Tuesday, August 31, 2010

Review of Online Trading Accounts

Review on Trading/Demat Accounts:

What do you need to look for before opening Trading Account

* What is the brokerage, account opening & yearly service fee.
* What is the margin and delivery trading charges
* How much times of the buying power you can trade for margin trading
* How good is the port folio tracker?
* What’s the time-interval for auto-refreshing of live stock price applet/screen?
* Are you able to login into your account at peak hours like 9:55 am?
* Can you apply for IPOs online through your account?
* Ease of usage, how fast is the website, website downtime
* Does it have tieup with your savings bank account
* Is research data & daily/weekly stock tips available?
* Can you place the order offline

Here are reviews of few Brokerage companies:

ICICI Direct:
Brokerage: Very high -> 0.8 - 1%
Website: Decent, supported by most of the browsers, fast, less down time
Portfolio Tracker: Awesome
Pros:
Portfolio tracker is good, research data is also good.
iclick to gain & iclick to invest are good stock tips in ICICI Cirect.
It has good features like IPO order placement, F & O, Postal, Mutual Fund order placement,
offline order placement ...
Cons:
High Brokerage & service fee.

It works out very well if we have your salary savings bank account with ICICI
http://icicidirect.com


India Bulls:
Brokerage: Medium -> 0.3 - 0.5% (Negotiable)
Website: Good, fast
Portfolio Tracker: OK
Pros:
Low brokerage, website fast
Good research data
Cons:
Portfolio tracker poor

Overall its good.
http://indiabulls.com/securities/


Reliance Money:
Brokerage: Low
Website: Bad, most of the time down, not compatible with many browsers
Portfolio Tracker: Not so good
Pros:
Low brokerage & service fee
Cons:
Website most of the times down, not supported by many browsers
No good customer service
Portfolio tracker not so great
No tieups with many banks

Overall its not so good
http://reliancemoney.com/Default.aspx


HDFC Securities:
Brokerage: Medium -> 0.5%
Website: OK, Some times Site is in accessible during peak hours
Pros:
Low brokerage.
Website is fast.
Cons:
Lack of research data.
Telebroking numbers have too few extensions, so they are impossible to reach during peak times.
Customer service is not so good.
Offline order placement is not available

Its good if you have your savings account in HDFC.
http://hdfcsec.com


Motilal Oswal:
Brokerage: Low -> 0.3% delivery & 0.03% margin
Website: Good, fast
Portfolio Tracker: Good
Pros:
Low brokerage.
Website is decent.
Cons:
Portfolio tracker is OK

Overall its very good
http://motilaloswal.com/


Kotak Securities:
Brokerage: Medium -> 0.6%
Website: Good
Portfolio Tracker: Good, Tax calculation is available
Pros:
Portfolio trackes is good.
Multiday order placement.
Customer service is good.
Cons:
Little high brokerage

http://www.kotaksecurities.com/home/index.html


Sharekhan:
Brokerage: Medium -> 0.5%
Website: OK
Portfolio Tracker: Poor

Overall its OK.
http://sharekhan.com/


Geojit:

UI is bad.
http://geojit.com/


Anand Rathi:

Good research
Poor customer service, no online trading facility.
http://trade.anandrathi.com/

2 comments:

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