Trading Account Query

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sumchamp

sumchamp

Forerunner
I am planning to start doing trading on Indian Stock Exchanges(BSE and NSE). I have a very little knowledge on this field and some of terminologies are still alien to me.

What I am looking for is a cheap and good trading account to start with. Came to know discount brokers like RKSV, Zerodha, SAS online etc are future of this business and rest are just money sucking broking companies.

Coming to need, I need a service which should be available on mobile. Motilal Oswal and Edelweiss seems to be having good mobile trading application. Please pour in your suggestions.
 
I think you should go with the Sharekhan they're good for starters . I have not used others so can't say about them
 
It really depends what you want the trading account for. Companies like zerodha are called "discount brokerage". The real difference comes when you trade a lot on an intraday basis. But if you a delivery (ie buy and hold) then there might not be much difference - AFAIK.
 
I have a account with Sharekhan (let me clarify that I am a very very small investor). Never had any complaints about them You could give them a try.
 
I was in a similar dilemma 5 months ago
Had searched a lot about trading portals and all
Finally I chose Icicidirect, it is not so cheap but the inter relationship between the savings bank account and demat and trading portal is very good and instant, u can transfer money from saving bank account to trading account in a second.
The thing i am talking about is a 3 in 1 account if you want to search for in detail

Also other portals like sharekhan, angel broking, motilal oswal needs a saving bank account, in case you need to transact you need to transfer the amount and chargss might apply there also

So you might be saving approx 0.20% but with lot of hassles imho

E. G Yesterday Sensex dropped 500 points which might be considered a good point to invest, I transferred money to my trading account in a sec and could invest instantly

Had there been other trading portal and had i not have had enough balance i could not have been able to invest.

These are. My experiences and i would also suggest you to wait for more from experienced people
 
^ with the advent of internet banking the transfer of funds is always instantaneous for all major brokerages. As per my opinion, one should choose a brokerage which offers the best brokerage rates and good recommendations.
 
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Sharekhan doesnt charge for money transfers. They have a list of banks from where you can transfer money online. Check whether your bank is mentioned or not.
 
avi said:
Often experts have advised me that not to mix Demat with bank account
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Prolly cos banks offering DEMAT services are high on brokerage. I'm having the same issue with hdfc bank..but since I opened it years ago I didn't really have the time to change the broker service
 
The added advantage of having it with banks is that they're deemed to be generally much more secure n stable than private brokerages.

I'll admit though that even I've been contemplating moving my Demat to a private holding because hdfc's service has gone to the dogs I. Addition to being expensive with brokerages & account maintenance charges.

Any opinions on Sharekhan/SMC/LKP??
 
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