Kindly make sure you are checking on an everyday basis the interest rates being charged on your margin funding. This is done on a daily basis. Disturbing evidence coming to light has shown that some RMs, associates and regional managers, in order to meet their targets---are changing the setup-exe files in their offices, so that the interest rates are increased from say 15% to 19% and even 21%.
My suggestion to all is please get out of MARGIN FUNDING, since many of us do not understand that this daily compounded interest ends up to 2-3% a month and 30% a year, - all done without your knowledge.
Remember the markets direction has changed, notwithstanding the 1000 pts up we have seen in 3 days, but certainly the "tantric sex" all of us were having with stock futures are no longer going to be the same.
This is putting huge pressure on RMs and they have once again started playing around with clients' accounts. In the early days, it was "trading without customer's knowledge". It has now become even more sinister.
cheers,
nkpanjiyar
courtesy: Bob
My suggestion to all is please get out of MARGIN FUNDING, since many of us do not understand that this daily compounded interest ends up to 2-3% a month and 30% a year, - all done without your knowledge.
Remember the markets direction has changed, notwithstanding the 1000 pts up we have seen in 3 days, but certainly the "tantric sex" all of us were having with stock futures are no longer going to be the same.
This is putting huge pressure on RMs and they have once again started playing around with clients' accounts. In the early days, it was "trading without customer's knowledge". It has now become even more sinister.
cheers,
nkpanjiyar
courtesy: Bob