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

[Satish_CN]

The trump super plan seems the best for now. I was comparing all the plans in an excel sheet to find the lowest brokerage for a given trading volume. If you tell me what kind of trading and how much of it are you planning on doing I can post some of the results. It is a big mess of a sheet.

T2T segment is specified by the exchange but I dont understand why the brokerage calculation is seperate because it would be counted under delivery.

Seem Angelbroking also provides the same software with the same features, AMO should also be available. Brokerage and cu service seems to be good and they don't have upfront brokerage and it can be negotiated not like religare which has fixed plans. It would be good to take a look.

AMO seems to be a issue with NSE I think because my broker Motilal Oswal had taken it off for "technical upgradation" and started working this week. It is not absolutely necessary but is good to have. Specially with delivery trade because say a stock breaks out of a resistance (ABAN recently at 500) the next day it will gap up and runaway. In such a case the best way to catch a bottom would be to place a AMO which hit the exchange the first thing next morning and is sure the fetch to a price close to the scrips closing price (depending on your limit price).

BTW, SEBI has said that they would start rating brokerages soon. It time they get their act together. The ones that don't get good ratings are sure to lose not just good customers but may also see a switch.

Many Thanks for a most lucid analysis. I see you have a very clear mind even past midnight!

I am more comfortable with technicals based short term trading. A couple of ventures deservedly-proved to me that day trading is too hot a cup of tea for me. I will get back to it once I am better prepared. Meanwhile could you please suggest me some plans for

a) Delivery based trading - with short term volumes of 2-4 lakhs per week max.
b) Options trading - Nifty 1 lot per day (B&S) (I'll get there eventually)

Yes, the Angel demo too shows the same features as the Religare. I'll shoot them a mail and check. Can't call them for a demo now...off on vacations.

Sharekhan does not allow limit orders in AMO, at least with the Classic account. I do not know about other plans/ brokers.

Looking forward to SEBI's ratings... One thing I am sure is that Sharekhan will have to clean up its act!

S

 

[Sunny1]

T
BTW, SEBI has said that they would start rating brokerages soon. It time they get their act together. The ones that don't get good ratings are sure to lose not just good customers but may also see a switch.

If SEBI start rating brokerage houses than REliance Money is going to be place at No. 1 simply because they have more money to bribe SEBI

 

[rag_bh]

Got call from this week back

https://www.arthamoney.com/arthaMoney/index

They are offering 1 paisa brokerage with initial payment of 5k.
Need to check more on exe based s/w

 

[amitkulka]

Brokerage Structure of HDFC Bank attached here
I got it from their customer care when i called them for charges

Regds,
A

 

[Satish_CN]

Brokerage Structure of HDFC Bank attached here
I got it from their customer care when i called them for charges

Regds,
A

Hi Amit,
A bit steep isn't it.
I'd rather stick to regular brokers than the also-brokers.

S

 

[Satish_CN]

...

T2T segment is specified by the exchange but I dont understand why the brokerage calculation is seperate because it would be counted under delivery.

....

AMO seems to be a issue with NSE I think because my broker Motilal Oswal had taken it off for "technical upgradation" and started working this week. ....

Had a longish chat with the Religare people today. The sales rep was not sure of T2T, referred me to another one, who took a break to checkup and call back... Yet not clear!! Their explanation is that the T2T are selected shares that are hard to find and hard to sell, so you have to wait till they reflect in your account (the typical 3 days or so) before you can sell them, whereas the 'delivery' ones can be sold off the next day. But they still could not clarify - why differentiate them into separate slots of 10k limits each. The cynical me smells a trick - while 40k limit overall sounds better than 10k, few would go for T2T preferring the non-T2T delivery trades, and thus higher chances of people exceeding the limits on them.

As for the AMO, apparently some customers had complained of delayed execution of the orders, the result of a technical glitch in ODIN "affecting most brokers, and not Religare alone. It has been taken off temporarily, and should be back in a month or so."

And to complete the list. Something I had raised in a separate thread..."The Religare trading program is Sun Java based, and hence will work on Mac as well". Lets c

S

 

[pritam1232007]

Dear Sunandoghosh,
I am using India bulls trading facility. I find it is very easy to handle the interface and the brokerage is also very competitive. Their interface which runs on Java is very fast even in slow connections also. If you want any other information regarding Indiabulls you can ask me.
Thank you
gvnarendra

YA U ARE RIGHT BUT BROKERAGE IS NOT GOOD AS COMPARED TO RELIANCE MONEY AND SHAREKHAN.. BUT ONE MORE GOOD THING ABOUT INDIA BULL IS THEY ARE GIVING 10 TIMES EXPOSURE:clapping:..WHERE OTHERS WERE GIVING ONLY 5 TIMES

 

[lazytrader]

Many Thanks for a most lucid analysis. I see you have a very clear mind even past midnight!

