This is not very uncommon for traders and investors that they are not happy with the brokerage or/and some other reasons of existing SBICAPS Demat or other Demats. So, they look for some suitable broker who charges low and offer good services.
This is very common traders/investors that major part of the profit earned from trading or investing in stock market is spent on the brokerage. This is a discouraging fact for a client who engage himself/herself to the job, does own research, makes investment of time and money and finally when the fruit comes, a good amount is snatched away all the time. This is time to think else. You can easily find another broking firm who charges low brokerage for stock trading.
Now, this is related to two things:
- One can keep the existing demat with SBI (or others) and can also hold all the purchased stocks therein and open a new demat account with a suitable broker. But this involves another issue. You may have to pay annual maintenance charge for keeping the past Demat and also pay the brokerage as per existing rate at the time of selling them later.
- Another way is that you close your present demat account and open a new one with a suitable broker.
But this involves two things before doing that:
- You can transfer all your holdings from the present demat account to a new one. Relevant forms are there to execute the transfer.
- You can sell all your holdings and close the demat account. This may not be profitable all the time because some of your holdings may not be running on bullish road. So, when it comes to a win-win situation, sell your holdings.
In the meantime, you can open another Demat account with another broker easily and start trading.
Now, if you look for a cost efficient broker in the market, you have to choose from the discount brokers. SAS Online, RKSV, Zerodha, Samco, 5paisa dot com and many more are there with various facilities and plans for their customers.
Out of all these, you may go for Zerodha which is a technology-based company from Bengaluru, transformed the broking business by introducing discount broking model in Indian Stock Market in 2010. This debt-less company has got more than 3lakh clients already and growing very fast.
What they offer ?
- Low Brokerage: Rs 20/- or 0.01% whichever is lower per executed order for Intraday trades across Equity, Currency, and Commodity trades across NSE, BSE, and MCX and Zero brokerage for Delivery on NSE, BSE. Unbeatable one !
- For seamless trading and investing they have very advanced and user friendly platforms-Pi for desktop and Kite for web/android/iOS. They have facility for advance charting and coding, placing Bracket Order and Cover Order and Trailing Stoploss.
- They have other technological products for help of their clients like Brokerage Calculator, Margin Calculator, etc.
- They don't provide tips for trading or investing in particular stocks But for education of their customers they have a platform Varsity where one can learn basics, fundamental & technical analysis of stocks, trading psychology, risk management, etc which is very helpful for a client to learn, grow and do independently.
- They have an advanced platform Coin for investing in Mutual Fund. One can earn more by purchasing MF directly from Asset Management Companies/Fund Houses through Zerodha because the price for the same MF stands higher while buying from the Distributors who charges upfront and trailing commissions.
- One can easily transfer fund from Bank Account to Trading Account and vice versa through IMPS/RTGS/NEFT.
- They have a good network for customer service across the country.
- Account opening: A Demat holder is already KYC compliant and he/she can open Demat and Trading accounts with Aadhar in 5 minutes online on Zerodha at a minimum cost of Rs 500/- (Rs 300/- for Demat & Equity and Rs 200/- for Commodity). For reaching the account opening page directly, click the link below:
Nice post, Thanks Author
ReplyDelete