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Pincode: Brand:A leading retail stock broking brand with top of the mind recall in the stock investing population across India. We are committed to increase the brand awareness Email: across all medium and through multiple PR initiatives. Phone:

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Technology: A customer-centric focus on technology has helped us stay ahead with pioneering product launches like TradeTiger. A fully automated advanced risk monitoring system supported by an integrated back office ensure smooth transaction

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We offer a complete range of investment products that covers Equities, F&O, Commodities, Mutual Fund, IPOs, through our online platform. This will enable you to offer a 'One Stop Solution' for all stock market

needs of your customers. Click to see our entire product range >>

Robust software: Online DP access, Risk Management, Customer Information and Back office support, along with state of the art online knowledge sharing tools, maximize information availability at your fingertips.

Research: In an information-centric business like ours, knowledge makes all the difference. We deliver quality and in depth research through our Central Research team of analysts, covering fundamental and technical research, derivatives, mutual funds and IPO.

Training: Comprehensive three levels of training to the business partners at the nearest branch, at their own outlet and at the head office. Ongoing training support for the business partners as well as the employees is just a call away.

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With Sharekh Business Support: Sharing business development and business generation ideas along with planning client level events for your outlet. Better local level visibility and systems softw higher leverage on the brand processes to r

day business a wonderful. Th monitored ris Advisory Support: Access to Sharekhan research advice in real-time on Sharekhan management Trade Tiger terminal. Dedicated Advisory relationship managers to help you chart a support to gro business plan and help you in your day-to-day business as well as owning up the clients business. Any portfolios just a call awa

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functioning an driven proces Sharekhan ke C R ustomized etail Design: Expert Assistance to design your office premises customers ful synonymous with our corporate identity about its Integ Everyone is so Acquire more customers to help us gro business" with our Marketing Efforts:

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Sharekhan Ltd.: BSE Cash-INB011073351; F&O-INF011073351; CD - INE011073351; NSE ± INB/INF231073330; CD - INE231073330; MCX Stock Exchange : CD - INE261073330 DP: NSDL-IN-DP-NSDL-233-2003; CDSL-IN-DP-CDSL-271-2004; PMS INP000000662; Mutual Fund: ARN 20669. Sharekhan Commodities Pvt. Ltd.: MCX-10080; (MCX/TCM/CORP/0425); NCDEX -00132; (NCDEX/TCM/CORP/0142); for any complaints email at [email protected]. Regd Add:- Lodha iThink Techno Campus, 10th Floor, Beta Building, Off. JVLR, Opp. Kanjurmarg Station, Kanjurmarg (East), Mumbai ± 400 042, Maharashtra. Investing in equities & commodities future involves risk. Please carefully read the risk disclosure document as prescribed by SEBI & relevant exchanges a

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Why Angel?

Click Here F y The most trusted retail-centric broking house with 'Service Truly Personalized'. y Angel is among the top five broking houses in the country. y Angel was first to concentrate on retail-centric research. y Angel was first to adopt the branch concept. y Angel was first to launch the web-enabled Back Office Software for sub brokers and clients. y Angel has the highest number of registered sub-brokers on BSE and NSE. y Angel has the highest number of trading terminals (excluding e-broking terminals). y Angel has been awarded most coveted ƝMajor Volume Driverƞ award by BSE from the year 2004-05 to 2008-09. y Angel has recently been awarded two prestigious award of "Best Retail Broking House" and "Broking house with Largest Distribution Network" by Dun and Bradstreet.

To say that online investing has grown extraordinarily fast over the past couple of years is akin to describing Marilyn Monroe [ Images ] as reasonably attractive. While it may be easy to trade on the Net, finding the right online broker takes some doing.

Given that online trading is still at a nascent stage, online brokers are willing to offer many options -- brokerages that decline as volumes soar, waiver of account opening charges, access to research reports, and the facility of transacting in financial instruments through the trading website. So whom should you choose? The answer depends on a host of variables -- both qualitative and quantitative.

Qualitative factors are usually a little hard to assess and largely pertain to expectations of service standards. It helps to talk to acquaintances who trade online about the website's reliability, ease of fund transfer and transaction, and the customer service quality of the e-broker, the only human interface in the entire mechanism. Nonetheless, there are some key factors that help you compare e-brokers.

Brokerage. It's a recurring cost and can potentially draw down returns. Every player claims that his brokerage is the lowest or at least promises to charge the minimum once an investor opens an account and starts trading. But this promise is contingent on the trading volumes of the investor.

The brokerage differs from company to company. To give an indicative figure, ICICIDirect.com charges 0.75 per cent for a quarterly volume of less than Rs 10 lakh (Rs 1 million) and 0.25 per cent for an amount in excess of Rs 5 crore (Rs 50 million).

The brokerage for the quarter that follows the opening of an online trading account is determined by the opening amount of investment, irrespective of the subsequent investments in that quarter.

Any amount due to either the broker or investor over and above the brokerage paid is settled every quarter and the opening amount of the next quarter determines the brokerage that will be paid in that quarter.

While 5paisa.com has the lowest brokerage -- 0.25 per cent -- on delivery, Angel Broking offers the lowest -- 0.02 per cent -- on intra-day trading (see A Comparative Look at Online Brokers).

This does not mean that they are not charged brokerage, but alludes to a fixed brokerage fee irrespective of turnover or up to a certain turnover for a period of time: higher the investment, lower the brokerage.

