[aijaz159]

Dear friend,
I totally agree with you icicidirect is a fantastic platform for trading but they are very expensive in terms of brokerage, they hav 2 options, fixed brokerage and one another both are high if you compare with indiabulls, indiainfoline etc. but the service and security of your funds and shares is 100%. as you mentioned funds allocation is very easy and quick.
Indiabulls is a good brokerage, I burnt my fingers with them in Hyd. the guy responsible pushed some stocks down my throat forcefully just to make his commission grow, most other brokerage houses are same some open some hidden. Please try kotak securities they are upcoming, honest and good try
them you should be satisfied.
Aijaz

 

[xienes1]

Do some searching on Zerodha too.
I am thinking of opening an account with them.

I am presently using Indiabulls.

Good About Indiabulls:
Fast
Hangs less often(PIB software)
You can place limit order, stop orders and set alarms

Bad:
Terminal Locks after an hour if you don't trade anything.Very annoying.
I don't think you can put orders before market opening, once I tried , it gave me a message that order was rejected by exchange as it was not open.
You are not allowed to take intraday positions in many stocks, even if they have become very liquid , only A category stocks are allowed I suppose.
Their RM are pretty smartass , they will tell you diff. brokerage and give you something else. Make sure you get the correctly bargained brokerage by checking your ECNs before making big trades.
Charting system is very bad. In PIB , only intraday chart of same day is visible, you cannot see the previous days charts and daily charts. For that you have to go to their website. Very annoying.
You can't do Tape Reading , there is no Time and Sales windows. If you want to use that to time your entry and exit, look somewhere else. Only option you have to look at the tick chart or the LTQ and LTP.

 

[nathan]

Dear aijaz159 and xienes1

Many thanks for your inputs.

Aijaz: Many comparison websites were telling IB was lowest in Brokerage, but not a word was mentioned in their website - which made me wonder why they have not hightlighted it. I will certainly check with Kotak as you suggested.Sorry to hear that Hyd managers misled you.

Xienes1: Hmm.. not having a pre order is a handicap- as you cant be watching the terminal for the entire trading durations and sometimes the low prices occur only for a few minutes - so I am surprised why IB has not thought of that feature when ICICI has provided it.

Regards
Arun

 

[chetanbang]

Do some searching on Zerodha too.
You can't do Tape Reading , there is no Time and Sales windows. If you want to use that to time your entry and exit, look somewhere else.

Any trading terminal capable of this in india?

 

[xienes1]

Xienes1: Hmm.. not having a pre order is a handicap- as you cant be watching the terminal for the entire trading durations and sometimes the low prices occur only for a few minutes - so I am surprised why IB has not thought of that feature when ICICI has provided it.

You can put order for the whold day when markets open. You don't have to sit and watch whole day.
But you can't put orders in the evening for next day.
Do confirm this from indiabulls , I might be missing something , but probably it is this way only.

 

[xienes1]

Any trading terminal capable of this in india?

I don't know. I haven't used any other one.
The intraday charts in tick mode can be used as an alternative, but I don't find it that much comfortable when comparing to the time and sales window with different colour coding for uptick and downtick. (I have only seen in tutorial videos,never really on a live terminal)

 

[niteshgaba]

I Totally Agree India Bulls doesnot worth a try.

They have the most useless fellows. What they promise they never deliver.

I just need to ask one question:

Lets suppose the brokerage charge is 25p and i buy 900 shares for Birlapower @ 1.05P. What should be the brokerage charge as per my calculation it should be 2.25. Am i correct ot charge should be much more than this?

 

[shekarb]

hi this is shekar can u please mail me on [email protected]

 

[devil3112]

Hi guys,

Recently I have spoken to one from Indiabulls and asked him about brokerage charges. He said 0.02 paise but on both side in commodities. I mean on buying 0.02 & on selling 0.02. Total 0.04 for one trade. Is this fair? because afaik it should only be 0.02. Please clarify.

Thanks in advance.