Discount Broker Comparison

[SKU]

Hi ppr,

i mailed wisdom few days back mentioning that there Rs 7 per lot caculator is not working.Also told them that there is no support mail id on the website.
I got a reply with "thanks for the suggestion ":lol:They put the mail id under contact us but calculator is still not working.
Then i mailed for the file for stamp duty and other charges .
No reply till date.
Same is the case with alice blue .
Customer support num doesn't work and no reply to mails.:annoyed:
They also provide intraday margin with .005% brokerage plan.

I don't think service of these ppl are even half of what zerodha,rksv,vps ,tso are providing.
these ppl don't even reply to ur mails forget about opening and running a thread on TJ.
Procon replied and they have a little tweak to their brokerage plans which nobody knows.
Its as follows.

You can pm the owner from below link.

http://www.traderji.com/general-trading-investing-chat/27425-hi-guys.html

 

[angdbani]

Please accept my sincere apologies you contact our customer care desk at 18001031055 or you contact virender on 7838291444. We will compensate this in the form of discounts. MD. bezel

 

[bpr]

Please accept my sincere apologies you contact our customer care desk at 18001031055 or you contact virender on 7838291444. We will compensate this in the form of discounts. MD. bezel

I did not understand What is this apology for?
Btw if you are from Bezel.
Please share details about your unlimited plan.
Why unlimited plan is not advertised on your site?
When are you planning to have your brokerage calculator on your site?

 

[bpr]

I will remove BMA wealth creator from my list
because of this
http://www.traderji.com/brokers-trading-platforms/88868-broker-alert-2.html#post849355

 

[bpr]

You can pm the owner from below link.

http://www.traderji.com/general-trading-investing-chat/27425-hi-guys.html

He is not active anymore.
It makes it more strange, because he is very familiar with traderji and the importance of it for a new broker, unlike other new brokers who may or may not be. It is very odd for him to not have a thread here.
May be they are not ready yet.
I will wait for them rather than run into them in a hurry.
It takes two hands to clap.

 

[bpr]

Download V1.10
Discount Broker Charges Comparison v1.10.xlsx

Added Astha trade.

positive:
> One good thing is they have their own dp and has a option to pay 1000 lifetime DP account charges.
> Another advantage is they provide slightly lower margin req. than the competition.The margin field needs to be read properly and I have a added a legend to avoid confusion.

Negative
> they provide ODIN.
> Also none of the links of back office link opened for me tried both in IE and Chrome.
> Their transaction charge is very high compared to the competition.
> In their site Brokerage calculator is missing for NSE CASH Delivery, NSE cash INTRADAY, NSE option and Currency Option.

Still I don't have a lot of data. Provide if you have it.

 

[angdbani]

we do not have an unlimited plan. but feel free to contact our customer care desk.

 

[bpr]

we do not have an unlimited plan. but feel free to contact our customer care desk.

May be somebody else posted this using ur id?

http://www.traderji.com/commodities/36418-lowest-brokerage-commodities-6.html#post513648

:lol:

 

[bpr]

Any Idea about ACTION ? 1 PAISE / ORDER (but, a big bug is the deposit of money)

https://www.actionfin.com/Index.aspx

deposit money red flag

Initially I did not like them or their model which requires deposit money.
But I am going to give them a fair shot in comparison.
I will consider their Platinum Plan which is equivalent of unlimited trading plan.

 

[bpr]

Download V2.0
Discount Broker Charges Comparison v2.0.xlsx


Added Action Financial

For platinum plan you have to pay 50k deposit.
Plus trading account has a AMC of 1200 which gives unlimited turnover.
plus 1 paise per order brokerage.
DP account is mandatory and no AMC charges.
Account and DP account opening charge is nil.
They have their own DP(NSDL).
Don't have info how much intraday exposure they provide for futures?
They provide NOW platform.

so (taking 9% percent interest of 50000 +1200 plus service tax )divide by 12 = 487 per month
Effectively we are giving this much to the broker per month.
Based on that I have done the calculation.
With this they became the lowest monthly charge discount broker but they do charge 1 p per order above that so technically no.

Futures turnover charge 290 per/Cr
options turnover charge 8989 per/Cr
Currency futures turnover charge 214 per/Cr
Currency Option turnover charge 10337/Cr

Their turnover charges are not the lowest but somewhat competitive, much better than AsthaTrade at least.
Note The per month cost covers for both NSE/NFO and currency plan so difficult to compare with others.
Overall they score well(become no#1) from low to medium volume trader eventually they loose to other brokers with lower transaction charge than them with increase in volume.

I have added them so everybody can see where they stand.

BUT
The main risk is safety of deposit money. It is most likely they are not going keep the 50k deposit money in bank rather use for their own trading. Who gives guarantee if they loose that money? Until then bye bye
This has been discussed in couple of other threads here too.

Let me know if you find issue/error with data or calculation.