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Comparison of Stock Brokers in India

A comprehensive report on major brokers (BSE and NSE) comparing details such as demat account opening fees, brokerage charges, annual maintenance charges, supported browsers, features etc. Subscribing to a broker requires a PAN number. Details of how to acquire your PAN number are listed at the end of this report. Support for browsers other than Internet Explorer 6.0 is gradually improving. Since the time this article was first written, a few brokerage houses have added support for other browsers, such as, Netscape, Firefox and Opera. Angel Broking Account Opening Charge (AOC): Rs 490 Annual Maintenance Charge (AMC): 1st year free. Rs 300 2nd year on. Brokerage: 50p (delivery), 10p (intra-day). Rate negotiable for bulk orders. Browsers: IE 6.0+

Bonanza Account Opening Charge (AOC): Rs 600 Annual Maintenance Charge (AMC): Rs 275 Brokerage: 50p (delivery), 5p (intra-day). Browsers: IE 6.0+

Canmoney Account Opening Charge (AOC): Rs 500 Annual Maintenance Charge (AMC): 1st year free. Rs 200 2nd year on. Brokerage: 0.35% (delivery). Buy - Nil, Sell - 0.05% (intra-day) (Min Rs 20; Max Rs 500). Browsers: IE 5.5+

Geojit BNP Paribas Account Opening Charge (AOC): Rs 600

Annual Maintenance Charge (AMC): 1st year free. Rs 400 2nd year on. Brokerage: Online - 30p (delivery). 3p (intra-day), Offline - 50p (delivery). 15p (intra-day) Browsers: IE 6.0+

HDFC Securities Account Opening Charge (AOC): Rs 799 Annual Maintenance Charge (AMC): 1st year free. Rs 500 2nd year onwards. Brokerage: Higher of Rs 25 or 0.5% of transaction value (delivery). Higher of Rs 25 or 0.1% of transaction value (intra-day). Browsers: IE 5.0+, NN 8.1+ and FF 1.5+

ICICI Direct Account Opening Charge (AOC): Rs 975 Annual Maintenance Charge (AMC): 1st year free; Second year on Rs 500 (paper statements), Rs 450 (email statements) Brokerage: Higher of Rs 25 or 0.55% (delivery). Higher of Rs 15 or 0.05% of transaction value (intra-day). Browsers: IE 5.5+ , NN 4.7 and FF 2.0+

IDBI Paisabuilder Account Opening Charge (AOC): Rs 550 (basic plan), Rs 700+ (turnover based plan) Annual Maintenance Charge (AMC): 1st year free; Second year on Rs 350 Brokerage: 0.5% (delivery), 0.05% (intra-day). Browsers: IE 6.0+

Indiabulls Account Opening Charge (AOC): Rs 900

Annual Maintenance Charge (AMC): Nil (lifetime free) Brokerage: 0.1% (delivery). 0.01% (intra-day). Browsers: IE 4.0+

India Infoline Account Opening Charge (AOC): Rs 750 Annual Maintenance Charge (AMC): Nil Brokerage: 50p (delivery). 5p (intra-day). Browsers: IE 4.0+

Kotak Securities Account Opening Charge (AOC): Rs 750 (Rs 250 credited in new account) Annual Maintenance Charge (AMC): Rs 33.09 per month Brokerage: 0.59% (delivery). 0.06% (intra-day). Browsers: IE 6.0+

Motilal Oswal Account Opening Charge (AOC): Nil. Annual Maintenance Charge (AMC): 1st year free. Rs 100 2nd year on. Brokerage: 0.25% (delivery). Buy - Nil, Sell - 0.05% (intra-day). Browsers: IE 5.5+

Networth Direct Account Opening Charge (AOC): Rs 250. Annual Maintenance Charge (AMC): Rs 440. Brokerage: 0.3% (delivery). 0.05% (intra-day). Browsers: IE 6.0+

Reliance Money Account Opening Charge (AOC): Rs 750 (waived off for employees of MNCs) Annual Maintenance Charge (AMC): Rs 200 Brokerage: Offline - 30p (delivery). 3p (intra-day) Browsers: IE 6.0+

Religare SBI Account Opening Charge (AOC): Rs 400 Annual Maintenance Charge (AMC): Rs 400 Brokerage: 0.5% (delivery). 0.15% (intra-day). Browsers: IE 6.0+ and FF 1.5+ Account Opening Charge (AOC): Rs 500 Annual Maintenance Charge (AMC): Rs 250 Brokerage: 50p (delivery) 5p (intra-day) 0.06% (futures). Browsers: IE 5.5+

Sharekhan Account Opening Charge (AOC): Rs 750 Online, (Rs 500 Offline, plus Rs 160 franking charge) Annual Maintenance Charge (AMC): Rs 400 Brokerage: Higher of 0.5% or 10p (delivery). 0.1% or 5p (intra-day). Browsers: IE 6.0+ and Opera 7.0+

SMC India Account Opening Charge (AOC): Rs 499. Annual Maintenance Charge (AMC): Nil (till March 2010).

Brokerage: 0.3% (delivery). 0.03% (intra-day). Browsers: IE 6.0+

Ventura Account Opening Charge (AOC): Nil. Annual Maintenance Charge (AMC): 1st year free; 2nd year on Rs 400 Brokerage: 0.2% (delivery). 0.03%(intra-day). Browsers: IE 6.0+

Way2Wealth Account Opening Charge (AOC): Rs 350. Annual Maintenance Charge (AMC): Rs 332. Brokerage: 0.5% (delivery). 0.05% (intra-day). Browsers: IE 6.0+

Documents needed to open a brokerage account To open a brokerage (demat) account you will need to furnish copies of the following documents. 1. PAN card - this is a mandatory requirement. (Here is NSDL's official site to apply for a PAN card.) 2. address proof - you may submit a copy of one of the following to fulfill this requirement passport voter id card ration card driving license telephone or electricity bill