For instance, Reliance [ Get Quote ] Money charges Rs 500 for delivery-based volumes up to Rs 10 lakh (Rs 1 million) for two months. If one trades with 5paisa.com for the same volume, the brokerage amount will be Rs 2,500 (at the rate of 0.25 per cent brokerage). So, at this volume, Reliance Money scores over 5paisa.com. However, the fixed brokerage of Reliance Money is higher than 5paisa.com's brokerage for investments less than Rs 2 lakh.

For onliners

y Brokerage is a recurring cost. Higher trading volume slabs attract lower brokerage. You'll also have to pay an annual maintenance charge. y Some brokers insist on a minimum transaction volume and charge their lowest brokerage for it. y Opt for the same depository and trading body to avoid delays in settlement of shares and cash. y Margin trading could attract higher brokerage than regular transactions. y Online brokers provide regular updates on market favourites. y Pick the online broker with the maximum number of collaborating banks. y Check out the website's speed and reliability, ease of fund transfer, and the e-broker's customer service quality. y The broker's infrastructure should be able to handle large trade volumes.

Account opening and maintenance costs. In order to trade, an investor needs to open two accounts with the brokerage firm - a demat account to keep the shares and a trading account to trade.

If cost is an issue, you may select Almondz, for instance, since it charges only Rs 400 for opening an account (see A Comparative Look at Online Brokers), but do not hold a demat account with one company and a trading account with another since it delays the settlement of shares and cash.

Another fixed cost is the annual maintenance charge. While some companies such as Kotak Securities have a high maintenance charge, Almondz, Religare, Reliance Money, 5paisa.com and IndiaBulls [ Get Quote ] charge nothing at all.

Minimum trade requirements. Some online brokers insist on a minimum transaction volume for which they charge their lowest brokerage. For instance, ICICIDirect.com has set its minimum transaction at Rs 500 and charges a brokerage of Rs 25 on it. Geojit Financial Services [ Get Quote ] has not fixed a minimum transaction amount, but the minimum brokerage is Rs 20.

Margin trading. This is available in the online domain and involves paying only a proportion of the trade value upfront. Such trades could attract higher brokerage than the regular transactions.

Mostly traders, who go for intraday transactions, go for this form of trading. Investors typically invest for longer periods and margin trading is not suitable for them as brokers charge huge interest on the value of the trade that is not paid upfront. Access to research. Online brokers provide regular updates on market favourites - stocks to buy, hold or sell - through the Net as well as SMS. Apart from this, a relationship manager is appointed who works as an intermediary between the investor and the broker, and plays the helpful tipper.

Investors need to remember amidst the daily onslaught of tips that too much trading does not necessarily translate into big bucks.

Tie-ups with banks. To trade with a broking company, you need to have an account with one of its collaborating banks. Typically, broking firms have fewer collaborations with public sector banks. Almondz scores above others here since it has tie-ups with numerous private sector banks and 19 public sector ones.

Apart from the charges mentioned above, an investor is required to pay the security transaction tax and service tax (including education cess of 3 per cent), which amount, respectively, to 0.125 per cent of the transaction value and 12.36 per cent of the brokerage amount. These also raise the cost of the trade. Anand Rawani, Outlook Money

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Here you will find a table comparing intraday brokerage charges and delivery brokerage charges charged by different online brokers in India : Sharekhan, ICICIdirect, Motilal Oswal, Religare, SBICAP Securities, Angel Broking, 5paisa, Indiabulls, UTI Securities, HDFC

Securities, Indiainfoline, Reliance Money

Brokerage for Brokerage for Online Broker MMC* Delivery Intraday trading

SBICAP Securities 0.50% 0.10% NIL brokerage charges

Sharekhan 0.03% - 0.50% 0.03% - 0.10% NIL brokerage charges

Motilal Oswal 0.30% - 0.50% 0.03% - 0.15% brokerage charges

5 paisa 0.25% - 0.85% 0.07% brokerage charges

Angel Broking 0.50% 0.02% - 0.03% brokerage charges

ICICI direct 0.75% 0.15% brokerage charges

Indiabulls 0.25% - 0.50% 0.05% - 0.10% brokerage charges HDFC Securities 0.50% 0.15% brokerage charges

UTI Securities 0.80% 0.15% brokerage charges

Religare 0.20% - 0.30% 0.02% - 0.03% brokerage charges

Reliance Money 0.01% 0.01% card system brokerage charges

Geogit 0.30% 0.03%

brokerage charges

Indiainfoline 0.50% 0.10% - brokerage charges

PPFAS

0.25% 0.05% brokerage charges

MMC=Minimum monthly commitment.

Brokerage is usually negotiable: Several of you trying to choose an online broker and open an online trading account must have been frustrated trying to search for the exact brokerage charges charged by various online brokers. But the fact is the brokerage charged by the same broker varies and in several cases is negotiable. For example if you go and tell a brokerage house that you are going to deposit 2 lakh rupees and try to convince them you are going to trade heavily, they might consider reducing your brokerage. That is why in the above table you will find only a range for the brokerage charges in some cases. But that should be enough to get an idea. Effective brokerage with taxes is more: In addition to the above brokerage charges you will have to pay STT (Securities Transaction Tax) at the rate or 0.02% of the total transaction amount. You will also be charged 12.5% Service Tax on the brokerage amount (and not on the transaction amount). For example, if your brokerage is 0.50% for delivery and you do a delivery transaction of Rs.100/- then the total brokerage you pay is 0.50 (brokerage) + 0.02 (stt) + 0.063 (service tax) = 0.58 . Thus your effective brokerage (including all taxes) will be 0.58%. Similarly for brokerage on intraday transactions. One may also like to compare brokerages charged by the online brokers mentioned above for trading in futures and options. For futures, some online brokers charge different brokerage for different legs of the trade, i.e. different for buy and sell trade. The information here is gathered from indirect sources. In case there are any inaccuracies please let me know by Contacting Us gel Trade Stock Trading / Demat / Brokerage HSBC InvestDirect Stock Trading / Demat /Brokerage

