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Comparison of Brokers in India

Last updated: Saturday, February 12, 2011
A comprehensive report on major brokers (BSE and NSE) comparing details such as demat account Popular Comparisons
opening fees, brokerage charges, annual maintenance charges, supported browsers, features etc. Investment, travel, etc.
Subscribing to a broker requires a PAN number. Details of how to acquire your PAN number are listed
at the end of this report. NRI Banking - India
Special Offers for NRIs
Support for browsers other than Internet Explorer 6.0 is gradually improving. Since the time this
Travel Insurance - India
article was first written, a few brokerage houses have added support for other browsers, such as,
Netscape, Firefox and Opera. Calling Plans - India
Prepaid Cards - Canada
Had a good/bad experience with a broker? Please share your views. Raise awareness with your
Travel Money Cards - Australia
ratings and comments. Move mouse over 'Your view' bars, choose your rating and click to vote.
Travel Money Cards - UK
Try the brokerage calculator to quickly check fees charged by each broker. Top Brokers - Australia
When opening a new demat account with a broker negotiate and try to get some of the charges waived
off. Top Brokers - Canada
Bank transfer
Günstig Aktien handeln Schon ab 4,95 € - Jetzt zum Depot mit Top Trading-Services wechseln! www.comdirect.de/Aktien-Depot
American Banks
Online Stock Trading Trade Stocks With UFXBank. 30%Bonus 24/7 Support.Low Spreads. Strat Now UFXBank.com/Stocks+Trading
Australian Banks
Schlau wie ein LYNX Futures & Optionen ab 2€ US-Aktien ab 5 USD www.lynxbroker.de British Banks
Canadian Banks
Indian Banks
Angel Broking Your view: 2 reviews
Middle Eastern Banks
AOC New Zealand Banks
Account Opening Charge (AOC): Rs. 490 UAE Banks
AMC
Annual Maintenance Charge (AMC): 1st year free. Rs. 300 2nd year
Brokerage International Money Transfer
on.
Brokerage: 50p (delivery‡), 10p (intra-day). Rate negotiable for Browsers Remittances to India
bulk orders. Enquiry Remittances to Philippines
Browsers: IE 6.0+ Interface
Enquiry: No toll-free number
Interface:

Bonanza Your view: (click to rate)

AOC
Account Opening Charge (AOC): Rs. 600
AMC
Annual Maintenance Charge (AMC): Rs. 275
Brokerage
Brokerage: 50p (delivery‡), 5p (intra-day‡).
Browsers: IE 6.0+ Browsers
Enquiry: No toll-free number Enquiry
Interface: Interface

Canmoney Your view: 2 reviews

AOC
Account Opening Charge (AOC): Rs. 500
AMC
Annual Maintenance Charge (AMC): 1st year free. Rs. 200 2nd year
Brokerage
on.
Brokerage: 0.35% (delivery‡). Buy - Nil, Sell - 0.05% (intra-day) Browsers
(Min Rs. 20; Max Rs. 500). Enquiry
Browsers: IE 5.5+ Interface
Enquiry: 1-800-220-369
Interface:

Geojit BNP Paribas Your view: 1 review

AOC
AMC

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Account Opening Charge (AOC): Rs. 600 Brokerage

