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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
across all medium and through multiple PR initiatives.
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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
for customers and hassle-free business operations for our business partners.
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.
What our Partners ha
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
higher leverage on the brand
systems softw
processes to r
day business
wonderful. Th
monitored ris
management
Advisory Support: Access to Sharekhan research advice in real-time on Sharekhan
Trade Tiger terminal. Dedicated Advisory relationship managers to help you chart a
business plan and help you in your day-to-day business as well as owning up the clients
portfolios
support to gr
business. Any
just a call awa
Krishna Rungta,
Sharekhan Franchisee,
Best business practices: With customer interest as the core value, best practices and
directives from regulators help in building greater trust and transparency.
Patna
"With its ethi
functioning a
driven proces
Sharekhan ke
Customized Retail Design: Expert Assistance to design your office premises
synonymous with our corporate identity
customers ful
about its Inte
Everyone is s
Acquire more customers
with our Marketing Efforts:
to help us gro
business"
Saurabh Bardia,
Sharekhan Franchisee,
Benefit from the Big Picture: Leverage Sharekhan¶s efforts in National-level
advertising and presence in mass media
Jabalpur
Presence in your Region: Customized marketing and business development
effort as per your need and wants at the regional level
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
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The most trusted retail-centric broking house with 'Service Truly Personalized'.
Angel is among the top five broking houses in the country.
Angel was first to concentrate on retail-centric research.
Angel was first to adopt the branch concept.
Angel was first to launch the web-enabled Back Office Software for sub brokers and clients.
Angel has the highest number of registered sub-brokers on BSE and NSE.
Angel has the highest number of trading terminals (excluding e-broking terminals).
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.
T
o 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).
Position traders -- investors who buy and hold securities for the long haul -- typically opt for low brokerages.
Daily traders, who trade in large volumes, usually settle for what brokers call zero per cent brokerage.
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
y
y
y
y
y
y
y
Brokerage is a recurring cost. Higher trading volume slabs attract lower brokerage. You'll also have
to pay an annual maintenance charge.
Some brokers insist on a minimum transaction volume and charge their lowest brokerage for it.
Opt for the same depository and trading body to avoid delays in settlement of shares and cash.
Margin trading could attract higher brokerage than regular transactions.
Online brokers provide regular updates on market favourites.
Pick the online broker with the maximum number of collaborating banks.
Check out the website's speed and reliability, ease of fund transfer, and the e-broker's customer
service quality.
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
Share
this
Ask
Users
Write a
Comment
Print
T
o 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).
Position traders -- investors who buy and hold securities for the long haul -- typically opt for low brokerages.
Daily traders, who trade in large volumes, usually settle for what brokers call zero per cent brokerage.
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
y
y
y
y
y
y
y
Brokerage is a recurring cost. Higher trading volume slabs attract lower brokerage. You'll also have
to pay an annual maintenance charge.
Some brokers insist on a minimum transaction volume and charge their lowest brokerage for it.
Opt for the same depository and trading body to avoid delays in settlement of shares and cash.
Margin trading could attract higher brokerage than regular transactions.
Online brokers provide regular updates on market favourites.
Pick the online broker with the maximum number of collaborating banks.
Check out the website's speed and reliability, ease of fund transfer, and the e-broker's customer
service quality.
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
Share
this
Ask
Users
Write a
Comment
Print
T
o 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).
Position traders -- investors who buy and hold securities for the long haul -- typically opt for low brokerages.
Daily traders, who trade in large volumes, usually settle for what brokers call zero per cent brokerage.
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
y
y
y
y
y
y
y
Brokerage is a recurring cost. Higher trading volume slabs attract lower brokerage. You'll also have
to pay an annual maintenance charge.
Some brokers insist on a minimum transaction volume and charge their lowest brokerage for it.
Opt for the same depository and trading body to avoid delays in settlement of shares and cash.
Margin trading could attract higher brokerage than regular transactions.
Online brokers provide regular updates on market favourites.
Pick the online broker with the maximum number of collaborating banks.
Check out the website's speed and reliability, ease of fund transfer, and the e-broker's customer
service quality.