l Group has emerged as one of the top 3 retail broking houses in . Incorporated in 1987, it has memberships on BSE, NSE and the two HSBC InvestDirect (India) Limited (HIL) is one of the India's ing commodity exchanges in India i.e. NCDEX & MCX. Angel is also financial services organizations providing varied range of s tered as a depository participant with CDSL. through its subsidiaries to Individual and Corporate customers. listed on the Bombay Stock Exchange Limited (BSE) and N

Stock Exchange Limited (NSE). l's retail stock broking house offering a gamut of retail centric services.

HSBC InvestDirect offers various services that include equity b Ebroking wealth management, IPO distribution and portfolio manag Investment Advisory services. HSBC InvestDirect has around 240 offices in 80 cities Portfolio Management Services the country. Wealth Management Services Commodities Trading ing Platforms: l Trade provides 4 trading platforms, 2 are browser based & 2 are Trade In: BSE and NSE ication based. Online Stock Trading Platforms: HSBC InvestDirect offers 3 different online trading platforms Angel investor customers: It is a browser based trading platform. The rates are updated on clicking the refresh button. This facility ensures it is not blocked by T RT firewall. Thus it is useful for investor who needs to access 1. SmartS A information from places where firewall blocks such data. SmartStart is a powerful browser based Trading platfo beginners. SmartStart trading platform allows their inve flexibility of trading on both the NSE & BSE via a Angel Trade screen. It is a browser based trading platform. The rates are updated Features: automatically. This platform is useful for investors & traders to access market from different terminals. 1. Trade on NSE & BSE 2. Simple order entry for Equity & Derivatives Angel Diet 3. Fully Customizable display It is an application based trading platform where rates are updated 4. User friendly Get Quote screen automatically. All segments are available on a single screen. This 5. Seamless 3-in-1 proposition is ideal platform for the daily traders. 6. Live order status 7. Track your orders real-time Angel Anywhere 8. Dynamic buying power It is an application based trading platform where rates are updated 9. Works behind a Proxy automatically. This is ideal for investors & traders who are inclined 10. Back office access towards trading based on charts & technical tools. 2. SmartINVEST SmartInvest is a browser-based trading platform for cus erage and fees: who transact occasionally. It is ideal for investors who Account opening fees: in the Buy and Hold approach towards investment in e k trading account - Rs 575/- It gives the benefit of real-time streaming data w at account - Rs 200/- flexibility of trading on any Internet capable s modity trading - Rs 625/- Features: Brokerage: trade up to the range of Rs 1 - 3 Crore: 1. Instant access to account with no wait time Based: 0.50% 2. Works behind a Proxy trading: 0.05% 3. Live Streaming quotes atives: 0.05% 4. Multiple Watch lists 5. NSE & BSE Access rade more than Rs 3 Crore, brokerage is about 0.03%. 6. Single order form for Cash and FnO t the procedure to open an account. 7. Point and Click order entry 8. Hot Key Functions ntages of Angel Trade 9. Back Office access User friendly browser-based / application based online trading 3. SmartTRADE orm. SmartTrade is an EXE based desktop software design The auto square off time is at 3:15 and an investor can buy up to 4 active traders who transact frequently to capture sho s the value in his account. price movements. This platform gives more perso Trading account can be linked with popular private banks like investment options to the investors. Following are few p C Bank, ICICI Bank, UTI bank etc. features of SmartTrade a Trading is available in both BSE and NSE. dvantages of Angel Trade Features: Online money transfer from trading account to bank account not available: 1. Fully Customizable display ing account can be linked with popular private banks like HDFC Bank, 2. Dynamic Charts with Indicators I Bank, UTI bank etc. A trader can transfer money from his bank to the 3. EOD Charts ng account online. But the reverse transactions are not yet available 4. Real-Time market data e. 5. Advanced Alert capabilities 6. Live order status

means money, a trader gets after selling shares doesn¶t get credited in 7. Track your orders real-time ank account directly. The trader has to call Angel Trade and request 8. Real time position updates the deposit. This takes couple of working days. 9. Dynamic buying power 10. Message window docking Useful links about HSBC InvestDirect way angel trade is kind of behind with ICICIDirect where 3 accounts 1. Website: http://www.hsbcinvestdirect.co.in k account, trading account and demat account) are connected so 2. FAQs:http://www.hsbcinvestdirect.co.in/hsbc- lessly that no manual interfere requires. In ICICIDirect, a trader gets webapp/OnlineTrading/Forms/FAQ.jsp oney back into his ICICI Bank account as soon as the trader settle 3. Phone: +91-22-30637777 . 4. Toll Free: 1800-209-4477, 1800-22-4477 5. E-Mail: [email protected]

Angel & HSBC

IDBI & Religare

Geojit & Networth

Motila Oswal & HDFC

ICICI & Indiabulls

Stanchart & Reliance Money

Kotak & PPFAS

There are more than 8,000 SEBI registered brokers and sub-brokers, all providing a similar service, i.e., bu large number, it would be very difficult for you to find the right broker. You must, hence, look for the followin

