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Do you Know??? What is brokerage? |
amitsaraf21
White Belt
Joined: 20 Feb 2009
Posts: 76
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Post: #1  Posted: Fri Jun 15, 2012 6:20 pm Post subject: Do you Know??? What is brokerage? |
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Apart from the statutory levies, anything that is charged by a broker from its clients is brokerage.
So here anything charged apart from.......
STT
Service Tax
Stap Duty
is brokerage.
Even the exchange fees is brokerage only. What is exchange fees is a matter between the exchange and the member.
So any charges apart from statutory levies is Brokerage.
We pay service tax on the brokerage that is being charged.
So anybody who is charging anything additional apart from brokerage in the name of transaction charges etc is nothing but charging brokerage only and can very well be termed as melafide business practice.
All of you are advised to read the brokerage very carefully.
And beware of companies claiming things like charging ZERO brokerage etc. One popular company says it charges a fixed sun of Rs20/trade but that company is charging a brokerage of Rs300/crore in hidden form.
So those who say brkerage is "ZERO" i wud say DHAng se study the brokerage details.
Your Friend
Amit Saraf
 Saavdhaan
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amitsaraf21
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Joined: 20 Feb 2009
Posts: 76
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| Post: #2 Posted: Fri Jun 15, 2012 8:48 pm Post subject: Conversation with one of the leading so called ZERO brokera |
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Conversation with one of the leading so called ZERO brokerage company.
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| Conversation with one of the leading so called ZERO brokerage company. |
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Mungerilal
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Joined: 19 Apr 2012
Posts: 27
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| Post: #3 Posted: Fri Jun 15, 2012 11:21 pm Post subject: |
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Thanks Amit,
So which is best broker with the least overhead charges?
any suggestions on that will be really helpful
Regards,
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amitsaraf21
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Joined: 20 Feb 2009
Posts: 76
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| Post: #4 Posted: Sat Jun 16, 2012 12:50 pm Post subject: one who is not into malpractices |
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| baat ye hai ki jau bhi charge kare vo transparent toh hau.
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Thasmiq
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Joined: 12 Aug 2009
Posts: 29
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| Post: #5 Posted: Sat Jun 16, 2012 10:23 pm Post subject: You got reply |
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Dear amit,
Why dont you post the reply you got from them.......Here it is........but not to offend you.... 
Disc: I am not a promoter or brand ambassador of them......but to clarify the doubt made by you and throw a little light so that everyone shall know what is truth......
And ST & PT sir...I do think that i hav not violated any ethics in posting this.....if so pls apologize me.....
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amitsaraf21
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Joined: 20 Feb 2009
Posts: 76
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| Post: #6 Posted: Sun Jun 17, 2012 12:00 am Post subject: Re: You got reply |
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| Thasmiq wrote: | Dear amit,
Why dont you post the reply you got from them.......Here it is........but not to offend you....
Disc: I am not a promoter or brand ambassador of them......but to clarify the doubt made by you and throw a little light so that everyone shall know what is truth......
And ST & PT sir...I do think that i hav not violated any ethics in posting this.....if so pls apologize me..... |
Thanks for your update and making my job easier for posting that updated pic of that conversation. But that conversation was incomplete as i was still to reply on that. And i was well expecting a solid defense from them as i am sure i am not the first one to raise this query on inflated transaction charges with them. They will try to justify those HIGH transaction charges in whatever way possible.
Also to give some more info all those who are charging any additional charges or any industry avg that they are talking about, rest of the industry also dont call themselves ZERO brokerage broking company.
So if some one is calling themselves zero brokerage, then it shud be zero brokerage.
Second, my point was never that if brokerage charged is higher than or lower than any XYZ company, it was and it is that this particular company is not a ZERO brokerage company as claimed and they are charging almost 300/crore brokerage apart from what is charged by them on per trade basis in all the exchanges and segments.
Also when a company themselves pioneers or revolutionary in low/zero brokerage they should not be comparing themselves with imaginary and false industry average of transaction charges.
I am yet to see a broker who charges Transaction charges higher than what is charged by exchanges to their members.
Finally, my only purpose for posting this was information and create awareness on this. And i hope i have been successful in this.
Cheers!
Tasmiq: Also check that if i got the reply from them till my last pic of the conversation with them, they haven't replied me till the time of my posting and they virtually walked out of a live conversation.
Baaki bhai aapko maananaa hai maano nahi maanana hai mat maano. aap koi 5000/crore vaale se uskaa compare karo yaa 500/crore vaale se, koi farak nahi padtaa, if they are charging higher or lower than anyone else out there was never my point.
Mujhe iss topic par PLEASE koi bahas nahi karni hai.
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