Indian Stock Market

I am not that sophisticated yet to want to see a lot of the additional=20 features. There are many features that are setup as portfolio that I do=20 not check. Also, they have a stock select area where a Watchlist can be=20 setup.=20
ICICI is pretty poor about Z group stocks. There is a major restriction=20 until they see a lot of volume in a demat-Z-group security. I could not=20 buy Conf Petro even though my analyst friend recommended me to get it at=20 4.50.=20
It does show me 5 Best Bid and Ask with quantity on each of the shares,=20 including total volume traded.=20
Best would be for you to take a timeout for a day, and get demo from MO,=20 Reliance, Kotak, ICICI, ShareKhan, and others. Please do report back on=20 your findings since I do want to have an alternate ready, just in case=20 something happens to one brokerage house (slow, unavailable etc).=20
KKP
ZeeNut wrote: > 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: > =20 >> 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: >> >> =20 >>> I do my trades through my broker & my HDFC Securities online trading >>> account. >>> =20 >>> But i find that the online platform provided by HDFC is quite >>> rudimentary & places it’s users at a disadvantage vis-a-vis others. >>> =20 >>> The issues that I am facing with HDFC Securities on-line trading >>> account are as follows : >>> =20 >>> (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. >>> =20 >>> 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”. >>> =20 >>> 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 !! >>> =20 >>> 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. >>> =20 >>> 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 !! >>> =20 >>> (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. >>> =20 >>> 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. >>> =20 >>> Almost 9 months have passed since, and i still do not see the same in >>> my options, nor has HDFCSec updated me on anything. >>> =20 >>> 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. >>> =20 >>> (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= . >>> =20 >>> 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. >>> =20 >>> (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. >>> =20 >>> However, there ARE a couple of good points regarding the account which >>> i must also reproduce, to be even-handed : >>> =20 >>> 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. >>> =20 >>> 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. >>> =20 >>> 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. >>> =20 >>> 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) : >>> =20 >>> 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 ? >>> =20 >>> 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 ? >>> =20 >>> 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 ? >>> =20 >>> iv. Does your platform allow you to buy Z-group shares that are in demat= ? >>> =20 >>> v. What is the delivery brokerage charged to you ? >>> =20 >>> 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. >>> =20 >>> Regds, >>> =20 >>> ZeeNut >>> =20 >>> ————————————————————————= - Hide quoted text - >>> =20 >> - Show quoted text - >> =20 > > > > > > =20