I have been using ICICIDIRECT.COM for trading for the last 3 months. My experience is that the website is not suitable for trading at all, particularly, for day trading. The website is dead slow.During crucial market hours i.e. from 10 to 10.30 A.M. and 2.30 to 3.30 P.M., the site simply lay dead.
By the time it opens it’s window screen, there has been a sea change in the prices. There is no facility for streaming quotes. In spite of all these drawbacks they are charging the highest brokerage. The portfolio tracker is not accurate. You can’t rely on it’s ’cost price’ and ’profitability’ calculations. But brokerage is calculated accurately. There is no doubt about that.
Some users complained about the long delay in opening the accounts and non-responsive attitude of customer service executives. But in my case it is not so. My account was activated exactly in 10 days and also I have received good and timely response from customer service executives in Bangalore.
I received prompt attention to my e-mail queries and also replies on the same day or on the next day. The product support like market updates, Watchlist, Company information, Stock Screeners are good.
The plus point is that they are giving good exposer for your money. In MarginPlus trading you can trade upto 7 times of your margin amount. I think no other broker will give such facility.
In Margin trading also they give about 5 times exposer and also the facility for converting into delivery. The limit is calculated immediately on purchase or sales irrespective of settlement date and also the funds are debited or credited to your account and shares delivered to your demat account exactly on settlement day without delay.
Anybody have experience with Kotakstreet.com ? If yes, could you kindly e-mail me?