I or some of my family members /relative have an account in almost all the brokers and I would prefer to share my experience with each of them. I will be telling you about the following
- Motilal Oswal
- Reliance Money
- Sharekhan
- Religare
- AnandRathi
- ICICI Direct
Motilal Oswal
- Brokerage – Lowest among the rest 3 paise for trading and 30 paise for delivery.
- Phone Trading facility – Very good and Advisor always keep tracks of your stock and advices you but to avail the off line trading facility minimum amount you should invest is 1 lac.
- Online System – Not at all a good one. Does not have the option of buying IPO / mutual fund online.
- Service – Good
- Research – Very good research and as I am a long term trader I have hit them almost more than 90%.
- Mutual Fund – No online available.
Reliance Money
- Brokerage – NIL but you need to pay 500 per year for trading of 5 lacs or per 2 month for trading of 1 crore
- Phone Trading facility – Not there officially but depends on how are your relationship with the guys
- Online System – Very good one.
- Service – Good
- Research – Good tips.
- Mutual Fund – Some funds only.
Sharekhan
- Brokerage – 5 paise for trading and 50 paise for delivery.
- Phone Trading facility – Not very good when it comes to one to one service unless you have a very big portfolio.
- Online System – Really a nice interface with everything integrated at one place
- Service – Good.
- Research – I would rate it as an average and I have not seen many long term targets are hit.
- Mutual Fund – More funds then Reliance Money.
Religare
- Brokerage – If you have an account in Motilal Oswal they will offer you 2.5 paise for trading and 25 paise for delivery. (At least they have done that to me.)
- Phone Trading facility – Average.
- Online System – Above Average
- Service – I would not say bad.
- Research – Have seen many of them not hitting the target but they tend to get the trend positively.
AnandRathi
- Brokerage – 5 paise for trading and 50 paise for delivery.
- Phone Trading facility – You can assume its not at all there
- Online System – I have not seen anything good in the site. Nothing is integrated and lots of errors coming here and there.
- Service – As far as my expectation goes its worst.
- Research – Quick pick emails that comes is very good but rest are below average. You don’t have the option of seeing any previous research reports unless you save them locally.
- Mutual Fund – Very hard to find anything.
ICICI Direct
- Brokerage – Highest and its aroung 7.5 paise and 75 paise and so is not for traders but for those who buy the stock and keep it for ages.
- Phone Trading facility – Not there I would say.
- Online System – Very well integrated with the bank.
- Service – I would not say Non existence.
- Research – Have seen they have started it recently but have not validated them.
- Mutual Fund – All funds.
My personal recommendations would be Motilal Oswal and Reliance money but you can try with others as well, in the order from top to bottom.
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{ 40 comments… read them below or add one }
Hello sir,
Please give review about india infoline. I want to open an account but not yet decided where to open pls hlp me?
I don’t have an account with them and so will not be able to share my views for them.
Thank you
The pleasure is all mine.
Hello Shabbir,
I don’t see any discount brokers in your list. I recently started using one and finding it much cheaper than any of the above. I am not a very frequent trader but I do around 2-3 trades a day. I have got many reviews about discount broekrs on below page. I am pointing it as I found the comparision very interested.
http://www.chittorgarh.com/newportal/online_stock_broker_comparison.asp
My personal suggestion is everybody should try these new type of brokers once and see the huge differance.
Dinesh
Dinesh, the list is the one I have personally tested things with and not based on lowest brokerage but the link you provide has some awesome charts and comparison.
Please send me a copy of your ebook.
TIA
Varun, are you referring to the sample chapters?
send me those chapters that u specified above. Thanks a lot.
name: saravanan.g
email: Hidden
Done.
I have been trading with Edelweiss.in since the last one year. They have a fantastic online website – http://www.edelweiss.in
A lot of value adds – very good portfolio and customer service. Would recommend this to my fellow colleagues.
Assalamualaykum…
Hmmmmm I see, im den left with ShareKhan and Edelweiss
Assalamualaykum bro.
My research gave me some results….
CD Equities, offers 1ps Intraday/10ps Delivery.
Advance brockerage 1000-10,000
A/c opening+AMC xtra
Delivery Exposure T+5
ShareKhan offers 2ps Intraday/20ps Delivery.
750 A/c opening+AMC.
Edelweiss offers 2ps Intraday/20ps Delivery for Rs10,000 Advance Brockerage. Or 3ps/30ps for normal candidates. Edelweiss is famous for being a equities-research-group. I saw their articles in Economic Times, and they promise to give best research reports to users exclusively.
Ventura – 1p/10p for Rs 10,000 Advance Brockerage. Delivery Exposure-T+1
Kotak 2ps/20ps for Rs10,000 Advance Brockerage.
3-in-1 A/c -Demat/Equity
———————–
I intend to do only Online Trading-Self.
I do my own research & dont need PMS.
