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January 2nd, 2015, 6:29 am | By trader | Published in LUNCH IS FOR WIMPS | Comments on this postComments Off

As the bull market congregates and gathers its momentum, brokerage houses are making new approaches to draw clients in order to get a hefty share of their profit. WealthRays Securities and ICICdirect both having recently spearheaded their respective plans wherein customers will be paying only if they make a substantial profit on an intraday trade.

Should the trades result in considerable loss, they will no longer be paying any brokerage coverage. As per ICICdirect’s structure, investors can make various trades in Nifty contracts intraday and pay brokerage only if the trade is considered profitable.

ICICdirect made claims in using data analytics to better appreciate and understand customer/client behaviour and favourably believes that this structured approach will better secure the interest of investors who, more often than not, won’t be required to exit their derivative trades in fear of higher net losses due to additional brokerage expenditures and costs.

Paying more brokerage only when one profits will greatly assist investors exit positions that are purely based on their outlook regarding the market without bothering about any additional expenses that they are anticipating to incur. Furthermore, ICICdirect has commenced its offers to this scheme only among Nifty contracts which gives account to roughly 65 % of the total number of derivatives.

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