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
Share
this
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
Delivery
Intraday trading
0.50%
0.10%
NIL
0.03% - 0.50%
0.03% - 0.10%
NIL
0.30% - 0.50%
0.03% - 0.15%
0.25% - 0.85%
0.07%
0.50%
0.02% - 0.03%
0.75%
0.15%
0.25% - 0.50%
0.05% - 0.10%
Online Broker
MMC*
SBICAP Securities
brokerage charges
Sharekhan
brokerage charges
Motilal Oswal
brokerage charges
5 paisa
brokerage charges
Angel Broking
brokerage charges
ICICI direct
brokerage charges
Indiabulls
brokerage charges
HDFC Securities
0.50%
0.15%
0.80%
0.15%
0.20% - 0.30%
0.02% - 0.03%
0.01%
0.01%
0.30%
0.03%
0.50%
0.10%
brokerage charges
UTI Securities
brokerage charges
Religare
brokerage charges
Reliance Money
card system
brokerage charges
Geogit
brokerage charges
Indiainfoline
-
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
Trade Stock Trading / Demat / Brokerage
HSBC InvestDirect Stock Trading / Demat
/Brokerage
roup has emerged as one of the top 3 retail broking houses in
corporated in 1987, it has memberships on BSE, NSE and the two
HSBC InvestDirect (India) Limited (HIL) is one of the India's
commodity exchanges in India i.e. NCDEX & MCX. Angel is also
financial services organizations providing varied range of
d as a depository participant with CDSL.
through its subsidiaries to Individual and Corporate customer
etail stock broking house offering a gamut of retail centric services.
Ebroking
nvestment Advisory
Portfolio Management Services
Wealth Management Services
Commodities Trading
Platforms:
listed on the Bombay Stock Exchange Limited (BSE) and
Stock Exchange Limited (NSE).
HSBC InvestDirect offers various services that include equity
wealth management, IPO distribution and portfolio man
services. HSBC InvestDirect has around 240 offices in 80 citie
the country.
Trade In: BSE and NSE
rade provides 4 trading platforms, 2 are browser based & 2 are
on based.
Online Stock Trading Platforms:
HSBC InvestDirect offers 3 different online trading platforms
Angel investor
customers:
t is a browser based trading platform. The rates are updated on
clicking the refresh button. This facility ensures it is not blocked by
irewall. Thus it is useful for investor who needs to access
1.
SmartSTART
SmartStart is a powerful browser based Trading pla
nformation from places where firewall blocks such data.
beginners. SmartStart trading platform allows their inv
flexibility of trading on both the NSE & BSE via
Angel Trade
screen.
t 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.
2.
Angel Anywhere
t is an application based trading platform where rates are updated
automatically. This is ideal for investors & traders who are inclined
owards trading based on charts & technical tools.
4.
User friendly Get Quote screen
Seamless 3-in-1 proposition
Live order status
Track your orders real-time
8.
s ideal platform for the daily traders.
Fully Customizable display
7.
automatically. All segments are available on a single screen. This
3.
6.
t is an application based trading platform where rates are updated
Simple order entry for Equity & Derivatives
5.
Angel Diet
Trade on NSE & BSE
Dynamic buying power
9.
Works behind a Proxy
10.
Back office access
2.
SmartINVEST
SmartInvest is a browser-based trading platform for cu
ge and fees:
Account
opening
account
trading
account
who transact occasionally. It is ideal for investors who
fees:
-
Rs
-
in the Buy and Hold approach towards investment in
575/-
Rs
It gives the benefit of real-time streaming data
200/-
flexibility
dity trading - Rs 625/-
of
trading on any
Internet
capable
Features:
Brokerage:
ade
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
0.05%
4.
Multiple Watch lists
5.
NSE & BSE Access
e more than Rs 3 Crore, brokerage is about 0.03%.
6.
Single order form for Cash and FnO
e procedure to open an account.
7.
Point and Click order entry
8.
Hot Key Functions
ges of Angel Trade
9.
Back Office access
User friendly browser-based / application based online trading
3.
es:
SmartTRADE
SmartTrade is an EXE based desktop software desi
The auto square off time is at 3:15 and an investor can buy up to 4
active traders who transact frequently to capture sh
e value in his account.
price movements. This platform gives more pers
Trading account can be linked with popular private banks like
investment options to the investors. Following are few
ank, ICICI Bank, UTI bank etc.
features
of
SmartTrade
Trading is available in both BSE and NSE.
ntages of Angel Trade
Features:
Online money transfer from trading account to bank account
not
available:
1.
Fully Customizable display
account can be linked with popular private banks like HDFC Bank,
2.
