Using your phone's internet browser
go to:  qna.rediff.com
Click and drag this link to
the Home icon in your browser.
Q.

MONEY ::::: In online trading, is it good to do through local agents or private companies than Banks ? I have heard that we can save brockerage if we trade through local software and can escape from the Slamming Brockerage of Banks like ICICI, HDFC, AXIS etc. Is it a truth or just a propoganda of individual/company brockers ?

Tags: money, careers, education
Asked by peekay first, 19 Dec '09 07:42 pm
  Invite a friend  |  
  Save  |  
 Earn 10 points for answering
Answer this question  Earn 10 points for answering    
4000 characters remaining  
  
    
Keep me signed inNew User? Sign up

Answers (3)

 
1.

There are reputed brokers and there are also reputed banks who are offering the services of online trading.

Among the local agents are Geojit, Kotak, Sharekhan, Motilal Oswal, Advani, IndiaBulls, Reliance Money, Angel broking etc. You will have to check out from the city in which you are to see if they have local offices.

Among banks are HDFC Securities, UTI Securities, ICICI Direct and a host of other banks.

Each one has its own policy and brokerages are depended on what is offered by each. I am not personally happy with what is being charged by the banks as they are on the higher side.

I have two online and two Non-online Accounts.
...more
Answered by Omega, 19 Dec '09 09:00 pm

 
  
Report abuse
Useful
 (1)
Not Useful
 (0)
Your vote on this answer has already been received
2.

If you don't like taking risk invest in Insurances or Bonds.
Answered by max fresh, 21 Dec '09 01:52 am

 
  
Report abuse
Useful
 (1)
Not Useful
 (0)
Your vote on this answer has already been received
3.

Now the point has come where everyone is offering competitive rates for online trading, but still the Banks charge more no doubt about it. Reliance offers highly competitive brokerage deal. Sharekhan and 5paisa are also good. These non-bank entities give good additional features also, like trading screen, etc.

Icicidirect is worst in terms of speed, brokerage, etc, but if offers highest margin for traders, up to 25 times, no one gives this. But this high margin also prove fatal to the traders as it will tempt them to trade in large quantities. Till recently the square off time of icici was 3 pm for margin trades, now it is extended till 3.30 and the option of carry forward the positions to 2 days is introduced.

So, it is better to have trading accounts with banks as well as non-bank companies as both offer different facilities.
Answered by Nirmal Mahapatra, 19 Dec '09 08:01 pm

 
  
Report abuse
Useful
 (1)
Not Useful
 (0)
Your vote on this answer has already been received

Ask a Question

Get answers from the community

600 characters remaining

Related Answer

Q.
A

Lakshmi N Mittal Steel tycoon Lakshmi Niwas Mittal is the richest Indian in the world, with an estimated wealth of $25 billion. He resides in London..more

Answered by Deepak Joshi