Interactive Brokers is the best broker and is also offering discount broking.
Consider these charges before moving to IB
Call n Trade 2,000.00 per order (Only allowed to close a open order)
Minimum balance to be maintained: 1 Lakh
Minimum brokerage: Rs 6 per order
Minimum Monthly Brokerage: Rs 200
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Good luck, making money with Zerodha, anyways.
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I have an IB account for a while now and don’t have any complaints as such. Not exactly a substitute of Zerodha for me because I use it for different trading category. The platform is just plain awesome - simply top of the line.
Also, they ask to keep 1 Lakh in the beginning but you can withdraw 60k immediately after the account is opened. Essentially the min balance is 40k.
~ Neha (www.VRDNation.com)
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I suggest everyone to use Interactive brokers as their main broker.
Also they don’t have a forum like zer… where they delete any post that criticizes them.
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Detailed Review on IB here:
https://dailynifty.in/t/interactive-brokers-trading-investing-account-review/60
The below point is IMPORTANT when planning to daytrade with IB
https://dailynifty.in/t/interactive-brokers-trading-investing-account-review/60/13
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Can you please check if IB TWS supports this feature ?
Features look good, especially, for Options traders, but the last point is scary - can’t trade on IB holidays!
Is it true @Neha_Raghuraman? Have you witnessed this too?
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IB is an international broker with world class platform which big hedge funds and institutions use daily.
I agree! Globally it’s a well known name, but the “can’t trade on IB holidays when Indian market is open” is a massive deal breaker. Imagine, you have an open position and on such a day a big news comes up causing market to move wildly and all one can do is look at the TV helplessly". I hope it’s not true, that is why asking someone who uses IB…
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Should’nt IB have a local team in India that can allow Indian clients to trade uninterruptedly. It can become a viable alternative then…
Atleast you won’t have prop traders of your own broker take position against you like Ze…
Have seen some other users on this forum put forward this allegation before , but the Stock Market is too big to manipulate the Stop Losses of a few retail traders at a particular broker.
Not exactly retail, when you are trading hunderds of crore worth of futures.
It is true, unfortunately. Case in point, 1st of Jan 2018- Indian market was up and IB guys were closed (including call centers).
Yes, IB has something called “Chart Trader” where you can directly trade from the charts without having to touch the keyboard. I really like this feature.
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Please check http://insiderview.comparebrokerages.in/interactive-brokers-response-to-comparebrokerages-questionnaire/
Read point number 13 regarding prop trading