When it comes to making money with equity one of the important aspect is your stock broker’s service at your disposal and so this time I have decide to review all the stock broking house that I have used in the past couple of years.
When it comes to making money with equity one of the important aspect is your stock broker’s service at your disposal and so this time I have decide to review all the stock broking house that I have used in the past couple of years. Believe me I have used majority of them and I will give in depth review of each of them in the next few days.
This is a series of 8 posts where I will share one review in each post and finally decide the best broking house. As I make the posts I will update this page with the link to the review. If you want you can bookmark this page for now.
Posts so Far
- Religare Review
- AnandRathi Review
- Reliance Money Review
- Indiabulls Review
- HDFC Securities Review
- Motilal Oswal Review
- ICICIDirect Review
- ShareKhan Review
- ZeroDha Review
Update 15th Dec 2013: In Last few years I have moved from ICICIDirect to Motilal Oswal to ShareKhan and now is with ZeroDha.
Hello Shabbir, there are quite a few discount brokers these days. All of these are offering pretty low brokerage charges, descent trading platforms etc. I was reading an article online that discussed specifically about these discount brokers etc.
Would appreciate your thoughts.
http://www.adigitalblogger.com/stock-broking-latest/top-discount-brokers-in-india/
I think it is the new business model that will prevail and you can see that the disadvantages about discount brokerages are actually advantages because we don’t need those research reports and other BS. Also it provides good opportunity to be trading yourself than doing it over the phone.
I wonder if you are still sticking to Zerondha broker. I read your reviews on some brokers. I agree with most of your views except Indiabulls. I was with Indiabulls for 14 years and never had a hitch. Accounts impeccable, software powerbulls unparallel. Now of course, share khan, Geojit are better and Ventura beats them all in software. IIFL is a big fraud to say the least but they will have to get training from ICICI in total fraudulent functioning. I am presently with Angel and Geojit. Angel gives me 0.01 paisa intra day and 0.1 for delivery without much hassles. They have a one time AMC charges option Rs 1250 + taxes. so demat charges are gone forever. Only ODIN is a big pain in the axx. If they develop a dedicated software like powerbull, tradetiger, ventura1, it will be great. geojit too has a fantastic flip platinum software and a clean backend system. They do not trouble you with calls and are very passive which I sort of like.
This is quite an information on all those brokers you have tried and I have not tried so many of them and so could not comment much on most of them. Regarding Zerodha, I have stopped recommending them after they had issues of server downtime when they upgraded the system.
Regarding Indiabulls, I had issues with the commodities then when I tried them. It could be some branch offices are not at par others and if something is working for you, that is the best thing that can happen. As of now ShareKhan is working for me quite well when it comes to trading and investment account but then ShareKhan PMS did not work for me.
sir, i have no idea about share market , i don’t know ABCD of share m
in share smart , but i want to know about it , please guide me , which
full time broker is best for me , which guide me to buy a share and sell
a share at right time . and i am small investor to invest in share
market , so please guide me for it
Chandan singh, if you don’t know what you needs to be doing in market, brokers can take your money for a ride. They want to be generating lot of brokerages and that can be done if you trade more. So they will have their own interest more than you making money from market.
So I will suggest you to start with SIP in mutual funds and get knowledge of market.
how i can start in SIP in mutual funds
Read http://shabbir.in/faq-sip/ and http://shabbir.in/invest-mutual-funds-online/ It should help you to get started.
i am not opening a account in sherkhan or icici direct , you are giving a idea about start with mutual fund with theses brokers (as mention in the above link ) , so please give me a idea which one better for beginner (me) .
Chandan singh, you don’t need a brokers account if you don’t want to be trading in shares because they may charge you yearly fees just for having the account. Open an account with FundsIndia and you can just invest in mutual funds using them. Once you are ready to get into shares, you can look for those accounts.
i want to change from iifl to zerodha (though iifl is in war mood with 9.99 rs flat brokerage from 1 nov).what the procedure
I have no personal experience with iifl but yes Zerodha is quite good. You can read more about my views on Zerodha here – http://shabbir.in/zerodha-review/
Just curious to know if you have used discount brokers like Zerodha and TradeSmartOnline as these seem to offer very low brokerages
Sandesh, yes I have been experimenting with ZeroDha and is really good and have written the review which should be going live by tomorrow. Will share the link with you once its done.
