Comparative Table of Brokerage Charges of selected brokerge firms.

[srisara]

haid,

NSE stipulates that a brokerage firm charge no more than 1.5% (excluding STT, others etc).

So, since NRI'S are fat ducks, most D.P's charge to the up side. Also, NRI's can only deal with Delivery Cash Segment Trades.

We end up paying a massive 3% of the Price to make a Buy & Sell Call.

The exchanges places so many restrictions on NRI's that it ultimately we are at a disadvantaged position compared to the Resident Indians.

Satya

 

[mohdbinhaid]

dear srisara,

thanks for u prompt reply...is it not possible to open a demat or a trading account here and then u can trade online..thus u need not be in NRI category and pay that extra brokerage charges...afterall internet has made inconsequential where u sit and trade!!

regards
mohammed bin haid

 

[srisara]

dear srisara,

thanks for u prompt reply...is it not possible to open a demat or a trading account here and then u can trade online..thus u need not be in NRI category and pay that extra brokerage charges...afterall internet has made inconsequential where u sit and trade!!

regards
mohammed bin haid

i canot open a resident demat a/c in my name. if we do and get caught, then whole live revolves around police and courts.

Satya

 

[mohdbinhaid]

dear satya ,

i am sure u must be aware that in order to open a DMAT a/c + Trading account u only need a PAN card and address proof in india..and if u have this then it makes u totally legal to trade from anywhere!!

The problem arise if u dont have a PAN card but then again u need identity proof and address proof to apply for it and u can get ur PAN within 10 days.i think this is the procedure wht is being followed here and most of the NRIs do this only and thus save a lot of amount on brokerage charges!

please correct me if i am wrong anywhere

regards,
mohammed bin haid

 

[srisara]

dear satya ,

i am sure u must be aware that in order to open a DMAT a/c + Trading account u only need a PAN card and address proof in india..and if u have this then it makes u totally legal to trade from anywhere!!

The problem arise if u dont have a PAN card but then again u need identity proof and address proof to apply for it and u can get ur PAN within 10 days.i think this is the procedure wht is being followed here and most of the NRIs do this only and thus save a lot of amount on brokerage charges!

please correct me if i am wrong anywhere

regards,
mohammed bin haid

I never said it can't be done. PAN is required for everyone or anyone who has income and has to submit income tax returns.

proof of address means, that you stay there. for NRI's, they need to submit their passport copy, with their visa page and country they live.

its the responsibility of both the customer and the Brokerage firm to legally comply. If they are voilating, then as usual they will land in Legal Problems.

ICICI was very strict in this regard. I dont know abt India Bulls.

I feel more than customer, its the Brokerge firm, who should be more strict and responsible.

Satya

 

[ram05]

mohdbinhaid

Using India Bulls

1. Can I short and hold it more than a day before I will cover it.
2. Is there Stop Loss order type.
3. Is there limit order type.
4. Can I put a stop order to buy at a price higher than the existing price of the scrip. Lets say, a scrip end of day price is 500. Can I put a buy stop order to buy the scrip for 550 next day.
5. Like I said on point 4, can I place orders after the end of current trading day, to execute the next day.
6. What banks do you accept to hold money.

 

[dilip2k]

what abt FNO brokerage ? and margins for options with IB?

 

[pranaviitkgp]

Hey mr mohdbinhaid,

I was charged Rs 1650 for a/c opening in Indiabulls (900 DMAT +750 PIB). Explain!!

My client id is 143390 and i have the reciept for the a/c opening charges.

Also the delayed fund transfer is a problem here.

I have to remind the client helpdesk and my RM to credit and debit money (after online transfer)

 

[pranaviitkgp]

Hey mr mohdbinhaid,

I was charged Rs 1650 for a/c opening in Indiabulls (900 DMAT +750 PIB). Explain!!

My client id is 143390 and i have the reciept for the a/c opening charges.

 

[mohdbinhaid]

Hey mr mohdbinhaid,

I was charged Rs 1650 for a/c opening in Indiabulls (900 DMAT +750 PIB). Explain!!

My client id is 143390 and i have the reciept for the a/c opening charges.

hi pranaviitkgp,

Yes earliar it was charged Rs 900 For opening a DMAT a/c (Rs 500) + Trading a/c (Rs 200) + Margin Funding (Rs 200). Now this has been reduced to Rs 500 and Rs 750 for the software.

regards
mohammed bin haid