1 paisa per trade ? Is it true? BMA Wealth Creators

Discussion in 'Brokers & Trading Platforms' started by timepass, May 31, 2011.

  1. timepass

    timepass Moderator

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    Idhar ich, aur kidhar?
    :confused:

    Recently there has been a spate of advertisements about BMA Wealth Creators who advertise their service at 1 paisa per trade !!! Is anyone of you using their services? Any feedback? They are using Kareena Kapoor :))) in their advertisement.

    I tried their toll free number 2-3 times (1860-3000-1099) but it was busy. I didn't want to SMS them .. not yet.

    Check out these links from google.
    http://www.bmawc.com/Default
    http://www.consumercourt.in/product...fraud-company-beaware-type-fraud-company.html

    PS : as I was typing this, I received a return call from them. It seems that the scheme is for unlimited trading for 3 months if you pay advance brokerage of Rs. 8272 (equities) or Rs. 16000 (something like that) for equities + forex + derivatives.
     
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  2. Rish

    Rish Well-Known Member

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    It is oneway of collecting the brokerage, no system in that Company. I know there system. Be aware.
     
  3. Rish

    Rish Well-Known Member

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    All you Delivery shares will be with companies Demat Account (it will not be transferred to your Demat a/c) also you will not get your dividend. Be careful. Just for Brokerage, think twice...................
     
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  4. viren1

    viren1 New Member

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    They are chrging brkg in advance , nothing else...
     
  5. SavantGarde

    SavantGarde Well-Known Member

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    Any Brokerage Firm Asking For Lumpsum Brokerage in Advance STAY AWAY - No Second Thought.

    SG
     
  6. cmak

    cmak Member

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    TP sahab....

    I have a very very very bad experience with these BMA people. Don't be a bakra to their gimmicks.
    Still now, I am receiving the bills for the trades I had done in August/September 2010.
    I had closed their account in March 2011 without getting proper bills+disputed ledger amounts, as I was frustrated:annoyed: with their poor services, disguised way of collecting money in bills,etc.

    As for 1 paise brokerage is concerned---- it is an old trick used by Reliance Money few years back.... for your information .... One of the directors of BMA is Ex-Reliance Money executive.

    Now for Kareena.... I never fascinated of her as her looks give impression of Vampire in english moovies. (my personal view)

    Take proper homework before jumping to BMAWealth where wealth erosion is high.

    Good luck.

    Regards
    CMAK:cool:
     

  7. timepass

    timepass Moderator

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    Not necessarily, SG. Sharekhan has different schemes of advance brokerage where the brokerage goes down with the amount of advance you pay (Rs. 2k, 6k, 10k, 18k, 30k and 100k schemes). On the plus side, the amount of advance brokerage (AMC) is credited back to your account.

    But this BMA thing appears to be a blatant lie since the advertisement doesn't even say (*) "Conditions apply".
     
  8. SavantGarde

    SavantGarde Well-Known Member

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    Hi TP,

    Offering bigger slab on individual trades and then offering advance brokerage is different.... They are in a competitive market.

    Secondly, as a general thumb rule Advance brokerage is No ..No... such plans are only advantageous to very very few traders... and for those few... they won't bother with a thread like this.



    SG

     
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  9. RAVI1952

    RAVI1952 Member

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    I am having a very bad experience with BMA. This company is a cheat. Never open account with them. I have made complaint against them to NSE. NSE is just a post office. They do not even read the complaints and just pass the papers. These brokers are able to chaet as NSE and SEBI is totally ineffective.
    Can someone provide me contact details(e-mail addresses of CMD of NSE and Sebi.
     
  10. mangup

    mangup Well-Known Member

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    I have still not understood what exactly the problem in dealing with BMA? Latest update is they are charging advance brokerage of Rs.7500/- for Cash & Rs.15,000/- for Cash+F&O. If some one whose trading is high in f&O, they are really finding it economical (It is much cheaper than RK Global's Rs.9/- per lot in options).

    Their online platform is Omnesys's Nest software which is being used by most of the renowed brkerages.

    Can anyone tell me what is exact problem in dealing with them?

    Regards,

    mangup
     
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