1. Reputation: Broking is a business that requires a low capital base. An individual/corporate/institution c National Stock Exchange (NSE) with a net worth of 100 lakhs. No wonder, the number of brokers has grown with a broker who has a good reputation. This is broadly reflected in the past record and the credibility tha broker protects the investor from default risk, fraud and other financial risks. Several institutional brokers hav these are,¶ ICICI Securities¶,¶ HDFC Securities¶, µMotilal Oswal Securities¶ etc. 2. Flexibility: The stock exchanges follow the T+2 settlement schedule. This means that settlement o Hence, if you decide to buy shares on a given day, you must submit the cheque to the broker well in advance, the exchange. Some of the brokers do provide flexibility in terms of payments made, while others ask for an u allow margin based trades and square off of positions in intra-day transactions. Ideally, you must check with available. 3. Broking rates: As per SEBI guidelines, a broker can charge a maximum of 2.5 per cent of the conside charged by most, ranges from 0.20 to 0.75 per cent for delivery based and .001 to .05 for intraday. Broker reduces the realization from sale of securities. You must therefore check the rates charged. Sometimes, a mi irrespective of the value. Brokers also provide competitive rates to the high value investors and to regular trade 4. Different modes of transactions: An investor can buy or sell securities, either by phone, by giving an o personal visits. The broker identifies transaction done on telephone by an alphanumeric code allocated to the conducted by using a user id and password on the broker¶s website. This is basically a unique identificatio mechanism. Service Quality: Service quality of the broker is another important determinant. For instance, how fast a brok his service standards. Since markets operate on a real time basis, at times, small delays result in financial losse of security by the broker to the client account, settlement of funds, timely dispatch of contract notes, providing

Selecting a depository participant (DP): Gone are the days when shares were bought and sold in physica transacted in electronic form, which is made possible by the process of dematerialisation (demat). A demat acc in electronic form. Just like a bank account is opened with a bank, a demat account is opened with a Depositor by law in India to open demat accounts and are agents of the depository, acting as intermediaries between y works on a book entry form where shares are debited and credited as and when clients buy or sell. A buy tra sell transaction leads to a

There are more than 250 DPs registered with two depositories in India, which are NSDL (National Secu (Central Depository Services Limited). Once again, due to this high number, you must filter the right choi

There are several kinds of DPs operating in the market. They can be broadly classified as follows:

1. Banks working as DPs such as HDFC Bank, ICICI Bank, UTI Bank and several PSU Banks. 2. Custodians such as Stock Holding Corporation of India Ltd., Infrastructure Leasing and Financial Serv 3. Brokers acting as DPs like ShareKhan, Motilal Oswal, Anand Rathi etc. 4. Others would include Indiabulls and Foreign Banks

How to select a DP of your choice: You need to keep the following in mind while selecting a DP: a. Reputation: Three leading DPs in India in terms of number of demat accounts are ICICI Bank, Stock HDFC Bank. Though there is no method available to grade DPs, certain past events give a fair idea of th inspections in the IPO scam in 2006, some DPs were found to be following unfair practices and consequently events may be used as benchmarks for reputation. Also, you should check whether the DP follows the guide opening your demat account. The web page of NSDL and CDSL provide FAQs for investors in this regard. b. Cost: With effect from 1st April 2007, SEBI has made it mandatory for DPs to display the charges th website. This is updated twice a year so that you can analyse the charges of different DPs. Some standard char 1. Annual Maintenance Charges 2. Charges for debit in demat account 3. Demat and remat charges 4. Charges for pledge of securities It is important for you to know that now DPs are not allowed to charge for opening accounts, cred accounts from one DP to another, if the account is in the same name. Further, some broker DPs, don¶t However they club these charges along with brokerage. You must therefore clarify with broker DPs reg

c. Accessibility: Since you get only two days to transfer shares from your account to the broker¶s acco whether the DP is easily accessible or not. Investors who have opened demat accounts with DPs, who are electronic transfer of shares, can avail of this facility. This means that you need not visit the DP¶s office person slip meant to transfer shares from your account to the broker¶s account. It would therefore be better if yo electronic transfer facility and are not well spread geographically.

Need for a banking account: Transactions involving shares require movement of money in and out of you mandatory along with broking and demat accounts. You may use your savings account for purchase and sale o details in your demat and

Three-in-One demat account: Some brokers and banks offer a ¶Three In One¶ demat account, where you op with the same entity, in case of a bank DP. Elsewhere, if the DP is a broker, an existing bank account can b One¶ account. This ensures easy transfer of funds. However, in some cases the brokers insist on opening a b they often have tie ups with that bank. These accounts or tie ups are beneficial as they provide a one stop solu and unnecessary paper work. This has also proven to be cost effective. E-trading platforms are also availabl account¶ facilities are available. This facility is majorly given by banks s

Requirements for opening a demat account: The following documents are required to open a demat account:

a. Proof of residence (NSDL and CDSL provide a list of acceptable documents as POR which include e driving licence etc.) b. Proof of identity (PAN card is mandatory) c. Bank account details (A cancelled cheque for capturing MICR) d. Nominee details

Bank account details must get properly captured in a demat account as benefits like dividend and interest are directly you make an application for an IPO, you receive a direct credit in your account to the

Requirements for opening a broking account: The following documents are essential to open a broking acco a. Proof of residence (A list of acceptable documents provided) b. Proof of identity (Since PAN is must, it is used as POI) c. Bank account details (cancelled cheque for direct debits and credits) What will happen if my DP goes bankrupt In a rare event of your DP going bankrupt or closing its operations, the interests of the investors will be investor will be given an option of either transferring the securities to a new DP or rematerialize the securities.

