Discount Broker Comparison

[pokrate]

Can some one post summary of entire discussion ?

I am having account with sharekhan, can I go for Zerodha or stick to sharekhan only.

 

[tradejee]

I talked with WC person & asked to provide annual or longer plan like AB. They send following options
INR14999/- for life for NSE equity & Currency.
INR9999/- for 3 yrs NSE equity.
INR 6666/- for one year equity.
Like Alice Blue they are ready to provide INR 5555/-pa & INR 9999/- for life but transaction cost will be higher like AB.

 

[tradejee]

I think it is a positive as you are opening the account with AB.
Also lot of people using the the word sub-broker for WC which is not correct.
I have clarified here.
http://www.traderji.com/brokers-tra...iscount-broker-comparision-44.html#post905375
Some said that it is a master franchise if it is then we need to know the details of the agreement between AB and WC.
Who takes the liability in case of any issues.Those are grey areas and WC should clear the stand on their business model.

Thanx once again bpr for your valuable opinion.
During my conversation WC person confirmed they are master franchise of AB.
They emailed me forms of AB. I'm going through it word by word to find out what will be my contract with AB/WC.

My views are-
1. If AB is providing me trading facility through WC, they should be legally responsible if any problem occurs.

2. I am comparing WC/SAS/RKSV.
RKSV is old & less risky but pm charge is almost double.
Both SAS & WC are new & riskier but with WC I've to keep less money in my trading account for similar volume of trade because of greater leverage, hence less risk.
Trading platform of WC -NEST is also one attraction. But transaction cost is little bit (INR 30 per crore) higher.

 

[bpr]

Can some one post summary of entire discussion ?

I am having account with sharekhan, can I go for Zerodha or stick to sharekhan only.

please make your own decision all the information is in front of you.

 

[bpr]

Thanx once again bpr for your valuable opinion.
During my conversation WC person confirmed they are master franchise of AB.
They emailed me forms of AB. I'm going through it word by word to find out what will be my contract with AB/WC.

My views are-
1. If AB is providing me trading facility through WC, they should be legally responsible if any problem occurs.

2. I am comparing WC/SAS/RKSV.
RKSV is old & less risky but pm charge is almost double.
Both SAS & WC are new & riskier but with WC I've to keep less money in my trading account for similar volume of trade because of greater leverage, hence less risk.
Trading platform of WC -NEST is also one attraction. But transaction cost is little bit (INR 30 per crore) higher.

leverage is reduced to 3x from 5x for the default plan unless you have the pro plan leverage is no longer a factor.

 

[RavishReport]

Zerodha provies SL_M for buy option F and 0 i.e (You want to buy option when specific price is crossed).
Rksv doesn;t .. mad:

in Zerodha i use to pay 7K+ a month brokerage lol in rksv i am limited to 1958 for F & 0



I prefer keeping my hard earned cash in at least Registered in NSE Broker rather then going to Unregistered Sub-brokers
Here u are linked to Alice blu Via WC .. so in case WC does horrors in trade lol then u are in sinking ship made of paper. .. My thinking is wait and watch if they manage to survive like 2-3 years then one can go .usualy small broker die in less then a year.
Whenever i think of WC i remember VPS lol it was good while it lasted Not gone a make same mistake twice

Vps closed online segment tho it was registered i miss R.s 10 a lot lol
so let see if WC manages to stay or not Time will Tell

Registration is the main question here not the leverage & not the discount.

 

[Alibaba Alibaba]

....... Why most of the people comment on WC is because of their lowest brokerage plans with lowest transaction chargers. Most of the High brokerage collecting discount brokerage companies now fear of loosing their clients. That is why they spread bad comments about WC.

Can any one give one instance that brokerage firm closed without settling the clients fund.

Well said sir, I am worried about the Industry not about any particular Broker. Broking industry is undergoing its worst days. Now because of some negative marketing by SAS people it will affect investors/traders sentiments further

 

[RavishReport]

You missed important point Wisdom Capital is the only discount sub-broker Not Registered With NSE, Unregistered Sub-brokers can only provide more exposure as are out of regulation & such illegal offerings always ends costly.

Never deal with any unregistered broker.

 

[vaibhav05]

Can some one post summary of entire discussion ?

I am having account with sharekhan, can I go for Zerodha or stick to sharekhan only.

yes please provide the final conclusion which is best for equity day trader retail client

 

[tradejee]

yes please provide the final conclusion which is best for equity day trader retail client

This thread has entered in its 6th month & 572 posts old but still alive. Had it been so easy to give you correct single answer this thread would have been dead within couple of weeks, after 10-20 posts.

Start one thread - which one is brightest thing- answer will be candle, bulb, torch, moon, Sun. As soon as someone will answer Sun, thread will become dead.

Answer to your question must be customized for you and by yourself.

But let me share some of my knowledge. Seniors! please rectify if I'm wrong anywhere.
Answer will be like-
-Married, having kids and aging parents & single earning member of family- Bank F.D.
-Don't want to read this thread & want ready-made answer:eat:- Avoid trading & better opt for Mutual Fund.
-Has ample money to loss- Do trading without proper home work:lol:.

Now come to the point (Sorry) points-
Want to avoid anxiety, stress and want safety of money & facilities and ready for high brokerage- Opt for old Big brokerage houses.
Want to take little bit of risk and ready for little bit high (among low) brokerage- Zerodha.
Want algo trading support- Zerodha, Composite Edge.
Want good trading plateform- Zerodha, RKSV, Wisdom Capital.
Do trade rarely & low volume but want fixed monthly brokerage- Achiivers
Do hundreds of trade daily with high volume in each trade- RKSV
Do hundreds of trade daily with low volume in each trade- SAS
Do trade rarely but high volume in each trade (opt for per trade plan)- Composite Edge, TSO, SAS, WC
Have less money to invest & ready to earn big (loss big)- Wisdom Capital
Happy with RKSV but now want to avoid it - TSO
Happy with TSO but now want to avoid it - RKSV
Want to pay low per month (not lowest)- SAS, WC
Want to pay low per month (not lowest) & low transaction cost (not lowest)-SAS

What happened? Got confused? [Me too-Ha..Ha]

Like you I also came here for ready-made answer. But I got little bit of "Nirvana" :!after long "Tapasya" of reading all the posts of this thread, still little bit confused like you:console:

You do your "Tapasya" yourself and get "Nirvana" for you:rofl:

Which is best for me may not be for you and vice-verse.