Dear Seniors,

I am new user in IPO market. I have certain queries regarding setting up my online banking & trading a/c for this purpose.

I presently have a saving & demat a/c with AXIS Bank with AQB of 5000/- & annual Demat charges of Rs.551/-. They have an online trading service called AXIS Direct for which they charge Rs.850/- upfront set up fee, one time. Delivery .5 & Intraday .05.


ICICI Bank is offering similar 3-in-1 a/c with 950Rs. annual charges to be paid every year. Delivery .5 & Intraday .05. Bank a/c to be maintained with, Rs.5000 AQB as of now.

Kotak Securities is offering similar 3-in-1 a/c with 750Rs. one time setup fee & demat charges of 30Rs per month. Delivery .3 & Intraday .03. Bank a/c to be maintained with, 0 AQB as of now.

Since I do not have any experience in trading can you guide me which service could be suitable & time and cost efficient. I can opt for third party trading a/c also if you can recommend any good which is equally beneficial or better.

Also please tell me if the transactions between trading a/c & bank a/c are seamless( instantaneous credits) or we have to wait for a day or two after selling the scrips fro the credits. And in case of third party trading a/c we have to compulsarily wait for some stipulated days for credit.

My initial use will not be intensive & will be restricted to selective IPO's. But later if I get time for research I might get in to equity delivery trade also.

So please advice me.

TIA

Inderjit Singh

Annual demat charges are 500 per annum.

the staff quoted me combined charges for Demat a/c+ trading a/c charges of Rs.950.