Best Day Trading brokers

If you are a day trader, there are three important points which you should look in a broker.

1) Brokerage – For a day trader, brokerage can mean whether you are profitable or not in the long run. It is extremely important for a day trader that brokerage are as low as possible. You should look at discount broker as they have some of the lowest brokerage in India right now.
2) Margin – This is also something which is important for you if you are into day trading but remember that this is a double edged sword. It could be profitable for you but at the same time it open your trade for huge losses also. As a day trader, you should always have stop loss on every trade. Full service broker generally provide much higher margin limits but nowaday discount broker also provide higher margins with the use of complex order types like Cover Order which define your losses at the time of the trade.
3) Time of cut off – This is also important for you if you to intraday trade as someone who starts putting a cut off time of 2:45 would invariably mean that you have 20 mins less than a broker who provide cut-off time of 3:15.
4) Number of stock – Every broker have a list of stock which they provide for intraday. Check first with the broker if they have the stocks which you trade in. Almost all the brokers provide large cap stock for intraday trading, put few provide small cap stock for intraday trading. So this is something which you should look at while looking for a stock broker.

Based on these points, I have tried to put in the list of top 3 brokers which would be best fit for day traders.

S. NO Broker Name Brokerage
1 Zerodha 0.01% or Rs 20 per trade
whichever is lower
2 Upstox Rs. 20 per trade
3 Angel 0.03% per trade

1) Zerodha: This is one of the largest discount broker in India with more than 150,000 clients. They started the discount broking in India in 2010 with a fixed brokerage structure.
They charge .01%( 1 paisa) per trade upto Rs 2 lakhs. (which is Rs 20 brokerage). If you have a trade of more that Rs 2 lakh, the brokerage is capped at Rs 20. So for any trade whether it is Rs 5 lakh or Rs 20 lakh, the maximum brokerage you would have to pay is capped at Rs 20.
Apart from this, they have a state of the art trading platform called PI and browser based platform called Kite. They also have apps for playstore/appstore called KITE. They provide advanced order like bracket order, cover order to trade for intraday traders. To open account with them, just click on the buttom below and provide your details.

Open Account with Zerodha
2) Angel Broking: They are one of the largest full service broker in India and have more than 10 lakh clients trading with them. There brokerage is a little higher and they charge brokerage of .03%(3 paisa) for intraday trading which is high compared to discount broker but if you look at their customer service, it is better than discount broker. Angel provide a dedicated dealer you can trade with and also provide you advisory service free of cost. So if you are looking for a broker from whom you can take advice, then you can open account with them.
They also provide T+6 day trading when you buy the stock, which means you can convert the position from intraday to delivery and vice versa upto 6 day. There is a nominal interest rate which is charged on this though.

Angel Account opening

3) Upstox: This is the second largest discount broker in India having around 30,000 clients. They have similar brokerage structure as Zerodha and charge .01% or Rs 20 whichever is lower per trade for intraday. They also have an awesome trading app called UpstoxPro which provides lots of feature right on your mobile phone.
They also provide advanced order like Bracket order and Cover order to there clients. They have also started online account opening so that the customer can fill the form online and start trading in 10 mins.

Open account with RKSV

Hope this article would have helped you on what to look in a day trading broker and how you should choose them. In case of any question, do let me know and I will try to answer then to the best of my knowledge. You can read further review of the best broker to trade with on Top 10 brokers in India.

Zerodha review

Zerodha is India’s first and largest online discount broker operating from 2009. It was started by Mr Nithin Kamath who was himself a trader before starting Zerodha. Besides low cost which most of the discount Brokers are known for, Zerodha is also credited for its technology initiatives which it brings first to the markets.

Zerodha trading software
Desktop Based Trading: Zerodha has finally in July 2015 released its next generation platform called ‘Pi’ which was long awaited. This is one of the most advanced charting software provided by any brokZerodha Discount Broker reviewer in India and best thing it is free of cost to all the clients who open account with them. In Pi you can view up to 50,000 candles, various chart types, over 70 indicators, inbuilt strategies and can even create your own strategies; back test them, trading directly from chart, quick order entry screen with many more options. Here are few screenshot of their awesome platform
[Read more…]

Algo Trading in India

Algorithmic or Algo trading is computer generated trading based on the algorithms fed in the trading system. These are generally used by financial institutions and PE to trade. Majority of trading in US is done through this in US and India is also moving in the same direction. Firms spend a lot of money in developing there proprietary algorithm in the hope to generate positive returns.

