Hello All
I opened a new account with SAS online today. I would like give feedback with following.
1. They are almost the cheapest in the industry. 9 per order or 999 per month is very attractive.
2. I did small analysis . two lots of Nifty (100 Buys and 100 sells) @ 6000 cost just Rs 140/- at SOS, trader smart online at Rs.152 , Zerodha 210.
3. I have shifted from sharekhan and I was at lowest end i.e. 0.01%.
4. SOS guys are very very responsive. All phone call were attended without delay.
5. Since I was new to NOW platform they gave me a demo and patiently answered my question. But still feel sharekhan trade tiger is the best.
6. Good staff knows the job well.
7. They are in broking industry since 1995. South Asian Stocks Ltd.
8. No pending compliant in NSE in 2012-13.
9. They are not offering MCX and plans to open soon around Dec but not sure.
10. Borkerage of Rs 9 or 0.01% (lower of them) will not be shown in Contract note but separately in finance ledger. All other charges(STT/Stamp/TO) are part of contract note.
11. Brokerage exactly as per brokerage calculator as shown on their site. No deviation.
12. They are not very active on traderji (like zerodha / TSO) primarily because they do not have MCX. This is what is biggest con.
13. The Demat is with ILFS. Surprisingly they have their own Demat too but just because of reach they prefer to ILFS.
14. Smooth opening of account. On first day I asked them to change my bank account and it was done in 2 hrs time and confirmation in evening.
15. Pay In from ICICI was done very smooth. Though I did not check the trading limit gets updated in on minute (as they say). They charge Rs 10/- for all Pay In's. I dont know why?
16. When I opened with Zerodha (though did not trade with them) they flooded my mail box with 10 mails etc.
After the sad demise of VPS I would say Zerodha (Higher end of cost structure) followed by SAS and Tradersmartonline(TSO) should be the option for any one opening the account. I have selected SAS and TSO just because being in registered members since 1995 , (age does matter and they have seen the capital life)
I would not like to go for anything very cheap as just being cheap increases the chances of shutting the shop.
I plan to visit them and meet them personally just to increase my confidence and how people behave.
Regards
av_30 ( SAS online a/c V..03)
SAS-Online has banned Intraday trading today