Online Trading – Woes and Solutions
Are you into online trading?
Then here is something that you must read:
Online Trading: Woes and Solutions
The article does cover many of the problems that online traders face. (Also see the comments at the bottom of the page).
I use Indiabulls’ “Power Indiabulls” for online trading and have rarely faced any problems in last 2 years. I have read a few complaints about Indiabulls – especially about RM’s trading in customers’ accounts without consent.
I interact with many traders and investors on daily basis. From the feedback that I have got, it seems Indiainfoline, followed by Indiabulls are the best suited platforms for online trading.
I also have an account with ICICIDirect.com.
ICICIDirect.com isn’t suitable for active traders. ICICIDirect.com is too slow and the charges are too high.
Reliance Money still has a lot of problems.
There are rarely any problems with the Indiabulls’ online trading problem, but I am still not satisfied with the offline service. Sometimes the RM is unreachable. Even when I am able to contact the RM, he doesn’t seem to have the complete knowledge about the regulations, procedures etc.
Also, due to the complaints that I have read online about RM’s trading without customer’s consent, I always keep a minimum margin with Indiabulls.
(It takes only 2 minutes to transfer money from your online banking account to your online trading account).
I agree with you about the Power Indiabulls software being very good (http://power.indiabulls.com). I have been using for 2-3 years and found it best for day trading. Indiabulls also gives leverage for intraday so that is good.
I am also quite happy with my RM though RM has changed once in between. Never had any issue on any trading without consent. Rather they are over careful and keep taking my signatures on statement of account every quarter.
Recently they have launched their mobile product also.