My experiences with the brokers in brief. I will keep the author anon
HDFC Sec: My first broker. No cheating, no calls,tips but expensive.
Ventura: A good broker but little bit expensive in terms of charges. Also, they don’t have mobile trading app for small investors. You need to buy at least 10k plan for that (which means you need to generate a brokerage of 10k in that year else balance amount is gone).
ICICI: They approached me for cheap FNO trading. I was trading 50 rupees per options lot and was looking for cheaper brokerage. The guy from ICICI who called me said he will give the rate of 35 rupees per lot. When I did my first Options transaction, then I realized that 35 is some extra charge apart from Rs. 100/- per lot for options trading taking my per lot total to 135. Also, for cash segment the charges are high. Immediately closed the account.
Angel: I used to receive 7-8 calls daily from my account dealer insisting me to trade aggressively in options (mostly Nifty). I lost some 20k in the due course out of which 8k was paid in brokerage. When I was out of funds, they started pushing me for trading in cash segment which I denied.
Nirmal Bang: Same as Angel but didn’t lose money as I rejected many calls which were suspicious. I stopped trading in FNO and withdraw all the money. There moto too was like Angel’s – keep the client busy in trading and generate maximum brokerage.
VNS Finance: This is the one which I mentioned in my previous comment. Happy till now.
Note: I am not into trading anymore (be it FNO or cash). After reading blogs like this one and many others on value investing, I am studying the same and started investing (not trading) for super long term (30 yrs and more if my Son is interested too ? ). I plan to build a portfolio which should take care of my financial life after retirement. Ideally, dividends should be sufficient for this by then is what I am planning.
It’s been over 1 year that I have kept the temptation of trading in FNO out of my mind and will continue doing that.
Tons of thanks to Subra Sir.
Post Footer automatically generated by Add Post Footer Plugin for wordpress.