5 stars based on
I have recently since around months started trading with sasonline. This is across hdfc securities trading account demo segments, i. I have not availed it, but there is also a Rs. I was earlier dealing with HDFC securities 0. You can also call and trade, but I think the charges for this are higher. I have never done this. Payin is through the Atom Payment Platform Rs. They also automatically take the shares in your hdfc securities trading account demo account, and provide you collateral for margin trades, if this is interesting for you.
I checked HDFC sec it is showing 0. You mentioned only 0. I spoke with SAS people and it is definitely cheaper than Religare. They scheduled a demo and lets see how it goes. Thanks for the heads up. You are right, the card rate for HDFC securities is higher. But it is negotiable. With Sasonline, you can specify any existing depository of yours for your demat account.
You can also open a demat account with them. But to sell shares in your existing demat account, you need to senda request to your DP transferring the shares to your client beneficiary account as SAS. Basket and ordinary orders before market hours are available only in the desktop version, and yeah, it would be nice to have a GTC facility, but that is not available.
There is another online brokerage, Zerodha, which gets good reviews. I have not tried them, they charge 20 Rs. Maybe you can overcome some of these issues with them. Can I sell today and transfer the shares tomorrow? How to negotiate a better rate? They too charge 0. Shares which you purchase on sasonline, can be sold through sasonline seamlessly.
It is only shares lying currently in your DP that you need to go through the transfer process. I had an account with them, with a RM assigned, so it was easier. Even Kotak offers a 3-in-1 account, and even they negotiated down to 0. I also did this through my RM. Ultimately, I switched from both, because SAS was way cheaper, and the software more powerful. No way they are willing to negotiate on brokerage. Will try going to branch and speaking. Another thing is Religare 0. SASonline asks to have balance in account before trading, right.
Need to understand more as to how they link up demat and bank acc. Should I go for it? I like the GTC feature, good interface, free phone trading, etc. I was put off by maintaining minimum balance. Do I need to have funds in my bank account before placing order? Also I spoke with Geojit. They agreed for 0. Not sure hdfc securities trading account demo I can trust them. Commission seems very low charging only 0.
Of all the online services I have tried, it is easily the most refined. However, you do need to allocate money in your bank account before any delivery trade. This means that while it still gathers interest till the payin, you cannot use the money. Also, these guys like float. For example, if you trade derivatives, if you need to pay MTM margin in the evening, but if you have MTM margin in your favour, you only get it in the morning.
Effectively, they get free float. Also, they run great risk. You need to transfer the money to your broking account at sasonline through NEFT. You can transfer money to your broking account by Hdfc securities trading account demo transfer from your designated bank account, or through Atom, which is an online payments service. Atom charges ten rupees per transfer. After you finish trading for the day, you can request for a payout for the excess money in your account including credit from sales.
Pay out requests upto 5. If you use another bank, you get credit the next day. So with an HDFC bank account you get the float.
With other banks, they get the float. This process is simple and reliable, though a little crafty you need to log on to their back office.
The stocks you purchase with Sasonline lie in your client beneficiary account. You can sell them directly through sasonline. If you wish to transfer them to your linked demat account, you need to log on to the back office, and request transfer. It takes two days for the stocks to get credited to your demat account from your client beneficiary account.
As such,you could just keep them in your client beneficiary account, but I transfer the shares I intend to keep for a relatively long time i. Just safer that the broker does not have access to them. If you want to sell shares in your demat account, you need to send a slip to your DP mentioning that you want to transfer shares from your DP to your client beneficiary account.
In my case, the RM comes along and picks it up. But I still have to call her. So I simply keep the shares I am likely to sell in my client beneficiary account. This makes the process simpler. Thanks, your detailed reply really helps. It surprises me as well that you hdfc securities trading account demo able to carry out transaction without funds in your trading acc and you get 7 days to settle it. Let me check with IDBI guys tomorrow. Religare charges me 0.
Is it automatic or should I instruct that this portion of my balance is allocated for trading. So there is no way that I can make payment after the order is executed?
For eg, can I place orders hdfc securities trading account demo shares of ITC Rs without balance and if the order gets executed, then I make payment that day or by the hdfc securities trading account demo day? OK, so religare in effect uses your existing securities as collateral. Exactly the same system is followed by Kotak Securities too, in a 3 in 1 account. I could negotiate them down to 0. They also have a web, desktop and mobile version, though the the web version.
On your GTC orders, the money is blocked before. It still earns the 3. Otherwise there is no interest. It is immaterial what happens to other stocks after the order is executed. There is no other charge. I asked Kotak too. Declined as I will incur opportunity cost. Thanks for the patient answers to my silly queries. Hope it shows up properly. Today I hdfc securities trading account demo a demo from SASonline and found it to be satisfactory.
The brokerage rates are also cheapest in the industry. For a buy and sale order of 1 lac, it would cost me only Rs. Did you find any issue with their services and software worth mentioning? Are they trustworthy and reliable to deal with? They charge brokerage of only 0. Though it is very good for traders, investors hdfc securities trading account demo also consider as I find DIET technologically superior to most of the platforms available hdfc securities trading account demo.
Dear Ashwin I have recently since around months hdfc securities trading account demo trading with sasonline.