I am more comfortable with technicals based short term trading. A couple of ventures deservedly-proved to me that day trading is too hot a cup of tea for me. I will get back to it once I am better prepared. Meanwhile could you please suggest me some plans for

a) Delivery based trading - with short term volumes of 2-4 lakhs per week max.
b) Options trading - Nifty 1 lot per day (B&S) (I'll get there eventually)

Yes, the Angel demo too shows the same features as the Religare. I'll shoot them a mail and check. Can't call them for a demo now...off on vacations.

Sharekhan does not allow limit orders in AMO, at least with the Classic account. I do not know about other plans/ brokers.

Looking forward to SEBI's ratings... One thing I am sure is that Sharekhan will have to clean up its act!

S

Hi Satish,

Could reply earlier because rains diruputed power.

a) For delivery based trading if you don't plan on trading more than 20k/day (Buying + Selling Delivery stock) then I would suggest the Freedom plan itself because the plan charges of 4000/yr works out to 333.33/month without additional brokerage. Although the STT, transaction, service taxes (should be about Rs.34/month from this yr onwards for this plan) and stamp duties are extra they would most probably be under 0.015%. So you would be looking at very low charges for 20k or less of trading/day.

For comparision purposes lets take the Trump Super with .15% del brokerage: That would work out to Rs.15 per Rs.10,000 for del trade. Now if you were to trade 20k/day everyday you would have to pay Rs.660/month for just brokerage (22 trading day/month). That would cost you Rs.8000/yr which is less than the plan charges of Rs.150000/yr. So you would end up paying twice the brokerage since 15k/yr reversible brokeage has to be paid regardless. Ineffect per trade basis you are pay double the brokerage of .15% that .3% which is the brokerage for the Feedom Plan!!! And with the freedom plan you pay Rs.4000/yr as opposed to Rs15k/yr with Trump Super. All taxes except service tax are levied on volume and service tax on brokerage so you would have to shell out over rs.1500 for the trump plan which it would be rs.400 for the Freedom.

Now if you were to trade over 20k/day then things would be a little different. Since estimating ones trading volume is not easy we'll try find out the volume required for the Trump Super to be profitable. Since the brokerage on Freedom Plan is twice than on Trump Super over 20k/day would cost a lot. If you plan on trading over 40k/day del then the brokerage charges on Trump Super would turn out to be lower than Freedom plan since with the freedom plan the 4000/yr brokerage is not reversible.

The reason I to 20k/day into the calculation is because you buy 10k work from NSE and 10k worth from BSE to get the free brokerage benefit. Although you have to 10k free limit on T2T as well I doubt you would buy into such stocks.

Another thing you may want to note is that with the Trump Super a total trading volume of 1crore would generate a brokerage of 15,000. Which is not a lot if you have a large capital and trade often.

b) As for Nifty options: I don't think you can buy and sell them on the same day. I'm not sure about it. I think Nifty being an index, index options are supposed to be europeon style that have to be held till expiry. I am not sure about it. I think you can do that with stock options only (american options as their called)

 

[lazytrader]

Had a longish chat with the Religare people today. The sales rep was not sure of T2T, referred me to another one, who took a break to checkup and call back... Yet not clear!! Their explanation is that the T2T are selected shares that are hard to find and hard to sell, so you have to wait till they reflect in your account (the typical 3 days or so) before you can sell them, whereas the 'delivery' ones can be sold off the next day. But they still could not clarify - why differentiate them into separate slots of 10k limits each. The cynical me smells a trick - while 40k limit overall sounds better than 10k, few would go for T2T preferring the non-T2T delivery trades, and thus higher chances of people exceeding the limits on them.

As for the AMO, apparently some customers had complained of delayed execution of the orders, the result of a technical glitch in ODIN "affecting most brokers, and not Religare alone. It has been taken off temporarily, and should be back in a month or so."

And to complete the list. Something I had raised in a separate thread..."The Religare trading program is Sun Java based, and hence will work on Mac as well". Lets c

S

ODIN doesn't require java or so I thiink. It must be a window application, should for you with VM Fusion if you have it.

 

[lazytrader]

If SEBI start rating brokerage houses than REliance Money is going to be place at No. 1 simply because they have more money to bribe SEBI

No one can deny it.