Just to give you an example of a trading Algorithm, we can code to look for any stock which is above 50 DMA, [Read more…]

Lowest brokerage charges in India

Traditionally in India share brokers used to charge a certain percentage value of trade(for ex. ICICIdirect charges .5% for delivery based trading) . So if you were a trader or a large investor, you ended up paying a huge brokerage on your transaction. Most of the trader and large investor ended up paying brokerage worth lakhs of rupees. These type of brokers are know as traditional or full service brokers. Most of the retail investor were also using them for trading needs as these brokers where mostly linked with your bank like ICICIdirect with ICICI bank and it was very easy to open and manage account with them.

But in last few years, [Read more…]

Top 10 stock brokers in India

With the increase in number of stock broker, people have a lot of option to choose from, but still it is not easy to choose. You need to be sure of what is that you want. Some pointers to keep in mind before deciding on the brokers are:-

1) Full service or discount broker: The main difference among them is full service broker would charge you brokerage as a percentage of your trade value(for ICICI it lies between .5% – .9%). while discount broker are much cheaper charging you based on the number of trade. Most of the discount brokers charges between Rs 15 to Rs 30 per trade irrespective of the trade volume. So if you are going to trade multiple times a month, go for a discount broker rather than a full service one. To understand there difference better, please have a look at the video below. [Read more…]

Best trading platform in india

With the new trading platforms coming to India, Indian traders and investor  have a choice  to choose the best trading platform which matches there needs. Before deciding on the trading platform, the trader should be very clear about there needs and if the system they are buying will fulfill there needs. Just to give you some example. for some technical traders charting is the most important feature in the platform while for some it may be market calls or bulk order facility. [Read more…]

SAS Online review

SAS online discount brokerage firm offers brokerage services for stocks, future and options on NSE, BSE and MCX. They call themselves a venture started “by traders for traders. They provide very competitive brokerage rate of just Rs. 9 per executed order or unlimited monthly plan for just Rs. 999! This is by far the cheapest brokerage rate provided by any brokers in India.

Just to give you an example of how competitive these rates are for example :You place a ‘buy’ order for 1000 Reliance share and it get completed it takes 10 trades until the whole sasonline-logo-11000 are bought. However, , irrespective of how many trades it takes to complete the order, you will be charged a flat brokerage rate of Rs 9.

Apart from this they also provide a “999 unlimited monthly plan” which gives you a break from having to pay brokerages every time you trade . Using this you can Trade unlimited across NSE cash, BSE Cash and NSE F&O with zero brokerage costs. MCX and Currency can also be traded using this plan. They are one of the few broker who are still providing unlimited trading platform to there clients.

Account Opening Charges
1. Account Opening (Trading) – Rs 200

2. Account Opening (Demat) – Rs 200

Annual Maintenance Charges for Demat – Nil
They have taken NSDL membership and would be providing the services at ZERO AMC.
* It is not mandatory to open a DP Account with us for delivery based trading. In case you already have one, you don’t need to open one.

3. DP Charges – Rs 9 + CDSL Charges
4. STT, Service Tax, NSE Turnover and Transaction Charges, SEBI charges are all as applicable market-wide.
Margins:
a. Intraday Margins for Cash: upto 20 times for F&O stocks
b. Intraday Margins for Equity Futures: 5 times over and above the exchange margin
For holding Equity Futures overnight, exchange stipulated margins are required.
c. Margins for Currency Futures: 50 % of the total margin (SPAN + ELM) as per exchange.
*100% premium amount required for buying options

Trading Platform

SAS NEST trader – State of the art online trading platform so you can make the most of the opportunities in today’s market. NSE NOW is one of the fastest, reliable and user-friendly platforms available in the country today. Servers are co-located inside NSE thus ensuring tick by tick rate updates and quick order routing. Most of the discount brokers use this to provide seamless trading experience to brokers. You have to download this on your PC to use NEST trader.

RKSV Nest trading Platform

 

 

 

 

SAS web platform – HTML 5 trading platform which works on almost all the modern day browser. No need to install anything and trade on the browser.

SAS Mobile trader – SAS provide access to your account through your there mobile app. You can check your portfolio and also trade on the move using this.

NEST Mobile SAS online

 

Funds Transfer

Funds can be transferred through payment gateway, net banking, NEFT, RTGS and Cheque. Details of our bank account are available on the website for the purpose. Funds must be transferred through your bank accounts registered with us. A payout can be requested through back office or email. All payout requests will be processed by the end of that trading day.

