Selecting a broker

(sko5prasad) #263

Has anyone used Delivery Instruction Slip(DIS) to transfer shares from one DP to another, especially from SBICAP ?

They are charging min 21/- for each ISIN to be transferred. I think its pretty high and discourage the user to easily port its DP among the brokers.

(Hersh Kapadia) #264

Its a standard minium charge of 21 or a % of value whichever is higher. These are standard rates which the DP has to pay the Depository (NSDL / CDSL).

(us121) #265

even if one is having 25 stocks holding, it will cost around 500 Rs. Is it really a decision holding matter?

(us121) #266

HDFC Security charges some 4 paisa additional for each of debiting entry when we sell in delivery segment. is it a usual practice with other agencies? they only charge when debit is done not while crediting the stock to demat account.

Also if we close this Demat Account with HDFC Security what are the charges we need to incur?

(Yogesh Sane) #267

@Nikhil.A, This is not happening. Once I sell my shares on T day, I can only place my MF buy order on T+1 day else it gets rejected due to lack of funds. This is true even if my share sell happens on BSE where I believe you send you MF orders.

Even that order has to be placed before 1:30 PM else it goes to the exchange on T+2 and units get allotted on T+3 day. Since everything is getting settled between one exchange and one broker, why the time lag of 1 day just because it is different products?

(nowin) #268

I am using zerodha and things have been good for me. I was using icici direct earlier and i have saved a lot on brokerage.

If you are using zerodha , i agree that keeping a track of ledger may be tough. But i keep a track as to how much i have transferred to zerodha ytd. Any gain should be added to this and loss should be subtracted. If this matches ,then everything is fine.

(slowcoach) #269

I used to like Zerodha before, mainly because they run like a startup software company rather than a brokerage, but since then I have noticed quite a few chinks both in software and customer support. I dont want to use this forum to vent on the individual issues, and no offense to Nikhil here, but I find their customer care team quite very poor in terms of intellectual grasp (as is any other Customer Care center in India) and follow up/ownership mentality. Its like i am talking to a wall. They ask for so much documentation and yet make mistakes. The only saving grace was their sales guy was nice and professional enough to continue to provide me support and facilitation for quite a long time before he turned me over to Customer Support.

I used to use (and still do, in theory) use Kotak - but I find their website designed by a sixth grader. In that aspect, Zerodha is better. RKSV Upstox is just an also-ran. I feel a bit sad that the Indian brokerages (and banks) dont have such good and slick websites like in the US. Our brokerages have miles to go before they can come anywhere close enough to Fidelity/Etrade/TRowePrice/Vanguard et al.

I am thinking of switching to ICICI if I snag a good deal on their brokerage terms, based on the feedback from my friend’s circle of serious investors. Their’s the only bank website I have really liked.

(Nikhil.A) #271

I haven’t been on the forum for a while, so I apologise for the delay in responding. I remember this issue. As I said, it was a manual error in the narration. This was in the early days when GSM was introduced. Processes and safeguards have since been put in place to make sure this isn’t repeated. Thank you for pointing this out. Helped us make changes on our end to make things smoother and less error prone.

(Nikhil.A) #272

The BSE StAR MF platform and the exchange platform for settlement of trades done during the day are completely independent. That said, you still should be able to place MF purchase orders. Please write to social[at] or DM me so I can have this checked for you.

(Nikhil.A) #273

Thanks for the kind words. That said, any problems in the experience are unacceptable and we’re working on ironing out all he issues as fast as we can.

