ValuePickr Forum

Selecting a broker

Hi @samir_brd

Few days back, I tried to place a buy order on BSE for a security which falls under XD category for my account with SASonline. On making an inquiry with the helpdesk got to know that they have blocked some securities on BSE which falls under categories of “XC”, “XD”, “XT”, “Z” and “ZP” and we won’t be able to trade after 31/12/15, apparently because BSE has revised transaction charges for these categories. I tried to convince them at least to give an option to trade in such securities even with higher options as many like me find good value in such securities, but of no avail.

Till now I was quite satisfied with their services and thanking you for your recommendation, but this new gimmick has created some issues for me as I won’t be able to deal in these categories anymore with this account. Are you or any other current users bugged by the same issue? Have you evaluated any other worthy options?

Waiting for your feedback.

Thanks,
Aksh

I have demat with ICICI Direct, Sharekhan and Angel Broking

Recently shifted to Angel Broking after having relationship with ICICI Direct from 8 years. ICICI charges are high with zero RM support (at lease in my case) and not willing to reduce brokerage and I am not keen to pay heavy money as pre paid as am not a day trader.

Angel is offering 10 paisa and 1 paisa to me and am satisfy with platform. Sharekhan is also good but expensive than Angel

Hi

I had brokerage account with ICICI Direct. But recently I opened account with Zerodha based on some recommendations I received. Zerodha offers zero brokerage on cash delivery transactions.

Since I have considerably large portfolio value, any reshuffling/re-balancing in the portfolio used to lead to large brokerage that ICICI Direct charges. So I have decided to transfer my demat account for most of the stocks from ICICIDirect to Zerodha.

Thanks and Regards
Sudheendra

Hi @sudhe09,

Thanks for your feedback. Yes, It makes sense to go with online discount brokers when we trade/invest mostly online on our own as full service brokers like ICICI Direct etc. have very high brokerage in comparison without any value addition.

I’m also evaluating Zerodha as my second trading account. How’s your experience with them so far in terms of their trading softwares - desktop, web and mobile versions and back office reporting? How long have you been holding this account with them? and most importantly, do they allow trading in equity delivery (cash segment) for all the securities listed in BSE/NSE without blocking any scripts?

Thanks,
Aksh

Hi @brajeshrawat,

Which trading softwares Angel is offering for Desktop, Web and Mobile versions and back office reporting? Could you please explain more - 10 paisa and 1 paisa for what? for cash delivery and intraday? Also do they allow trading in all BSE/NSE listed securities without blocking any? How’s your experience with them so far?

Thanks,
Aksh

Hi

I have just opened the trading and demat account with them. I have initiated the transfer from ICICI Direct. Their desktop application (PI) looks good. Though I have not done much of transactions yet. So too early to comment on experience.

They do support cash delivery transactions provided we have demat account also with them. For cash delivery transactions the brokerage is nil.

KITE is their new online interface which currently support only NSE stocks. The desktop application (PI) and the older online interface (trade.zerodha) supports both NSE and BSE.

BR,
Sudheendra

Hi Aksh,

I have been with Zerodha for more than a year now and mostly use their desktop trading version which is Pi. I have seldom used Kite, their web version.

Pi provides a neat interface for me to trade (buy and hold and very rarely selling) and has some charting as well. You could write scripts and back test it too. It also has expert advisors (built in) providing you with alerts/reports as well.

With reference to back office, the web version of Q.zerodha provides you the following.
Open Positions, Holdings, Ledger, reports pertaining to P&L , tradebook and Tax P&L. It also provides analytics based on time, market trends and holdings breakdown based on sectors.

There’s another back office, which is bo.zerodha, for reasons beyond me it works with Internet Explorer only and this provides detailed reports as well.

Blocking any scripts listed in BSE/NSE, I don’t have an answer. I list the scrips which I deal with on the marketwatch screen. You can deal with only one screen/marketwatch at this time. It will be tricky if you have too many scrips to deal with.

Also, my trading account is with Zerodha and my Demat is with IL&FS, they didn’t have demat facility then I suppose, but they are providing it currently.

I used to be with Indian Bank Merchant Banking Services earlier, using NOW interface.

BR
Mahesh Bala

1 Like

I too have been using icicidirect and hate their pricing. two things i liked about them are 1). year end capital gain tax calculation. 2) no dependency in data. (so no need to calculate/monitor the transactions)
i am seriously considering zerodha. i wont be transferring existing holdings. but will do all future transactions here. ( not a trader. only delivery based transactions)
can someone highlight the -ve points in zerodha? ( i think risk wise, there is nothing to worry since the underlying share is held in nsdl). also, i am surprised not many people have accounts with them. most of us seem be with likes if icici,hdfc,sharekhan etc.

Aksh

Frankly, I would not be trading in these categories like Z and ZP!!!

Jokes apart, I can understand your frustration on not being able to trade certain stocks. A couple of years back, I wanted to sell Karuturi Global on HDFC, and I could not do so on their website. On call and trade, I could, but had to pay much higher transaction charges.

I have in the meantime, tried composite edge, and given it up. I had two problems with Composite Edge. One, it had a very crufty back office. My accounts people had a real hard time figuring out the trades and so on. Worse, they did not allow me automatic collateral against securities in my beneficiary account, which SAS Online does. Since I do a lot of F&O trading, I find this very useful, since I don’t have to pony up cash margin against these trades.