Dynamic Charts with Indicators
nk, UTI bank etc. A trader can transfer money from his bank to the
3.
EOD Charts
account online. But the reverse transactions are not yet available
4.
Real-Time market data
5.
Advanced Alert capabilities
6.
Live order status
ans money, a trader gets after selling shares doesn¶t get credited in
7.
Track your orders real-time
account directly. The trader has to call Angel Trade and request
8.
Real time position updates
9.
Dynamic buying power
e
deposit.
This
takes
couple
of
working
days.
y angel trade is kind of behind with ICICIDirect where 3 accounts
ccount, trading account and demat account) are connected so
10.
1.
Website: http://www.hsbcinvestdirect.co.in
2.
FAQs:http://www.hsbcinvestdirect.co.in/hsbc-
sly that no manual interfere requires. In ICICIDirect, a trader gets
ey back into his ICICI Bank account as soon as the trader settle
Message window docking
Useful links about HSBC InvestDirect
webapp/OnlineTrading/Forms/FAQ.jsp
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
CICI & 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., b
large number, it would be very difficult for you to find the right broker. You must, hence, look for the follow
Reputation: Broking is a business that requires a low capital base. An individual/corporate/institution
1.
National Stock Exchange (NSE) with a net worth of 100 lakhs. No wonder, the number of brokers has grow
with a broker who has a good reputation. This is broadly reflected in the past record and the credibility t
broker protects the investor from default risk, fraud and other financial risks. Several institutional brokers ha
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
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
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 consid
charged by most, ranges from 0.20 to 0.75 per cent for delivery based and .001 to .05 for intraday. Brok
reduces the realization from sale of securities. You must therefore check the rates charged. Sometimes, a m
irrespective of the value. Brokers also provide competitive rates to the high value investors and to regular tra
Different modes of transactions: An investor can buy or sell securities, either by phone, by giving an
4.
personal visits. The broker identifies transaction done on telephone by an alphanumeric code allocated to th
conducted by using a user id and password on the broker¶s website. This is basically a unique identificat
mechanism.
Service Quality: Service quality of the broker is another important determinant. For instance, how fast a br
his service standards. Since markets operate on a real time basis, at times, small delays result in financial loss
of security by the broker to the client account, settlement of funds, timely dispatch of contract notes, providin
Selecting a depository participant (DP): Gone are the days when shares were bought and sold in physic
transacted in electronic form, which is made possible by the process of dematerialisation (demat). A demat a
in electronic form. Just like a bank account is opened with a bank, a demat account is opened with a Deposito
by law in India to open demat accounts and are agents of the depository, acting as intermediaries between
works on a book entry form where shares are debited and credited as and when clients buy or sell. A buy tr
sell
transaction
leads
to
a
There are more than 250 DPs registered with two depositories in India, which are NSDL (National Sec
(Central Depository Services Limited). Once again, due to this high number, you must filter the right cho
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 Ser
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
inspections in the IPO scam in 2006, some DPs were found to be following unfair practices and consequent
events may be used as benchmarks for reputation. Also, you should check whether the DP follows the guid
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
website. This is updated twice a year so that you can analyse the charges of different DPs. Some standard cha
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, cr
accounts from one DP to another, if the account is in the same name. Further, some broker DPs, don¶
However they club these charges along with brokerage. You must therefore clarify with broker DPs re
c.
Accessibility: Since you get only two days to transfer shares from your account to the broker¶s acc
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 pers
slip meant to transfer shares from your account to the broker¶s account. It would therefore be better if y
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 y
mandatory along with broking and demat accounts. You may use your savings account for purchase and sale
details
in
your
demat
and
Three-in-One demat account: Some brokers and banks offer a ¶Three In One¶ demat account, where you o
with the same entity, in case of a bank DP. Elsewhere, if the DP is a broker, an existing bank account can
One¶ account. This ensures easy transfer of funds. However, in some cases the brokers insist on opening a
they often have tie ups with that bank. These accounts or tie ups are beneficial as they provide a one stop so
and unnecessary paper work. This has also proven to be cost effective. E-trading platforms are also availab
account¶
facilities
are
available.
