iCharts Discussions

[sethu45]

Recently Religare has started imposing a charge of rs. 10/- per order as order charges offline for the orders given to the dealer subject to a max of rs.50/- apart from the regular brokerage charges and taxes as applicable. This is a ruthless action and daylight robbery. If any members aware of this or anybody experiencing this may share the views on this.

[LongView]

Nows its common in most of the brokerage firms. At present due to cutting throat competition the revenue from brokerage is continuosly declining so to make up the employee cost many brokerages introduced this call and trade charges even upto 50/- per trade by some of the firms

Now its followed by few brokers and in future more brokers will adopt the same to makeup the lost revenue.

[ProTrader]

It is quite a standard. You do self serve like McDonalds or havefull serve where a waiter takes your order and bring the dishes for you. You will pay a bit more. We should be happy that they are not adding Tips (Gratuties) on top .

--PT

[sethu45]

Protrader, I do agree and have been like mcdonalds only but due to power problem i am forced to place the other leg order with them without knowing that they are going to charge. I altered and sold 2 of the orders which they placed, they charged even for that. Any charge without intimation is not a good business practice is it not.

[smartcancerian]

In RK global or any other broker which charges very less brokerage, this charging of offline orders by them is already there...(RKG also charges per month for use of odin terminal)....Ultimately they also have to survive..Rs 10 per order = 0.20 paise movement in Nifty.. should not matter..sometimes we face this much of slippage also in execution of online orders..

[apka]

I don't know whether Religare practices the art of emailing and sending sms to clients for changes. May be you should call and find out that they did? You should consider switching if they don't.

Any company should charge like this anyway, and it should be presumed being a user. If they don't it means they have calculated the costs for staff support and spread it in their brokerage charged to an online trader. Why should I be paying their costs to maintain support staff for people who call and trade. Why should I pay for that maintenance when I don't require it? But I will pay for it when I use it. I use zerodha, their online brokerage charge is Rs.20 per trade and they charge extra Rs.20 per call.

[umesh1]

Dear all,
No matter how much you try to get the best in brokerage,there are other costs like STT,Transaction,Service tax etc which are still grey areas where they cover the remaining costs,and they vary from broker to broker and generally people think they are fixed as the broker pays the same ahead.

Cheers

[apka]

[pkholla]

Bombay HQ IIFL puts you in CDSL without informing you that you have a choice (they are also having NSDL account).
Then without informing you, they sneak in a Rs 100-500 charge PER MONTH depending on amount of your delivery based (cash scrip) trades. This charge is only detected if you inspect your ledger in their website. When asked they say this is CDSL charge. I emailed CDSL and THEY say they dont charge any such thing to be passed on to customer
When I threatened to leave, this bunch of morons disclosed that they have a Rs 600 per year flat charge scheme which I can avail of. When I opted for annual scheme on Nov 20, 2012, it was started on 1st Jan 2013
They have a default rate of Rs 200 per lot Nifty options, one way. When I protested it was cut to my liking BUT they stopped mailing me contract notes in retaliation!
For the moment this bunch of $%^&* are not tinkering with my balance but I am leaving anyway shortly as I am afraid whats in store for me
NO MATTER HOW GOOD OR BAD YOUR BROKER IS, CONSTANT VIGILANCE IS REQUIRED

[umesh1]