Advance brokerage system - A TRAP

ratan jain · #11 17th July 2008, 12:17 PM

Look at my post again dear..... where have I mentioned that 750 is your capital....

What I am saying is that if you loose your flesh and skin in loosing 750 rs then you are frail trader.

Also, why do u have to trade to recover your amount?

Cant you let it lapse?

Will they put you in jail if you do not complete that 750 rs worth of trading?

Read my post again, MAYBE you will understand what I was and am trying to say.

Czar · #12 17th July 2008, 01:06 PM

he himself

aircraft · #13 17th July 2008, 01:12 PM

why go lapse. It is our money. Every rupee put in market counts wheather it is brokerage or tax or may be trading capital it is immaterial. All expenses will drop your profits. What is the fun in giving money or paying advance brokerage just to get it lapsed without trading. What else can be said for Making an expenditure well before earning(even before getting an opportunity of earning).

ratan jain · #14 17th July 2008, 01:34 PM

Ok fine... Dont pay advance brokerage

Happy

By the way, I just tried to get an office on rent, I gave him the same argument, I will use your office, and THEN make payment. How can I start out making payments even BEFORE I have made any business transaction. On top of it all , he even asked for a deposit of 6 months rent. What nerve.... ! I shall show him this thread, and then maybe he will give me the office without deposit, and I will make the rent payment only when I have started the business, and that may take a few months, as I have to get regulatory clearance from many places.

But so what, I HAVE to make sure that my expenses do not start BEFORE I make any transactions.

Oh yes, I have also asked my mobile company to stop my services, because they are also charging ADVANCE rental for the next month, in the bill. HOW can they charge me even BEFORE the month has started? What nerve!!!! A copy of this thread will go to the mobile service provider too!

This thread has opened my eyes!

And yes, have sent a letter to my car insurance company too, to terminate my insurance, as they also have the guts to charge me ADVANCE premium.
Imagine, even before my car gets stolen or damaged, they want the premium! and that too for the entire year in advance! What nerve! 1 copy of this thread to the insurance company too!.

aad · #15 17th July 2008, 05:38 PM

Quote:

Originally Posted by ratan jain

Ok fine... Dont pay advance brokerage

Happy

By the way, I just tried to get an office on rent, I gave him the same argument, I will use your office, and THEN make payment. How can I start out making payments even BEFORE I have made any business transaction. On top of it all , he even asked for a deposit of 6 months rent. What nerve.... ! I shall show him this thread, and then maybe he will give me the office without deposit, and I will make the rent payment only when I have started the business, and that may take a few months, as I have to get regulatory clearance from many places.

But so what, I HAVE to make sure that my expenses do not start BEFORE I make any transactions.

Oh yes, I have also asked my mobile company to stop my services, because they are also charging ADVANCE rental for the next month, in the bill. HOW can they charge me even BEFORE the month has started? What nerve!!!! A copy of this thread will go to the mobile service provider too!

This thread has opened my eyes!

And yes, have sent a letter to my car insurance company too, to terminate my insurance, as they also have the guts to charge me ADVANCE premium.
Imagine, even before my car gets stolen or damaged, they want the premium! and that too for the entire year in advance! What nerve! 1 copy of this thread to the insurance company too!.

Kindly post this in Ganesh's thread "Jokes, humour and shayaries" too...

CV and RKKarnani stopped with few posts and poor Ratan got caught...

Quote:

Originally Posted by rkkarnani

Advance Brokerage is useful for High Volume traders!!!! People scalping for smaller profits can benefit from lower brokerage!!! If a person is having a BIG turnover , he MUST opt for lower brokerage, even if he has to PAY IN ADVANCE!!!

Aircraft Sir, actually you got the correct answers from CV's post as well as rkkarnani's post. And since India is a democratic country, you are entitled to your views and actions which are best suited to your purpose.

Regards,

Abhay

aircraft · #16 17th July 2008, 06:07 PM

Again for office and other business you need infrastructure to operate. Here just a computer and internet connections does the business for you.(no desk space rent also if you use a laptop-Ah..Ah..Ah..)

