To start trading online we need a demat account and a online trading account. There are many companies offering these facilities. Although this list is not comprehensive we have tried to look at some of the big players in the field. We will also look at their charges. The charges shown may change with time, so I would suggest you to get the latest charges from the vendors themselves.
Things you should look for while going in for a demat account:
1. Annual Fee: Nearly all the demat account provider charge some fixed yearly fees.
2. Commission: Commission on buy as well as sell. Each transaction either buy or sell attract commission from your broker. This is generally some %age of the transaction value.Things you should look for while going in for a demat account:
1. Annual Fee: Nearly all the demat account provider charge some fixed yearly fees.
3. Any other charges
4. Online trading account: Check if the company provides an online trading facility. Most sites work well with Internet Explorer that is shipped with any version of Microsoft Windows. Most of them doesn't work with other browsers like Mozilla Firefox, Apple's Safari.
5. Research content: Almost all the big player give daily recommendations of buy or sell to its members.
4. Online trading account: Check if the company provides an online trading facility. Most sites work well with Internet Explorer that is shipped with any version of Microsoft Windows. Most of them doesn't work with other browsers like Mozilla Firefox, Apple's Safari.
5. Research content: Almost all the big player give daily recommendations of buy or sell to its members.
Name: Kotak Securities
Site: http://www.kotaksecurities.com/
Probably one of the oldest player in the field. Their main strength lies in the research content that they provide to their users. Account opening charges are about Rs. 750 you also get a zero balance kotak mahindra bank account with it. Brokerage for a low volume trader at 0.59 % is quite high as compared to most of its peers. There is also a deliver charge of Rs 23 for every delivery based selling. Brokerage for intraday transaction is 0.06%. The trading interface is quite powerful but is geekish. You need to know a lot of terms of trading to effectively do online trading. Exact brokerage can be found at http://www.kotaksecurities.com/accountsection/kotakgateway_id4.html#id4
Site: http://www.kotaksecurities.com/
Probably one of the oldest player in the field. Their main strength lies in the research content that they provide to their users. Account opening charges are about Rs. 750 you also get a zero balance kotak mahindra bank account with it. Brokerage for a low volume trader at 0.59 % is quite high as compared to most of its peers. There is also a deliver charge of Rs 23 for every delivery based selling. Brokerage for intraday transaction is 0.06%. The trading interface is quite powerful but is geekish. You need to know a lot of terms of trading to effectively do online trading. Exact brokerage can be found at http://www.kotaksecurities.com/accountsection/kotakgateway_id4.html#id4
Name: ICICI Direct
Site: http://www.icicidirect.com/Amongst the top trading sites, ICICIDirect probably is the only one that lets you trade in US market too. The annual maintainance charge is Rs 500. Brokerage at 0.75% is highest amongst its peers. There is demat charge of Rs 25 for every buy. Trading interface is quite intuitive it is easy to square-off a transaction intraday.
Name: Reliance Money
Site: http://www.reliancemoney.com/At the level of 0.1% brokerage is probably lowest. The interface is also good. But this account comes with prepaid plans. They do charge Rs 12 for every request places through telephone. Annual maintenance charges are very less only Rs 50. I think they will impact this industry the same way they did the mobile service industry. They also allowing trading in forex and commodities. But it has some basic functionality, like portfolio viewing, missing.
Name: IDBI Paisa builder
site: http://www.idbipaisabuilder.in/
Account opening charges are Rs, 700. Can work with only three banks, IDBI, AXIS or HDFC. Commission is comparable to others.
Name: HDFC Securities
site: http://www.hdfcsec.com/
Account opening charges are Rs 2250. Commission is 0.75% for both buying and selling with a minimum of Rs 100. More information about the account opening process can be found at http://www.hdfcsec.com/Common/NRICustomerAccount.aspx#Charges
Name: Geojit
site: http://www.geojit.com/
Rs 500 is account opening charges. Brokerages are about 0.3% for delivery based trade and 0.03% for margin trading. But their main site did not seem to work properly in Firefox.
If you think that some facts are reported wrongly or some information is missing, please feel free to comment of the post. We will try to incorporate the changes so that this post becomes useful for other.
