Selecting a broker

(Nikhil.A) #491

This may feel like the only thing I keep saying on the forum, but these reports will be part of the new backoffice, Console. In fact, a few of these reports are already like on Console. Do check it out.

(Nikhil.A) #492

When you do this directly with the AMC, they simply need to allot you units. With any other platform, the platform needs some buffer time to ensure the availability of funds to process the order, check that all is fine, and also to be able to retry in case something goes wrong with order placement. We use BSE StAR MF to power the order execution and sometimes the exchange platform may reject some orders and we’d need some buffer to address all these exceptions.

(srikanthg) #493

Hi, per my knowledge the nav prices are updated based on daily closing (per last traded price of underlying assets)and allotment should be made on that day closing nav. Do you thing NAV’s are updated real time ?

(Devaki Nandan Tripathy) #494

Now Zerodha is offering its customers Thomson Reuters Stock Reports+ at a highly subsidized price of Rs 120 per month.

(spachiap) #495

Having read this news about the free US brokerage RobinHood ripping off customers

With such things in mind, please suggest the best broker:

  1. Who provides best service for Individual Investors (without such ripoff in bid/ask spread)
  2. Which broker makes purchase at the best price quoted.

(Devaki Nandan Tripathy) #496

Both the questions would remain unanswered for a long time as Indian regulatory authority (SEBI) does not have the skillset to run these kind of analytics.

Earlier NSE/BSE membership used to be the gold standard, but after surface of the NSE server colocation issue, it seems even there some members are more preferred over others.

Best option would be to place limit orders in stead of market orders and as such, its the investors who determines the trend of the market, not the speculators, IMHO.

(spachiap) #497

Agree, Limit Order helps. But it still doesn’t prevent preferential bad treatment, say when prices dips in short volumes only, on those low price orders get executed for “Special Customers”.

(Devaki Nandan Tripathy) #498

Orders at a price point gets executed on FIFO basis. There is no special or odinary customer there.

(Nikhil.A) #499

This simply isn’t possible in India as all orders are directly placed on the exchange here and are executed on a price-time priority.