03 Jun 07 Online Stock Market Trading in India
Based on my experience, here is a list of some of the best brokerage houses offering facilities for Online Stock Market Trading in India. Online Stock Market Trading has evolved tremendously in India, in the last five years. It is very convenient, comfortable and cost effective way of trading in the stock market. Feel free to share your experiences through comments
Rank 1 : Reliance Money
Rank 2 : Geojit
Rank 3 : Sharekhan
Rank 4 : Kotak Securities
Rank 5 : ICICI Direct
P.S. – I haven’t taken into account the performance / accuracy of equity research and the trading calls that some of these brokerage firms provide for free. I’ve only taken into account safety, brokerage rates and speed of execution. I’ve taken into account only the Online Stock Market Trading facility offered by the above brokerage firms. I haven’t considered their Offline Stock Market Trading facilities.
However, for investing in IPO’s I feel sharekhan is the best, since it allows clients to place orders till 2-3 PM on the final day of subscription of IPO’s.
Disclaimer : This is only my personal opinion. It shouldn’t be considered as a recommendation. Please do your own research before selecting your broker for Online Stock Market Trading.
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i m using reliance money demat account for the last 8 months. i agree with your opinion about it.
Does anyone has step-by-step instructions for trading using Sharekhan? I think an online tutorial is available for ICICI Direct. Is something like that available for Sharekhan as well?
@ Manas,
The tutorial is available on Sharekhan site. And they are providing the same in a CD also at the time of opening of account. 2 E books are also provided in the CD. This is really good.
even indiabulls offer online trading and ipo’s
Well Sharekhan is one of the good brokerage house even they provide good Trading calls i have personnally experianced them even ICICI is also one of the good online portal .
I have experianced the above both.
New born in this is Reliance Money.
what about karvy stockbroking?
I am using geojit for some time now.Quality of the web site and customer care are just ordinary.It seems that customer care people are not aware of the technicalities of stock market & also poor response time.But site is is ok if the trading volume are less.Also cheap comparing to big firms like ICICI for low volume trading.
I want to open DEMAT account can u tel pls?
I am aN NRI and member of ICICIdirect. They charge NRI 1.25 % brokerage which we NRI feel is very very high. Response to enquiries take place within 3 working days and its good. BUT BROKERAGE CHARGES ARE UNACCEPTABLE.
PLEASE RECOMMEND Online stock market traders charging less than 1% brokerage charges
Can someboy compare brokerage rates for these online trading houses. I heard icici direct is much higher as compared to others
Can somebody let me know the diffrence between
PRICE , LOW PRICE AND UPPER PRICE IN IPO scheme.
Dont ever go for ICICI Direct, I used it for 2 years, at every crucial moment their server stucks and you end up with loss (if you are doing intra day trading) , Share Khan in Good and if you are doing lot of trade then IndiaInfoline (5paisa ) is good. They charge less and service is better than ICICI.
I have been using Reliance Money for a period of time now. It seems to be the cheapest of all the Trading Houses
Many offer free one year account like dbschola and even sharekhan, icici was leader, but as said huge number made them charge more, and even server is mostly down, when sensex rises or dows steeply.
What is the brokerage charges for Geojit NRI online trading services?
Poor service, worst governance – On Line Trading account
RelianceMoney
I submitted an application for new account in my wife’s name Sou. Pushpa Vijay Phirke on 30.12.2007 with Sr. no. 0000965873 along with a cheque for Rs.750/- with a request to expedite the things so that she can subscribe to forthcoming Reliance Power issue.It was assured that the account will be activated within 10 to 12 days. I think quite sufficient time was available.
Since last 10 to 12 days I am following up with sales executive to arrange for linking of this saving account with trading account (which he promised at the time of submitting application). But he did not turn up and most of the times his cell is either switched off, out of range or not responding.
Even Thane branch telephone are either switched off or not attending.
Help desk no 39886600 is all the time busy and when gets connected there are so many instructions to dial 1 for this, then dial 2 for that. After following all the instructions the phone becomes mute. (If this the service to new customers, what will be their fate after putting hard earned money with the account? Simply not understood why this number is provided? Just to waste the time and money of customers?). At last I was fortunate to get that number on 12.01.2008. On enquiry it is learnt that my application is accepted and is in process. I was also told that I shall get account details and passwords for on-line-trading within a day or two.