Online Broker Selection Starting investments: Once you are through with this paper work, you are ready to start investing. Buying an from 9: 00 a.m. to 3:30 p.m. on all working days. Stock exchanges don¶t work on Saturdays, Sund

tock Trading /Demat /Brokerage PPFAS (Parag Parikh Financial) Trading/ Dema

PPFAS offers you a pure delivery based trading platform through on k Securities Limited, the leading stock broking house of India is low cost. Our Company is not impersonal like other online brokerag ahindra Bank. Company offering includes stock broking through or visit us for help or advice. The online platform of PPFAS may not estments in IPO, Mutual funds and Portfolio management service. for Futures and Options trading as PPFAS offers online brokerage s nagement services to high net worth individuals and corporate transactions. PPFAS believes that Futures and Options carry inhere also distributes a range of financial products, including company this segment can be done only over the phone. Further margins cha , initial public offerings, secondary debt, equity, and small savings than the minimum prescribed by the exchange. This is to prevent fo transactions in volatile markets.

Account Opening d by the company are available though its internet portal. In early axo's global trading platform in India. This platform provide direct Client can open an online trading account from anywhere in India. nd REITS spanning 24 stock exchanges across the USA, Europe,

Multiple banks to transfer funds ate member of both Bombay Stock Exchange (BSE) and National You will have options of multiple banks to transfer funds like ICICI B rrently, Kotak Securities is one of the largest broking houses in Bank. This is unlike the bank promoted brokerage firms ICICIDirect l reach. which restrict it to the parent bank.

Attractive Brokerage

Attractive brokerage rates: 0.25% vs. 0.50% to 0.75% charged by nt types according to users requirement: Further this discounted rate comes to you regardless of volumes. W commitments. Some brokers offer lower rates only to people who d transactions. We are however not in the business of providing virtua account is specially made for those investors who are averse to card kind of brokerage. e high volumes in futures and options. Free of cost - Diet Software for Online trading ced in this account as account is mainly focused on derivative Apart from using online version of IBT, clients get software (DIET) f has dedicated teams for technical and derivative analysis. Kotak¶s companies charge 700-2000 for the software + 150-900 depending lyzes various parameters of derivative data, so investor need not

on data analyzing. An investor gets access to both dealers and Research Recommendations n speak to them directly via phone/chat. This opportunity gives e rationale behind a particular position or strategy at all times, Clients benefit from the published research of PPFAS. Clients can a es and know details on market movements etc. In Super team and seek guidance on their portfolio. t an investor also will be able to use advanced strategies. Kotak¶s ategies to their investor¶s positions where the risk return ratio is Other Benefits

Quick assistance to clients who need help available otak securities Super Derivatives account with minimum amount Clients can make their own decisions and take actions quic gin, by way of cash or stock. For Derivative brokerage - Futures is Payouts takes play directly to your account. nd for Derivative brokerage - Options is 0.05% or Rs 150 per Clients have an option of dealing over the phone in case of is higher (both sides). Delivery Brokerage is 0.45%. Depository Services

ue Online Trading Account which provide investment planning in ge Traded Funds), Equities and Mutual Funds to their customers. You will be able to keep track of your broking account and dem tual fund schemes that will invest the money collected from their same roof. d gold bullion. es the recommendation according to investor's risk capability and You will be enjoying the following benefits of opening demat accoun inimum investment of Rs 5000 required for AutoInvest account.

. Maintaining demat account with us will be very cost effectiv

Rs. 13/- per transaction. ount opens the gateway to a world of investing opportunities for . You do not have to give delivery instructions as you ateway user can trade anywhere, anytime using internet. Kotak executing POA (Power of Attorney) in favour of PPFAS for sale tran trade facility. . You do not have to keep track of maintaining collatera

department will take care of the same on your behalf. vide SMS alert, research report, free news and market updates to . You will be able to track your stock as at the time of exe . Best feature of Kotak gateway is call and trade facility. Anybody automatically check the availability of balance in your demat accou Gateway account with any amount between Rs 20,000 to 5, fear. e in form of cash deposit or the value of the shares you buy. . You will be able to view online your stock balance along harged based on the account type. For intraday trading brokerage website. . You will be intimated by NSDL of any debit transaction in y or less then 25 lakhs and .023% for more then 25 crores. of credit effect against corporate action like bonus, stock split, merg

if any in your account through SMS. rcle le is the premium investment account offed by Kotak Securities. Brokerage Charges Gateway account benefits Kotak provides independent market ort through a dedicated relationship manager and a dedicated http://www.ppfas.com/pdf-docs/products-services/stock-broke esk which provides assistance in opening accounts, handling day- nd more. They provides KEAT premium which is an exclusive you monitor what is happening in the market and view your gains me.

