Traders are a new emerging community in India. As elsewhere, since this is not an organized community, they get raw deal from all related institutions like bokers, bse/nse, sebi, state/central govts. etc
I) For a retail trader, in spite of online trading, trading is not truly transparent. for example, if you think an order has been placed by you online but not executed by broker (may be due to faulty software) or inversely an order is not placed by you or cancelled by you, but the same has been executed by the broker. In such instances, brokers software do not allow you to save the complete order book in your computer and you have to be totally dependent upon the brokers promptness. No electronic logbook is made available to the retail consumer.
II)I had been to NSE’s website and tried to register myself for lodging a complaint but left the attempt due to cumbersome procedure. An email sent to their address bounced back .NSE is daily confirming the trades carried out on mobile as well as on email address but the info sent is totally useless. The info will be really useful iff all time stamped orders in the order logbook are sent to individuals. This would be useful for cross verification of orders given by brokers.
III) Tell me a single broker who has designed a scanner keeping in view retail traders needs.
IV) No differentiation is made by brokers for online traders and others and there is huge difference in service charges of brokers .And regulators like exchanges, sebi, state/central govts keep mum on these issues and keep on increasing taxes thro’ budgets. They are totally unaware that trader’s survival is dependent on keeping these Misc charges small. In a way they are killing retail trading.
V) Facilities provided by online brokers are for names sake. Eg charts provided by some brokers is for 3/5 days only and of one time frame only. Under such circumstances charges levied are not justifiable.
Other traders may have some issues which I request them to bring out here so that some day authorities may pay attention to these issues.
Regards
girish
I) For a retail trader, in spite of online trading, trading is not truly transparent. for example, if you think an order has been placed by you online but not executed by broker (may be due to faulty software) or inversely an order is not placed by you or cancelled by you, but the same has been executed by the broker. In such instances, brokers software do not allow you to save the complete order book in your computer and you have to be totally dependent upon the brokers promptness. No electronic logbook is made available to the retail consumer.
II)I had been to NSE’s website and tried to register myself for lodging a complaint but left the attempt due to cumbersome procedure. An email sent to their address bounced back .NSE is daily confirming the trades carried out on mobile as well as on email address but the info sent is totally useless. The info will be really useful iff all time stamped orders in the order logbook are sent to individuals. This would be useful for cross verification of orders given by brokers.
III) Tell me a single broker who has designed a scanner keeping in view retail traders needs.
IV) No differentiation is made by brokers for online traders and others and there is huge difference in service charges of brokers .And regulators like exchanges, sebi, state/central govts keep mum on these issues and keep on increasing taxes thro’ budgets. They are totally unaware that trader’s survival is dependent on keeping these Misc charges small. In a way they are killing retail trading.
V) Facilities provided by online brokers are for names sake. Eg charts provided by some brokers is for 3/5 days only and of one time frame only. Under such circumstances charges levied are not justifiable.
Other traders may have some issues which I request them to bring out here so that some day authorities may pay attention to these issues.
Regards
girish
