Check if your stock broker is in a mess !

lemondew

Well-Known Member
#1
The question that comes to every ones mind is what if my broker goes bust. What will happen to my money. NSE gives 15 lacs back. How long will it take I dont know and one can never be sure. Once one is thinking of putting in some real money a trader is always bothered especially with so many brokers around. Are their risk management systems proper and is it really safe.

I did some searching am putting together a system which can be run periodically. All comments welcome.
 

lemondew

Well-Known Member
#2
Heres the system

1. Check the complaints against a broker https://www.nseindia.com/invest/content/arbitration_status.htm

2. Download Report1A

3. Sort all complaints by name of Trading memeber (TM).

4. Filter out complaints of type 1 and 2. ( Related to delay in payment)

5. Count the number of complaints against each TM ( type 1 and 2).

5. Sort the list with highest number of complaints against each TM.
 

lemondew

Well-Known Member
#5
I am going to be tracking type 1 and type 2 complaints against brokers and posting it here. You guys can do the same. We need to be just alert if the number is going high. I have used a simple formula and done some manual thing to get the result sheet. May be someone can write a script which will read the excel sheet and give the results.
 

lemondew

Well-Known Member
#6
Attached the excel sheet for 2013-14. In the first sheet I placed TMs sorted by name . Count filter=1 shows the number of type1 and type2 complaints against each TM. Second sheets sorts them in descending order.
 

Attachments

TraderRavi

MM is the holy grail
#7
Heres the system

1. Check the complaints against a broker https://www.nseindia.com/invest/content/arbitration_status.htm

2. Download Report1A

3. Sort all complaints by name of Trading memeber (TM).

4. Filter out complaints of type 1 and 2. ( Related to delay in payment)

5. Count the number of complaints against each TM ( type 1 and 2).

5. Sort the list with highest number of complaints against each TM.
most of the complaints are against zerodha.
 

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