I have been dealing with Anand rathi for over 2 years now as an Internet trading customer after I shifted from ICICI dierct. The brokerages are definitely lower and with fewer customers they service you that much better. The research is also good and they send me daily SMS alerts for their research calls. Being a service dependent on the net connection I have faced routine problems but overall a good experience. As they grow bigger they possibly will also face the same problem as others but I hope they are able to retain their indianness in dealing with small customers like me.
Recently I have also started using them for investing in Murual Funds and last year I bought a Life Inusrance policy from them. Being Life Insurance brokers they offer all policies of all companies. They have also approached me for Health Insurance and my Car Insurance.
I have a few friends using them for trading through their branch located in Dadar and she too has been using them for a long time and is reccomending them to all her friends.