Way of treating-India Infoline

[alroyraj]

minimum brokerage is 5 paise in IIFL.......so 1250 is brokerage ....ok...

dear ravi thanks but minimum brokerage on what? my total share value is 5000rs.then according to normal 0.50 paise rate it becomes 25 rs. and not 1250rs. isnt it?

0.05 Rs or 5 paisa per share. This is there in all the brokerages,though no one informs in advance. yes it is quasi-legal. You cannot complain.

 

[munde_77]

Myself Harpreet Singh from PUNJAB.IIL sub-broker is charging me the brokerage 0.04% intra-day n 0.4% Delivery base.My average total turnover is near about 25-30 Lacs.So,if i'll book amount for intraday is 1200 1300 + Govt' taxes i.e, equal to the brokerage is 0.4 to 0.5%.1 day i have booked 23-2400/- n you know i got loss near about 700/-.what the hell is that?
Brokers are applying their own charges,that must be considered for a customer n must be as less as it can be.
Now i've changed my account to Ventura,N i've to transfer my shares.
So I called Ventura to know the procedure they told that you have your "Welcome kit"? i said no n i'll ask for this to my sub broker of IIL.So when i called my sub broker ha said he've that kit n he is giving me after 9 months after opening of my account.So thats the services "IIL" is provding...???

Secondly, Please tell me the procedure how to transfer the shares to ventura now?

Regards,
Harpreet Singh

My brokerage in IIFL is Rs 12 per lot on options and .005% on futures

I have no idea of intra day as I don`t trade in cash and intraday.

 

[absolute.zero]

dear ravi thanks but minimum brokerage on what? my total share value is 5000rs.then according to normal 0.50 paise rate it becomes 25 rs. and not 1250rs. isnt it?

You bought 25000 shares, and @ 5 paisa per share (minimum brokerage) you were charged Rs 1250.

 

[absolute.zero]

In a competitive scenario of today, where brokers like RKG and Zerodha are charging Zero brokerage (with some monthly commitment), and RKG is offering Rs 9 per lot in Option segment, with Zerodha one may get Rs 20 per trade (irrespective of number of lots), myself is being charged @ Rs 140 per lot in Options and 2 paisa / 100 Rs as brokearge (other charges extra) by IIFL. This is really pretty costlier. I am too planning to close my account with IIFL and I will switch to either RKG or Zerodha.
I have sent my final email of negotiations to IIFL RM, and I will wait for the response till Friday, 7th Jan 2011, and then I will proceed accordingly.

 

[absolute.zero]

In this forum, I read some members are being charged @ Rs 12 per lot in Option segment & 0.005% (0.5 paisa / Rs 100) in Futures by IIFL, then why not me??

 

[TraderRavi]

IIFL charges me .03% intraday and futures,which is ok...but 1 % of premium in options...which is toooo much...:annoyed:...I mostly trade with RKG.....

 

[alroyraj]

In this forum, I read some members are being charged @ Rs 12 per lot in Option segment & 0.005% (0.5 paisa / Rs 100) in Futures by IIFL, then why not me??

No logic to it. Some traders have traded crores in the beginning or opened an account with a margin of atleast 10-25 lakh and traded actively for a year or so to avail this. Besides it depends on the location ,RM etc. Not all brokers behave similarly.

 

[absolute.zero]

No logic to it. Some traders have traded crores in the beginning or opened an account with a margin of atleast 10-25 lakh and traded actively for a year or so to avail this. Besides it depends on the location ,RM etc. Not all brokers behave similarly.

@alroyraj

Yeah, exactly !
Thats why I said "why not me".
I too gave them T/O in Crores, even 2 Crs / day.
Still, they didn't offer me reduced brokerage despite negotiations.
I think.........lack of knowledge on my part. I knew many concepts here in this FORUM.
And, I hope I will deal good NOW.

 

[alroyraj]

@alroyraj

Yeah, exactly !
Thats why I said "why not me".
I too gave them T/O in Crores, even 2 Crs / day.
Still, they didn't offer me reduced brokerage despite negotiations.
I think.........lack of knowledge on my part. I knew many concepts here in this FORUM.
And, I hope I will deal good NOW.

Thats why I said it depends from broker to broker. Also you can visit any branch of any broker and get a better rate some like Angel actually listen others like Sharekhan,Indiabulls, HDFC,ICICI ,Edelweiss may not.
The norm is to negotiate before you open a new account which in turn means by and large you need to open a new account to avail it.
Which is why some say smaller broker would welcome you with open arms.
Depends who is more desperate.
You need to have a good RM first then a good rapport with him. Believe me this you can come to know in one face to face meeting itself.

 

[prktrade]

Its 5 paise per share minimum or 0.75% on penny stocks whichever is higher as per their documents.