Unlimited Trading Plan: What’s the catch on Fixed Brokerage Plan ?

Unlimited Trading Plan, Fixed Monthly brokerage plan for share traders in India.

Unlimited Trading plan Review

During the initial days of my daytrading career I had subscribed to one of these plans. As an beginner over-trading on stocks, I was of the assumption that, a fixed brokerage plan will do me good. Reducing the heavy brokerage outflow to contribute more to my profit margins.

But, the above logic proved wrong with my own personal experience.

The saying “you pay peanuts you get monkeys” was right while making this decision.

With the recent growth in Indian brokerages sector, new brokerages are opening up like mushrooms. Offers for fixed monthly brokerage plan to help you save on trading charges. Promising to help you become the next wolf of wallstreet with unlimited trading options.

Unlimited Trading Plan brokerages with no investment in Research or Development.

Trading terminals that are 10 years old and complicated back office systems leased at cheap rates and supplied to clients. This is what the low cost brokerages does to you. You will find 80{323544ffa4e7a5aa23388d63e86002a095a70a0cd35f73644a238e7406151557} of the brokerages in India supplying the same outdated trading terminals to their clients.

As a daytrader, How can you expect to win against HFT computers with such outdated technology. A question you need to ask yourself.

For a daytrader, I realized through experience that:

Unlimited Trading plan Review

 

  1. The trading terminal I use was my first line of defense to protect my capital. A modern terminal that is user friendly and fast to execute my trading strategy realtime. A trading platform that can help me get in and out of trades quickly with only one click.This was necessary, since the algorithms and robots that are now let to roam free on our exchange servers are super fast.  These robots wants to trap the trader  while the eyes are off the screen to type in the exit orders.
  2. I wanted the records keeping and back office system of the broker to be reliable and easy to navigate. A user friendly system that was transparent with no hidden charges. A system where I can review my trading progress and also generate trading reports for IT Returns.

In my research on this, trying to find a fixed monthly brokerage plan with a good trading terminal. I have not found any. A fixed monthly plan brokerage, with a modern trading terminal is not out there yet.  After all “you pay peanuts you get monkeys”.