Sandesh, here is my ZeroDha’s Review for their brokerage and service
Hi Shabbir,
Thanks for all your reviews about about several brokers.
I have Opened my account with share khan 1 year ago. and didn’t face any problem till now as i just trade in equity. But going through several comments i would share my thoughts.
I have opened my account in Bangalore branch and referred my colleague who resides in Chennai. So his account was opened in Chennai branch. I have seen some difference in service from both the branch broker and hence concluded that the individual broker is also equally important,the relationship which they built up with every customer and also individual knowledge, stocks advice and support for their client for all there queries.
As i m satisfied with the broker i am concentrating more on trading rather than other stuffs.
Thank,
Pratik
Pratik, glad to read your experience and yes I am also pretty happy with Sharekhan.
Hi, Shabbir
From last six month I am using “ZERODHA” online broker based on Banglore, very little known firm. But there model is too much good even on ground reality. No any kind of etra charge, just Rs.20/trade or any lot size or 0.01% which ever is less . 5 out of 5 star. Best for Day trader in commodity or F&O, worth to give them try.
Sure Amit, I have heard good things about them in our DIYTA forum and so yes will give them a try as soon as I can. I have too much on the ToDo list now and so may be will add this as well.
Thanks for reply,,,
You are right ,most of us have large ToDo list . It would be very nice to read your time management method .Hope you write in future about it.
Definitely and I am just trying to manage my time somehow.
Hi Shabbir
Any view on IndiaInfoline ?
regards
Anant K
No Anant. I don’t have an account with them.
Hi Shabbir
Any idea about Angel broking?
I have been using Ibulls, icici, reliance bt not satisfied. Icici charges hefty brokerage. Ibulls has many issues n same is wid reliance. I have not tried sharekhan n angel though i m in touch wid them. Pls suggest between sharekhan n angel. Pls give ur comments on:
1. Brokerage (as of now both r offering 1p n 10p)
2. Trading platform (who offers best info, best software for windows n android)
3. Integration wid bank a/c n efficiency of fund transfer n withdrawel (who offers instant)
4. After sales service.
Thanks very much
Sukhbir, I don’t have account with Angel broking and so will not be able to answer your questions about them but for me ShareKhan is quite OK for first 3 points of yours and as their website is good enough, I never needed an after sales service with them
Alright…thanks a lot for ur comments on sharekhan.
The pleasure is all mine Sukhbir
Hello shabbir, I have classic a.c with sharekhan but still couldn’t figure out the stop loss mantra..please help me with that
Shantanu
Stop loss has nothing to do with your account type. What you are trying?
I read all of them, It was an interesting read. I want to start trading in a month. Can you tell me which is the best option for me…?
The amount of information you have shared, I am not sure anyone can suggest you the best option for you Mihir.
Can you please update the webpages with any new experiences / charges that you have heard of ?
Experience with brokers are same with just one change. Quality of offline services of MOSL has gone down but that has been compensated by online service.
Thank you. So you advise that sharekhan is the best ? followed by MOSL. ?
I have a zero balance account with ICICI. I’m looking forward to do trading in equity for long term + short term. They have given me first year free and no a/c opening fee. Still. the only reason I’m not going with them is high broking charges, as you have already mentioned.
Free account for first year with no A/C opening fees is the mantra by every broker.
Hello shabbir,
Whats your view regarding angel broking?
Regards
shyam
Shyam, I don’t have personal experience with them and so cannot comment on them.
hi shabir
thanks for ur comment but if i don’t enter in stock market though my investment will be 1500per month how can i learn more abt it.
i read all ur reviews for brokers but can u tell me abt those selected name i asked before. i shall be thankful to you
Nice tips.
Very well written…i am one of your regular readers…
Sir, I had earlier registered at your web site and Iin reply to your welcome e-mail I included some points I wanted to clarify.
I did receive a reply saying FIRST MAKE THE MESSAGe READABLE-use proper font. I had a font of 18 being an OLD MAN -but I asked you to let me know what font to use-10 or 12- but till todate no there is reply. I know you are a very busy man but kindly reply to my earlier message. Thank you in advance.
Parackal, If you make very large fonts they do not become readable. Normal fonts are good enough.