Which Online Trading Should I Go For?

Question

Hi

I am new to all these markets and looking to start with it.

I wanted to go for an Online Trading Company like India Bulls, Sharekhan etc.

I aim for being both a Long Term Investor in 2-3 Shares, and do regular Intra-Day Trading

I have seen India Bulls Charting system and found them to be good but don't know what are their Broker Charges, Account Opening Charges?

Answer 1

most big reputed on line trading service providers like sharkhan,hdfc bank icici direct are alright but they all have the same disadvantages over broker based trading like dependence on your Internet connection which is more or less unreliable in India , the security level is also lower and you also have lesser control over you demat account.

Answer 2

All the brokers are here with same intentions. you must check the brokerage yourself . commonly charged brok. is 2 paise to 3 paise per Rs.100 volume. in day trading. and 20paise to 30 paise in delivery trades. more than this is loot. effective cost is just double of it  as it includes  STT, stamp duty, turnover tax, service tax, other charges.  you need to be  simply  overcautious. nobody will tell u all these.

one question from my side before u go for day trading----Find out 5 people near you  who have made money through day trading in their life time?

Take this exercise seriously.

www.winthemarkets.com

Answer 3

You can make your own analysis as there are some good broker firms like Apollosindhoori who charge very less brokerage when compared with big players in South. So better check with many brokers and find out about their customer support level also in your area. Brokerage is not the only thing to be looked at.

Answer 4

I am a long term investor and not into daily trading. So this answer below, is probably not teh best answer for what you have asked.

But there will be important pointers to what should also be considered while deciding on the trading platform. So here goes.

I have personal experience with ICICIDirect, HDFC Securities and Motilal Oswal. I don't trade on a daily basis and am a long term investor. So for me brokerage rates don't matter much.

For me what matters are the following:

1. Reliability of the platform -I can transact when I want

2. Correctness in transaction records, account debits, demat credits, shortfall management

3. User-friendliness of interface - you can find what you want quickly

4. Promptness of customer helpdesk in replying to emails

5. Ability to do everything from one single place - like demat account, trading account, and bank account are all managed by the same entity, so there is single place of accountability

Given all these in my experience ICICIDirect still scores the best. It has the highest no of subscribers. It used to have some transaction problems earlier, but over the past year, I cannot recollect instances where I couldn't execute a buy/sell when I wanted it. (HDFC Securities & Motilal OSwal both have miles to go on this front, systems cant keep up with the load on exceptionally high traffic days -jan 22/23). Their User interface is the best, you can locate what to do and where very fast, almost intuitively. Their transaction records are impeccable, you have peace of mind. Couldn't say the same for Motilal Oswal (I had to track and remind them to make good the shortfall when I bought and paid for 20 shares of Wyeth Pharma but demat was only for 16 after a week). And single place of accountability makes sure i deal with the same party and can get things resolved faster.

No matter what arguments you hear against, perhaps the biggest argument in favour of ICICIDirect is that they have been operating these services from 1999. That's close to a decade of experience in handling extremes of load, variety of software and technical issues, customer complaints , and have matured over the years.

The others may give you cheaper brokerage rates (and that matters if you are a day trader) but have much more to cover before they can reach similar levels of maturity as a service provider.

My 2 cents. Hope they were useful & happy investing!

Answer 5

SHAREKHAN is far better than INDIABULLS in all aspects..........

The imp difference is indiabulls provides good funding to its clients against some security and that too are chargeable by a good interest %., whereas, sharekhan is very friendly, informative, and a complete destination for traders and investors espicially for new comers....

They also organise seminar known as FIRST STEP for freshers like u. so, contact ur nearest sharekhan branch for the seminar details which is free of cost...and then decide.....

I WOULD PREFER SHAREKHAN FOR U.............rest u decide on ur own.

Answer 6

I think Share khan the best ........

He is the Share(tiger) of market

Answer 7

We are a franchise of a Share Brokerage house in Mumbai.

In our case the DMAT accounts are opened directly with Brokerage house and not from us. Our brokerage house provides minimum account opening charge, low brokerage rate etc... and no annual fees for account maintenance.And we also provide u a latest Trading Software free for online trading. And we also provide sure intraday & delivery tips to our clients .

If you are interested please send a mail to

[e-mail]

or call - 09819705121 (Mukesh Chaturvedi)

Thanks

Answer 8

You can try out with Geojit or Reliance money.  

They have lesser brokerage and maintenance charges.