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ICICI direct - again sucks |
umesh1
Brown Belt
Joined: 24 Nov 2008
Posts: 1974
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Post: #16  Posted: Sun Sep 22, 2013 6:18 pm Post subject: |
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I would say go with rksv online NOW,even if you are trading 4 lots a day,about their call n trade is ok but will have to bear the delay due to client verification,i havent used it as such rest all works fine
cheers |
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #17 Posted: Sun Sep 22, 2013 6:43 pm Post subject: |
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| umesh1 wrote: | I would say go with rksv online NOW,even if you are trading 4 lots a day,about their call n trade is ok but will have to bear the delay due to client verification,i havent used it as such rest all works fine
cheers |
Thanks Umesh,
What about the options how do they charge for them. Zerodha charge brokerage only on the actual value of the option where as IIFL and others charge on the intrinsic value which will be sky high. What about RKSV?
NOW is the precise reason for me to think about RKSV. Earlier Zerodha also offered NOW and after introduction of Nest plus I migrated to Nest plus which is having more features but the time lag is more. NOW is having excellent speed and least time lag which suits for my scalping trades well. Whenever I stay in front of screen for considerable time I scalp, my trades last for few sec to few minutes. Zerodha is not allowing me to roll back to NOW. |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #18 Posted: Sun Sep 22, 2013 6:54 pm Post subject: |
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- I have often heard from ICICI online traders of having to face a disconnection / lack of connection to the ICICI terminal once in a week atleast, most times during a big movement.
- The more bigger the name, the more the advertisments, the higher the charges for it.
- I think Kotak and ICICI are of the top leage and must charge about the same for a retail trader not having a high turnover. Uptil 2 years ago I used Kotak Offline call and trade and charges varied as per lot size. For 4000 qty per lot, I use to be charged anywhere betwhere Rs.200-400 depending on the stock. I continued due to lack of knowledge and awareness.
- But happy to be with a lower brokerage charging company like Zerodha. The first 2 days watching price action live in now.exe, trading terminal, almost froze my heart... it was a slot machine 
Companies like zerodha also offer call n trade at a much cheaper rate than the named ones. As far as service is concerned, whenever I have contacted, I havent had to wait... |
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saumya12
Brown Belt
Joined: 21 Dec 2011
Posts: 1509
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| Post: #19 Posted: Sun Sep 22, 2013 8:58 pm Post subject: |
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Hi RK
IMO you need not worry for the brokerage for options, when you opt for RKSV, as the best plan for traders is to choose unlimited plan and not the default or per trade plan. Their freedom unlimited plan is for 1947 per month.
Further, you said "NOW is the precise reason for me to think about RKSV" if you are choosing RKSV for NOW, then I am sorry to say that you will have to disappointed in near future.
FYI, RKSV has started shifting their clients to their new platform which is based on Nest Trader. |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #20 Posted: Mon Sep 23, 2013 2:30 am Post subject: |
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today, my call and trade is practically free due to dedicated person....
whats NOW and NEST.....Kotak has charting facility also currently but i can shift and see charts elsewhere...including icharts...
also Kotak has one online screen ie page on web [besides software] that tells days poisitions open and current prices and "unrealised profit and loss" individually per scrip and cumulatively for all in one particular day....so u can decide very quickly and move in and out and scalp when there are gyrations...
i just want that in RSKV as well....will it be okay then
Ultimately, RSKV or Zerodha....!!! one or two deciding factors. |
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #21 Posted: Mon Sep 23, 2013 7:27 am Post subject: |
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| saumya12 wrote: | Hi RK
IMO you need not worry for the brokerage for options, when you opt for RKSV, as the best plan for traders is to choose unlimited plan and not the default or per trade plan. Their freedom unlimited plan is for 1947 per month.
Further, you said "NOW is the precise reason for me to think about RKSV" if you are choosing RKSV for NOW, then I am sorry to say that you will have to disappointed in near future.
