Discount Broker Comparison

[bikashkumar11]

I live in gurgaon my work place is near that building In NINEX. ISPAZE sohna road is near my place I can pay them a visit. IF you guys want..in fact i am looking for a broke with one time limited brokerage for unlimited trading. if wc can keep the promise then they will do great business.thanks.

 

[av_30]

I live in gurgaon my work place is near that building In NINEX. ISPAZE sohna road is near my place I can pay them a visit. IF you guys want..in fact i am looking for a broke with one time limited brokerage for unlimited trading. if wc can keep the promise then they will do great business.thanks.

It will real value IF you visit and give the report. But anyway I also live on Sohna too. but there are many better broker like Zerodha / TSO / SOS.

 

[AFORASTRO]

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.

bhaiya ji account to hum bhi khulwane ja rahe hain par NSE ki website me inke khilaf koi complaints nahi hai ek bhi .......etuu si bhi nahi........why??????????
broker babu ache hain par kiya hum akaal ke kache hain???(sorry rhyme baan raha tha ruka nahi gaya)

 

[AFORASTRO]

par jo bhi hai they are good option nowwwwwww......lets see will clear many things tomorrow .........

 

[bpr]

@WCPL

According to NSE website the sub-broker definition.

A ‘Sub-Broker’ is any person who is not a Trading Member of a Stock Exchange but who acts on behalf of a Trading Member as an agent or otherwise for assisting investors in dealing in securities through such Trading Members.

All Sub-Brokers are required to obtain a Certificate of Registration from SEBI without which they are not permitted to deal in securities. SEBI has directed that no Trading Member shall deal with a person who is acting as a Sub-Broker unless he is registered with SEBI and it shall be the responsibility of the Trading Member to ensure that his clients are not acting in the capacity of a Sub-Broker unless they are registered with SEBI as a Sub-Broker.



So Are you guys already registered with SEBI?
If yes can you share the registration number as I could not find it in your website?

Ok to further my post I could not find any registration details of WC in SEBI.
Neither I can find any registration details as subbroker in NSE or MCX.
Also did not find any details as authorized person for Alice blue on NSE and MCX?
So they are not legally subbroker for sure.
On further digging all the forms that they have are from Alice blue also the flat brokerage form is addressed to Alice blue.
So my conclusion is they are just agents who forward clients in return of bonus/commission from Alice blue.
All traders who opens account with WC are technically opening account at Alice blue and not WC. WC as a agent will be getting a portion of the brokerage generated by the trader as commission from Aliceblue.And the trader would be getting a discount plan which is not available if they directly go to AliceBlue.

Until these doubts/questions are clarified I will remove them from the calculator.I have no problems comparing sub-broker to broker as I have already clarified earlier.But I will be removing mainly because they are representing themselves as a sub broker which they are not.

if my above analysis is correct, WC will gain if they will come clean on their status/business model rather than posing as sub-broker.On the other hand if AliceBlue launches some equivalent plans then nobody will go to WC.

 

[bpr]

Download Version 2.2 below

-Removed WC
-Added Procon for Commodity only.
-Updated Reliability page

 

[cooljai]

bpr, Even I called Alice Blue yesterday and they confirmed that they have the 5555 plan.
Sent them a mail for the detailed charges, but no reply yet.
Can we have them also included in the comparison?

 

[bikashkumar11]

Ok to further my post I could not find any registration details of WC in SEBI.
Neither I can find any registration details as subbroker in NSE or MCX.
Also did not find any details as authorized person for Alice blue on NSE and MCX?
So they are not legally subbroker for sure.
On further digging all the forms that they have are from Alice blue also the flat brokerage form is addressed to Alice blue.
So my conclusion is they are just agents who forward clients in return of bonus/commission from Alice blue.
All traders who opens account with WC are technically opening account at Alice blue and not WC. WC as a agent will be getting a portion of the brokerage generated by the trader as commission from Aliceblue.And the trader would be getting a discount plan which is not available if they directly go to AliceBlue.

Until these doubts/questions are clarified I will remove them from the calculator.I have no problems comparing sub-broker to broker as I have already clarified earlier.But I will be removing mainly because they are representing themselves as a sub broker which they are not.

if my above analysis is correct, WC will gain if they will come clean on their status/business model rather than posing as sub-broker.On the other hand if AliceBlue launches some equivalent plans then nobody will go to WC.

Dear wisdom Capital

you must answer this post. appropriate answer to this post would be very fair to show your genuineness that will win the confidence of your potential customer. I am sure i would be your customer. Mr. Chabra your answer will be fitting reply to SKU's apprehension.
Thanks

 

[bpr]

bpr, Even I called Alice Blue yesterday and they confirmed that they have the 5555 plan.
Sent them a mail for the detailed charges, but no reply yet.
Can we have them also included in the comparison?

Yes that will be a great plan and I can include them.
But they need to put that in their website.
Also I will need all the other charges for that plan.

 

[sabhis]

I talked with them and what they sent me is a model contract notes of MCX. It is not of NSE. but I do not know how to upload them. Another broker is Action financial and it is at there website https://www.actionfin.com/Product-Services.aspx. Here it is compulsory to have demat with them. In the meantime I talked with Globe capital; the firm that is offering demat service tothe clients of VPS share company and Alice Blue. It is there website http://www.globecapital.com/. Their Kolkata office told me that they will offere same brokerage as I was getting from VPS shares. They are offering both trading platform : Odin and NOW