Action Financial Services (AFS)

carnot11

Active Member
#2
"Dalali ki Halali" is the tag tile for Action Financial Services (AFS)

1 paise for per executed trade order + 1200 annual AMC + 50K non interest bearing deposit (refundable) + Free account opening

https://www.actionfin.com/Product-Services.aspx

https://www.actionfin.com/Product-Services.aspx
Hello,

Hmmm....Rs. 50K as non-interest bearing deposit (refundable).

Plesae may I know what is the guarantee of refund as this is a voluntary deposit and not governed by any law or rule.

At simple interest of 8% p.a. it works as Rs. 4K p.a. In other words the offer is to get 1 paise for per executed trade order, you have to pay

Rs. 1200 annual AMC
Rs. 4K fixed charges p.a.

Statutory charges at actual (like stamp duty, turnover, clearing etc. etc.
Other charges (call n trade, DP, physical contract note etc. etc.)

Enjoy,
CArnot
 

Creep

Active Member
#3
It sounds like a con, their balance sheet shows losses for 5 years, they have recently raised 2 crores in loan, must be using it for all the advertising...

Love the Dalali ki halali, very creative campaign..

More than dalali ki halali, it sounds like investors/trader ki halali in the waiting.. ;)..
 

mastermind007

Well-Known Member
#5
Hello,

Hmmm....Rs. 50K as non-interest bearing deposit (refundable).

Plesae may I know what is the guarantee of refund as this is a voluntary deposit and not governed by any law or rule.

At simple interest of 8% p.a. it works as Rs. 4K p.a. In other words the offer is to get 1 paise for per executed trade order, you have to pay

Rs. 1200 annual AMC
Rs. 4K fixed charges p.a.

Statutory charges at actual (like stamp duty, turnover, clearing etc. etc.
Other charges (call n trade, DP, physical contract note etc. etc.)

Enjoy,
CArnot
Ohhhhh

The sales rep called about 10 times after I posted a web inquiry. She mentioned everything but the 50K!!!. She was even willing to send someone to get me to sign forms. Nowadays, you do not need to write by hand. you type up it in browser and then take print outs.
 

TraderRavi

Well-Known Member
#6

mastermind007

Well-Known Member
#9
Ohhhhh

The sales rep called about 10 times after I posted a web inquiry. She mentioned everything but the 50K!!!. She was even willing to send someone to get me to sign forms. Nowadays, you do not need to write by hand. you type up it in browser and then take print outs.
Correction!!!

Action Fin Service rep is claiming that min deposit is 5000/- which puts you in lower annual turnover bracket 20-30L and the rep informed me that this deposit is required by SEBI.

Frankly, I am confused by the turnover concept. If I trade single lot of nifty F1 Intraday, I need 30K approx. So, is my turnover 30K, 60K, 3L or 6L?

Similarly Online calculator on AFS site for Options calculation leaves me somewhat confused. If premium of Single lot XYZ strike is 50Rs, I pay 2500 to purchase it, so is my turnover in that case 2500 or 50 x the Strike Price of Option.

I don't remember whether or not I had looked at all this when I opened account at SK but that was a novice version of me !!!
 

josh1

Well-Known Member
#10
Correction!!!

Action Fin Service rep is claiming that min deposit is 5000/- which puts you in lower annual turnover bracket 20-30L and the rep informed me that this deposit is required by SEBI.

Frankly, I am confused by the turnover concept. If I trade single lot of nifty F1 Intraday, I need 30K approx. So, is my turnover 30K, 60K, 3L or 6L?

Similarly Online calculator on AFS site for Options calculation leaves me somewhat confused. If premium of Single lot XYZ strike is 50Rs, I pay 2500 to purchase it, so is my turnover in that case 2500 or 50 x the Strike Price of Option.

I don't remember whether or not I had looked at all this when I opened account at SK but that was a novice version of me !!!
For futures, if you buy n sell 2 lots intraday of Nifty, your turnover 100 * Rs.5900 = 5.9 L if calculated only on one side.
Options, logically your premium should be your turnover. So 2 lots of Nifty at Rs.100 premium would be Rs.10000 on one side.
but some brokers add premium to the strike price. If that is 5900, then turnover will be addition of above two.
 

Similar threads

Trade in Rs 20, No more % brokerage

Name:Phone:
Email:City:
State:
Are you a day trader?