Easy-Forex®
Annual Maintenance Charge (AMC): 1st year free. Rs. 400 2nd year Browsers Trading
on. Enquiry Easy & Professional
Brokerage: Online - 30p (delivery). 3p (intra-day), Offline - 50p Interface Forex Solutions The
(delivery). 15p (intra-day) Easy Choice for Every
Browsers: IE 6.0+ Trader!
Enquiry: 1-800-425-5501 www.Easy-Forex.com
Interface: Dax Ausblick 2011,
Gratis
Haben Sie ein
Vermögen über
HDFC Securities Your view: 1 review
250T€? Für Sie
wichtige Studie
AOC
Account Opening Charge (AOC): Rs. 799 anfordern!
AMC Hot Stocks Set To
Annual Maintenance Charge (AMC): 1st year free. Rs. 500 2nd year
Brokerage Explode
onwards.
Browsers Free OTCBB Reports
Brokerage: Higher of Rs. 25 or 0.5% of transaction value (delivery).
and Alerts Don't Miss
Higher of Rs. 25 or 0.1% of transaction value (intra-day). Enquiry
Out On These
Browsers: IE 5.0+, NN 8.1+ and FF 1.5+ Interface Winners!
Enquiry: 1-800-209-9700 www.otcreporter.com
Interface: Täglich Forex
Signale
Alle Forex Signale in
ICICI Direct Your view: 5 reviews Realtime. Über
11.000 Pips im Jahr
AOC 2010
Account Opening Charge (AOC): Rs. 975 www.classicfonds-tradingsignals.de
AMC
Annual Maintenance Charge (AMC): 1st year free; Second year on Technavio Reports
Brokerage
Rs. 500 (paper statements), Rs. 450 (email statements) 700+ reports with
Brokerage: Higher of Rs. 25 or 0.55% (delivery). Browsers
in-depth analysis on
Higher of Rs. 15 or 0.05% of transaction value (intra-day). Enquiry Technologies of the
Browsers: IE 5.5+ , NN 4.7 and FF 2.0+ Interface Future
Enquiry: No toll-free number www.technavio.com
Interface:

IDBI Paisabuilder Your view: (click to rate)

AOC
Account Opening Charge (AOC): Rs. 550 (basic plan), Rs. 700+
AMC
(turnover based plan)
Brokerage
Annual Maintenance Charge (AMC): 1st year free; Second year on
Rs. 350 Browsers
Brokerage: 0.5% (delivery), 0.05% (intra-day). Enquiry
Browsers: IE 6.0+ Interface
Enquiry: 1-800-223-366
Interface:

Indiabulls Your view: 2 reviews

AOC
Account Opening Charge (AOC): Rs. 900
AMC
Annual Maintenance Charge (AMC): Nil (lifetime free)
Brokerage: 0.1% (delivery). 0.01% (intra-day). Brokerage
Browsers: IE 4.0+ Browsers
Enquiry: No toll-free number Enquiry
Interface: Interface

India Infoline Your view: 3 reviews

AOC
Account Opening Charge (AOC): Rs. 750
AMC
Annual Maintenance Charge (AMC): Nil
Brokerage: 50p (delivery). 5p (intra-day). Brokerage
Browsers: IE 4.0+ Browsers
Enquiry: No toll-free number Enquiry
Interface: Interface

Kotak Securities Your view: 1 review

AOC

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Account Opening Charge (AOC): Rs. 750 (Rs. 250 credited in new AMC
account) Brokerage
Annual Maintenance Charge (AMC): Rs. 33.09 per month Browsers
Brokerage: 0.59% (delivery). 0.06% (intra-day).
Enquiry
Browsers: IE 6.0+
Enquiry: 1-800-209-9191, 1-800-222-299 Interface
Interface:

Motilal Oswal Your view: (click to rate)

AOC
Account Opening Charge (AOC): Nil.
AMC
Annual Maintenance Charge (AMC): 1st year free. Rs. 100 2nd year
Brokerage
on.
Brokerage: 0.25% (delivery). Buy - Nil, Sell - 0.05% (intra-day). Browsers
Browsers: IE 5.5+ Enquiry
Enquiry: No toll-free number Interface
Interface:

Networth Direct Your view: (click to rate)

AOC
Account Opening Charge (AOC): Rs. 250.
AMC
Annual Maintenance Charge (AMC): Rs. 440.
Brokerage
Brokerage: 0.3% (delivery). 0.05% (intra-day).
Browsers: IE 6.0+ Browsers
Enquiry: 1-800-220-223 Enquiry
Interface: Interface