Payin Option with SAS online

Instant transfer: One you have linked your bank account with the trading account, you can transfer the money instantly from Bank account to your trading account. It is instant fund transfer and there is a small charge of Rs 9 per transaction

NEFT/RTGS: Not interested in instant transfer. Then you can choose transfer through NEFT or RTGS. In case you are using NEFT, you can only trade once the money in received by them which can take couple of hours to happen. RTGS is instant fund transfer but there is a minimum limit of Rs 2 lakh and above only. You have to do the RTGS/NEFT to SAS online HDFC bank account details on which can be found on their website.

Cheque deposit: The least complicated way to transfer money is by cheque deposit. The only issue being check deposit can take upto 48 hrs to show in your account. So if you are not in hurry

Online Back Office
The Back Office system allows you to view your trading activity since you joined SAS. At the end of each day, your trading activity is uploaded from NSE NOW to your account for your perusal. You can Use this data to understand your historical trading activity, file tax returns, and other accounting purposes.

SAS online does have the lowest brokerage but they provide NEST trading platform which is not that great. To find about the lowest brokerage having best service, read our post on Lowest brokerage account in India.

You can know more about the main discount broker in India here.

Cheapest stock broker in india

Stock broker in India pre – 2010 where mainly full-service broker that is they charge for every trade you do and mostly  the brokerage rate were high. They charged mostly as percentage of your trading and the percentage could be anywhere from .2 – .6 %. These rate are very high and if you are trading a lot or your volume are large, it make sense to look at other discount broker.

After 2010, discount broker have started to open up in India a in last 2-3 years, with better technology becoming common. These are good for traders who are comfortable with trading online and don’t mind not talking to a real person. These brokers generally charge fixed rate as brokerage irrespective of the value of the trade. So if you buy Rs 1 lakh share of RIL or 1 Crore, the rate is the same and in most case they charge a flat brokerage of Rs 20 per trade. This makes a major difference as if you are trading with a full service broker, you would have paid a brokerage of Rs 500 on a Rs 1 lakh trade. [Read more…]

RKSV security review

UPSTOX ( formerly RKSV) is a discount broker operating from Mumbai and was started in 2009. It was started by 3 online entrepreneurs namely Raghu Kumar, Ravi Kumar and Viswanath, Shrinivas after returning from USA. They have experience in trading in US market before starting this venture. They are one of the first discount brokers to start business in India and have more than 25,000 clients trading with them. They have their offices based in Mumbai and New Delhi. They have recently received funding from Kalaari ventures and Ratan Tata. They are doing a daily turnover of over Rs 6,000 crore and are one of the largest discount brokers in India.

The provide one simple brokerage plan :

On all other segments, regardless of the size of the trade you place, you will only be charged a flat fee of  Rs. 20 per order traded. What it means in simple language is they will means in simple language is they will charge you Rs. 20 only if you buyUpstox review shares worth Rs 1,00,000 or Rs 10,000,000. You only pay Rs. 20 per trade across all segments: Cash (Intraday), Futures, Options, Currency F&O, and MCX Futures. Many full service brokers charge you brokerage as a percentage of turnover or on the size of the trade. For example, a broker might charge you Rs. 20 per lot on Options, so on a trade of 10 lots you are paying Rs. 200 in brokerage while using this plan you will only end up paying Rs 20 thus saving Rs. 180.

And again, a HUGE advantage with this plan is that delivery based trades are absolutely, completely free. So if you are someone who takes delivery of trades (investments), you would end up saving 100% of your brokerage

They used to have unlimited plans but they have been discontinued as of January 27, 2016. People who are already using unlimited plan can continue using them but they would not be offered to new customers.

Upstox has also created a module for teaching investor how to trade using technical analysis. They both have free and paid courses which anyone can take. To know more about it, read our review of Trade Academy.

In case you have some confusion about the brokerage rate, please provide your details below and the will call you.

Open account with Upstox

NRI trading plan

Upstox has also started providing trading facility to NRI clients. The rate per trade for NRI clients is Rs 200 per trade. For more info, provide your details and they will call you.

Upstox trading platform

Upstox trading platform is state of art trading platform which has been made keeping in mind the traders and the issue they face. It is really easy to use and is one of the best trading platform in India.

Desktop Based platform

Upstox also have a downloadable file which has to be installed on your computer before you can use it. It provides real time quotes and charting functionality. Funds transfer and charting can be done real time on there software which is easy to use.

upstox-trading-platform

 

Account Opening:

Upstox like other discount broker operates completely online and there is no physical offices where a client can go to. There account opening is also done online and a client has to fill a form online, print it and send it to their office in Mumbai with other documents required for account opening. The other documents required for account opening are

  • Self attested copy of PAN Card
  • Self attested copy of address proof
  • ITR or 6 months of bank statement
  • Filled and signed form

Once they receive the form, they will go through a In person verification (IPV) online using webcam where they will check your PAN Card and any other address proof which you have submitted on webcam. Once the IPV is completed, it will take 2-3 business days for your account to be activated. You will not receive anything by mail but it will be sent to your email account. I just opened the account with them and the account opening was very easy. You can find detailed information about Account opening with Upstox here. The account opening charges are ZERO if you open the account now clicking on the button below.

