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POSTED BY ON January 25, 2013 1:43 pm COMMENTS (15)
Dear All
I have been looking to find the current best platform in india for equity trading, mutual funds, etfs, ipos etc etc intermans of charges, portfolip tracker, advice and all
I am using ICICIDirect but its very expensive. So wanted to get your opinion as well.
I came across fundsindia.com, they look promising but not sure of long term. basically looking for a long term platform.
Any experience, inputs is much appreciated.
Thanks
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Dear finnaive, as the messages is conveyed to you, I’m not elaborating it more. 🙂
Just do it KISS. Keep it simple silly.
Thanks
Ashal
Dear Ashal
I would probably prefer Deisel – considering my moderate run..But I am getting your point – a high volume will only realize the benefit for the small change in the brokerage which I wnt do..
so as of now, I think I will continue with ICICDirect for equities…
Thanks Ramesh
Thanks, Finnaive
Dear Finnaive, I do hope, dear Ramesh’s reply satisfies you. Regarding my own broker. I’m holding I-Direct account. I’m not writing the word, ‘ USING’ intentionally. The reason is simple, I hardly purchase 1 or 2 stocks in the whole year. In fact truthfully speaking I have not purchase any for past 2Y. Still I’m paying happily for my AMC around 500 Rs. to I-Direct.
How you are going to use this disclosure for your own benefit is up to you.
Please answer a simple question.
If given a chance in today’s market situation, what type of fuel car w’d you prefer? Petrol, Diesel, LPG or CNG?
Thanks
Ashal
Dear Ashal
ha ha, I will not ask about your equity portfolio, but can I ask which platform do you use 😉
Well, I am also looking to buy and hold shares – not do day trading..I am not sure what do you call shares buy & hold thing (equity investing or trading) !!
Regards
For buy-and-hold, how much will a difference of 20p help? (in HDFC Securities, you pay 50p + extras), while last time I had searched Fundsindia’s partner gave 30p + extras). In my view, this small difference does not matter if you are doing diligent work before buying a stock, and thinking about keeping it for long time periods. This small difference canbe easily wiped off in a matter of few minutes during a buy call.
Thanks Ashal.
Thaings are more clear now.
What are your views on equity trading with FundsIndia? Seems they offer a competitive rates with respect to ICICI or sharekhan, at the same time provides excellent web based trading platform.
Does equity/ETF trading also come with hidden strings as Expense Ratio?
Regards, Finnaive
dear Finnaive, as you used the word, ‘Eq. Trading’, yes the rates are competitive. Personally for my own money, I’m not into Trading kind thing so it does not matter to me that what’s the brokerage as I’m a buy & hold kind person.
Now do not ask me for my Eq. portfolio. 🙂
Thanks
Ashal
Dear Finnaive, Expense ratio is in simple words, the fund management charge. the various scheme related expenses are meet out from this Expense Ratio. Interestingly if you are using a broker like I-Direct or even fundsindia, a trail commission of 0.5-0.6% on your fund value is paid to the broker.
Now if you are investing directly with the AMC, this trail commission ‘ll not be there & thus you ‘ll be able to able to save a good amount of money in next 20-30 years. Sample below to understand.
HDFC Top 200 – using I-direct or fundsindia, expense ratio 1.79%
HDFC Top 200 Direct – purchased directly from AMC (HDFC), expense ratio 1.19%
On count of this trail commission, fundsindia & I-direct are common but on count of each individual SIP, fundsindia is cheaper than I-direct as there is no transaction fee in fundsindia like one in I-direct.
I’m right now out of India & not in position to visit individual AMCs for direct investing, that’s the reason I’m continuing with fundsindia for the time being.
Thanks
Ashal
Dear Ashal
Thanks…really appreciate you taking the time out to reply to my queries…i am a starter in this financial world, and do not know lot of tricks employed by companies.
So, you saying for SIPs – directly reaching out to the fund house would be the best approach…i was under the impression that doing it thru AMC or any broker is the same..the fund house give you the same plan..is it different plans??
But if you have multiple SIPs with diff AMC – how do you manage/consolidate them….i read another thread in JI where you said you also using FundsIndia…
Could you pls share some inputs?? I am definitely not going for MFs with ICICIDirect, they charge significant amount for every SIP..
BTW, what is the expense ratio??
Thanks
FinNaive
Dear Finnaive, you are giving too much importance to the brok. given by you for your Eq. P/F but you are not counting the saving on expense ratio ‘ll alone create you a big corpus if you are investing directly into MFs & not using any broker. The difference is 0.5 to 0.6% & do remember it’s on the assets of the MFs so the over all impact is very huge in the long run.
If you keep continue with your broker, who may not charge a single penny for MG transaction but ‘ll happily pocket the trail commission & thus ‘ll create a big hole into your total corpus.
Think over it.
Thanks
Ashal
Dear Ashal ,
Better u can go for ventura securites ltd, or with angels., they both are giving u the cheapest brok. staring from 0.01% for intra day and 0.10% for delivery and Rs 18 to 21 for options.. for more info u can contact me . Or you can check the rating and plans for all comapnies form here http://www.chittorgarh.com/comparebroker/sharekhan-vs-ventura/2/20/
Dear Ashal
I will not be doing high volume trading, but still if there is similar platform which offers lower brokerage charges then it may be worth looing into it..
and again on MF – though direct investment is the way out – but if you have multiple SIPs with different AMCs – consolidation becomes a hassel..so if there is a platform which do not charge anything for MFs, it may be worth
I was looking for something which consolidates my portfolio, gives a first hand update on all but still charges less…I came across fundsindia.com, but again I am not sure about its credibility. So wanted to get other investors feedback.
thanks for your inputs..
regards
finance naive
Dear finnaive, for MF investments, direct investing is the way out. Sooner or later, you ‘ll move in that direction to save on costs & thus increasing your wealth over the long term. If you are going to invest for really long term in case of direct share purchase, I’m unable to see any major impact due to brok. %age between I-Direct & Sharekhan & others.
Please try to understand, the benefit of low brok. ‘ll be there with you just like CNG kit in your car. To recover the cost of the kit & then to earn positive return, you need to run your car a lot. Here in case of shares, it translates into trading with high volume. Do you want high trading volumes? if yes is your answer, please opt from the 2 choices you are asking for.
Thanks
Ashal
Hi Ashal
Thanks for taking the time.
well, I am not really looking for the best and cheap. But a better platform with decent charges..
Charges at I-drect are really high..0.75% for delivery and 33 INR for every SIP..
so far i have come across sharekhan and FundsIndia which provide similar facilities but at a lower rate..specially fundsindia looks promising but again not sure of the reviews..
So wanted to get what people have been using and their reviews on these platforms.
Thanks
Dear Sandip, there is no platform in india which can satisfy your all needs. if it’s cheap for charges, other things are not to the point. If things are god, charges are high. By the way when you are going to invest for long term, how I-Direct is costly? I’m asking out of my curiosity only?
thanks
Ashal