Reliance Money Your view: 2 reviews

AOC
Account Opening Charge (AOC): Rs. 750 (waived off for employees
AMC
of MNCs†)
Annual Maintenance Charge (AMC): Rs. 200 Brokerage
Brokerage: Offline - 30p (delivery). 3p (intra-day) Browsers
Browsers: IE 6.0+ Enquiry
Enquiry: No toll-free number Interface
Interface:

Religare Your view: (click to rate)

AOC
Account Opening Charge (AOC): Rs. 500
AMC
Annual Maintenance Charge (AMC): Rs. 250
Brokerage: 50p (delivery) 5p (intra-day) 0.06% (futures). Brokerage
Browsers: IE 5.5+ Browsers
Enquiry: 1-860-258-8888 Enquiry
Interface: Interface

SBI Your view: 1 review

AOC
Account Opening Charge (AOC): Rs. 400
AMC
Annual Maintenance Charge (AMC): Rs. 400
Brokerage
Brokerage: 0.5% (delivery). 0.15% (intra-day).
Browsers: IE 6.0+ and FF 1.5+ Browsers
Enquiry: 1-800-223-345 Enquiry
Interface: Interface

Sharekhan Your view: 1 review

AOC
Account Opening Charge (AOC): Rs. 750 Online, (Rs. 500 Offline,
AMC
plus Rs. 160 franking charge)
Annual Maintenance Charge (AMC): Rs. 400 Brokerage
Brokerage: Higher of 0.5% or 10p (delivery). 0.1% or 5p Browsers
(intra-day). Enquiry
Interface

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Browsers: IE 6.0+ and Opera 7.0+

Enquiry: 1-800-227-500
Interface:

SMC India Your view: 1 review

AOC
Account Opening Charge (AOC): Rs. 499.
AMC
Annual Maintenance Charge (AMC): Nil (till March 2010).
Brokerage: 0.3% (delivery). 0.03% (intra-day). Brokerage
Browsers: IE 6.0+ Browsers
Enquiry: No toll-free number Enquiry
Interface: Interface

Ventura Your view: (click to rate)

AOC
Account Opening Charge (AOC): Nil.•
AMC
Annual Maintenance Charge (AMC): 1st year free; 2nd year on Rs.
Brokerage
400
Brokerage: 0.2% (delivery). 0.03%(intra-day). Browsers
Browsers: IE 6.0+ Enquiry
Enquiry: No toll-free number Interface
Interface:

Way2Wealth Your view: (click to rate)

AOC
Account Opening Charge (AOC): Rs. 350.
AMC
Annual Maintenance Charge (AMC): Rs. 332.
Brokerage
Brokerage: 0.5% (delivery). 0.05% (intra-day).
Browsers: IE 6.0+ Browsers
Enquiry: 1-800-425-3690 Enquiry
Interface: Interface

Online Phone Branch

‡ Per transaction (buy/sell).
• Software access charge.

Brokerage Calculator Broker charges

Find out how much brokers charge for delivery
Broker
and intra-day trades. The brokerage calculator
Trade Type allows you to assess cost of trade involved with
each broker compared above. Remember, trades
Transaction Type (Buy/Sell) may incur additional charges such as 'securities
transaction tax', 'educational cess' etc.
Transaction Amount
While making a decision some consideration must
Brokerage (Rs.) also be given to the payment gateways used by
brokers. A payment gateway is (in most cases) a
Calculate Reset bank that allows its account holders to transfer
funds to their brokers for investing/trading. So,
before you make a decision check whether your bank is the authorised gateway for the broker.

Documents needed to open a brokerage account

To open a brokerage (demat) account you will need to furnish copies of the following documents.

1. PAN card - this is a mandatory requirement. (Here is NSDL's official site to apply for a PAN card.)
2. address proof - you may submit a copy of one of the following to fulfill this requirement
passport
voter id card
ration card
driving license
telephone or electricity bill

Feedback, suggestions, comments....

Make your MS Excel (or OO Calc) based portfolio tracker.

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