Newbie needs help in deciding brokers & trading platform

[Oski]

Hi All,

I am new to the world of online trading and am currently trying to zero-in on a platform which should best suit my needs....which are:

1. Real-time status.
2. Lowest brokerage.
3. Trading on web based application as well as software.
4. No AMC.
5. [Very Important] No Hidden Charges.
(Please let me know if there is something else that I should look for)


Based on these criterias, I had evaluated Indiabulls, HDFCSec, Ventura and ShareKhan. From the quotes I received from them, I am listing the negatives that are putting me off:

Indiabulls - Highest brokerage (0.04% Delivery, 0.004% Intraday).
HDFCSec - No software (No AMC for me as I am a so called priveledged customer of HDFC bank ;-) ).
ShareKhan - AMC of Rs.400. The sales rep asked for Rs.5000 as margin money (which I am not sure what it was for) but also said that it was refundable!!!
Ventura - AMC of Rs.499.

Upto now, I am inclined towards Indiabulls and Ventura. Ventura seems exciting as well, as they have the lowest brokerage and that too only when you sell, the only caveat being that I had to pay rs5000 for the first year as advance brokerage. Plus, Ventura gives their software for free. I have not read many reviews on Ventura on the net therefore the dilemma.

Please let me know your thoughts on which platform I should go for or suggest any new ones that are better than the four I have checked so far. Your feedback is highly appreciated.

Cheers.

 

[Class]

Hi Oski,
I too am looking for a new broker. I spoke to Indiainfoline today and I'm going into see them on Saturday to open an account. It wasn't clear on the phone which is why I'm going in. They told me it was around 550 to open an account & dmat and from then on AMC was free on both for lifetime.

I had been told by members on this forum that I could get 0.02 for intraday and 10x exposure. They offered me 0.03 for intraday but said I could speak to them about lowering it dependent on volume.

The trading platform is supposed to be good, but I don't see that the real time charting is particularly good as it doesn't give previous day and has limited Technical indicators. I may be wrong which is why I want to see it at their place. I downloaded the manual from their website.

I had previously been informed a good solution is to sign up for Trade Tiger from ShareKhan and only use the charting for around 300 rupees per year. They also have an offer on that there is no fee for opening accounts until 30 Sept.

Let me know what you opt for. My decision is to 'suck it and see', meaning I'm going to try probably both ShareKhan and Indiainfoline and if they don't do what I want I'll change. Perhaps it will be worth the investment of a couple of thousand rupees to get to the best broker to suit.

All the best.

 

[pankaj awasthi]

hey guys,
not to confuse ne of you, but incase you are looking out for trading platforms n deciding on brokers den i guess you should definitely have a look at some of the present best online share trading platforms such as Sharekhan, Angel Broking, Icici direct n all......teh brokerage rates of angel would benefit you and its much systematic. also sharekhan n icici......

 

[amanfree]

can any one tells which brokerage firms asks for least amount of margins for shorting options?

 

[tamerk]

Im in singapore thinking to move to india to trade in the markets there. Does anyone have any input on what firms to go interview with? Are there any real good prop shops in Mumbai. Has anyone heard of raptor trading group. What are the best markets to trade, how much are commissions, how much is a nice apartment to rent? i anyone doing arbitrage? Does anyone want to team up, I have $50,000 US dollars to invest if there are other traders or programs that want to start an office or a team.

Kindly,

Tamerk

 

[tamerk]

I am new also and have been asking for direction. The only firm I heard about was raptor trading group dot com. Please let me know if you hear anything about them.

kindly

 

[Class]

Hi Tamerk,
Most of your questions were answered in the previous posts. i.e. ICICI Direct, Angel Broking, IndiaBulls, IndiaInfoline, Sharekhan etc etc. I haven't heard of Raptor.

There are specific discussions on Traderji which discuss specific brokers. You'll need to do a search or try this link to start http://www.traderji.com/beginners-guide/9373-new-members-please-read.html

Sounds like a good idea to pool resources in an office environment but I'm no where near Mumbai. Did this about 10 years ago and it was a great experience. 4 people focused on trading is better than 1 and it is great to have other people around during the trading day. Good luck with that.

All the best.

 

[tamerk]

Thx.

What mkts do you trade. I have always traded futures, what futures mkts would u recommend in India to trade. Are there any markets that u have discovered have strong coorelations and are suitable for arbitrage?

kindly,

Tamerk