Indiabulls Users could you confirm about MFSS

#1
I Want to know if any Indiabulls User is using MFSS (Mutual Fund Service Schme) on NSE.

Is it possible to trade in mutual funds from Indiabull Demat account.
If yes de we have to fill separate form or is it auto enabled.

Regards
Ajay
 

alroyraj

Well-Known Member
#2
I Want to know if any Indiabulls User is using MFSS (Mutual Fund Service Schme) on NSE.

Is it possible to trade in mutual funds from Indiabull Demat account.
If yes de we have to fill separate form or is it auto enabled.

Regards
Ajay
You can mail and ask the customer care.They are quite efficient. Until you mentioned I did not remember hearing about this feature. I mailed the customer care they said they do not offer this at present.
 
#3
Thanks alroyraj for inquiring on my behalf.

After I posted my query I visited Indiabulls Office and Inquired about the same.
The people in office had no clue of this either.
They then rang someone and confirmed that it is possible to trade in MFSS.

But I have yet to hear from actual users of indiabulls.

Its strange that this scheme was launched in NOV 2009 and yet it has not gained the kind of momentum we expected.

Regards
Ajay
 

alroyraj

Well-Known Member
#4
Thanks alroyraj for inquiring on my behalf.

After I posted my query I visited Indiabulls Office and Inquired about the same.
The people in office had no clue of this either.
They then rang someone and confirmed that it is possible to trade in MFSS.

But I have yet to hear from actual users of indiabulls.

Its strange that this scheme was launched in NOV 2009 and yet it has not gained the kind of momentum we expected.

Regards
Ajay
I have not seen it written anywhere or even seen it on the website. Maybe the profile of Indiabulls users is such that there are not much mutual fund investors. :lol:
Actually what is MFSS really?! And is the mutual fund platform that SHarekhan offers the same thing?
 
#5
MFSS is basically buying MF in demat form from NSE.
Many MF houses are registered for MFSS.
So anyone having a demat account can buy MF from NSE provided DP has registered for the same.

More details can be found below

http://www.nseindia.com/content/mfss/mf_introduction.htm
http://www.nseindia.com/content/mfss/mfss_faq_investor.pdf

List of Eligible scheme for MFSS
http://www.nseindia.com/content/mfss/mf_schemes.htm

Its different from other Online Mutual Funds (ICICI Direct For example) in a sense that
1. Its in form of DEMAT so linked to demat account
2. Its regulated by NSE
 

alroyraj

Well-Known Member
#6
MFSS is basically buying MF in demat form from NSE.
Many MF houses are registered for MFSS.
So anyone having a demat account can buy MF from NSE provided DP has registered for the same.

More details can be found below

http://www.nseindia.com/content/mfss/mf_introduction.htm
http://www.nseindia.com/content/mfss/mfss_faq_investor.pdf

List of Eligible scheme for MFSS
http://www.nseindia.com/content/mfss/mf_schemes.htm

Its different from other Online Mutual Funds (ICICI Direct For example) in a sense that
1. Its in form of DEMAT so linked to demat account
2. Its regulated by NSE
There was something in the news about it having lower charges even free. If that is true what is the incentive for them to offer it.
 

alroyraj

Well-Known Member
#7
MFSS is basically buying MF in demat form from NSE.
Many MF houses are registered for MFSS.
So anyone having a demat account can buy MF from NSE provided DP has registered for the same.

More details can be found below

http://www.nseindia.com/content/mfss/mf_introduction.htm
http://www.nseindia.com/content/mfss/mfss_faq_investor.pdf

List of Eligible scheme for MFSS
http://www.nseindia.com/content/mfss/mf_schemes.htm

Its different from other Online Mutual Funds (ICICI Direct For example) in a sense that
1. Its in form of DEMAT so linked to demat account
2. Its regulated by NSE
Just today I came to know that SCHIL Stock Holding Corporation of India offers this facility. :thumb:Maybe you can enquire there how they go about it. Probably it is a standardised method. I think not many traders would be too anxious to get this facility. ;)