Kotak Privilege Circle account with any amount more than Rs. n, by way of cash or stock. For intraday trading brokerage is .06% hen 25 lakhs and .03% for more then 25 crores.

accounts, Kotak Securities also provide following accounts:

dom for Mutual Fund Investments. r Saver, a Flat Brokerage and a Low Margin account. olio Management Service), an account for people who need an eir investments. t, a online trading an investment account for NRI investors. ning fees:

g, Kotak brokerages are from 0.02% to 0.06% both sides. g, Kotak brokerages vary from 0.18% to 0.59% based on the brokerage rate offered by Kotak om/supertrader/lowbrokerage/lowbrokerage.html rities Online Trading

rtal company provides a single platform for investments in equities, derivatives. Available margin can be used for any of the three ing platform provided by the company allows direct access to spanning 24 stock exchanges across the USA, Europe, Asia and any launched an interesting µSmart Order¶ feature to its online g an order to buy or sell stocks at BSE and NSE, customer can selected, this option offers customers the best available price s option is available to all the customers of the company. s a Call & Trade facility to its customers wherein they can place h phone when they are away from home. rovide daily SMS alerts, market pointers, periodical research tions etc. lusive online tool to monitor what is happening in the market and /losses in real-time. hat helps customers to resolve issues faster. ve Citibank, HDFC Bank, UTI Bank and Kotak Mahindra Bank as ading account. Investors holding account with these banks can e account with Kotak. urities Online Trading nse time. trading portal is not available.

IDBI & Religare Motila Oswal &

iance Money

Geojit & Networth

lls

http://www.theequitymarkets.com/brok_hs_kotak.htm http://www.theequitymarkets.com/brokerage%20charges.htm http://www.theequitymarkets.com/brok_hs_angel_hsbc.htm http://www.theequitymarkets.com/brok_hs_icici_ibulls.htm http://www.theequitymarkets.com/brok_hs_idbi_religare.htm http://www.theequitymarkets.com/brok_hs_angel_hsbc.htm http://www.theequitymarkets.com/choosing_a_broker.htm Comparison of Brokers in India

A comprehensive report on major

Stock Broker brokers (BSE and NSE) comparing details such as Choosing A Broker demat account opening fees, Online Broker Selection brokerage charges, annual Online Trading Tips maintenance charges,

Demat Account supported browsers,

features etc. Demat Account Charges

When opening a Brokerage Houses new demat account with a Brokerage Structures of Major Broking Houses In India broker negotiate and try to get Broker Comparison some of the charges waived

off.

Angel Broking

Account Opening Charge (AOC): Rs 740 Annual Maintenance Charge (AMC):

1st year free. Rs 300 2nd year on. Brokerage : 50p (deliveryÁ), 10p (intra-day). Rate negotiable for bulk orders.

Bonanza

Account Opening Charge (AOC): Rs 888 Annual Maintenance Charge (AMC): Nil. Brokerage : 25p (deliveryÁ), 5p (intra-dayÁ).

Canmoney

Account Opening Charge (AOC): Rs 500 Annual Maintenance Charge (AMC): 1st year free. Rs 200 2nd year on. Brokerage : 0.35% (deliveryÁ). Buy - Nil, Sell - 0.05% (intra-day) (Min Rs 20; Max Rs 500). Enquiry: 1-800-220-369

Geojit BNP

Paribas

Account Opening Charge (AOC): Rs 650 Annual Maintenance Charge (AMC): Rs 300 Brokerage : 0.30% (deliveryÁ). 0.03% (intra-day) Browsers: IE 6.0+ Enquiry: 1-800-425-5501

HDFC Securities

Account Opening Charge (AOC): Rs 799 Annual Maintenance Charge (AMC): 1st year free. Rs 500 2nd year onwards. Brokerage : Higher of Rs 25 or 0.5% of transaction value (delivery). Higher of Rs 25 or 0.1% of transaction value (intra-day). Browsers: IE 5.0+, NN 8.1+ and FF 1.5+ Enquiry: 1-800-209-9700

ICICI Direct

Account Opening Charge (AOC): Rs 975 Annual Maintenance Charge (AMC): 1st year free; Second year on Rs 500 (paper statements), Rs 450 (email statements) Brokerage : Higher of Rs 25 or 0.75% (delivery). Higher of Rs 15 or 0.05% of transaction value (intra-day).

IDBI

Paisabuilder

Account Opening Charge (AOC): Rs 499 (basic plan), Rs 700+ (turnover based plan) Annual Maintenance Charge (AMC): 1st year free; Second year on Rs 350 Brokerage : 0.65% (delivery), 0.06% (intra-day). Browsers: IE 6.0+ Enquiry: 1-800-223-366

Indiabulls

Account Opening Charge (AOC): Rs 900 Annual Maintenance Charge (AMC): Nil Brokerage : 0.35% (delivery). 0.05% (intra-day).

India Infoline Account Opening Charge (AOC): Rs 555 (waived off for employees of MNCs) Annual Maintenance Charge (AMC): Nil Brokerage : 25p (delivery). 5p (intra-day).

Kotak Securities

Account Opening Charge (AOC): Rs 750 (Rs 250 credited in new account) (waived off for employees of MNCs) Annual Maintenance Charge (AMC): Rs 360 Brokerage : 0.59% (delivery). 0.6% (intra-day). Browsers: IE 6.0+ Enquiry: 1-800-209-9191, 1-800-222-299

Motilal Oswal

Account Opening Charge (AOC): Nil. Annual Maintenance Charge (AMC): 1st year free. Rs 100 2nd year on. Brokerage : 0.3% (delivery). Buy - Nil, Sell - 0.05% (intra-day).

Networth Direct

Account Opening Charge (AOC): Rs 250. Annual Maintenance Charge (AMC): Rs 400. Brokerage : 0.5% (delivery). 0.05% (intra-day). Browsers: IE 6.0+ Enquiry: 1-800-220-223

Reliance Money

Account Opening Charge (AOC): Rs 750 (waived off for employees of MNCs) Annual Maintenance Charge (AMC): Rs 200 Brokerage : 1p (delivery and intra-dayÁ).

