Review of all stock brokers’
August 30th, 2007 • Related • Filed Under
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.
What next?
Girish, the New DTC is effective from next fiscal and not this one and so I think you should use ...
Hi Shabbir
I have invested in ELSS Funds heavily in order to save taxes. I still have pending SIPS.Do you think ...
Hell
Iam having SBI Magnum Tax saving-SIP, The amount was diducted from my account every month, but last month it ...
A very good site for dissemination of information relating to investing. Also check the sites I have created for free ...
Assalamo alaikum,
sir,
i am a working in a nationalised bank in middle management cader, getting 7.00 Lakh p a ...
i am marketing student and want2make carrier in stock exchange specially in forex tech analysis
right now having final project of ...
Comment by Daniel on 5 October 2007:
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.
Trackback by Mutual Funds and Market Research on 16 October 2007:
Mutual Funds and Market Research…
I couldn’t understand some parts of this article, but it sounds interesting…
Trackback by AdSense Money Maker on 7 November 2007:
AdSense Money Maker…
Do you know how to make money from AdSense automatically? You don’t!? I’ll teach you how!…
Trackback by nymex oil futures on 9 November 2007:
nymex oil futures…
Man i love reading your blog, interesting posts !…
Trackback by Stock Market Information on 23 November 2007:
Stock Market Information…
I couldn’t understand some parts of this article, but it sounds interesting…
Trackback by The Mutual Funds Blog! on 27 November 2007:
Retirement Fund…
First, you can invest in stocks, bonds, mutual funds, certificates of deposit, and money market……
Trackback by banner texas vinyl on 11 January 2008:
Hobart – flight of the…
This immediately lets me out of that position as I am not that heavy, however, we are up and planning…
Trackback by stock and dividend quote on 13 January 2008:
Did you really get the…
We omitted thematic, sectoral and dividend yield funds. We also left out closed-end funds and equity-linked savings schemes since they…
Trackback by auction auto government seized on 18 January 2008:
Part 1 of 2007 Chronology:…
31 India’s Tata Steel wins a bidding auction for Anglo-Dutch group Corus, edging out Brazilian company CSN, in a deal…
Comment by rajeshandkhanna on 23 May 2008:
Nice article.. can u explain same abt kotak securities??
Comment by Shabbir Bhimani on 23 May 2008:
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.
Comment by saurav on 11 September 2009:
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?
Comment by Shabbir Bhimani on 11 September 2009:
In fact I have account in all of them and so quite a few and yes I have both the accounts in all.
Comment by Netvinner on 11 December 2009:
Useful article. You ebook has inspired me to start investing/trading. Any pointers on SBI DEMAT and online trading website?
Comment by Shabbir Bhimani on 11 December 2009:
I do not use them and so would not be able to comment on them
Comment by Pankaj on 1 March 2010:
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.
Comment by BHIM on 23 August 2010:
PLEASE INCLUDE
SBICAPSEC
INDIA INFOLINE
DBS CHOLA one (can’t remember exact name)
Comment by Shabbir Bhimani on 23 August 2010:
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.
Comment by Alps on 31 August 2010:
Please share your reviews on the sites that provide intraday or positional investment tips.
Comment by Shabbir Bhimani on 31 August 2010:
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