Open account with Upstox

Upstox Demat Account

Upstox now have there own DP. So you can open you Demat account with them and it will expedite the online account process to a large extent. In case you are not sure whether you need Demat account or not, please go over our article on What is Demat Account.

RKSV securities complaints at NSE:

Number of customer complaints lodged against share broker RKSV as per NSE Data:

Exchange     Financial Year    Total Complaints

NSE                    2016-17                  5

NSE                    2015-16                  3

NSE                    2014-15                 4

NSE                    2013-14                  1

NSE                    2012-13                 1

Some people are concerned about the safety of their investment with discount broker but you can be assured that they are properly registered brokers with SEBI and as per the data available you can see that the number of complaints against them is also very low in number. Finally with the Demat account in place, most of the share you own are never lying with the brokers but with the Depository which are government owned entity.

Trading Turnover

As per there website they have a daily turnover of Rs 5,000 crore or almost 1% of value traded on NSE exchange.

Special Offers

UPSTOX have a special offer going on in which you will get a credit of upto Rs 2000 if you take this offer. For more details visit Upstox website by clicking on the image below.

Ditch and switch

Conclusion

So as we have discussed above, Upstox is a decent online discount broker of India. But remember discount brokers don’t provide advisory services about which stock to buy. So if you are just starting in stock market and want someone to hold your hand, they are not the right broker for you. Also, if you are not very comfortable with using computer, it would be difficult to trade with them. You can use call-n-trade services but remember there is an extra charge of Rs 20/ trade if you use it and sometime there could be some delay in reaching them on phone.

But if you are a trader and comfortable using computer, I can assure you that it could save thousand and thousand in brokerage charges for you.

Like it and want to open account with them, click on the button below, provide your contact details and someone from RKSV will call you.

Open account with Upstox

Top 5 stock brokers in india

Before you choose one the the broker, it make sense to see which are the top 5 stock broker in India. The following top online brokers offer investors the most value for their portfolios. Some  Indian online stock brokers are known for their award winning customer service while others are known for inexpensive stock trades or powerful trading tools. This post will tell you about the five best stock broker in India now based on above mentioned product.

top 5 online broker in IndiaICICI Direct : This is by far the biggest stock broker in India. They were the first one to provide online brokerage in India way back in 2000 and with there integration with ICICI bank, they soon became the market leader. They have a good customer service and there is software is also easy to easy. But there brokerage is on very high side and lately all trader have moved away from them. It is still good for investor, that is someone who don’t trade often.You can find ICICI direct review here.

HDFC Bank : This is another full service broker which is very know. They also provide a good integration with the bank. But being a full service broker there brokerage is also on the high side. You can review full review on HDFC security here.

Karvy : This is one of the lesser know broker but it has one of the largest customer base. It is a no frills brokers providing people access to talk to someone in office. They have lots of office in India and they are one of the biggest player in Indian IPO market. You can find more information about Karvy brokerage here.

Zerodha : This is one of the newest entrant in India but it has taken over the Indian market with a storm. They have a very competitive brokerage structure but you won’t be able to go and talk to them ever. There whole work is done online from account opening to account closing. You can find detailed review of Zerodha here.

Sharekhan/Indiabulls : These are also two of more well know brokers in India. They are somewhere in between a full service broker and a discount broker. Being just a stock broker, they provide decent brokerage structure and customer service. You can find detailed review of these broker here.

Tips for Comparing Brokers

When choosing your online broker, here are some great tips to remember to help you decide:

1. Narrow down a list of what is most important to you – Just like when shopping for a new home, making a focus list of wants will help you separate choices to ultimately make a decision. For an investor that travels often for example, mobile trading will be more important than the cost of placing trades or if you are investor and not a trader, brokerage charge is not that important compared to maybe customer service.

2. Choose a that is well known read reviews online– Larger, established online brokers almost always offer more features, trade tools, better customer service, etc. Some brokers have millions of clients and these are the ones that almost always deliver a high quality experience for clients. Try not to choose small broker because there have been instance of broker closing overnight while taking all the client money with them.

3. Be aware of extra fees – Be conscious of what fees the broker is charging. I do not recommend any smaller brokers on this site specifically for this reason. There are usually many hidden fees that are only found by digging through the broker website. So be aware of other fees like annual

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