I understand your concern. As I said, we’re working on ironing out any issues in the system so our clients can trade without any worries. We’ve made great progress in the last year on this front. Latest updates at Zerodha – Aug 2017

Hope to see you on our platform again. Any feedback you have for us is welcome. Do write to feedback[at]

(naishadh) #274

Zerodha is the best by far - They are miles ahead - I don’t get why people aren’t shifting to these platforms faster - 99% cheaper than banks broking houses and way better user interface and ease

(SS64) #275

I have accounts with 4 brokerages

  1. Zerodha
  2. Motilal
  3. Edelweis
  4. HDFC

Zerodha - Its very easy to operate and any information can be viewed easily. Only pain point is Calculations of Average Price\Margin are off very often. So, close track is required for this. Once I had to call all my relatives (who opened due to my feedback on them) to let them know a bug when -50K loss showed as +1.5L Profit in just few hours. Average Price was off for one of the stock.

Motilal - Their research is top class and brokerage can be bargained for very low rates.
Their website is very difficult to understand and there is no alert of notification to let us know when a button is clicked. MO Trader is little bit better but Profit/Loss/Cash Margin is difficult to see.

Edelweiss - Their new site is ok and TraderLouge is good. I don’t much use their site.

HDFC - Their new site is very good and Rs 5999 plan gives free brokerage upto 25L. After that they said .25% Need to check as its not mentioned any where.


I had account with Religare before shifting to HDFC three months back. I joined with 999 plan. They committed to do 0.25% and then 0.1% based on my volumes. But till now it has not happened. Their service is also not good. Their “relationship manager” calls regularly (to trade more and sell me some ULIPs) till I blasted not to call till they have fulfilled what was promised. It was a struggle to get margin facility on my account.

Another disadvantage even you have a 0.1% brokerage is they have a minimum Rs 25 brokerage (plus 18% GST apart from the statutory charges) per scrip.This is not good for investors who will buy small quantities regularly. Say you buy a share of Bajaj Finance and Piramal Enterprises, then you will have to pay Rs 25 * 2 plus other charges.

With Religare I could place an off market order (on margin) and it seems we can place margin orders during market hours only. Plus there are about 200 scrips where E-Margin facility is present (Thyrocare is not present).

I’ve just opened a trading account with Zerodha last week (yet to be live) so all my buy orders will get delivered to my HDFC demat. I can sell only from HDFC. Best of all, brokerage is free and trading account is free (even AMC)! I might eventually move to SBI+Zerodha combo. I wanted to have to my demat with a big banks as my holdings are relatively high.

(SS64) #277

Thanks drgrudge. Today my bank RM came home and asked him how this can be negotiated. He said its not possible. Original HDFC Sec person said max can be 0.2 after it crosses certain limit. RM also confirmed its 0.25 for 5999 plan.

If you plan to transfer more than 10L in a day using net banking then RTGS should not be used then there will be timelag of 2 hours or so as per Zerodha Site. SBI had 10L limit.

(Aksh) #278

I can vouch for this. My fund transfer request was yesterday rejected despite available funds and four of their support staff just hung up on me without providing any satisfactory explanation. They even refused to give escalation contacts and just kept on parroting the same things

Can you please provide escalation contacts here, in case support staff is unable to resolve the issues, as is the case many a times, which will save tons of frustration for many customers like me.

(Nikhil.A) #279

You can write to quality[at] for level 1 escalations and complaints[at] for level 2 escalations.

(Aksh) #280

OK. Thanks for the prompt response. I’ll escalate the issue and hopefully It would help you guys fix your system, which seems broken at the moment, once and for all at least for this issue.

(Mahesh) #281

Do any brokerages allow putting a trailing stop loss (in ₹ or % terms) for delivery orders? I use Zerodha and Sharekhan currently but both have bracket orders only for intraday.

(Vijay D'Souza) #282

Sharekhan has bracket order for delivery also. You have to select MyGTD (good till date). They also have Bracket + Trailing stop loss in MyGTD orders also. You have an option to select future date upto 30 days and can change the date frequently as per your requirements.

(Aksh) #283

Even after escalating the issue at above email ids, my payout request is again rejected and support staff parroting the same things but can’t acknowledge issues with their broken and unreliable system and not ready to take instructions over phone or email. No option but to initiate legal proceedings and close all accounts with Zerodha. Highly unreliable.