Is Composite edge a genuine brokerage?

POSTED BY CRY ON April 6, 2013 12:03 pm COMMENTS (6)

somebody recommended composite edge as a low cost brokerage on this forum and I thought about trying them out. But their website is broken – Runs only on IE. All that I wanted was a now credential from them so I tried multiple times, from multiple machine on multiple days to fill up an application online and did not succed. Their support folks ask me to disable all the pop up blockers, add their unsigned back office site to trusted site list and allow random sites to read data that leaves user susceptible to XSS and XSRF and all kinds of web based attacks. Even weeks after complaining they have not been able to fix their site and are now asking me to send all the sensitive information by email. My antivirus screems whenever the scripts on the site start running. So I am wondering – Is it just that they have shabby programming or do they really exist? Are they a web based exploit host or a real business? Does any one here actually have a working account with them?

6 replies on this article “Is Composite edge a genuine brokerage?”

  1. Satish193 says:

    I think they have changed the plan from Rs 25/15 to Rs 18/15.

    http://theindianstockbrokers.com/compositedge-brokerage-trading-account-review/

    And as far genuineness is considered, it is better to be alert and periodically check about the complaints against your broker(whoever it may be).

    http://theindianstockbrokers.com/unicon-securities-complaints-what-if-your-broker-goes-burst/

    Satish

  2. Dear CRY, thanks to awarding ICICI securities’s promotership to me. I was not aware that I own ICICI Securities. 🙂

    I’m not into the things you are referring to lile retail bond purchase & all other HNI related things. If you are happy with your choice, so be it. Nothing wrong in your selection if you do understand what are you doing?

    Thanks

    Ashal

  3. CRY says:

    Oh, I forgot to add – A fixed cost per trade of Rs.15/25 is what the low cost brokers charge. Compare that with Rs. 500 if you buy 1 lakh worth bonds. With interest rates going down, I believe bonds are better than bank FDs. Indian bond market is illiquid so just invest only a portion that you are comfortable with holding till maturity. And that is a standard rule to invest in the bond market.

  4. CRY says:

    Ashal,
    If you just search for composite on the forum you will find all the links. I found that they are genuine in the sense I can look up their address from the NSE website. But they have very bad customer service and a broken website and I have decided not to deal with them.
    Full service brokers are soon going to get a run for their money from new online brokers running on the now platform. I have dealt with your ICICI securities – and they are no better others. They are only interested in selling their products that gives them commission and have no interest in catering your needs. Now I have to buy debt and that is a pretty straight forward investment with a fixed return. Your ICICI charges that at 0.5% which will end up being close to Rs.5000 for ever ten lakhs that you invest. And when you do it every year it adds up over time and eats up your interest income. I just don’t think that their service is worth it.

    1. Ignatius Bose says:

      CRY
      I am trading with Compositedge and have not had any issues so far. I do agree with you that if you’re trying to fill out the online KYC, you might have issues if you’re not using IE.
      The simplest thing to do would be to use the second option, download the KYC, fill it out and mail it to them. That’s what I did.
      Discount broking is a good innovation in our markets, where the other guys take us for a ride by charging us ridiculous brokerage.

  5. Dear CRY, please give me the link from the forum discussion that this site was recommended to you. Please do not fall for such things. Just leave aside this site issue for a while, how much saving you are thinking if not opting any frontline broker & going for such questionable brokers?

    In my personal capacity, it’s like Petro v/s Diesel v/s CNG kind debate. To get the benefit of lower brok. you need a high turnover & I hope you are already aware that a high turnover is not the guarantee of positive returns. So act carefully. 🙂

    Thanks

    Ashal

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