Canara bank's canmoney.in

[Sunny1]

hi sunny and others using canminey,

my account is operational but i have not traded so far. Plan to start to trade using the canloyal browser platform very soon. I am on their silver package, but still i am able to create 10 watchlists. Very interesting.

In the market watch window of canmoney, if i right click on the title reading 'market watch', a small new window opens with the title 'connection' is getting opened. This window contains two radio buttons named, 'request' and 'direct' and another button named 'reconnect'. On selecting either of the radio buttons and clicking 'reconnect', apparently nothing happens !

What is these buttons for and is something happening in the background.

Thanks in advance.

Murthymsr

if you click request it update quotes in the list once.
If you choose direct it will connect to live and update quotes automatcally tick by tick

 

[murthymsr]

Hi all,

I have opened a trading account with CanMoney of Canara Bank and I wanted to share my experiences with the account as I experience them.

Before anything else, I want to make it very clear that I am not in any way connected with CanMoney and have absolutely no interest in somebody opening an account with them or otherwise.

I will only be sharing my experiences / observations. The objective is to make members of this forum get a feel of what this new broker / platform is, which may help them in selecting their broker.

However if any member feels that I am doing a promotional activity, I will stop posting my observations immediately and the moderators may delete all the posts.

I have been trading with another broker for about 5 years and thought I must have a second trading account, so that I can judiciously distribute my trading among the two for optimization. I also wanted that my second account also be a fully integrated 3-in-1 account and has landed onto CanMoney, whose brokerage charges are lower than my present broker.

The process of submitting the application was very smooth and fast. New account opening is done by their own officers. (I don't think they have any agents). The concerned officer was very courteous and gave a briefing of the features.

Their toll free number is also manned by very courteous people . I get the number through at the first attempt itself even during trading hours and I got the information sought by me.

But, The whole internal procedure took a very LOOOOOOOOOONG time, a complete 30 days from the day I submitted my application to today when I got my last courier enabling me to trade availing all the features offered by them. This is where a lot is to be done by them to speed up the process. I don't think if any other broker will take this long a period.

I am on their 'SILVER' package and got access to their web interface about a week back. The interface provides live quotes. I have checked how 'live' their quotes are. For this, I compared the quotes with the time-stamped data of NSE abstracted from their intra-day chart, yah00 site after logging in and the other broker whose data I am using all along. I noticed that the quotes are live and are matching with other sources. I cannot confirm if they are live tick-by-tick, but the delay may be less than 5 seconds, most part of which may be the time taken for data transfer.

The web interface allows the user to create upto 10 portfolios with a max of 30 stocks/indices/futures. This may be more than sufficient for any user. I have not tried to monitor all the 10 X 30 = 300 stocks. One may not need that many and may also end up with bandwidth limitation, unless he subscribed to a very high speed / bandwidth internet.

The web interface is provided by TradeAnyWhere and looked good. Desk top real estate management needs some improvement.

The interface insists that we may use a particular screen resolution only. I am used to and comfortable with a higher resolution all along. If one uses two different applications demanding for two different resolutions, he has to do away with one of the applications.

Further, the interface will work with Internet explorer only and somebody like me who is highly addicted to Firefox and its add-ons find it a bit annoying. Now I run IE for CanMoney and also Firefox for my other applications simultaneously during trading hours.

The above two restrictions make me remember the silly fruit vendor offering to sell mangoes to only persons wearing dhotis and not pants or pyjamas!!!

CanMoney makes available very good set of flash videos which highlight the features and these are available at their website even before opening the account with them. One may go through them to get a virtual feel of the application. They have other higher end packages along with which they offer the software. (exe platform which has TA charts).

I have not made any trade so far on this account. I will be posting my experiences in due course as I encounter them.

I request all other users of CanMoney to post their experiences so that the learning curve may be faster for all of us.

Thanks for your time and Happy trading.

murthymsr

 

[Sunny1]

Thanks you for your comments. nicely mentioned all the points.
I have got application tradeanywhere enabled for me few days ago without going for higher upfront brokerage somehow they given to me. And now they are giving to gold and platinum customers also. otherwise nominal charge 200/-month.

 

[murthymsr]

Hi sunny,

Thanks for your support to new users of canMoney like me.

I observe that out of the 10 indices provided in CanMoney, I am not getting the data for BANKNIFTY, MININIFTY, CNXMIDCAP200 & CNXMIDCAP50. The first 2 are very important.

And how about you?

Thanks in advance.

murthymsr

 

[Sunny1]

Just checked first two e.g, banknifty and minifty. Getting it for minifty but not for banknifty

 

[murthymsr]

Hi all.

Further to my earlier post, I have migrated to the 'GOLD' package of CanMoney. Getting familiarised with TradeAnyWhere made available as part of package.

I have started trading, though in a small way.

ScreenShot attached.

Happy Trading !

murthymsr

 

[Sunny1]

Murthy,
Have you contacted canmoney as banknifty data is not coming.

 

[murthymsr]

Murthy,
Have you contacted canmoney as banknifty data is not coming.

Hi,

I have not talked earlier, but today, after your post, I asked them about banknifty, cnxit, minifty and midcap50, as I am not getting all these four.. They will checkup and inform. Will remind tomorrow.

murthymsr

 

[murthymsr]

Hi sunny,

Looks like Marginplus Trading is not presently available with CanMoney. (TradeAnyWhere SW package -> Charts -> RightClick -> Buy Margin / Sell Margin).

Presently Looks like only IntraDay.

Do you trade with Margins?

Thanks in advance.

murthymsr

 

[Sunny1]

Hi sunny,

Looks like Marginplus Trading is not presently available with CanMoney. (TradeAnyWhere SW package -> Charts -> RightClick -> Buy Margin / Sell Margin).

Presently Looks like only IntraDay.

Do you trade with Margins?

Thanks in advance.

murthymsr

Hi .

you are right its not available. There are two types of margin one normal margin exposure given for intraday it is 5 time exposure. Another is stop loss trading(slt) which you are talking about. in this only maximum amount of loss is blocked as margin therefore more exposure. you must give stop loss order.
I trade in margin only. no delivery trades.

Well I will contact them and let you know.