testing what? Indian brokers like RK Global are offering 9 INR/contract brokerage whereas IB is charging 100 INR. its like a US telecom giant entering the Indian market and charging 10 INR/minute. in your analogy you are confusing things. theres always a difference between a sunrise sector and entering the market midway. voda entered the Indian market midway through an acquisition. when Reliance entered the Telecom market (calls at that time costed 2 INR or so/minute) they didnt charged a hell. the gave the existing players some sleepless nights with their cheap packages. same with broking. when reliance entered they charged .005% (their limit cards translated to that). the cheapest one can get. if IB want market they have to be competitive. the sooner they understand the better it is for them. well what can i say ET missing some flashy smilies ya, true, theres no completion here. even if they start a fight they soon realize its only them who are the losers and soon get back to the table. be it broking, airlines, telecom or whatever but looking at IB's approach dont really think new bars are being raised sometime soon. we poor souls have to wait a bit long just as we did with e*Trade. but still finger crossed. ANYBODY FROM IB LISTENING as I already said, RK Global charges 9/lot. taking two lakh as a lot size thats transtale to .005%. the lowest slab for IB is 0.015%. thats 3 times more. the problem is IB still has no gameplan for India. you cannot have US rates for India. for ES,YM etc IB charges 2.4$. its a sham if IB charges 100 INR* (2$) for one lot of Nifty. *dont forget the plethora of taxes.
Testing waters They are operating out of a business center. They are connecting clients through a Hong Kong based Hub...I believe orders are going all the way to HK, only to come back to NSE India...ditto with feed...at least that's where my computer is connecting. They don't have a local India based helpdesk number...those desperate call HK on ISD...I know I did...and those that are not in an urgency, but cannot be supported by local marketing staff are called on phone from HK. Routine Chat Helpdesk is not aware of half the India specific issues. They are not ready with DMA access to NSE for clients yet. They are not yet connected with BSE, MCX, NCEDEX. Hell, even NSE's currency segment is not available yet. They are even servicing their clients from the same high cost call centers...and paying for servicing Indian clients in Dollar denominated salaries....unless of course, their chat call center activity is already outsourced, which I doubt. I am reminded of a person dipping toes in water to gauge temperature before bathing I remember paying 16/- Rs. minute when cellphones started....and today we are paying the cheapest calling rates in the world Just give it some time for them to realize their mistakes, fine tune their market entry plans, either before or after other international brokers enters and some time for them to realize like the MNCs did...that the goldmine in India is at the bottom of the pyramid....they will change their prices faster that you can wink! As is, they are not geared for large number of clients as yet. Sanjay.
boy its midnight out here so i keep it short. IB have a office at Bombay. the numbers are at their site. I did called them. maybe you should too. BSE. do anybody trade it that relic. again you are confusing. will you pay such rates today if some US telecom giant starts their "cutting age" services for such rates. mistake. yes thats exactly what I am saying. they should rethink their India strategy, if they had one.
Yes, they do. As I said, its in a business center, as normally many new foreign companies do sometimes. And there's no customer services there in the troubleshooting sense. Its marketing people & client evaluation staff (KYC norms) doubling to troubleshoot minor problems of their new clients. If you have a major issue, its going to be solved by HK.