Opening a new Demat account

POSTED BY VG ON August 29, 2013 11:06 pm COMMENTS (4)

Hi,

Around 1.5 yrs back I had opened a Demat account with Sharekhan. However I find their online interface extremely tedious, confusing & time consuming.

Hence I now plan to open a Demat account with some other broker, transfer all my holdings to the new account and close the Sharekhan account.

Can anyone suggest a good broker, who has a good online interface?

I like ICICIDirect.com but their charges are very high.

Here are my requirements –

1) I need a broker which allows to buy/sell all assets – Stocks/Mutual Funds/Bonds.

2) Simple & easy to use online interface.

3) No needless charges. For eg – Sharekhan doesn’t charge for purchasing MFs through them, but ICICIDirect does.

Note that I’ll be mainly investing (and not trading). So can compromise a bit on brokerage charges.

I have heard a lot about Funds India. If someone uses it, can you tell me if its good and whether it would meet my requirements (mentioned above)?

Thanks in advance.

Regards,

Vaibhav

 

 

 

4 replies on this article “Opening a new Demat account”

  1. Mohit Kumar says:
    September 6, 2013 at 7:06 pm

    You can look at Zerodha. Very low brokerage and no hidden charges.

    Reply
  2. Vaibhav Goyal says:
    August 30, 2013 at 10:05 pm

    Many thanks for your advise Atul / Ashal.

    Reply
  3. Ashal Jauhari says:
    August 30, 2013 at 11:18 am

    Dear Vaibhav, if all the things are bundled into a single package, you w’d have to compromise some where. either in the Brok. or in the user interface or in the customer service or somewhere else.

    Fundsindia’s MF platform is very good but do remember, the expense ratio ‘ll be higher as you can invest in regular plans only.

    My personal take – Use Demat account for Stocks only & invest in MFs directly with AMC.

    Thanks

    Ashal

    Reply
  4. Atul says:
    August 30, 2013 at 6:52 am

    Vaibhav,

    I have been using ICICIdirect for stock investment last 12 years and overall experience has been good.

    For Mutual funds I suggest go through individual AMC website and invest via DIRECT PLAN. One of the thing is correct NAV without any charges deduction.

    My experience with FundsIndia has been good, however recently I shifted to DIRECT PLAN on individual AMC website.

    Regards

    Atul

    Regards

    Atul

    Reply

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