Review of all stock brokers’

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

1. Motilal Oswal
2. Reliance Money
3. Sharekhan
4. Religare
5. AnandRathi
6. 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.