For those people who have ICICI DIrect or Angel or even Zerodha, the brokerage of SASO is much lower. It is only Rs. 9/- per executed order. Even if your order is worth 10 crores, your brokerage will be only Rs. 9. This is regardless of F&O or Cash. If you are a frequent trader like me, you can also opt for a Rs.999/month unlimited trading plan. Zerodha is 20 Rs per executed order, and you don’t have a flat monthly plan either. Because I have such little brokerage, I can attempt certain arbitrages, which just don’t work with higher brokerage.

If you are a trader, who uses Amibroker signals, then a trading bridge is a good idea, which can automatically place orders for you. I tried Symphony, which has a tie up with Composite edge, but found it difficult to use, and quite expensive. So I have developed my own trading bridge, which can take Amibroker signals and place orders on Nest within 4 seconds. I use this along with my SASO account and Nest Trader.

Hi @cool_aksh

Pls see the brokerage plan attached, which I got it reduced to 10 Paisa and 1 Paisa for Cash Delivery and Intra day respectively.

Just a week old on angel and only using Web so far so don’t have much experience on other platform - Mobile, Desktop. But over all its seems okay, yes to me still ICICI UI looks better and easy as was using from last 10+ years but Relationship managers, research, etc really sucks. I have escalated my case to Hub Head and National Head Service Quality but sign the same song which is not customer friendly. Going to write to Anup Bagchi (CEO ICICI Securities ) before saying good bye to them.

On the other had I found Angel is really customer friendly and taking pain in resolving my parents dormat demant account with out any vested intrest for me…really impressive.

You can see Angel demo on the following links -

http://www.angelbroking.com/online_trading/product-demo.aspx they have different applications for Web/Desktop/Mobile etc

PS: I am not marketing Angel here pls

Thanks
Brajesh

Thanks Sudheendra, Mahesh, Gautham, Samir and Brajesh for your quick responses. It really helps.

@brajeshrawat @sethufan

Believe you guys have accounts with Angel Broking. Can you confirm if you can place a Valid till Cancelled (VTC) order for equity delivery with them? And how many days is it valid for? ICICI allows to place this order with a validity of 45 days. But I have completely stopped trading with them due to the ridiculous brokerage.

Also have an account with Zerodha. Excellent features and now 0 brokerage charges (only on delivery). But they don’t have this VTC option.

Since I can’t be in front of the screen everyday during trading hours, VTC order would be really useful for me.

Thanks!

I have an account with RKSV. They’ve recently started 0 brokerage for delivery. Seems very nice!!

VTC option would be awesome in such choppy markets!!
Any pointers, which good brokers have it?

@gurjota @devansh_god ,
Kotak is having the feature of Good Till Cancelled and the last time I spoke with them they had agreed to provide with 0.2% brokerage. Apart from this HDFC and ICICI also has this feature but their brokerage can not be negotiated down. Have anyone done reducing ICICI’s brokerage?

@gurjota,
You don’t have to sit in front of PC to do that. Most brokers have After Market hours Orders (AMO) where you can place your orders like VTC/GTC only that it would be valid for a that day.

I’m planning to go for Philip Capital @0.15% brokerage. Any reviews?

Yes I know about AMO orders. However they’re not really useful if your stock buy/sell range is 15-20% from the current price. This could mean putting in a AMO order every single day for 1-2 months or more till the time the trigger price is reached. And if you have to do this for 5-10 stocks everyday, I’m sure sooner rather than later you’ll forget/have no Internet access/be traveling/etc etc. and just end your routine abruptly.

2 Likes

Hello Gurus,
I am fed up my broker kotak, the problem is that many stocks that i own have had open offers and i want to do more of special situations, however with kotak i have to do it offline by myself. Is there a broker when i can do it online?
Thanks

Hi,

Is there any broking firm which provides api’s to do automated trading?

Can anyone share a good broker for IPO funding account

Hi,

I need a integrated brokerage which,

  1. Sends news/announcements/interviews related to my portfolio to my email.
  2. Provides me with profit and loss of the current portfolio (with split/bonus automatically adjustmented)
  3. Provides performance history for my trades/investments from startdate to enddate (for tax calculation, performance evaluation)

I am currently using Hdfcsec. It isn’t good at all.

@kmukul,

  1. Have you used Interactive brokers. How is their service ? Can it fulfill all my above 3 requirements.

@samir_brd,

  1. Does SASonline provides “VTC(valid till cancel)” option
  2. What other advantages SAS provides over zerodha apart from 9/- per trade
  3. How can I transfer my shares in my demat account (with HDFC) to SASonline or any other trading platform. When I contacted HDFC agent he told that I have to sell all my shares.
    Does they provide margin funding ?

@brajeshrawat

  1. What advantages angel provides over zerodha ? Do they offer VTC option ?
    Angel charges 300/- for account maintenance. For zerodha its zero.
    Zerodha is zero brokerage for delivery
    20/- on any trade. Angel charges 0.01% per share, if the lot size is 2000 it equals to 20/-. Correct me if I am wrong.
    Does they provide margin funding (some websites say they dont)

You can convert Same Kotak Offline Account to online. The option of Trade will be open for self by Apps, Website and Call and Trade. Offline Account can be convert to online within 3-4 days of time only.