Boss, in case of Mobile,insurance and rent risk is borne by others so naturally they insist on advance payment. But in trading does any risk lie on the brokerage company. It is you who take the full risk.

So you take the risk , they enjoy advance brokerage-how funny it sounds.

Now forward this thread to all companies or forward for all of them. Let them have a look.

As ABHAY points I also feel that this thread has now become humorous. Why not try placing in some joke forums to show how people get caught.

CreditViolet · #17 17th July 2008, 06:22 PM

Quote:

Originally Posted by aircraft

Again for office and other business you need infrastructure to operate. Here just a computer and internet connections does the business for you.(no desk space rent also if you use a laptop-Ah..Ah..Ah..)

Boss, in case of Mobile,insurance and rent risk is borne by others so naturally they insist on advance payment. But in trading does any risk lie on the brokerage company. It is you who take the full risk.

So you take the risk , they enjoy advance brokerage-how funny it sounds.

Now forward this thread to all companies or forward for all of them. Let them have a look.

As ABHAY points I also feel that this thread has now become humorous. Why not try placing in some joke forums to show how people get caught.

If it all sounds so easy why not start a brokerage office and enjoy the risk free income?

aircraft · #18 17th July 2008, 07:38 PM

Why start a brokerage to have a indirect look of others risk. Why not you try hands on direct market to look at direct risk instead of advising.

Today brokers allow only trading on the margin kept with them. In volatile market they safe guard themselves and remove exposure. If price drops or you becoming a defaulter by not paying for margin call brokers mercilessly liquidate your stocks. They have your power of attorney -mind this. Does this not guarantee a risk free business as far as client is concerned?

I have not come across any brokerage which takes client risk on them. Risk is always on client and brokerages charge commissions only for the trading facility provided to the individual. In no way they take risk virtually for a risk free business. I think this might be one of the reason why many brokerage houses have come to this arena than a decade and half ago.

CreditViolet · #19 17th July 2008, 08:01 PM

Quote:

Originally Posted by aircraft

Why start a brokerage to have a indirect look of others risk. Why not you try hands on direct market instead of advising.

But you are the one saying its all easy risk free money, I am not. And perhaps you should start an account and start trading instead of whining about trivia like some advance brokerage. Even for pro traders there is something called committment volume which decides on the brokerage. If you dont do certain amount of volume for a few months, the broker will try to negotiate the brokerage.

Quote:

Originally Posted by aircraft

Today brokers allow only trading on the margin kept with them. In volatile market they safe gaurd and remove exposure. If price drops or you becoming a defaulter by not paying for margin call brokers mercilessly liquidate your stocks. They have your power of attorney -mind this.

Now you are complaining about margin? Should brokerages penalized for following the rules laid down by SEBI. Where have you been trading before you decided to trade Indian markets, communist China?

milkyblack · #20 17th July 2008, 09:34 PM

Quote:

Originally Posted by ratan jain

Ok fine... Dont pay advance brokerage

Happy

By the way, I just tried to get an office on rent, I gave him the same argument, I will use your office, and THEN make payment. How can I start out making payments even BEFORE I have made any business transaction. On top of it all , he even asked for a deposit of 6 months rent. What nerve.... ! I shall show him this thread, and then maybe he will give me the office without deposit, and I will make the rent payment only when I have started the business, and that may take a few months, as I have to get regulatory clearance from many places.

But so what, I HAVE to make sure that my expenses do not start BEFORE I make any transactions.

Oh yes, I have also asked my mobile company to stop my services, because they are also charging ADVANCE rental for the next month, in the bill. HOW can they charge me even BEFORE the month has started? What nerve!!!! A copy of this thread will go to the mobile service provider too!

This thread has opened my eyes!

And yes, have sent a letter to my car insurance company too, to terminate my insurance, as they also have the guts to charge me ADVANCE premium.
Imagine, even before my car gets stolen or damaged, they want the premium! and that too for the entire year in advance! What nerve! 1 copy of this thread to the insurance company too!.

Best laugh of the day!
Hey RJ tell me if it works to show this thread... to those companies! Then even I will try out lolz!!!

Regards