Hi,
I found the reviews on HDFC sec were out-dated as the site was revamped towards the end of ’05...
There has been drastic improvement in the content and look & feel of the site.
The service has improved as well.
You can now indulge in
1> short term trading
2> usual long term trading
3> day trading
4> apply for IPOs
5> Trade in F&O
The 3-in-1 (saving+demat+broking) account is an absolute beauty for its seamless trading.
It gives a sense of security to know that your money is handled by the No.1 financial institution in the country today
(...& you thought its ICICI or SBI?? please compare HDFC and ICICI’s balance sheet and you will get the answer :)..check NPA figures..non-performing assets which give the best indication of a bank’s health...
You may get cheaper brokerages but then preservation of capital should be the first criteria....you should NOT be handing over you PoA contract to a fly-by-night operator and regret later.
Their current brokerage is 0.5 % + service tax on delivery and 0.2 % + service tax on square-off trades , not cheap but competitive...
I have had a couple of instances where the site went down and online trading didnot work..such things do happen...servers do crash... nothing is perfect..infact in ICICI bank they expect the site to be slow during trading hours always!!!
However it gives sense of relief that you can always place orders via their toll-free number always.
I can track trade history, current margin, down to the last paisa balance and they have beautifully designed balance sheet which even a CA will appreciate.
I would suggest HDFC sec to investors who donot do day-trade but are short-term to long-term traders.
For day-trade you can give HDFC sec a skip.
Regards,
Saket