Kindly suggest a good firm, which is reliable for non-stop and hassle free service. I got bad info abt many companies, so I feel a bit hesistant to start with anybody
I liked Edelweiss for their research reports
I liked ShareKhan for their Old-n-gold service
I liked CD Equities for 1p/10p
Kindly tell “US” something good
Assalamualaykum
I have shared the one I have account with and now it is your choice to get the one that suits your needs the best
Thanks, you suggestion is very help to me also and I know foreign exchange market is a 24-hour market that involves currency trading.
Thanks, Thats a nice suggestion but I think the tips are always good when executed with the investment objective. The problem is I do not use them and so I cannot comment on them
Hi Mr. Bhimani,
I am new to this and want to learn more about stock market. even subscribed ur website. ur articles were good. actually wanna to know more about other thing like demat account avaialable other than u mentioned, how to analyse the market, etc.
now the priority is about demat accounts as i am receiveing numbers of call from different broker like kotak securities, axis direct, http://www.cdequi.com, edelweiss, bme wealth creator, angel broking services, can u please help me out out of these which is more suitable for me.
i am a small investor. can save 1500 every month for stock. not interested in MF. Looking to become a good investor with period of time.
i will be thankful for ur effort.
have a great day sir
I will suggest you to avoid stock market especially directly investing in stock with only 1500 per month.
Shabbir,
This review did lack a lot of street smart ways to negotiate the brokerage.
See, when deciding the broker, you first need to decide the facilities that you will be needing, like,
you prefer phone based trading or internet based trading….
Intraday vs Delivery….
accessing from multiple sites (office, home or on mobile when traveling) or from a single site (your home desktop only)…
And the way to negotiate for the brokerage is the MARGIN you can issue initially….this is the key to get down the brokerage upto unbelievable levels….
How this works is, if you have 10,000 as initial margin, lets say, you will get 7paise(intraday)/45paisa(delivery) for first leg and 0 paisa/45 paisa for second leg….
If you can pay 25000 as the margin, this can be 5paisa/35paisa and 0 paisa/35paisa…
If you can get 100,000 margin, this can be 3 paisa/25 paisa and 0paisa/25paisa…
If you can give 200,000 margin, this can be 2 paisa/15paisa and 0paisa/15paisa for second leg…
All this has been just an illustration to explain to you how it works…
If you have good understanding of human behaviour and combined with negotiation skills….you can land up 1p/10p and 1p/1p (yes 1paisa on second leg for both)…..
Best of luck…
Gautam, brokerage is not the only thing for choosing the broker or else I could have recommended InteractiveBrokers to everybody.
I am planning to invest in mutual funds, but confused about through whom I should buy it.
On internet I came across- fundsindia.
Can anyone give me review about it?
Also which one will be the best brokerage firm to go with?
And what will be the charges?
For Mutual funds ShareKhan is the best as they offer all for free online.
Angel is worst in Calcutta. Anand Rathi Trade Express and IIFL web based platform are useless. But position,Net value,Holdings.Off lne call service etc r good for IIFL.Kotak is another absolutely no no. I am not too sure about Guinees,Karuna etc.
Can u comment anything about angel broking?????
I am a small investor new to stock market my investment is small and i want to play short term can u plz tell me shabbir which stock broker will be good for me…..
Manoj, I can only say what has worked for me but if you don’t have 100k to trade I will suggest you start with mutual funds.
Shabbir,
Do you have an update on your original ranking of Motilal and Reliance. Do you still hold them in good regard, especially with reference to their advice.
Not Reliance but definitely MOSL. I still use them for all my day to day trading.
Please share your reviews on the sites that provide intraday or positional investment tips.
Alps, Thats a nice suggestion but I think the tips are always good when executed with the investment objective. The problem is I do not use them and so I cannot comment on them
PLEASE INCLUDE
SBICAPSEC
INDIA INFOLINE
DBS CHOLA one (can’t remember exact name)
BHIM, I do not have experience with them but if you have it you can share them with me and I will be more than happy to put it online.
Has anyone tried the http://www.edelweiss.in/ portal for online trading ?
I am a newbie and planing to get an online presence for trading.
Any help will be highly appreciated.
Useful article. You ebook has inspired me to start investing/trading. Any pointers on SBI DEMAT and online trading website?
I do not use them and so would not be able to comment on them
sbi is basically a sub-broker for motiwal oswal.
and you know how efficient govt banks are. Do not have too much hope in sbi.
Another point – ICICI has another option for brokerage – about 55paise per trade. This is a recent development and has good brokerage recos.
So I love ICICI.
Thanx for the review of the brokers. Its really a great effort from your side. I have still confusion about demat account and trading account. Since you trade offline with motilal oswal and online with sharekhan, thats mean you have total four accounts: two for motilal and two for sharekhan (demat+trading). Am I right?
In fact I have account in all of them and so quite a few and yes I have both the accounts in all.
I don’t have an account in Kotak securities and no one I know also don’t have it so I would not be able to comment on them but the people I know of have huge portfolio and none of them using Kotak suggest they are not one of the better ones but I may be wrong also.
Nice article.. can u explain same abt kotak securities??
I couldn’t understand some parts of this article , but I guess I just need to check some more resources regarding this, because it sounds interesting.
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