In the last few years you must have seen a proliferation of discount brokers in India, offering you everything from low brokerage to no brokerage offers. But the big challenge in discount broking is that you are entirely on your own and you need to navigate trades all by yourself. You do not get any advisory support or research guidance. Is there a trading solution that combines the best of low brokerage with quality advice and research support? The answer could lie in Religare Broking’s Instant Discount Plan (IDP).
What is this Religare Broking IDP all about?
The IDP is a special discounted brokerage plan where you will be entitled to a steeply discounted brokerage by placing deposit in advance. This advance deposit will be used to adjust your brokerage. Here are some of the key highlights of the IDP:
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Under the IDP, you can select the Instant Discount Plan (IDP) according to the volumes that you propose to do with Religare. For example, if you opt for IDP-10 plan, then you just pay Rs.9,999 as advance brokerage and you instantly start getting discounted brokerage working for you. Alternatively, if you want to trade more aggressively, you can opt for an IDP-50 plan where you pay Rs.49,999 as advance brokerage and you start enjoying a much steeper discounted brokerage immediately.
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The IDP is applicable to equity delivery trading, intraday equity trading, stock futures trading, stock options trading, index futures trading, index options trading as well as currency futures and options. You can pay a single comprehensive advance brokerage and use the benefit of discounted brokerage across all the above products for trading.
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Brokerage will be charged in your contract note as per your normal plan applicable to you. However, based on your volumes, your brokerage will be appropriately discounted and the actually brokerage will be adjusted against your advance brokerage paid. However, the reversal will only be for the brokerage amount and not for statutory charges which you will have to pay separately.
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The real advantage of the IDP is the add-on benefits that you will get along with the IDP plan. The account opening charges are anyways Nil but your DP AMC charges will be waived for the first year. In addition, all research reports through the day and all SMS alerts will come to you absolutely free of cost. Even the paid research, which is normally billed to you at Rs.999 per year, will be free for the first 9 months. Effectively, you will be getting an attractive brokerage rate with the full support of research and advisory.
The IDP plan is open exclusively for new customers only. The beauty of this scheme is that you don’t need to bring in any margin to open the account; your IDP amount is good enough. However, when you want to actually buy stocks, appropriate margins will have to be brought and such margins cannot be paid out of the IDP amount.
How IDP can add value to you?
If you are planning to open a trading account and start trading, then the IDP should be your primary choice. Here are 5 reasons why you should opt for the IDP Plan:
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Instant Discount Plan (IDP) entitles you to very attractive discounts in the rates of brokerage. For traders in equity, futures and options lower brokerage can make a big difference to your trading break even.
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IDP comes with the added feature of free access to calls and research ideas. These are useful in helping you take a research view and do informed trading in equities, futures and also in options.
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You can opt for a single IDP plan and use the advance brokerage against your trades in delivery, intraday, stock futures, stock options, index futures, index options and also for currency derivatives. That makes it administratively a lot simpler.
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The IDP comes to you with added benefits like a waiver of account opening fee and a waiver of the demat AMC charges. These will also help you reduce your overall cost of trading and improve your profits.
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All IDP plans are valid for a period of 15 years of default and you have a wide array of plans to choose from depending on how much volumes you intend to do. In fact, you do not need to really worry about the costs of trading more aggressively in the market.
If you are looking at a trading account that is transparent, economically viable and treats you like a privileged customer, then the IDP could just be the product for you.
Now Trade with Religare with brokerage as low as 0.01%. Click here to know more