This
facility
is
majorly
given
by
banks
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
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 directl
you
make
an
application
for
an
IPO,
you
receive
a
direct
credit
in
your
account
to
t
Requirements for opening a broking account: The following documents are essential to open a broking ac
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 securitie
Online Broker Selection
Starting investments: Once you are through with this paper work, you are ready to start investing. Buying a
from 9: 00 a.m. to 3:30 p.m. on all working days. Stock exchanges don¶t work on Saturdays, Sun
(c) www.theequitymarkets.com . Designed, maintained and owned by Alok S Agrawal
k Trading /Demat /Brokerage
PPFAS (Parag Parikh Financial) Trading/ Dem
PPFAS offers you a pure delivery based trading platform through
ecurities Limited, the leading stock broking house of India is
low cost. Our Company is not impersonal like other online brokera
indra Bank. Company offering includes stock broking through
or visit us for help or advice. The online platform of PPFAS may n
ments in IPO, Mutual funds and Portfolio management service.
for Futures and Options trading as PPFAS offers online brokerage
ement services to high net worth individuals and corporate
transactions. PPFAS believes that Futures and Options carry inhe
o distributes a range of financial products, including company
this segment can be done only over the phone. Further margins c
tial public offerings, secondary debt, equity, and small savings
than the minimum prescribed by the exchange. This is to prevent
y the company are available though its internet portal. In early
transactions in volatile markets.
Account Opening
s global trading platform in India. This platform provide direct
REITS spanning 24 stock exchanges across the USA, Europe,
member of both Bombay Stock Exchange (BSE) and National
ntly, Kotak Securities is one of the largest broking houses in
ach.
Client can open an online trading account from anywhere in India.
Multiple banks to transfer funds
You will have options of multiple banks to transfer funds like ICICI
Bank. This is unlike the bank promoted brokerage firms ICICIDirec
which restrict it to the parent bank.
Attractive Brokerage
Attractive brokerage rates: 0.25% vs. 0.50% to 0.75% charged b
pes according to users requirement:
Further this discounted rate comes to you regardless of volumes.
commitments. Some brokers offer lower rates only to people who
transactions. We are however not in the business of providing virt
ount is specially made for those investors who are averse to
card kind of brokerage.
igh volumes in futures and options.
Free of cost - Diet Software for Online trading
d in this account as account is mainly focused on derivative
dedicated teams for technical and derivative analysis. Kotak¶s
es various parameters of derivative data, so investor need not
Apart from using online version of IBT, clients get software (DIET)
companies charge 700-2000 for the software + 150-900 dependin
data analyzing. An investor gets access to both dealers and
peak to them directly via phone/chat. This opportunity gives
Research Recommendations
ationale behind a particular position or strategy at all times,
and know details on market movements etc. In Super
investor also will be able to use advanced strategies. Kotak¶s
Clients benefit from the published research of PPFAS. Clients can
team and seek guidance on their portfolio.
gies to their investor¶s positions where the risk return ratio is
Other Benefits
k securities Super Derivatives account with minimum amount
by way of cash or stock. For Derivative brokerage - Futures is
for Derivative brokerage - Options is 0.05% or Rs 150 per
gher (both sides). Delivery Brokerage is 0.45%.
Quick assistance to clients who need help available
Clients can make their own decisions and take actions qu
Payouts takes play directly to your account.
Clients have an option of dealing over the phone in case o
Depository Services
Online Trading Account which provide investment planning in
Traded Funds), Equities and Mutual Funds to their customers.
fund schemes that will invest the money collected from their
old bullion.
You will be able to keep track of your broking account and dem
same roof.
he recommendation according to investor's risk capability and
You will be enjoying the following benefits of opening demat accou
mum investment of Rs 5000 required for AutoInvest account.
Maintaining demat account with us will be very cost effec
.
Rs. 13/- per transaction.
nt opens the gateway to a world of investing opportunities for
way user can trade anywhere, anytime using internet. Kotak
e facility.
You do not have to give delivery instructions as you
.
executing POA (Power of Attorney) in favour of PPFAS for sale tra
You do not have to keep track of maintaining collate
.
department will take care of the same on your behalf.
e SMS alert, research report, free news and market updates to
You will be able to track your stock as at the time of ex
.
est feature of Kotak gateway is call and trade facility. Anybody
automatically check the availability of balance in your demat acco
ateway account with any amount between Rs 20,000 to 5,
fear.
n form of cash deposit or the value of the shares you buy.
.
website.
ged based on the account type. For intraday trading brokerage
ess then 25 lakhs and .023% for more then 25 crores.
You will be able to view online your stock balance along
.
