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POSTED BY ON July 13, 2011 7:22 pm COMMENTS (2)
Dear Friends,
I want to open an account to brokerage house and I have some queries. Please Help me. Following are the questions:
1) If I have already have a DEMAT account in a Bank then also it is necessary to open an account in Brokerage House?
2) After entry fee could Brokerage Houses take the annual charges?
3) Is there are any hidden charges?
4) How much of amount I will keep as Deposit to Brokerage House?
5) For example if I buy a 10 shares of “ABC” company (Not intraday) for 500 Rs. And I am taking the delivery of that share. If brokerage charges are 0.50 paisa then how much I have to pay?
6) Kindly suggest me good Brokerage Houses?
Thanks In Advance
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Dear Manish
Thanks for information and valuable time.
Parag
1) No there is no distinction between brokerage houses . you bank is also a broker .
2) Yes , why not . Thats why they are entertaining you , to charge in future .
3) No exactly , there are annual charges , and brokerage charges at the time of transations .
4) I dont know anything like that , what do you mean by deposit ? I think there is nothing like that , I have a ICICI demat account , which is totally empty and without any deposit
5) There are different models of charging . Generally its on the transaction amount , so if your total transaction amount is Rs 500 and brokerage is 0.5% , then its Rs 2.5 , and plus STT , it will be anywhere from 3-5 (not very sure of the exact figure)
Manish