Indiabulls Cheating Me...Oh God

[techani]

Thank u Puvutal! Actually I was hurt and angry when I came to know that I am being charged more. Now with AW10 Bangerabs and ur advice I have calmed down and got hold of the situation.

Now can u plz answer me on the questions I asked in the above thread?
It will be a real help to me.
Thank u...

 

[trade4putuval]

Plz help me clear some of the things.
1. Brokerage for Intraday and cash is charged for both leg right? Or is it negotiable?

If you buy, there will be an intraday brokerage. If you sell, there will be another intraday brokerage. But when you look at the contract note, sometimes it shows both against one trade.
For delivery, the brokerages will be shown against the trade.

In other words, the charges defined by the brokerage firm is per trade (buy or sell), not the square-offed trade(buy and sell).

2. How is STT calculated?

It is calculated as a percentage of the brokerage. I am not sure how much. Can any senior members throw light on this?

3. Is the PIB good for the money they are charging? Or can i make do with softwares from third parties for free?

No idea. Senior members will have to answer this.

Rajiv

 

[trader.trends]

I have been using PIB for the past 5 years with no problems at all. It is perhaps one of the more robust platforms to trade from. We pay only a one time fee of around 900/- for the software. Brokerage normally is at .3 and .03% for each leg of trade in delivery and intra day respectively. Intra day margins of 8 times is given. Now they have introduced intra day margin for futures as well which is 2 times the money in your account.

As for STT and other charges, it is same at all brokers. Findvikas has made a template for all charges. You can download that and use.

The real money in the stock market is not made from savings on brokerage. So don't waste time scouting for lower and lower brokerages. Beyond a point it makes no sense. You have a good broker, a good platform with charting, now spend time learning about trading.

Good luck.

 

[techani]

@ Puvutal and Trends thanks for ur help. PIB now comes for rs.750 as i am told. So they have reduced the charges. So i will go with the PIB.
I am more or less done with reading the thread `Teach a man how to fish` now what should i read or do next? From where do i get the charts and softwares?

 

[RAVI1952]

Do not shift to Sharekhan. Sharekhan is a big cheat. They do not reply. Their accounting system is terrible, possibly designed to cheat customers. even if Limit statement show credit, you will find that you have been charged interest for delay in payment

I am complaining against them to NSE and also closing my account.

 

[pundit]

Hello all. I have a a/c with Indiabulls. While opening my a/c my rm had promised me that brokerage for equity will be .3% for delivery and .05% for intraday.

I only buy and sell in delivery trade adn did very few intraday trade as I dont know much.

I even did not know how to calculate the brokerages but learnt recently and also came to know other charges.

But to my utter surprise when i started checking the ecn recieved for previous trades I found that I am being charged .5% for delivery and .1% for intraday!!

Now is there anything that I can do about this?
Tomorrow I am going to meet the rm and tell him about this.
Plz advice me on how should I bargain with him.
If i am not satisfied then i think I will shift to ShareKhan.
Plz advice.

Dear ,
don't trust on sharekhan too, they have done just like this to me.
Now i don't trade with them, first try to bragain with Indiabulls and see where it goes actually indiabulls is having strong client base so they offer low lates in rare cases, also try out Aditya Birla Money and negotiate with them, u will definately get .03% and .3% for interaday and delivery, services are also good..

 

[aijaz159]

Hi Friends Im facing a problem with my broker thats Indiainfoline's Franchisee in mumbai the account was opened in Bahrain with their franchisee's representative. I am trying to shift my account from one franchisee to another franchisee in different city in India. Unfortunately the franchisee is not obliging me to transfer my account. I have some stocks and cash with this Mumbai Franchisee. Kindly advise me what I should do to change my franchisee from one city to another. Thanks in advance\ajaz.

 

[nac]

^ Better contact HO

 

[Logik]

@aijaz159
dood u need to mail to indiabulls helpdesk.
[email protected]

just tell them u wanna transfer ur accnt from this to this location.......they will do it surely.

 

[aspardeshi]

Bro, indiabulls do not allow transfer from one branch to another in their own company. i think this is their policy, i went one day to transfer account of myself for a very good tip giver in indiabull. but the senior manager refused to transfer from one branch to another. I do not know the reason. the best way out is to close the account and go for new one locally.

i do not know the case with others, but indiabulls is this way... :thumb: