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MY STOCK BROKER...THE BEST ???

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MY STOCK BROKER...THE BEST ???

Postby SOMU » Mon Dec 10, 2012 11:27 am

Dear , friends i am creating a tread here to discuss about low brokerage broking house with good service and advantages and disadvantages. I have some in mind like Zerodha , RK GLOBAL , RSVK , composite edge etc .

Also can discuss other broking houses which are not discounted flat free broker like above mentioned. Above 4 are discounted broking house with flat free brokerage . Let us discuss and find a good choice for us.
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Re: FRIENDS DISCUSS HERE LOWEST BROKARGE GOOD BROKING HOUSE

Postby SOMU » Sat Dec 15, 2012 8:41 pm

Yes sathyajit yu are correct zerodha has good customer support all said composite relatively new in the field so we can know if we open account there . I am opening one in composite one account as its brokerage structure same as zerodha and its brokerage definitely lower then zerodha till now whatever i have communicated with them not find bad. I will update after my account ready and i started to trade.

See we are customers and we are traders we are not broking house specific my view is where u get cheaper go there is customer support software etc are good. We have no problem.As we all are online traders so we can mange our account of our own no branch support we need. We can use web version, mobile version and software version simultaneously. so no problem i think .
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Re: MY STOCK BROKER...THE BEST ???

Postby portraj » Sun Dec 16, 2012 6:36 pm

Good and very great helpful information for brokarge ... thanks .............SOMU DA.........
Perspective is worth 80 IQ points
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Re: MY STOCK BROKER...THE BEST ???

Postby nisha » Thu Dec 20, 2012 6:02 pm

Somu sir...What happened??Have u opend account at compositeedge??How is their service and all??
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Re: MY STOCK BROKER...THE BEST ???

Postby SOMU » Thu Dec 20, 2012 9:20 pm

nisha wrote:Somu sir...What happened??Have u opend account at compositeedge??How is their service and all??


Yes , i have send application , some signature i forgot , now sending those again , i will update , till now support is fantastic, You can contact them in phone , gtalk , yahoo messenger even, Response is very fast. I will update once my account is opened. I send the relevant documents which i missed some signatures yesterday.
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Re: MY STOCK BROKER...THE BEST ???

Postby jaykaysingh » Thu Dec 20, 2012 9:38 pm

commodity too @ rs.20 with zerodha ,sounds gr8
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Re: MY STOCK BROKER...THE BEST ???

Postby SOMU » Thu Dec 20, 2012 9:58 pm

jaykaysingh wrote:commodity too @ rs.20 with zerodha ,sounds gr8


Better brokerage rate then zerodha by composite its cheaper than zerodha. Commodity they still not opened. Equity and cash they are cheaper than zerodha in all aspect. Like account opening fee , DP AMC and brokerage. zerodha don't offer yahoo messenger and Gtalk support.
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Re: MY STOCK BROKER...THE BEST ???

Postby pra_bha » Fri Dec 28, 2012 1:40 pm

I use Sharekhan .. not for trading but only for monitoring with their 'Trade Tiger' interface which allows 6 simultaneous, Realtime Graphical displays with Technicals like RSI etc . I found it the best among a few platforms which I have seen. Also it has Visual and Audible alarms and best thing is you do not have to pay for it. So I have just started trading in Sharekhan for the namesake and now not doing any trading there but using Trade tiger as a tool.

I use it as a visual platform while trading in NOW interface of Zerodha which has a very bad graphical interface.

The combination is good.
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Re: MY STOCK BROKER...THE BEST ???

Postby SOMU » Sat Dec 29, 2012 10:34 pm

My account is opened in composite edge , i have download and install NOW software. Till now everything is very smooth and fast , response from them i found very good.


My welcome letter contains , gtalk id , yahoo id of composite edge to indirect with them immediately and instantly . Also phone numbers for support related quarries .

For any issues not resolved with support they providing email address of 2 managing directors of the company also phone number. that is great
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Re: MY STOCK BROKER...THE BEST ???

Postby SOMU » Sat Dec 29, 2012 10:38 pm

Another news i am consulting with rk global for waiver of odin charge in commodity. They are offering me 1000 brokerage generate in rs 9 plane per month they already agreed to waive the Odin charge. Also i am talking with them for charging rs 99 only for odin in commodity irrespective of brokerage generated instead of 299 per month as of now. Lets see what deal i can bring for you all.
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Re: MY STOCK BROKER...THE BEST ???

Postby pitchumani » Sun Dec 30, 2012 8:06 pm

Good, and appropriated your efforts somu ji,
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Re: MY STOCK BROKER...THE BEST ???

Postby SIM » Sun Dec 30, 2012 10:12 pm

All the best Somuji
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Re: MY STOCK BROKER...THE BEST ???

Postby sagay » Wed Jan 02, 2013 3:11 pm

pra_bha wrote:I use Sharekhan .. not for trading but only for monitoring with their 'Trade Tiger' interface which allows 6 simultaneous, Realtime Graphical displays with Technicals like RSI etc . I found it the best among a few platforms which I have seen. Also it has Visual and Audible alarms and best thing is you do not have to pay for it. So I have just started trading in Sharekhan for the namesake and now not doing any trading there but using Trade tiger as a tool.

I use it as a visual platform while trading in NOW interface of Zerodha which has a very bad graphical interface.

The combination is good.


Hey!
You should check out Compositedge as they are cheaper than zerodha.You can continue to use Trade tiger for graphs & should use the Compositedge trading platform for execution.
Thanks
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Re: MY STOCK BROKER...THE BEST ???

Postby roysou » Thu Jan 03, 2013 9:05 pm

SOMU wrote: Another news i am consulting with rk global for waiver of odin charge in commodity. They are offering me 1000 brokerage generate in rs 9 plane per month they already agreed to waive the Odin charge. Also i am talking with them for charging rs 99 only for odin in commodity irrespective of brokerage generated instead of 299 per month as of now. Lets see what deal i can bring for you all.


Will be very good deal indeed Somu. :dance2:
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Re: MY STOCK BROKER...THE BEST ???

Postby vpukken » Sat Jan 19, 2013 6:57 pm

(Read it from a blog and not for debate. I use a discount broker as I dnt need many of the features offered by the branded ones :SUNNY: )

Understanding Discount Brokers in India(Might Be useful)

Have your ever wondered why discount brokers(e.g Zerodha,Compositedge,RKSV,RK Global) are charging very less and cheap brokerage when compared to full service brokers like Sharekhan,ICICIDirect,HDFCsec,IndianBulls)?

Here is a interesting article take from a Blog which gives you complete understanding about what differentiates full service brokers from discount brokers and how discount brokers are able to charge low brokerage fee when compared to higher brokerage full service brokers.

I have seen many people do not understand difference between full service and discount brokers. I have traded with both (ICICIDirect, Motilal Oswal, ANGEL Broking, INDIABULLS, RK Global) and (Zerodha). Discount brokerage is still evolving concept in India.

If you use a brokerage, it’s useful to understand the difference between full-service brokers and discount brokers. Think of it this way: When dining out, your choice of restaurants ranges from Uncle’s kitchen to Oberoi’s Amar Vilas (any 5 star) Both provide very tasty food.

At Uncle’s kitchen (any local brand), you have to do self service or waiter will take orders, you have to wait for waiter to come over. Waiter will not suggest good food for evening etc. He will either tell you what’s hot or cold and take order quickly.

Same guy will just deliver food and plates on table. He may give you pleasant smile or may not. He will expect you to eat fast, pay bill quickly and leave place so he can serve next customer. Uncle will charge Rs. 10-15 for cup of coffee and 5 for cut-in tea and 7 for full cup of tea.

At 5 star restaurant, you will be welcomed by some sweet sixteen young girl (selected by top officials). The captain will talk to you about evening (if you have foreigners, he may speak some welcome words in foreigner’s native language – see we expect FDI here ). Captain will give suggestions about food, help you select it, will take orders on latest ipad. If you do not like one of dishes (which he suggested) he will not charge you for that dish as well.

Even if you order just one cup of coffee (he will not offer cup of tea as it’s not there in menu card), he will not disturb you for next 3 hours. You will endup paying Rs. 350 for coffee and 150 for some taxes and 200 Rs. for Call, total= 700/-.

Uncle always say his kitchen is best in town. Does Uncle lie? No, as he is serving different market segment. People do not expect him to hire sweet sixteen and have Captain for service.

Full-service brokerages offer following

-IPO investments
-Stock buy and sell in cash market
-Bonds buy and sell
-Mutual funds buy and sell
-Annuities
-Insurance (health, life, term, investment)
-National Saving Certificates, Kisan certificates
-Margin funding for IPO
-Margin funding for stock trading
-Margin funding for FNO
-Loan against gold (under different name)
-Loan against stocks
-Research reports on fundamentals
-Research reports on technicals
-RM
-offline and online trading
-PMS for stocks
-PMS for mutual funds
-Wealth management
-Commodities
-Private equity
-Investment advisory
-Trading calls for multiple market segments and different time frame – intraday, short term, long term
-Demat
-ECN, good backoffice and software to manage assets
-Call and trade
-Funds transfer from almost all banks
-Facility to trade in all exchanges in India
-Facility to trade in all major global exchanges
-Forex trading in local and international markets
-SLB

Full service brokerage firms offer multiple products to cater different market segments. Full service brokers will have some subbroker near to your house. Discount broker may have only one office in India.

Let’s talk about discount brokerage
Discount brokerage firms in India mainly offers

-High speed trading terminal
-High speed order execution systems
-DMA
-Shared servers for co-location.
-Basic backoffice as per law
-ECN
-Call and trade
-Email support

They expect do-it-yourself investor/ traders. They will not spend time on educating investors like full service one (see Uncle’s waiter and Captain in 5 star). They do not offer own DMAT service.

Full service brokers will have RM coming to your office / home to open your account. Discount brokers may not do that.

Both provide equal level of security for investor’s money in accounts as brokerage is highly regulated business. Both are at par in eyes of Sebi or stock exchanges like NSE, BSE. It’s not like discount broker will run away with your money and full service one will not. Money is equally safe with both.

Discount broker charges much less fees as against full service. Max brokerage (by al type of l brokers) can not be higher than 2.5% (see sebi site for actual details) of trade value.

If you buy Merc, your dealer giving 2 weeks training to your driver about how to drive Merc. Merc provides free pick up for your vehicle (any where in India even if your Merc is far remote area in India) to workshop. Merc service manager gives regular calls to customer on regular frequency asking about how car is doing. Merc customers are not expected to ask for why servicing charges are so high.

But, if you buy Nano or Maruti and say “you know what Merc dealer do so much and this non sense Nano/ Maruti dealer is hopeless etc”. Does this makes sense?

As people do not expect owner of Uncle’s kitchen to hire sweet sixteen and have Captain for service. People should not expect discount brokers to offer services of full service brokers at rate of discount broker’s brokerage.
VOLATILITY ALWAYS EQUALS OPPORTUNITY

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Re: MY STOCK BROKER...THE BEST ???

Postby S.K.RAJ » Sun Jan 20, 2013 5:49 pm

Very well explained between regular and discount broker. Obviously a discount broker is cheap as there is no research report and team , No calls from there no any analyst cost. No branch infrastructure and employee cost etc.

Thanks for the lesson with example
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