How many stock brokers you have and for what purposes?

[Pradumya]

1. Please suggest broker for FnO that also provides standard interest (3% per annum) on the margin. Meaning that it deducts margin directly from bank account.

As per Dhan pricing page
Interest Charges 0.0438% per day on outstanding MTF and non MTF debit and non maintenance of 50:50 margin.
Read for yourself as I am not into FnO - https://dhan.co/pricing/

 

[vine]

I

Trading
Fyers
Zerodha
Angel One
Kotak Neo (Dormant)
Groww (Dormant)

Investments
ICICI Direct ( IPOs and Long Term )

MFs via Fund House directly

For US Stocks and Derivatives
IND Money
Interactive Brokers

Is it easy to create account and to invest in US stocks?

 

[Pradumya]

ICICI direct has high charges. I closed mine and got Upstox

Closed one bcz of high charges and opened another with higher charges 😂

 

[Deleted member 11974]

I

Is it easy to create account and to invest in US stocks?

yes you can directly invest via gift city as well

 

[SSV]

ICICI direct has high charges. I closed mine and got Upstox. Zerodha is another good option.

You are right..
But I subscribed to 9,999 plan and it offers a bit cheaper rates..
The main reason why I keep it is , I want some full time reliable full service broker for uncertain times..ie during heavy volume and heavy volatile days…

There is a reason why these budget brokers like Zerodha survive in the market and I don’t want to discuss that in public forums like these

 

[vine]

To people with more than two stock brokers:
What's your logic? A
Are these free /zero AMC accounts?

 

[Deleted member 11974]

discount brokers have zero amc mostly
and if not cant rely on a single broker because have seen many outages by brokers in the past few months

 

[vine]

You are right..
But I subscribed to 9.999 plan and it offers a bit cheaper rates..
The main reason why I keep it is , I want some full time reliable full service broker for uncertain times..ie heavy volume and heavy volatile days…

Their is a reason why these budget brokers like Zerodha survive in the market and I don’t want to discuss that in public forums like these

IMO, ICICI and HDFC are grossly overpriced services. Unless you are a heavy trader doing everyday, one or two discount brokers should be enough.
Just asking, how frequently do these heavy volumes days happen, once or twice a year isn't it.

 

[Pradumya]

To people with more than two stock brokers:
What's your logic? A
Are these free /zero AMC accounts?

Logic is
1. To segregate portfolio basis investment or trading
2. To have a backup account in case primary broker faces technical glitches

And yes all my brokers (Groww, Dhan, Fyers) are LTF

 

[SSV]

Just asking, how frequently do these heavy volumes days happen, once or twice a year isn't it

These are enough to lose or gain huge money if you deep into the market game…

Yes you are right, generally for an average user budget brokers are more than enough…

 

[sourpai]

Reason all discount brokers are doing well and continue to do well in future is due to high trading activity by Indians in F&O segment

F&O brokerage per anum per person is way higher than AMC charges and delivery brokerage that ICICI direct / HDFC securities etc charge.

Infact full time brokers are improving due to them. Look at ICICI securities app now, way ahead of what it was just last year

 

[vine]

Logic is
1. To segregate portfolio basis investment or trading
2. To have a backup account in case primary broker faces technical glitches

And yes all my brokers (Groww, Dhan, Fyers) are LTF

Nice!
I know many charge zero for delivery , aren't you charged AMC once a year either?

 

[Pradumya]

But I subscribed to 9,999 plan and it offers a bit cheaper rates..
The main reason why I keep it is , I want some full time reliable full service broker for uncertain times..ie during heavy volume and heavy volatile days…

Sir just a question - if ICICI account is acting as a backup for you for the unexpected days, why are you paying it 10K just to avoid fraction of brokerage?
Like if you pay less fees and a little higher brokerage wouldn't it be still less than 10K and current brokerage you pay?


P.S. I have never been a user of ICICI. So no idea what other benefits it has. The views above are just from mango man perspective.

 

[vine]

Reason all discount brokers are doing well and continue to do well in future is due to high trading activity by Indians in F&O segment

F&O brokerage per anum per person is way higher than AMC charges and delivery brokerage that ICICI direct / HDFC securities etc charge.

Infact full time brokers are improving due to them. Look at ICICI securities app now, way ahead of what it was just last year

True.
I moved to Upstox after I saw the difference between ICICI direct and Upstox.
I don't do FnO trading, so it turned out discount broker is good enough for me with occasional delivery.
ICICI charges a lot more too.

 

[Pradumya]

Nice!
I know many charge zero for delivery , aren't you charged AMC once a year either?

No
Zero brokerage for delivery trades and zero account opening and zero AMC for Dhan

 

[SSV]

Sir just a question - if ICICI account is acting as a backup for you for the unexpected days, why are you paying it 10K just to avoid fraction of brokerage?
Like if you pay less fees and a little higher brokerage wouldn't it be still less than 10K and current brokerage you pay?


P.S. I have never been a user of ICICI. So no idea what other benefits it has. The views above are just from mango man perspective.

What I believe, I need one full fledged full service broker for the uncertain times for the high volatile high volume days.. this one day can ruin / make huge money if you are into this game heavily... for that purpose we need one highly reliable platform...

I dont want to discuss what could happen / generally happens duirng those days at the budget players like Zerodha.etc.....
I just dont want to ...

Regarding the fee:

Its is a one-off 9,500 subscirption fee that comes with some 22K worth free brokerage .. this should be used within 6 months..

Here are the details:







WM Account gives : Priority Circle.. means high level support..

ICICI Direcrt I value plan gives; 300 AMC...


Prime Plan 9,999 plan gives : (this I got it for 9,500 at the inital days of launch)...

 

[SSV]

Sure. It’s done online only through e-sign . But waiting for update from their side.

have you initiated your HDFC Sky closure request from this place under profile page??

 

[vine]

Ok. Now I realised after all you guys' recommendations, I confused this 'Dhan' app with the famous 'Dhani' app.
That's the reason I overlooked this one.

No
Zero brokerage for delivery trades and zero account opening and zero AMC for Dhan

Edit:
Cue
Balayya

 

[Riya]

My first broker was Sharekhan... Started traded just before covid happened.... Made some good money even with high brokerage...
Then a new kid, UPSTOX, got my attention and FnO got the better of me... Lost my capital twice... 😏
Then learnt technical analysis and psychological aspects of the market....
Doing well as of now...
Sharekhan's app is easy on eyes and user friendly
UPSTOX is being used for orders ...

 

[diptarkaroy]

Groww - Mutual funds and delivery (no issue with 4th Jun NAV)
Zerodha - for Univest
Upstox- for Liquide
Dhan- small case

Can you tell me the better option between Univest and Liquide as you are using both of these?