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.

8 comments:

Rajeev Daniel said...

Mahesh Ji,

Recently I sold a penny stock i had with a profit of 25 percent and i finally didnt get anything. I noticed the brokerage lately and I was supposed to contact them. Thanks for this post.

mahesh chander kaushik said...

thanks rajeev daniel ji for your comment

jitendra sahu said...

good source of stock news

Anonymous said...

yes..this is ridiculous. When I spoke to the representative after noticing it, one of them said, if the traded value for the month is more than Rs 4000 then it is waved off..so I started doing that and then found there was no change. The representatives themselves have no clue about the brokerage. This is too much..not sure if we can raise this with any entity?

Anonymous said...

Register your complaint on scores.gov.in . they will address the issue

Kaustav Roy said...

Banks shall not take any minimum per trading charge like Rs 20 to 30, so that an investor or trader can buy or sell small amount to learn the process depending on his/her capacity. In that case a major propulation can safely join the market with low level of investment till they learn the whole process & gain confidence. Besides that banks & other Security investment companies shall train all investor or trader free of cost through various media & TV to attract /involve more small /mini investors in this process.

Kaustav Roy said...

Banks shall not take any minimum per trading charge like Rs 20 to 30, so that an investor or trader can buy or sell small amount to learn the process depending on his/her capacity. In that case a major propulation can safely join the market with low level of investment till they learn the whole process & gain confidence. Besides that banks & other Security investment companies shall train all investor or trader free of cost through various media & TV to attract /involve more small /mini investors in this process.

Mahesh Chander Kaushik said...

Thanks all of you

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