Discount Broker Comparison

[sabhis]

Got it from Alice Blue

Introducing the One Year freedom plan of Rs.5555/-
(No additional Brokerage, No monthly fees, No maintenance charges, nothing)

Features:-
1) Unlimited trading on Commodities / Equities / currencies
2) Zero Brokerage
3) One time yearly fee of Rs.5555/-

 

[bpr]

Check their website for "Table of Charges" its already updated.

I do not track clearing charges separately instead I track everything under total transaction charge and so it is 350 per Cr and not 250/Cr.

This was clarified long back may be you did not go through my thread. This is another way to confuse traders.

 

[bpr]

Check the following link http://www.indiaprocon.com/proconadvantage.html

do they really charge different stamp duty for different state as mentioned in the link or a flat 200/Cr as per Maharastra

 

[bpr]

Got it from Alice Blue

Introducing the One Year freedom plan of Rs.5555/-
(No additional Brokerage, No monthly fees, No maintenance charges, nothing)

Features:-
1) Unlimited trading on Commodities / Equities / currencies
2) Zero Brokerage
3) One time yearly fee of Rs.5555/-

Looks very nice.
What about all other charges details such as transaction charge and stamp duty?Care to post?
I could not find anything from their website?
Why they are not advertising this plan in their site?
One important criteria for me is the broker should treat everybody the same regardless of how big or small the trader is. This shows transparency.
Also saves the trader for going individually and negotiating with the broker.
This trend was started by Zerodha too.

 

[oadidao]

do they really charge different stamp duty for different state as mentioned in the link or a flat 200/Cr as per Maharastra

No stamp duty charges for commodities other than gold and silver which are charged at 0.005%. I'm not sure about equities and for other states.

 

[oadidao]

Got it from Alice Blue

Introducing the One Year freedom plan of Rs.5555/-
(No additional Brokerage, No monthly fees, No maintenance charges, nothing)

Features:-
1) Unlimited trading on Commodities / Equities / currencies
2) Zero Brokerage
3) One time yearly fee of Rs.5555/-

Sounds too good. Can you provide more details on charges etc.

 

[SKU]

@BPR to open your eyes on reliability, some key points from thread Due Diligence.
Because of your blind comparision some traders might have suffered who opened account with VPS and now the Wisdom Capital is on the same path.

1- Physical address of the Registered Company:

This is very important mainly because you don't want to be trading with a company whose registered office does not exists. Multiple times you will find Registered offices to be small out of the way places.

In essence it helps form a more complete picture of the company.

2-Visit to Address:

This one is again to give a more complete picture of the company:

If I were to trust anyone with a Rs. I need to see where they are based and if they are actually present at the address given.

3-Years of Operation:

A company with years of operation behind it would have more of my trust as compared to a new start-up with possibly a six month background. This might be for higher quantity traders. If my account has: 1 crore at any point I would like to know my funds are safe. While this can never be ensured(eg. MF Global, PFGBest etc), I would rather turn over every stone rather than be stuck thinking I could have done more research.

4- Exchange membership No. & type of membership:

There are different type of memberships, I would like to trade with a certain type of member who can give me better access to the market than say a Trading member. Also this affects TO charges etc.

The willingness of a company to go in for a certain type of membership also shows the company's commitment and possibly growth(?) over the years.

5- List of Employees by city:

I will just give you an example:

Recently while trading with IIFL I had a position(big) in GOLD, I set a SL order. Somehow the order was changed and started executing ALUMINI instead of GOLD SL. The price went above SL, looking at huge losses. So I call up their trading desk and I am informed none of the Employees(for MCX) are in office(reasons given) and I would get an answer only in the morning.
Sent mail and am yet to get a reply.
Luckily market came back to my SL level and I closed the position after understanding whether that order was in the system or not, on my own.
Same order ID but different trade, strange does not cover it.

So to avoid such situations, get to know how many people are in the office and how things work.

Access to higher levels is a must.

---------------------------------------------

Even if you trade with a margin of 100 Rs. its your money and you should do as much Due Diligence as possible

Cheers

 

[balab]

Alice Blue / Wisdom Capital seem to have sorted out issues with the server. Past couple of weeks behaving well and I forget that I am not with Zerodha anymore. But contract note reminds me with the cheap brokerage

 

[bpr]

Alice Blue / Wisdom Capital seem to have sorted out issues with the server. Past couple of weeks behaving well and I forget that I am not with Zerodha anymore. But contract note reminds me with the cheap brokerage

Can you report the transaction charge and stamp duty?

 

[av_30]

Just fyi


I opened a new account with SAS online today. I would like give feedback with following.

1. They are almost the cheapest in the industry. 9 per order or 999 per month is very attractive.
2. I did small analysis . two lots of Nifty (100 Buys and 100 sells) @ 6000 cost just Rs 140/- at SOS, trader smart online at Rs.152 , Zerodha 210.
3. I have shifted from sharekhan and I was at lowest end i.e. 0.01%.
4. SOS guys are very very responsive. All phone call were attended without delay.
5. Since I was new to NOW platform they gave me a demo and patiently answered my question. But still feel sharekhan trade tiger is the best.
6. Good staff knows the job well.
7. They are in broking industry since 1995. South Asian Stocks Ltd.
8. No pending compliant in NSE in 2012-13.
9. They are not offering MCX and plans to open soon around Dec but not sure.
10. Borkerage of Rs 9 or 0.01% (lower of them) will not be shown in Contract note but separately in finance ledger. All other charges(STT/Stamp/TO) are part of contract note.
11. Brokerage exactly as per brokerage calculator as shown on their site. No deviation.
12. They are not very active on traderji (like zerodha / TSO) primarily because they do not have MCX. This is what is biggest con.
13. The Demat is with ILFS. Surprisingly they have their own Demat too but just because of reach they prefer to ILFS.
14. Smooth opening of account. On first day I asked them to change my bank account and it was done in 2 hrs time and confirmation in evening.
15. Pay In from ICICI was done very smooth. Though I did not check the trading limit gets updated in on minute (as they say). They charge Rs 10/- for all Pay In's. I dont know why?
16. When I opened with Zerodha (though did not trade with them) they flooded my mail box with 10 mails etc.


After the sad demise of VPS I would say Zerodha (Higher end of cost structure) followed by SAS and Tradersmartonline(TSO) should be the option for any one opening the account. I have selected SAS and TSO just because being in registered members since 1995 , (age does matter and they have seen the capital life)


I would not like to go for anything very cheap as just being cheap increases the chances of shutting the shop.

I plan to visit them and meet them personally just to increase my confidence and how people behave.