Religare

Account Opening Charge (AOC): Rs 500 Annual Maintenance Charge (AMC): Rs 250 Brokerage : 0.3% (deliveryÁ). 0.06% (intra-day) 0.06% (futures). Browsers: IE 5.5+ Enquiry: 1-860-258-8888

SBI

Account Opening Charge (AOC): Rs 400 Annual Maintenance Charge (AMC): Rs 400 Brokerage : 0.5% (delivery). 0.15% (intra-day). Browsers: IE 6.0+ and FF 1.5+ Enquiry: 1-800-223-345

Sharekhan

Account Opening Charge (AOC): Rs 750 Online, (Rs 500 Offline, plus Rs 160 franking charge) Annual Maintenance Charge (AMC): 1st year free. Rs 300 2nd year onwards. Brokerage : Higher of 0.5% or 10 paise/share (delivery). Higher of 0.1% or 5 paise/share (intra- day).

SMC India

Account Opening Charge (AOC): Rs 499. Annual Maintenance Charge (AMC): Nil (till March 2010). Brokerage : 0.3% (delivery). 0.03% (intra-day).

Ventura

Account Opening Charge (AOC): Rs 3500 Annual Maintenance Charge (AMC): 1st year free; 2nd year on Rs 400 Brokerage : 0.2% (delivery). 0.03%(intra-day).

Way2Wealth

Account Opening Charge (AOC): Rs 350. Annual Maintenance Charge (AMC): Rs 300. Brokerage : 0.5% (delivery). 0.05% (intra-day). Browsers: IE 6.0+ Enquiry: 1-800-425-3690

http://www.theequitymarkets .com/broker_comparison.htm Brokerage firms are the business entities that deal with stock trading. India, with an increasing capital market and a growing number of investors, has a number of brokerage firms. In Indian retail brokerage industry, the brokerage firms primarily work as agents for buying and selling of securities like shares, stocks and other financial instruments and earn commission for each of the transactions. There are plenty of brokerage firms in India. Let's have a look at the top 10 brokerage firms in India.

Before talking anything about top brokerage firmsin India, let's have a glance at the Indian retail brokerage market, which is going through a wonderful phase with high growth rate. The total trading volume of the Indian brokerage companies stood at US$ 1239.1 billion in the year 2004, which increased to US$ 1492.1 billion in 2005. It is further expected to reach US$ 6535.7 billion by the year 2015.

List of Top 10 Brokerage Firms in India

Among all the Indian brokerage companies, the top 10 Brokerage Firms in India can be listed as below:

Name Kotak Securities Limited Terminals 4320 Sub Brokers 910 No. of Employees 4008 No. of Branches 350 Name Karvy Stock Broking Limited Terminals 1700 Sub Brokers 19000 No. of Employees 3910 No. of Branches 581 Name Indiabulls Terminals 2876 Sub Brokers NA No. of Employees 5873 No. of Branches 522 Name IL&FS Investmart Limited Terminals 1644 Sub Brokers NA No. of Employees 1900 No. of Branches 294 Name Motilal Oswal Securities Terminals 7923 Sub Brokers 890 No. of Employees 2193 No. of Branches 63 Name Reliance Money Terminals 2428 Sub Brokers 1494 No. of Employees 2037 No. of Branches 142 Name India Infoline Terminals 173 Sub Brokers 173 No. of Employees NA No. of Branches 605 Name Angel Broking Limited Terminals 5715 Sub Brokers NA No. of Employees 284 No. of Branches NA Name Anand Rathi Securities Limited Terminals 1527 Sub Brokers 320 No. of Employees 4566 No. of Branches 220 Name Geojit Terminals 627 Sub Brokers 247 No. of Employees 343 No. of Branches 314

Alphabetical list of Companies

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Broking Insights

The Indian broking industry is one of the oldest trading industries that has been around even before the establishment of the BSE in 1875. Despite passing through a number of changes in the post liberalisation period, the industry has found its way towards sustainable growth. With the purpose of gaining a deeper understanding about the role of the Indian stock broking industry in the country¶s economy, we present in this section some of the industry insights gleaned from analysis of data received through primary research.

For the broking industry, we started with an initial database of over 1,800 broking firms that were contacted, from which 464 responses were received. The list was further short listed based on the number of terminals and the top 210 were selected for profiling. 394 responses, that provided more than 85% of the information sought have been included for this analysis presented here as insights. All the data for the study was collected through responses received directly from the broking firms. The insights have been arrived at through an analysis on various parameters, pertinent to the equity broking industry, such as region, terminal, market, branches, sub brokers, products and growth areas.

Some key characteristics of the sample 394 firms are:

y On the basis of geographical concentration, the West region has the maximum representation of 52%. Around 24% firms are located in the North, 13% in the South and 10% in the East y 3% firms started broking operations before 1950, 65% between 1950-1995 and 32% post 1995 y On the basis of terminals, 40% are located at Mumbai, 12% in Delhi, 8% in Ahmedabad, 7% in Kolkata, 4% in Chennai and 29% are from other cities y From this study, we find that almost 36% firms trade in cash and derivatives and 27% are into cash markets alone. Around 20% trade in cash, derivatives and commodities y In the cash market, around 34% firms trade at NSE, 14% at BSE and 52% trade at both exchanges. In the derivative segment, 48% trade at NSE, 7% at BSE and 45% at both, whereas in the debt market, 31% trade at NSE, 26% at BSE and 43% at both exchanges y Majority of branches are located in the North, i.e. around 40%. West has 31%, 24% are located in South and 5% in East y In terms of sub-brokers, around 55% are located in the South, 29% in West, 11% in North and 4% in East y Trading, IPOs and Mututal Funds are the top three products offered with 90% firms offering trading, 67% IPOs and 53% firms offering mutual fund transactions y In terms of various areas of growth, 84% firms have expressed interest in expanding their institutional clients, 66% firms intend to increase FII clients and 43% are interested in setting up JV in India and abroad y In terms of IT penetration, 62% firms have provided their website and around 94% firms have email facility

