Cheapest Online Stock Broker In India
@MIMO_Rulz_111 (2074)
India
August 17, 2012 1:32am CST
I'm a college guy and finance happens to be my field of study. Of late I've been juggling with the idea of buying some shares. Some for holding purpose, a few to trade with. But I've very little to invest. An ideal stock broking firm for me would be one, who charges little account opening fees, low commission rate and next to nothing AMC. Is there any firm who meets these conditions?
N.B. - I'm situated at Kolkata.
2 people like this
4 responses
@srganesh (6340)
• India
17 Aug 12
don't go for cheapest brokers but look for efficient ones. each and every brokers are there to earn for themselves too and they have some hidden charges if you are insisting on cheap rates. I think you can inquire about this with your real time friends.
@MIMO_Rulz_111 (2074)
• India
17 Aug 12
Yes. Thanks for reminding me about the hidden cost stuff. You rightly said that everyone is out there to do business. They will manage to realize profits one way or the other. I'll research some more. But I think due to the competition in the business, some firms will be forced to reduce their charges. Lets see. Good day!
1 person likes this
@srganesh (6340)
• India
17 Aug 12
one more advice! if you are really interested in investment, you can go for gold ( real gold and not paper gold). you will have your thing in your hands. and you know well, gold is the universal currency.
if you are into trade, then too play with only your money and don't utilize margin amounts by the brokers.
@MIMO_Rulz_111 (2074)
• India
18 Aug 12
Gold is a great investing device. But it fluctuates a lot. Also, in recent times its price is taking the downward slide. I think it is the sign to purchase right now, as pretty soon the marriage season will come and shoot the rises through the roof. Or am I wrong? What did you exactly mean by paper gold, gold mutual funds (like Reliance) or commodity trade? Thanks for your valuable tips again! :)
@AgentGulaman (3546)
• Philippines
18 Aug 12
Are you looking for cheap fees from your broker? I am not from India, however, I know for a fact that online brokers charge smaller fees compared to real brokers. With the use of computer databases and systems, they can charge minimal fees with every transaction. I used online brokers for my trading and investing. Are online brokers available in your country? Just make sure that the choice of online broker of yours is dependent and reliable when it comes to real time trading.
@MIMO_Rulz_111 (2074)
• India
18 Aug 12
I believe online broking is available in very part of the world. I'm looking forward to online brokers only. I can use their software and advices with updated online information. Its too tough these days to transact physically, especially after the introduction of Demat. Good day!
@riyauro (6421)
• India
17 Aug 12
I have never bought shares in my life till now and I understand very less about finance in this case, I am from the field of engineering so you can understand where I come from. Now I have worked for a insurance company for some time and I know that cheap brokers are the ones with hidden charges as said by srganesh above. I went to mutual funds and then i was full of questions and there i learnt about the hidden charges. so check on every aspect before you buy a share. thanks for sharing and have a wonderful day ahead. 
@MIMO_Rulz_111 (2074)
• India
17 Aug 12
Oh yes. About the insurance companies and mutual funds, I'm aware of. They play with numbers. They put a rosy picture in front of the customer and in the backstage they are manipulating numbers, earning themselves and blaming the market. I can give you a short example of hidden cost, gold loans are a big hit nowadays. They charge just 10% interest rate. This makes the customer feel great. But when you take a loan, they'll say that its a policy to deduct first six months interest beforehand, that way you don't have to worry about the first 6 months EMI. This makes the customer even happy. As if a big burden has been diminished. But there lies the hidden cost. Suppose your loan amounts to Rs. 100 and if you pay EMI @ 10% p.a. You end up paying Rs. 10. But since you are paying Rs. 5 earlier. Your loan in theory in actually Rs. 95. So 10% of Rs. 95 should be Rs. 9.5. But you're paying Rs. 5 now and Rs. 5 at the year end. Not only you are paying 0.5 more, but on the Rs. 5 deducted earlier, you're also loosing time value of money. As you could've utilized this Rs. 5 and invest in somewhere. Thus, you end up paying @ 10.53 p.a. All numbers' game. Haha. Good day!
@yogesh2012surana (17)
• India
17 Aug 12
There is nothing as little charges (a/c opening fees, commission rate, amc). It all depends on your bargaining power. Negotiate, negotiate and negotiate more. Thats the only solution.
I have used indiainfoline and icicidirect. Found icicidirect more convenient. But thats my personal experience.
@MIMO_Rulz_111 (2074)
• India
18 Aug 12
Can A/c opening charges and AMC be negotiated? I thought they have set plans and charges for different customer needs!
