Online Trading on the HDFC Website
Here's what you need to do to trade online:
Go to http://www.hdfcsec.com/ on Internet Explorer only. The website doesn't work properly on Firefox. Click on "Online Trading". Log in using username and password.
Look at menu near the top of the page (see picture). Click on "Buy and Sell" under "Equities and Deravatives".
The first row of boxes has the following information
- Trading a/c - your trading account number
- Product: Order can either be on a Cash-n-carry (CnC) basis or margin basis - CnC: 100% of the necesary funds are required to place the order - margin orders, only a certain % of the order value is required to place an order (Choose CnC, I think)
- Buy/Sell (Choose Buy)
- Exch - Exchange (Choose NSE here)
- Book- I think yours will be RL (Regular Lot). There is another kind of book called Stop Loss. Here's a description from the glossary "These are orders that become market orders when a certain price level is met. A sell stop order is placed below the current market level. A buy stop order is placed above the current market level. A stop loss order allows the investor to place an order which gets activated only when the last traded price of the share is reached or crosses a predefined threshold price also called as trigger price. Further on NSE, classification of orders can be defined based upon the longevity of an order"
- Instrument - (For Nifty BEES, the instrument is EQUITY)
- Symbol - Name of the actual thing you want to buy. Enter the Symbol as "NIFTY" and click on the magnifying glass on the immediate right of the "Symbol" box for searching. This will pop up a new window searching for all instruments with the word "NIFTY" in it (See picture below).
- What you want to buy is the Nifty Benchmark Exchange Traded Fund. Click on the code (NIFBENEQNR), this will put the code in the Symbol box. Click on the picture below to see what you should expect.
- Now press "Get Quote". This brings up information about trade prices that you can look at (see next picture) . Now close this window and go back to the main trading window.
- The second row of boxes can be used to place an order. Here are brief descriptions again.
- Order Types (Market or Limit) Market: An order by an investor to buy or sell a share regardless of price on that day. Limit Order: Orders that have thresholds, a useful safety measure. For example, you could place a limit order to buy 100 shares of Infosys for Rs 8,000 or better (or less). With that order, you could buy the Infosys stock for Rs 8,000 or for less than Rs 8,000. If the price is over Rs 8,000, you will not have your order filled. ( Yours will be Market)
- Quantity - number of shares you want to buy
- Disclosed Quantity - The system provides a facility for entering orders with quantity conditions. A DQ order allows the member to disclose only a part of the order quantity to the market. Note: This step is optional. (I think you could leave this one blank since disclosing is not an issue.)
- Price - If you entered Limit as the Order Type, enter the price you would like your trade executed at in the Price field. If you selected SL as the Book Type, enter the Trigger Price. (Since the above don't apply I think you will leave this blank as well.)
- Protection % - If you selected BSE as the exchange, and Market as the Order Type, then you can enter the Market Protection %. (Again, doesn't apply)
- Choose a Valid Till option. If the exchange selected is the NSE, choose between DAY and IOC (Immediate-Or-Cancel). If the exchange selected is the BSE, choose between SES (Session) and DAY (Not sure what you would choose - probably Immediate or Cancel)
- After all this is done click "Place Order". An order preview screen appears showing the information you just entered. If the order preview details are acceptable and as per the order you just entered, click Confirm Order.
Help
Places where I found this information from
- Click on "Help" a the top left of the trading screen. This contains a brief description of what is to be done in order to buy/sell.
- Definitions from their glossary at: http://www.hdfcsec.com/glossary/index.php?cat=&let=A
- The Demo. Click on Table of Contents on the top left of the demo screen. That makes it easier to find what you are looking for.
This is what happens when you click the "Help" on the top right end of the screen. It has a brief definition of what to do, and what to choose.
The demo is useful but long. You can see explanation for the different terms. If you hover on the question-mark, it shows you a definition of what the term means. This can be quite useful. Also, the table of contents will lead you directly to what the terms mean.
Limit
You can find information on your account by going to "My Trading Account". For example, to see if there are limits on the purchases you can make you can go to "Limits" under "My Trading Account" (see picture below).
Notes to HDFC
Thank you for having a website better than Geojit. However, you may not use this website to direct your customers till you make sure your website works in Firefox. You are forcing us to use Internet Explorer, a known buggy browser, for extremely sensitive financial transactions. Please support Firefox before you're left biting the dust by someone who does.
This page was last modified at: Mon May 15 22:45:10 PDT 2006