You will be intimated by NSDL of any debit transaction in
of credit effect against corporate action like bonus, stock split, me
if any in your account through SMS.
s the premium investment account offed by Kotak Securities.
Brokerage Charges
eway account benefits Kotak provides independent market
through a dedicated relationship manager and a dedicated
which provides assistance in opening accounts, handling day-
more. They provides KEAT premium which is an exclusive
monitor what is happening in the market and view your gains
ak Privilege Circle account with any amount more than Rs.
y way of cash or stock. For intraday trading brokerage is .06%
25 lakhs and .03% for more then 25 crores.
ounts, Kotak Securities also provide following accounts:
for Mutual Fund Investments.
http://www.ppfas.com/pdf-docs/products-services/stock-bro
aver, a Flat Brokerage and a Low Margin account.
Management Service), an account for people who need an
nvestments.
online trading an investment account for NRI investors.
g fees:
otak brokerages are from 0.02% to 0.06% both sides.
Kotak brokerages vary from 0.18% to 0.59% based on the
brokerage
rate
offered
by
Kotak
m/supertrader/lowbrokerage/lowbrokerage.html
es Online Trading
company provides a single platform for investments in equities,
rivatives. Available margin can be used for any of the three
platform provided by the company allows direct access to
nning 24 stock exchanges across the USA, Europe, Asia and
launched an interesting µSmart Order¶ feature to its online
n order to buy or sell stocks at BSE and NSE, customer can
ected, this option offers customers the best available price
ption is available to all the customers of the company.
Call & Trade facility to its customers wherein they can place
hone when they are away from home.
de daily SMS alerts, market pointers, periodical research
s etc.
ve online tool to monitor what is happening in the market and
ses in real-time.
helps customers to resolve issues faster.
Citibank, HDFC Bank, UTI Bank and Kotak Mahindra Bank as
ng account. Investors holding account with these banks can
ccount with Kotak.
ies Online Trading
time.
ing portal is not available.
IDBI & Religare
Motila Oswal &
e Money
Geojit & Networth
(c) www.theequitymarkets.com . Designed, maintained and owned by Alok S Agrawal
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)
Choosing A Broker
comparing
such
details
account
demat
opening
Online Broker Selection
fees,
brokerage
annual
charges,
Online Trading Tips
as
maintenance
charges,
Demat Account
supported
browsers,
Demat Account Charges
Brokerage Houses
features etc.
When opening a
new
demat
account
Brokerage Structures of Major Broking Houses In India
Broker Comparison
negotiate
broker
and
a
with
try
some
to
of
charges
get
the
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):
st
1 year free. Rs
2nd year
500
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):
st
1 year
free;
Second year on
Rs
500
(paper
statements),
450
Rs
(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
(AOC):
Charge
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
(AOC):
Charge
Rs
(waived
555
off
for
employees
of
MNCs)
Annual
Maintenance
Charge (AMC): Nil
Brokerage
: 25p (delivery).
5p (intra-day).
Kotak Securities
Account
Opening
(AOC):
Charge
Rs
750
(Rs 250 credited
in new account)
(waived
off
employees
for
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
Rs 400.
(AMC):
Brokerage
: 0.5% (delivery).
0.05% (intra-day).
Browsers:
IE 6.0+
Enquiry:
1-800-220-223
Reliance Money
Account
Opening
(AOC):
Charge
Rs
(waived
750
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
(AOC):
Charge
Rs
750
Online, (Rs 500
Offline, plus Rs
160
franking
charge)
Annual
Maintenance
Charge
(AMC):
1st year free. Rs
2nd year
300
onwards.
Brokerage
: Higher of 0.5%
or 10 paise/share
(delivery). Higher
of
0.1%
or
5
paise/share (intraday).
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):
st
1 year
free;
nd
2 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
(c) www.theequitymarkets.com . Designed, maintained and owned by Alok S Agrawal
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
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M
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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:
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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
3% firms started broking operations before 1950, 65% between 1950-1995 and 32% post
1995
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
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
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
Majority of branches are located in the North, i.e. around 40%. West has 31%, 24% are
located in South and 5% in East
In terms of sub-brokers, around 55% are located in the South, 29% in West, 11% in North
and 4% in East
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
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
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%.
Company Name
Karvy Stock Broking Limited
Total
Sub
No.of
Terminals Brokers Employees
Number
of
Branches
477
550
15000
4500
City
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
Limited
320
350
18
Mumbai
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
>
>>