Confused - Sharekhan vs Icicidirect vs Hdfc vs Kotak vs Indiabulls vs 5paise

[tsk1979]

I am with kotak, I think their interface (KEAT and Fastlane) is pretty fast, though sometimes it happens that the site becomes overloaded

 

[gold_ranjit]

The truth is this:

IT IS COMMAN WITH EVERYONE..................AND NO ONE CAN HELP THIS....................THAT'S ANOTHER TRUTH................SO LETS USE THE BEST WE HAVE GOT.................CAUSE..............THAT'S ALL WE CAN DO..............THANX.............

 

[ajuliandavid]

Sir

I have traded in all the brokerage houses finally i have selected INDIABULLS is best they have both nse and bse

 

[gold_ranjit]

Hi Jaideep,

R u still with 5 paisa for your intraday how do u find it and what will you say about it any comments..............

 

[chakri]

hi i am using 5paisa traderterminal2005 its good and there are no monthly software charges u confirm it with 5 paisa.

 

[Aneeliyo]

hai friends,

Just wondering if anybody could share thoughts on geogit as I am stay outside india (NRI) and am very much interested in trading in indian shares.

Thanks in advance!

Anil Nair

 

[jaideep]

hi i am using 5paisa traderterminal2005 its good and there are no monthly software charges u confirm it with 5 paisa.

No monthly software charges?? Are you kidding?? I wish it were true. They have these schemes.......min Rs.1000 brokerage guaranteed per month.......min Rs.3000 brokerage guaranteed per quarter......min Rs.8000 or Rs.9000 brokerage guaranteed per year etc. This amount is deducted at the beginning of the period & brokerage for the period adjusted against this amount. Of course you are charged at actuals if you exceed the min brokerage.

I trade from Chennai. If you don't pay any software charges, please let me know. I'll take it up with the local 5paisa guys here in Chennai & get mine free too.

 

[jaideep]

Hi Jaideep,

R u still with 5 paisa for your intraday how do u find it and what will you say about it any comments..............

Hi! friend,
Yes, I'm still with 5paisa. In fact, just for the past month & a half. So far so good as they say. Brokerage is quite competetive. That's about all that I can say at the moment. Most times their TT5 software works OK. Order execution is OK but when there are hiccups, they're big ones. Their leverage for intra-day is acceptable. Their office/customer support is more or less Kindergarten standard. Mails go unanswered or responded to very stupidly. Their local office support, the less said the better. Raw recruits, absolute greenhorns man their offices here & make a mess of everything that they attempt to do. Can't blame them though, the management of 5paisa is to blame. Not that any other broker is great in all respects.

An example to explain:

Their TT5 software sometimes does not respond to commands & NET POSITIONS, ORDERS, TRADES etc. go hanging or un-refreshed. This misleads you, especially if you are trying to square off your intra-day position close to closing time. Sometimes this happens even 45 minutes before closing time. As a result you place a telephonic order which gets executed through their local NEAT terminal. If you are in a bad streak like I was on 2 occasions in just over a month of trading with 5paisa, the telephonic order is duplicated while the software order was actually executed but not reflected in the software at all. If all this happens just before closing time, imagine the tension that you have to undergo, especially if you have a SHORT order carried over for no fault of your's. You will have to wait for T+3 days to get your funds back for trading & you are meanwhile exposed to the Exchange auction rules & regulations and the vagaries of the markets.

You can only learn from your bad experiences & learn to live and adjust to the short-comings of your broker. That's the bottom line my friend. Name them and they are all the same, one way or the other.

Cheers and happy & safe trading gold_ranjit. Life is not only about trading the markets you know.

 

[gold_ranjit]

Hi Jaideep,

Thanx for a good response. The good thing about your article is the truth which you have explained in a nice way it can be useful for serious and good investors.....thanx....

 

[murthymsr]

hi everybody,

Thia is a very interesting thread, thanks to all those who contributed.
most of us are using only one broker. all we know is the good and bad about our broker. now after a few months after the first post, if we read the entire thread once again, it gives a good idea of the good and bad about each broker.

Please continue to post, even if you have voted/posted earlier.

And may be the the broker with the least 'bad' is the winner

murthymsr