Hello,
I am skeptical but I would like to know about your experiences with following fixed brokerage plans.
Wisdom charges Rs 999 per year for unlimited trades.
Tradeplus charges Rs. 99 per month for unlimited trades.
Indiabulls dhanistocks is 500 Rs. unlimited per month.
Kotak FIT - Free intraday trading - Rs. 999 per year.
So what is your experience …and what is the risk …is our money safe with them or we have to very watchful as they might have creative ways to make money? @maddy_Des@ksksat@portfolioplus911
That is what my title says …please share your experience.
FYI I did go through all details you mentioned. Btw you did missed one of their higher charge which is clearing member charge - which is very high
It depends on what you want.
When I used to trade with ICICI Direct my requirement was immense leverage. They used to charge me 20 rs per lot and other charges were also higher.
As per my strategy leverage was important and such charges were okey. So I traded with them.
As soon as I got the whiff of the impeding changes I ditched them.
If you wanna save brokrage the whhy not go for finvasia.
Everything is zero there. Quite decent guys.
Ask the sustenability question to them only.
I asked them but they gave an example of facebook - i.e. Facebook is free in the hands of users but they earn money through ads and more …they also said something about exchange giving rebates to brokers …more the turnover broker brings to exchanges - more they get the rebate/incentive …They did not elaborate anything further.
Do you trade with Finvasia currently without any fear of loosing your capital or any other issues?
I always trade w/o having any fear.
I have 9 accounts with 7 brokers.
I think @nithin once talked about it. The charges get reduced with volume. The advantage of which they wont transfer to clients.
But I think they are not big enough to get such rebates.
Clearning member charges which Zerodha/Finvasia can not have because I believe they are clearing member themselves.
DP charges are based on transaction value and not a fixed amount.
They charge 2% per month for margin funding (I am not sure if they charge this against your pledged shares or against margin they provide to buy shares)
Pledge creation - 0.02% per transaction value - min. 50 Rs. – same applies to pledge closure/invocation.