Apr 18, 2005 08:59 PM
5177 Views
(Updated Apr 18, 2005 08:59 PM)
I've been trading with HDFCSEC for over 2years now and in all I am just satisfied. I dont say this is out of the world service, but it ain't bad either.
It's the ideal trading site for small investors or those investors who do this part time. Definitely not for the biggies. Its simple to use, and fast and efficient.
To buy shares, you need a HDFCSEC account as well as an HDFC Bank account, and all you have to do is specify the SCRIP CODE and place the order. In 10seconds you will have purchased the shares and money will be deducted. Selling is done in the same fashion. it is fast and very very easy, with little or almost no complications.
The tough part arrives when u do this over the phone. It takes ages for someone to even pick up the phone, and when someone does noone can understand what is going on. If u're satisfied with very simple trading that even a 3-yr-old could then HDFCSEC is for you. If u wanna play with serious money then dont opt for it.
Brokerage rates are pretty okay. They take around 50bucks of brokerage for a deal of about 5000-8000 bucks which is pretty normal. Within 3days u get a courier at ur address about the trade details and service is pretty good. They regularly email you about the market and your trades and keep you in touch by sending SMS and stuff. In all they keep you involved and they keep you logged in !
The bad thing is that, unlike sharekhan u can't overtrade. That means if I have 10000 in my account I can't trade for even a rupee more than that. also no short selling, that means I can't sell first and buy later. There is rolling segment trading however which means I can buy and sell on the same day over the phone.
In all if u want simplicity of trading with a reasonable amount of money this is for you. If u want lots of options and play with lots of money then sharekhan would be better !