Even after lapse of 4 to 5 days since I did not receive any communication. On 16.01.2008 I again tried to contact help(?)desk. But experience was none other than explained above. Thane Branch’s one phone was switched off and another was busy. Once I could contact but did not receive any response and it was disconnected. After wasting my half day and dozens of phone calls, lastly I contacted Corporate Office for the matter.
There also I was told to contact help desk. But after explaining above details one Mr. Pravin was kind enough to take the details and promised me that he will take up the matter with concerned and I shall be contacted by them with relevant details by evening. In the afternoon at 15:00 hrs one lady contacted me from no.32463208 telling that I shall get DP ID by evening.It was again explained to her that enough time is passed and now I want all the details for on-line-trading. She told that she will inquire and I shall be informed accordingly by evening. In the evening at 18:37 hrs. I received missed call from no. 32675043. On contacting back to the number one lady received the call and she told that there Representative had come to collect the documents but the same were not provided by me. I was trying to explain her that nobody has contacted me regarding the same and there should not be any reason to collect document after application is accepted and in process. The phone was disconnected during conversation and was not attended after retry. Thereafter I have not received any communication.
I am totally annoyed of these services and I requested you to activate my account at once and inform me the details today itself or refund the amount paid by me along with the compensation for the harassment caused to me and cancel my account.
I posted email on customer.grievance@reliancemoney.co.in and also to Anil Ambani, but no response and action.
Irresponsible reply from Reliance Money
Reliance Help desk User70 wrote:
Dear Customer,
This is with reference to your Query at customer support enquiring about the Application status.
We would like to inform you that your application form is under process, on successful processing of your account the welcome kit will be dispatched in ten working days.
You may quote your reference number -588609 in relation to this query.
For any further assistance please call us on 3988 6000 or write to us at customer.support@reliancemoney.co.in
Yours Sincerely,
Customer Support
Mr. Reliance Money
It seems that you have not gone through the contents of my complaint and just gave very irresponsible reply.
I am reproducing below my complaint.
In short I am not interested in your account.
I want the refund of Money paid by me along with compensation for harassment caused to me.
Reasons:
1. Abnormal delay in opening account which is still pending.
2. No response at help desk at 3988 6000. It is dead in reality.
3. Irresponsible attitude of employees and management towards prospective customer.
Please act immediately to avoid unnecessary disputes.
Pushpa Vijay Phirke
I want to know about online trading with the help of Credit Card. Is it possible.
please help me.
Please reply me on my email.
r_88singh@indiatimes.com
Dear All,
Can anyone advise about
Irresponsible reply from Reliance Money
Reliance Help desk User70 wrote:
Dear Customer,
This is with reference to your Query at customer support enquiring about the Application status.
We would like to inform you that your application form is under process, on successful processing of your account the welcome kit will be dispatched in ten working days.
You may quote your reference number -588609 in relation to this query.
For any further assistance please call us on 3988 6000 or write to us at customer.support@reliancemoney.co.in
Yours Sincerely,
Customer Support
Mr. Reliance Money
It seems that you have not gone through the contents of my complaint and just gave very irresponsible reply.
I am reproducing below my complaint.
In short I am not interested in your account.
I want the refund of Money paid by me along with compensation for harassment caused to me.
Reasons:
1. Abnormal delay in opening account which is still pending.
2. No response at help desk at 3988 6000. It is dead in reality.
3. Irresponsible attitude of employees and management towards prospective customer.
Please act immediately to avoid unnecessary disputes.
Pushpa Vijay Phirke
Can you plz provide information on account safety, brokerage rates and speed of execution and Online Stock Market Trading facility offered by the above brokerage firms.
Plz mail me the above mentioned information.
Your post is very well crafted and I have learned so much about you interests and Wilshire. I?ve added your blog to my reading material. Thanks for the information!
i have used reliance money and now with line of complaints they have surely pulled up their socks. so my experience on rmoney has beeen decent.
True, I have used reliance money and its been quite good for me.
hi friends,
could u pls tell me about brokerage for future trading.
i do ve account with icici and making a turnover of 10crores in a month, where they charge like 1 to 5cr of 0.05% and next slab of 5cr to 10cr of 0.04% which comes around Rs.40,000/- plus regulatory charges for 10cr.
i want know some other house with very least brokerage.