Thread: Why sbi demat is not good.

Hi,
In so many reviews/comments i read that plz do not open demat with sbi/motilal oswal. can any body tell me why (after reading my requirements).
My purpose to open a/c is to purchase shares /gold etf occasionally and for long term purposes. means i am not much interested in daily trading. I dont mind if it is slow in day hours.
Also is there any chance that they can cheat us...

Is it not user friendly as i am a novice in shares,but experienced in mutual funds
Other that the charges they have mention in website, is there any hidden charges also. (if you have a/c you must aware of that)

Motilal Oswal provides good stock tips as far as I have heard they stand in the leading top three in the country.

and what about icici direct. If you ignore one time high opening charges ~975 . what you feel in terms of user friendly, easy to use, for a novice and low volume invester. Is icici direct is also a good option?

Motilal Oswal is the best of the best if you are a high roller and trade often.

For longterm investors I suppose ICICI direct is not bad although their brokerages are one of the highest be it on delevery or day trading and even btst thing they have is highly priced.

If you are one of those who buys a stock and forgets about it then Icici direct is the way to go.

Can we buy any share in evening/night also with icici direct . I mean when mkt was closed

Originally Posted by uncleji

Can we buy any share in evening/night also with icici direct . I mean when mkt was closed

Yes you can place limit orders with icici direct which would get executed once that price level you specify is reached when the markets open. You cannot place a market order when the markets are closed.

Is it possible that broker use my a/c without my knowledge? Like if i am having sbi demat is there any possibility that anyone else can use my a/c if he doesn't know password. i heard that broker MAY use your a/c without your knowledge!

Originally Posted by uncleji

Is it possible that broker use my a/c without my knowledge? Like if i am having sbi demat is there any possibility that anyone else can use my a/c if he doesn't know password. i heard that broker MAY use your a/c without your knowledge!

This is something you can expect from your round the corner sub broker... The term they use for doing this in chalu language is "Dabba karna"

Its not really using your account without knowledge but what they call dabba is like you place an order say xyz company 1000 shares at Rs500 per share and instead of really buying the stock if they think you are going to loose money they will not pick the stocks up and just put them under your name... then once the stock goes down a bit they call you up to ask you if you want to square off and if you say yes they tell you that your trade was squared off at so and so price and you lost xyz amount of money ... In reality no trade ever took place and whatever money you lost went into their pockets... Do you get it?

This dabba thing is more practiced in commodity markets as experienced brokers know the moves in commodity markets like the back of their hands...

Ohh.. thanks for clarification. you mean It is not our hand to purchase share or not, like if i click purchase button it is not purchased instead request goes to broker to purchase share?. Now its up to him.. But in that case is it still showing under purchase section in demat a/c?
I mean final decisions are ours or brokers?

Hi

Indiabulls is the best

may provide you low brokerage & waiver of joining fees. NO AMC

i think its a government bank usually people got trouble to open an account and its process are very slow as well.