Indian Stock Market

Thanks KKP,
I assume from your reply that things work flawlessly, but could you confirm pt (iii) & (vi - just added this point) of my query specifically ?
Try getting the quote for (say) Saboo Sodium on BSE & tell me if it shows best 5 bids & asks, or only best bid & ask ?
Thanks in advance.
Regds,
Bosco
On Sep 14, 4:14 am, KKP_Investor wrote: > ZeeNutji, you might not like my answer…..But, ICICI takes care of all > of these things, and works almost flawlessly for me. If there are any > issues, they are only for a few instances when there are too many people > on their servers. Those times, the login process is a bit slow, but it > is never the case where I cannot get in (hence minor in the big picture). > > Their charges are high, but the BEST is always the BEST, and has a > premium associated with it. I attribute one stock profit to pay for use > of ICICI, and not worry about commissions. Taxes are a bigger issue to > worry about, but the biggest thing that worries me is LOSS IN PROFITS > when the markets go down. Hence, I manage my money based on stock and > market timing, and commissions and taxes take care of itself!!!!! > > KKP > > > > Bosco Menezes wrote: > > > I do my trades through my broker & my HDFC Securities online trading > > account. > > > But i find that the online platform provided by HDFC is quite > > rudimentary & places it’s users at a disadvantage vis-a-vis others. > > > The issues that I am facing with HDFC Securities on-line trading > > account are as follows : > > > (a) Not being able to see the best 5 buy/sell quotes & not being able > > to see the total buy / total sell quantity for various scrips on BSE > > (particularly non-index scrips like Magma Leasing, Saboo Sodium etc), > > which is crucial information for making any buy/sell decision. See > > attached screenshot & see the table on the left showing Magma Leasing > > quotes on BSE - only best buy & sell is shown, and note that no total > > buy/sell qty is shown. > > > I had complained about this earlier to HDFCSec, in response to which > > they had replied that “for certain scrips, the broadcast from BSE was > > limited to the first best buy/sell rate”. > > > However i find that for the same scrips where HDFCSec is unable to > > provide these best 5 BSE quotes in the online trading suite, other > > online trading service providers are able to do so !! > > > I got the proof of this in the form of screenshot’s from a friend who > > was using Geojit’s platform & I have complained again to HDFC > > Securities, attaching the screenshots. > > > Obviously a user of HDFC Securities online platform is put at a > > substantial disadvantage vis-=E0-vis most other investors & for all > > that, he actually pays a higher brokerage !! > > > (b) Lack of a single screen “MarketWatch” option to track multiple > > scrips. One can only see the information of one scrip at a time, that > > too in the quotes screen. > > > I had complained about this too earlier to HDFCSec, in response to > > which they had replied that the same was “under development stage” & > > that they would keep me informed as & when it was implemented. > > > Almost 9 months have passed since, and i still do not see the same in > > my options, nor has HDFCSec updated me on anything. > > > I have noticed that most other online trading platforms like MOST, > > Geogit etc provide this sort of a screen . I have once again > > complained to HDFC Securities, attaching a screenshot of the screen in > > Geojit & asking for an explanation. > > > (c) For NSE quotes, i find that the refresh is often delayed (even > > inspite of clearing cache etc) - not sure if it is only for non-index > > scrips or what, as my universe of stocks are the mid/small-caps. For > > example i may see a best buy for 100 shares of “A” at (say) 200 bucks > > & my Sell order is pending at 205 bucks, but when i change my order & > > try to sell the same at 200, it often does not executed, the order is > > visible as pending in my order book at 200 bucks, but the quotes > > screen still shows a best buy of 200 bucks & my earlier ask at 205 > > bucks. After a minute or so of constant refreshes, suddenly the screen > > refreshes & i find the best buy is now (say) 199 & my sell is at 200. > > Obviously i could have sold at 195 if my screen had only shown me the > > correct information in real time. This problem often causes me to miss > > out on execution of my trades at optimum rates, because of the time lost= . > > > Luckily i do most of my trading on BSE, where i have not noticed this > > issue thus far. I had intimated my HDFCSec RM about this but nothing > > was done about that either, in any case I have not traded much on NSE > > in the last few months. > > > (d) In addition, i have the usual problem of non-receipt of bills - > > the bills are often returned by the courier if no one is at home - > > they say that they are not authorised by HDFC to “drop” the same in > > the house - this would surely cause a lot of problems for working > > couples - in my case this has become less problematic now that i am at > > home most of the time, but it still happens. The bills can be printed > > from the website also, though. > > > However, there ARE a couple of good points regarding the account which > > i must also reproduce, to be even-handed : > > > 1. Seamless Integration b/w the trading account & the bank/demat > > accounts. So if one buys or sells shares, the transaction happens very > > smoothly - _there is no need to put a HOLD on the money or the shares > > well in advance _. Just an extra pop-up comes up when you place the > > order to do the hold, which only involves an extra button-click, and > > hence no extra time is wasted. This is very helpful if one wants to > > act on news & hence needs to put in a trade in seconds. Once the trade > > is done, the shares are either debited/credited to the demat account & > > likewise the money is either credited/debited to the bank account on > > the afternoon/evening of the T+2 settlement date, automatically. > > > 2. The moment one does a buy or sell, one is allowed to do > > the reverse in part or in full anytime thereafter, not just on the > > same day. If one has bought some shares, one can sell the same on the > > same day, the next day or even on the settlement day, without the > > shares having beem credited to the account - how HDFCSec handles a > > short delivery in such a case i am not sure. Similarly, if one has > > sold some shares, one can buy shares of an equivalent value > > immediately & anytime thereafter, even before the funds are credited > > to the bank account. > > > I would request members who are users of HDFC Securities to let me > > know if they too have complained regarding the above, if so give me > > the complaint numbers so that i can consolidate & take up the issue > > with them. > > > I would especially request members (non HDFCSec users) to let me know > > regarding the following points with respect to the online trading > > platforms being used by them (please mention which platform you are > > using) : > > > i. Integration b/w the trading account & the bank/demat accounts - how > > seamless is the integration - does it work the way I have described > > above in pt 1 above ? > > > ii. Can you sell/buy shares immediately after you have bought/sold the > > same, and can you do so any day thereafter, even before the settlement > > happens (sort of BTST) , as described by me in pt 2 above ? > > > iii. Does your platform show you best 5 buy & sell orders on BSE even > > for smaller scrips like Magma Leasing, Saboo Sodium etc ? And Total > > Buy/Sell Qty too, in all cases ? > > > iv. Does your platform allow you to buy Z-group shares that are in demat= ? > > > v. What is the delivery brokerage charged to you ? > > > I look forward to receiving your replies to my above queries, and any > > additional information regarding good/bad points about your respective > > online trading platforms. > > > Regds, > > > ZeeNut > > > ————————————————————————= - Hide quoted text - > > - Show quoted text -