Terminals

Almost 52% of the terminals in the sample are based in the Western region of India, followed by 25% in the North, 13% in the South and 10% in the East. Mumbai has got the maximum representation from the West, Chennai from the South, New Delhi from the North and Kolkata from the East. Mumbai also has got the maximum representation in having the highest number of terminals. 40% terminals are located in Mumbai while 12% are from Delhi, 8% from Ahmedabad, 7% from Kolkata, 4% from Chennai and 29% are from other cities in India.

Branches & Sub-Brokers

The maximum concentration of branches is in the North, with as many as 40% of all branches located there, followed by the Western region, with 31% branches. Around 24% branches are located in the South and East constitutes for 5% of the total branches of the total sample.

In case of sub-brokers, almost 55% of them are based in the South. West and North follow, with 30% and 11% sub-brokers respectively, whereas East has around 4% of total sub-brokers.

Financial Markets

The financial markets have been classified as cash market, derivatives market, debt market and commodities market. Cash market, also known as spot market, is the most sought after amongst investors. Majority of the sample broking firms are dealing in the cash market, followed by derivative and commodities. 27% firms are dealing only in the cash market, whereas 35% are into cash and derivatives. Almost 20% firms trade in cash, derivatives and commodities market. Firms that are into cash, derivatives and debt are 7%. On the other hand, firms into cash and commodities are 3%, cash & debt market and commodities alone are 2%. 4% firms trade in all the markets.

In the cash market, around 34% firms trade at NSE, 14% at BSE and 52% trade at both exchanges. In the equity derivative market, 48% of the sampled broking houses are members of NSE and 7% trade at BSE, while 45% of the sample operate in both stock exchanges. Around 43% of the broking houses operating in the debt market, trade at both exchanges with 31% and 26% firms uniquely at NSE and BSE respectively.

Of the brokers operating in the commodities market, 57% firms operate at NCDEX and MCX. Around 20% and 21% firms are solely in NCDEX and MCX respectively, whereas 2% firms trade in NCDEX, MCX and NMCE.

Products

The survey also revealed that in the past couple of years, apart from trading, the firms have started offering various investment related value added services. The sustained growth of the economy in the past couple of years has resulted in broking firms offering many diversified services related to IPOs, mutual funds, company research etc. However, the core trading activity is still the predominant form of business, forming 90% of the firms in the sample. 67% firms are engaged in offering IPO related services. The broking industry seems to have capitalised on the growth of the mutual fund industry, which was pegged at 40% in 2006. More than 50% of the sample broking houses deal in mutual fund investment services. The average growth in assets under management in the last two years is almost 48%. Company research is another lucrative area where the broking firms offer their services; more than 33% of the firms are engaged in providing company research services. Additionally, a host of other value added services such as fundamental and technical analysis, investment banking, arbitrage etc are offered by the firms at different levels.

Of the total sample of broking houses providing trading services, 52% are based in the West, followed by 25% from North, 13% from South and 10% from the East. Around 50% of the firms offering IPO related services are based in the West as compared to 27% in North, 13% in South and 10% in East. In providing mutual funds services, the Western region was dominant amounting to 49% followed by 27% from North; The South and the East are almost at par with 13% and 11% respectively.

Future Plans

68% of the firms from the sample have envisaged strategies for future growth. With the middle class Indian investor as well as foreign investor willing to invest in the stock market, majority of the firms preferred expansion of institutional and the Foreign Institutional Investor clients in their areas of growth. Around 84% have shown interest in expanding their institutional client base. Nearly 51% of such firms are located in the West, 25% in North, 15% are from South and 9% from East. Since the past couple of years, India, along with Korea and Taiwan, has been one of the preferred destinations for the FIIs. With corporate restructuring, rising market capitalisation and sectoral friendly policies helping the FIIs, more than two thirds of the firms are interested in increasing their FII client base. Amongst these firms, West again has maximum representation of 53%, followed by North with 22%. South has 15% firms and East makes up for 9%.

Number Total Sub No.of Company Name of City Terminals Brokers Employees Branches Karvy Stock Broking Limited 477 15000 4500 550 Hyderabad

Angel Broking Limited 5081 2408 1800 66 Mumbai

Peerless Securities Limited 36 1000 73 18 Kolkata

Anagram Securities Limited 999 964 1183 139 Mumbai

SMC Global Securities Limited 3231 800 1000 800 New Delhi

UAE Exchange & Finance Limited 40 700 1890 210 Kochi

Motilal Oswal Securities Limited 4179 638 2000 60 Mumbai

ICICI Securities Limited 1051 587 1833 270 Mumbai

Bonanza Portfolio Limited 2177 536 1200 380 Delhi

Asit C. Mehta Investment Interrmediates 713 320 350 18 Mumbai Limited

Sykes & Ray Equities (India) Limited 18 300 50 250 Mumbai

ASE Capital Markets Limited 471 200 50 1 Ahmedabad

Kantilal Chhaganlal Securities Private Limited 412 200 150 20 Mumbai

Hem Securities Limited 114 180 70 180 Jaipur

BgSE Financials Limited 320 167 100 10 Bangalore > >>