Oct 06, 2012 12:56 AM
14195 Views
After reading all the reviews here I was afraid to open A/c with Nirmalbang even though its branch is stone throw away distance from my house, but I was really fed up with high brokerage charge of Icicidirect, so I decided to look for other options. Since I am an active trader, I was called by different brokerage firms with there best offer which they can give.
I visited NirmalBang office and was attended by the Area manager.After discussion for 2-3 days on best offer they can provide, they given me 50% off on prepaid Margin Amount as I wanted to test them after all the reviews I heard, so dont wanna block huge amount . I clearly told them about all this reviews and asked them for the written mail communications on everything. Great so I choose Nirmalbang over Geojit, Sharekhan , Rkglobal and all, specially to get rid of Icici high brokerage.
Surprisingly the A/c is opened within 3 working days, got client Id everything. Quite fast as against a review here. Actually generally A/c opening get delayed if some document is not OK.
Initially faced lots of issue with the website for around 2 3 days , then went to office directly where they told me about the setting need to be done. After 2-3 days no hiccups. Trading goes as smooth as butter. Its been one month since I am using it and I find it really improved if I goes with reviews written here. Use t get confirmation call from there side for the executed trades , so I don't find the problem where shares are sold from ur A/c without ur knowledge.
Anyways here are Pros and Cons based on my experience till now.
Pros :
You can get a very low brokerage rate at better prepaid scheme base on your past trading history.
Research reports and other reports are good and comprehensive.
Good website based trading ( but I must confess it was pain in a$$ for first 2-3 days) and also provide ODIN software at some reasonable reversible price.
Get confirmation calls after market hours regarding executed trade.
Easy transfer of money to broker A/c with some major banks.
dedicated contact number for various needful activities will be given to you.
Daily SMS regarding your Account balance.
Good Margin FOR (T+5)
Cons :
Web base trading though have stream quotes but sometime is very slow (but I must say , I faced this problem earlier now its very smooth on all browser)
Can't purchase mutual funds.
Back office has poor interface.
No instant money transfer from Broker Account to bank account may take 1-3 days.
Rest demerits if I face I will let you know. But till now my experience is good.
Please keep in mind your investment should be your decision , broker can only provide advice. I find people saying very bad broker , I lost money because of him and bla bla .. Its you , who has to invest money so take your own decision , make your own study , broker can only advice you .its up to you to follow.