FYI, RKSV has started shifting their clients to their new platform which is based on Nest Trader. |
Thanks Saumya yes, It’s a disappointment for me; will talk to them to find out the possibilities of retaining NOW without upgrading. |
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stevenmat
White Belt
Joined: 27 Dec 2011
Posts: 478
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| Post: #22 Posted: Mon Sep 23, 2013 9:31 am Post subject: |
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i like the title of the forum "again suck"
when were they any better... the time i started trading.. i was paying about rs 106 per lot including taxes one sided...so in effect is around rs 200 per lot..if you divide that by 50 (the lot size) = rs 4 is the addition to the premium to recover your transaction charges... I have asked icici several times.. with Rs 4 addition in premium...no customer will ever be able to trade in OTM options after the 2nd week of every month..
When i asked them this..i never got a response... Until and unless i realized one day that it is time to put an end and i closed my account... Their office here in Andheri east has such nice people.. I went in and said i want to close my account bcopz of X Y Z reason... The guy sitting there just told " You just want to close your account right... so just give me the form and leave"... Now thats what you get for paying them around 70k in brokerage over the years..
THAT'S ICICI DIRECT
cheers
stevenmat |
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pkholla
Black Belt
Joined: 04 Nov 2010
Posts: 2890
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| Post: #23 Posted: Mon Sep 23, 2013 9:33 am Post subject: |
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| saumya12 wrote: | In that case one can opt for CallnTrade, for which they will charge you extra something like 15 to 25 INR per executed trade, irrespective of quantity. It all depends on ones choice
Cheers |
Saumya: My sincere thanks for pointing out this choice which i was not aware of
Prakash Holla |
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vaishuu82
White Belt
Joined: 04 Sep 2013
Posts: 155
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| Post: #24 Posted: Mon Sep 23, 2013 9:36 am Post subject: |
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| stevenmat wrote: | i like the title of the forum "again suck"
when were they any better... the time i started trading.. i was paying about rs 106 per lot including taxes one sided...so in effect is around rs 200 per lot..if you divide that by 50 (the lot size) = rs 4 is the addition to the premium to recover your transaction charges... I have asked icici several times.. with Rs 4 addition in premium...no customer will ever be able to trade in OTM options after the 2nd week of every month..
When i asked them this..i never got a response... Until and unless i realized one day that it is time to put an end and i closed my account... Their office here in Andheri east has such nice people.. I went in and said i want to close my account bcopz of X Y Z reason... The guy sitting there just told " You just want to close your account right... so just give me the form and leave"... Now thats what you get for paying them around 70k in brokerage over the years..
THAT'S ICICI DIRECT
cheers
stevenmat |
I completely agree with you Mr.Steven even i had such experience with Icici direct. |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #25 Posted: Mon Sep 23, 2013 10:29 pm Post subject: |
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| stevenmat wrote: | i like the title of the forum "again suck"
when were they any better... the time i started trading.. i was paying about rs 106 per lot including taxes one sided...so in effect is around rs 200 per lot..if you divide that by 50 (the lot size) = rs 4 is the addition to the premium to recover your transaction charges... I have asked icici several times.. with Rs 4 addition in premium...no customer will ever be able to trade in OTM options after the 2nd week of every month..
When i asked them this..i never got a response... Until and unless i realized one day that it is time to put an end and i closed my account... Their office here in Andheri east has such nice people.. I went in and said i want to close my account bcopz of X Y Z reason... The guy sitting there just told " You just want to close your account right... so just give me the form and leave"... Now thats what you get for paying them around 70k in brokerage over the years..
THAT'S ICICI DIRECT
cheers
stevenmat |
hahaha! nice pun! It's west here vs the east, in andheri 
Frankly, with no disrespect to any staff / workers who have recently started working... but this is the attitude from MBA grads. They think they are special. Just on Friday I called my RM of Standard Chartered Bank, he said he was travelling would call back after 1 hour. I called after 3 hours and told please collect a letter from me on Saturday in regards to so and so as he lives near to me... He said yes etc.. and didn't turn up no phn call.
