Opening a Demat A/C and Trading A/C with IndiaBulls

[citrus]

Dears
I have account in both IB and RKG
First suggestion: Avoid RK Global outright, though their brokerage is very low. Their connection is miserable and service intolerable.
IB people do negotiate brokerage if your volume is high. My brokerage was reduced to half on the condition that I should trade at least one future per day. Their service is really good in Punjab, don't know much about other places. PIB is not free, you will have to pay one time charge and after wards it is free. I am using this software from last four years. IBulls have developed this software much in last few years and all the upgrades were free. With Indiabulls account you can opt for PIB or ODIN (probably for commodities), but PIB is preferable.
Regards

 

[vmonu]

Is it possible to tranfer money to trading account through any bank in Indiabulls?

 

[citrus]

Is it possible to tranfer money to trading account through any bank in Indiabulls?

Yes, I do regularly with HDFC bank account. When money is transferred to IB account it is instant. When withdrawn, it may take up to one week.
Regards.

 

[vmonu]

Is it possible through SBI?

I read in their site that it is possible through ICICI, HDFC, Axis and IDBI.

Do they allow transfer from any other banks apart from those 4?

 

[Mangafreakz]

Is it possible through SBI?

I read in their site that it is possible through ICICI, HDFC, Axis and IDBI.

Do they allow transfer from any other banks apart from those 4?

No , instant transfer is allowed only through those 4 banks. And yeah its true , withdrawing does take a lot of time.

 

[rohitnagdeo]

Hello everyone....


i want to open a demat and trading account ...and i have enquired with angel broking and indiabulls .

well indiabulls charges are on lower side....

1) .02% intra day and .2 for delivery

but he is chraging me 990 rs for the account opening and 750 rs for the software .the good thing is there is not AMC .

and they are charging Rs 10/- as the transection charge.... which they say....will be charged when you sell the delivery shares...regardless the quantity of shares.


so guys ...could you please tell me wht is transection charge.... and is it the case that all broking firms apply these charges.


please help me with the option i can have..... i have not yet finalied anyone....i am from pune....sometime it happens that ..location wise the reputation of broker varies....


Waiting for you guys to advice me...thanks!!!1



-Rohit.

 

[veluri1967]

Dear friends,
I have just received digital contract note from indiabulls.
different types of charges shown are "-

Brokerage 0.03%
Service Tax ( % I do not know)
Securities Trasanction Tax (% I do not know)
Stamp duty (% I do not know)
Other Charges (% and constituents I do not know)

But when I calculated as a percentage on total turnover it came to be around 0.0678% on one side. Both sides it is double of it naturally ie 0.135 approximately.

That means for every 1,00,000 worth of trade (both buy and sell on intraday trade) you have to shell out Rs.135/-.

That comes to 14 paise for every Rs.100 trade.

Suppose, if you want to trade in a share worth Rs.1,000/- on intraday, you should have a spread of Rs.1.40 ps so that the trade becomes breakeven. Anything less than that means you are blown out.

My observation is that out of 0.0678% brokerage, actual brokerage comes to around 0.03% as usual and suprisingly other charges also comes to around 0.02% which I do not understand. What are these other charges? How are they calculated? I learnt that Educational Cess and Ex-levy constitute only a very limited percentage. But how 0.02% is justified putting me in trouble.

Can anybody explain me how is it done?
I would be grateful to them.

 

[bpcwajid]

Dear friend

You go to any broker he will tell about the brokerage only. whatever charges you have mentioned are the charges approved by the NSE. So there is no change in those amounts wherever you go. I am appreciating your calculation and find out the breakeven for your investment. Best of luck

 

[startrade]

Yes, I do regularly with HDFC bank account. When money is transferred to IB account it is instant. When withdrawn, it may take up to one week.
Regards.

Don't you thing one week is too long? If you have HDFC bank account linked with your brokerage account then every other broker out there complete the withdrawal request on the next trading day.

 

[vmonu]

HI all

Is it necessary to have a minimum balance in margin account to start trading?
Does Indiabulls ask for a minimum deposit for opening a margin account? If so, how much?