ShareKhan Rs.6000 Advance Brokerage scheme - Feedback please

[oxusmorouz]

Hi,

Today I went to Sharekhan office to open an account and they offered me a package. I have to pay Rs.6000 as advance brokerage (valid for 1 year) and they would offer me .25% for delivery and .025% for Intraday until I cover this Rs.6000 as brokerage.

My brokerage at the end of the year would be greater than Rs.6000 and when I asked them what would happen if I trade beyond Rs.6000 as brokerage? they told it would be free!!!...

Has anyone used this package? People in my local branch here doesn't know much about this package.

Want to know the feedback from people here.

Thanks in advance,
Vairam

Ask them to write it in a paper and then sign it so that they can dabble promises in the future

 

[javednjaved]

surly u can negociate them

 

[baby_ka janu]

Hello Brother
I am using the same scheme.Let me help you.If you will join in that scheme you have to pay 0.25% brokerage for delivery(Buying and Selling).
For Intra day 0.05% brokerage (Only for Buying not for Selling).But this is not all there are other charges.
Let me give you an actual example.

Trade___________________________ 1 ____________ 2 __________________ 3 ______
. . . . . . . . . .Script_Name => Rohit Ferro Tech . . Rohit Ferro Tech . . Rohit Ferro Tech
. . . . . . . . . . . . .Quantity=> 25___________________25________________25_______
. . . . . . . . . . . . Avg.Rate=> 150.80 /-_____________160.75 /-__________152.80 /-__
. . . . . . . . . . . . . . .Total=> 3820 /-______________4018.75 /-_________3820 /-____
. . . . . . . . . . . .Brokerage=> 1.91 /-_______________0.00 /-___________9.55 /-_____
. . . . . . . . . . Service Tax=> 0.24 /-_______________0.02 /-___________1.16 /-_____
. Security Transaction Tax=> 0.00 /-_______________0.97 /-___________4.86 /-_____
. . . . . . . . . . Buying Date=>11-06-2008____________________________11-06-2008__
. . . . . . . . . . Selling Date=>_____________________11-06-2008___________________ .
. . . . . . . . . . .Order Time=> 10:30 . . . . . . . . . . 12:45 . . . . . . . . .14:30 . . . . . . . . .
____________________________________________________________________________
________________Total _=> 3822.15 ______________4017.76 __________3835.57 ____


Here Trade 1 and 2 is an intra day ,So brokerage is 0.05%,Service Tax 12.36%Security Transaction Tax is 0.025%.
But at the same time in Trade 3 is delivery ,So brokerage is 0.25%,Service Tax 12.36%Security Transaction Tax is 0.125%.

And in final amount of that day they will add (Education Cess + Higher Education Cess + Stamp Duty + Turnover Charges).That is according to these three trade 0.98 /- Rs.

If you are a high volume trader you can bargain your brokerage till .2% to .15%.
At present I am paying .195%(After high bargain because I am very high volume trader).
But for you .25% is best.Any Doubt then msg. me.
sorry for any mistake.

 

[apputtan]

Yes, I have tried this package. I was told that if the 6000 expires before one year period, I continue to get the same rate till I renew on completion. My one year period expires on 30th July 2008. I have exhausted the 6000 long back and continue to get the rate indicated.

 

[sanx]

Even ICICI have .05 % intraday FNO charges ?
Are all the brokers charges are more or less similar ? like 0.05 % for FNO ?

 

[Vairam.Ed]

Thanks for all the help guys. I couldn't get to the internet for all these days hence the late reply.

I just got the account activated and haven't yet traded with it. Will keep you guys posted with it.

Thanks,
Vairam.

 

[basudeo]

Hi,

If anyone can manage to trade through "Reliance Money"; nothing is cheaper than their annual 2500/- scheme.

Basudeo

 

[THETRADER]

Yes, Reliance Money is the cheapest. With Rs.2500 per annum scheme, the brokerage charges are :
Rs.0.01 brokerage + 12.36% Service tax, Educational Cess.
Rs.17/- per Nifty contract of 50, both buying & selling - Terminal software charges.

Rest are STT, stamp duty, turnover tax, sebi tax which are common to all. At just Rs.17/- per Nifty contract (both buy & sell put together) is unmatched by anyone.

But their software is probably the worst, but that does not mean others can fleece. I want this to be popularised as much as possible, so that other online brokerages reduce their brokerage too.

 

[THETRADER]

That is 0.0085%, yes, 0.0085%, and, literally no service tax & education cess, as the transaction charge is Rs.0.01 per transaction with Reliancemoney.

 

[larasachin]

religare race has scheme of advance 2500 and 15000 rs brokerage with decreasing rates for one year validity, no volume bindings