Last year an RM assigned for an OD account in Standard Chartered Bank at Fort, Mumbai - literally made me beg and call her multiple times to have my letter of acceptance to break the FD and assign it at a higher rate due to difference in OD Rate and FD rates!! It took her 6 months and taking of my several letters!! I have experienced many such instances in various places, even like Tata Indicom... the guy in the outlet is talking on the phone freely instead of attending in the customers in queue to pay the bill!!
On the other hand, a small savings account in a Nationalized Bank with Indian Bank is treated with utmost priority without discrimination of the weightage in balances (visibly seen in the branch). They are mostly elders, with years of working experiences.
The companies higher to pay the young and with a higher scale of pay also compared to Nationalized Banks... but it's the attitude derived from after graduating from MBA that leads us down. Sorry to say but the youth today is half worthy of the get paid in private service. |
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pkholla
Black Belt
Joined: 04 Nov 2010
Posts: 2890
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| Post: #26 Posted: Tue Sep 24, 2013 9:55 am Post subject: |
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| apka wrote: | . but this is the attitude from MBA grads. They think they are special. Just on Friday I called my RM of Standard Chartered Bank,
Last year an RM assigned for an OD account in Standard Chartered Bank at Fort, Mumbai - even like Tata Indicom... the guy in the outlet is talking on the phone freely instead of attending in the customers in queue to pay the bill!!
On the other hand, a savings account in a Nationalized Bank with Indian Bank is treated with utmost priority They are mostly elders, with years of working experiences.
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Apka: You read about high salary paid to IIM grads etc and dont realize that they are made to work like dogs, 24/7, no holiday is respected, whether Foreign Bank/ ICICI Bank/HUL etc. They are made to compete for salary increase, promotion etc hence no time for courtesy except to VVIPs like Bevda/ Mahindra/ Cyrus
You should immediately stop paying high charges to StanChart/ ICICI and instead keep 2 accounts: one with old fashioned PSU Bank for all routine work and one with OLD private bank like Karnataka, LaxmiVilasB, Ratnakar, Sangli, TamilMercB, etc for more complicated transactions. All banks are now having fast core banking solutions! (I dont gain anyway if you open account, but I can vouch for Karnataka Bank as I have banked with them for 20+ years, my family has banked with them for 60+ years)
(Why no AxisBk? no HDFCBk? They are also under pressure to perform, service is getting poorer and reports are there of accounts being hacked in Europe and looted. No such reports yet from old private banks!) |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #27 Posted: Tue Sep 24, 2013 10:14 am Post subject: |
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| pkholla wrote: | | apka wrote: | . but this is the attitude from MBA grads. They think they are special. Just on Friday I called my RM of Standard Chartered Bank,
Last year an RM assigned for an OD account in Standard Chartered Bank at Fort, Mumbai - even like Tata Indicom... the guy in the outlet is talking on the phone freely instead of attending in the customers in queue to pay the bill!!
On the other hand, a savings account in a Nationalized Bank with Indian Bank is treated with utmost priority They are mostly elders, with years of working experiences.
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Apka: You read about high salary paid to IIM grads etc and dont realize that they are made to work like dogs, 24/7, no holiday is respected, whether Foreign Bank/ ICICI Bank/HUL etc. They are made to compete for salary increase, promotion etc |
On the contrary, they get all national holidays + some 40 holidays in a year including casual, sick, planned, etc... bonuses of 1-2 lakhs. paid leaves carried over... lot of perks.
No doubt they are made to work, but so are others. Who has it easy? Even the vegetable vendor works under pressure to earn lesser. Whom to complain if your RM only doesn't respect calling back and showing up again and again. So what work are they doing. Say no, you can't come. This doesn't take effort just communication. Lot of stuff like this which shows their working style is about avoiding. Some take it up sincerely, and some in pride don't work as hard. |
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pkholla
Black Belt
Joined: 04 Nov 2010
Posts: 2890
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| Post: #28 Posted: Tue Sep 24, 2013 10:37 am Post subject: |
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Apka: I stand corrected. They have no excuse. Prakash Holla
One more thought: no one is forcing them to stay in high pressure job. |
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