Wednesday, August 15, 2012

CAUTAION : ICICI DIRECT CHARGE VERY VERY HIGH BROKARAGE ON PENNY STOCKS

1. Icici direct make revision of brokerage charges of stocks traded at Rs. 10.00 or below. Stocks trading at Rs. 10.00 or lower are popularly known as 'Penny stocks'.and from 1 July 2012 they charge very very high brokerage on penny stocks suppose you buy 10000 stocks of cals refinary than your trading amount is 0.25*10000=2500 but icici charge you brokerage of 0.05 per share it is 500 and also charge other statutory charges so you will pay near 530 brokerage on trade of 2500 this is more than 20 % brokerage rate and i wonder how stupid they are???
2.Earlier the brokerage on I-secure and I-saver was 0.55% and 0.75% on entire traded amount. However now the brokerage on stocks quoting up to RS. 10.00 would be levied at Rs. 0.05 per share. The total brokerage on such trade would be higher of Rs. 0.05 per share or Rs. 35.00, subject to maximum of Rs. 0.25 per share. All Statutory charges would be levied over and above the brokerage .
3.Further, Stocks trading at Rs.10.00 or lower are popularly known as Penny stocks.
when i ask them to reason of this killing brokerage they reply me "These stocks are generally of Small Cap. companies and are have higher risk associated with them.
Considering the potential risk, it is advisable that customers look at Large to Mid Cap. stocks. " i wonder to see this narrow minded reply.
4. The brokerage details are also available online on www.icicidirect.com under the brokerage link of customer service page.
For any further queries, you may contact our Customer care number on 022 28307777 for further assistance.
dis closer :- i am a customer of icici direct and just share my view on this high brokerage rate and i never wish to down reputation of company.

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