Discount Broker Comparison

[bpr]

Hi Bpr, saw the calculator. Its really good. But i must still say that leave stamp duty out or make an assumption that client is from Maharashtra. Then the calculator will be most accurate. Like i said stamp duty depends on client address and nothing to do with broker registered office address or branch office address. Its just that some brokers are following the law and some are not. But eventually all will. I read in previous posts that Zerodha has started charging for other states too and RKSV is also started charging for UP. Slowly more states will be added. Hence better to make an assumption in calculator for Stamp Duty.

On the highlighted part do you know when it will happen? 6 months? 12 months?
I am not sure how long you have been in this market but all brokers used to charge Maharashtra stamp duty regardless, except Zerodha, not so long ago.
Recently some brokers started charging based on different state.This is a very new phenomena and will take some time for everybody to embrace it.
For now stamp duty is very relevant when it comes to broker comparison. It will differ for everybody based on where the live and which broker they choose.

If you don't want to include stamp duty remove the 2 rows for stamp duty and be done with it. The calculation will still be valid.

 

[bpr]

Without delay SASOnline should charge stamp duty state wise to retain their edge.
RKSV after launching state wise stamp duty will regain top spot decisively from Zerodha for volume traders.

Interesting times ahead.

 

[gets]

Hi Bpr, Apart from brokerage, leverage is also very important for traders. I understand that different brokers have different policies for this. Also brokers may have different policy for Mark to market position square off. I just found that the way Zerodha calculates SPAN is very different from the way Trade Smart Online calculates SPAN. Zerodha SPAN is less then Trade Smart Online, but Zerodha is charging additional margin but Trade Smart not charging that. Now while i am quite clear on brokerage and charges (thanks to your calculator) i am totally confused on margins. You think you can develop some kind of calculator for comparing brokers for margins also and square off policies.

 

[munde_77]

Hi Bpr, Apart from brokerage, leverage is also very important for traders. I understand that different brokers have different policies for this. Also brokers may have different policy for Mark to market position square off. I just found that the way Zerodha calculates SPAN is very different from the way Trade Smart Online calculates SPAN. Zerodha SPAN is less then Trade Smart Online, but Zerodha is charging additional margin but Trade Smart not charging that. Now while i am quite clear on brokerage and charges (thanks to your calculator) i am totally confused on margins. You think you can develop some kind of calculator for comparing brokers for margins also and square off policies.

Lot of margin is required for selling options. In India After selling options margin is required for Hedging and Adjusting also

After much convincing about my trading style

My broker has excluded me from exposure margin after verifying my trades

So need 35 to 40 % less margin

 

[sumantra]

Reliability Comparison.

A lot of people demanded do reliability comparison now that I did I don't see any comments on that.

If you look at the RELIABILITY SHEET, there are some points to ponder.

Zerodha and RKSV company founded in 2010 and 2009 respectively.
Zerodha was first to market followed by RKSV.
Both company are pretty new and but they are founder of discount broking in India. What they did is they challenged the old system and they are successful.


Lets look at others
Years of Incorporation:
SASOnline -1995
TSO- 1995
Achieevers- 2009 (new)
Composite Edge - 1995
AsthaTrade - 2003
ActionFin -1992
Procon- 2006(aaprox)

So if you look at it all these new entrants are actually old folks who had different broking model are now trying to play catch up.

With the success of Zerodha and RKSV they realize their business model is no longer sustainable so they either had to adjust or perish.

In future we will see many more converting or closing their business.
It is gonna get uglier.

Can you supply me with the following information about zerodha and rksv--besiness development in the current year,increase/decrease in client base,profit/loss,viability in the market, etc.....

 

[gvrdaytrade]

hi all,

from 13-jan all brokers from india charging the stamp duty according to tamilnadu stamp duty for tamilnadu traders.. ( i read in rksv website)

thanks

 

[bpr]

Updated composite edge price reduction and their entry into MCX.

Download Discount Brokerage Calculator V2.3 below from my signature.

Now Composite edge comprehensively beats Zerodha.

In MCX also they are lesser than both Zerodha and RKSV.

Btw In my earlier post dated 21st dec 2013 I have mentioned there charges are high. Very good move.
http://www.traderji.com/brokers-tra...iscount-broker-comparision-51.html#post915854

 

[LondonVisitor]

Experience in opening account with CompositeEdige

Had a pleasant experience in opening account with CompositeEdge. After a phone call with them, they sent me an Excel spreadsheet asking account opening data and informed me of required documents. Their own account executive came to my office with all forms printed; collected my documents with my signature and a cheque for Rs400 (300 for account opening and Rs100 for demat). He promised the account will be opened in a day, excluding Saturday and Sunday. The form submission happened at 4pm on Friday. Today Monday I received bunch of emails with all account details - password, user manual, mobile trading link, SMS from CDSL, etc.. Their customer service was very polite and helpful for account opening. Will see how they will perform while operating the account.

One of the reasons I selected CompositeEdge is my want the broker to be in the same city I live in i.e. Bangalore. I understand Zerodha is also based in Bangalore. I kept the form ready for Zerodha but did not post it. In between I found CompositeEdge and chose them.

 

[RavishReport]

Updated composite edge price reduction and their entry into MCX.

Download Discount Brokerage Calculator V2.3 below from my signature.

Now Composite edge comprehensively beats Zerodha.

In MCX also they are lesser than both Zerodha and RKSV.

Btw In my earlier post dated 21st dec 2013 I have mentioned there charges are high. Very good move.
http://www.traderji.com/brokers-tra...iscount-broker-comparision-51.html#post915854

BPR who seems best based on reliability,Cost effectiveness & quality service for NSE and who is best for MCX.

 

[bpr]

BPR who seems best based on reliability,Cost effectiveness & quality service for NSE and who is best for MCX.

there is no single answer for this question depending on your requirement you have to choose which suits you best.

My preference as of now SAS,RKSV for nse and Procon,Composite Edge for MCX