Please suggest an online discount broker providing DP services

[bearish]

Hi everybody,

I am searching for an online broker who provides DP services as well. I generally buy stocks and ETFs for very long term. I need to utilize these stocks to get margin for trading short term in FNO. I am currently trading with Zerodha and they don't margin without pledging the stock. Pledging of stocks takes a lot of time, money and communication over e-mail for pledging and unpledging requests.

My earlier experience with Indiabulls was very nice with respect to getting additional margin for stocks in my DP account. As soon as I bought a stock for delivery I used to get margin even without the usual T+2 settlement. There were no charges/interest for this kind of margin from Indiabulls. Currently I don't trade with Indiabulls because of very high brokerage.

I will appreciate if people can suggest a broker that can provide the above mentioned service along with brokerage base on per order basis like Zerodha. Thanks

 

[DataRam]

Hi everybody,

I am searching for an online broker who provides DP services as well. I generally buy stocks and ETFs for very long term. I need to utilize these stocks to get margin for trading short term in FNO. I am currently trading with Zerodha and they don't margin without pledging the stock. Pledging of stocks takes a lot of time, money and communication over e-mail for pledging and unpledging requests.

My earlier experience with Indiabulls was very nice with respect to getting additional margin for stocks in my DP account. As soon as I bought a stock for delivery I used to get margin even without the usual T+2 settlement. There were no charges/interest for this kind of margin from Indiabulls. Currently I don't trade with Indiabulls because of very high brokerage.

I will appreciate if people can suggest a broker that can provide the above mentioned service along with brokerage base on per order basis like Zerodha. Thanks

Hi bearish ,

I suggest you to ask about this thing in Trade Smart Online thread here in traderji. TSO have their own DP and might be they will provide margin against the stocks in your Demat a/c without pledging. I am not sure that they will give the haircut directly or only after pledging.

Happy Trading !!! :thumb:

 

[soft_trader]

Hi bearish ,

I suggest you to ask about this thing in Trade Smart Online thread here in traderji. TSO have their own DP and might be they will provide margin against the stocks in your Demat a/c without pledging. I am not sure that they will give the haircut directly or only after pledging.

Happy Trading !!! :thumb:

Hi rocky,

As per my knowledge TSO doesn't provides any margin against shares without pledging. At least I am not getting that facility. I am holding some shares in DP.

 

[bearish]

Hi bearish ,

I suggest you to ask about this thing in Trade Smart Online thread here in traderji. TSO have their own DP and might be they will provide margin against the stocks in your Demat a/c without pledging. I am not sure that they will give the haircut directly or only after pledging.

Happy Trading !!! :thumb:

Thanks for a quick reply Rocky bhai!
I will see TSO's thread. Had a quick look at their brokerage calculator. They are charging flat 30rs on buy and sell transaction. But the problem is if the transaction value is small like in delivery trades, you still need to pay 30rs. The option like 30 or .01% which ever is less is not there. Anyway I will inquire about stock margin. Thank for info once again

 

[rythm.arora]

@bearish,

I think Compositedge has their own DP. You can check with them whether they provide security as margin also.

 

[bearish]

Hi rocky,

As per my knowledge TSO doesn't provides any margin against shares without pledging. At least I am not getting that facility. I am holding some shares in DP.

Thanks Softy, generally margin is provided on select large caps. For example, in Indiabulls it was on "A" group stocks only. Are you invested in large caps? Cheers

 

[bearish]

@bearish,

I think Compositedge has their own DP. You can check with them whether they provide security as margin also.

Thanks Rythm. Will check their website. Cheers

 

[soft_trader]

Thanks Softy, generally margin is provided on select large caps. For example, in Indiabulls it was on "A" group stocks only. Are you invested in large caps? Cheers

I have some largecap banks in my portfolio. Which is among the Nifty 50 stocks. It's a heavyweight in Nifty. Still not getting any margin.

 

[bearish]

I have some largecap banks in my portfolio. Which is among the Nifty 50 stocks. It's a heavyweight in Nifty. Still not getting any margin.

Thanks for clarifying soft trader Will check with them.

 

[DataRam]

Thanks for a quick reply Rocky bhai!
I will see TSO's thread. Had a quick look at their brokerage calculator. They are charging flat 30rs on buy and sell transaction. But the problem is if the transaction value is small like in delivery trades, you still need to pay 30rs. The option like 30 or .01% which ever is less is not there. Anyway I will inquire about stock margin. Thank for info once again

Today , I had a talk with a guy from Tata Capital. He told me that he will offer me very competitive brokerage and also margin against stocks held in their DP account.

After getting the list of Charges from him , I was wondering that what does he mean by competitive. The rates of brokerage and transaction charges are exorbitant.

On a prepaid account of Rs. 1,00,000 they are charging more than likes of Zerodha , RKSV , TSO , VPS ....