Day Trading Stocks & Futures

[soft_trader]

Who is that broker?

Religare I think. CDSL also has similar facility, CDSL easiest, but brokers usually do not allow this facility to its clients. With a local broker it depends upon your relation with him, if he trusts you then he will provide this facility.

 

[Smart_trade]

Who is that broker?

This is a local NSE /BSE broker based in my city....not a national level discount broker...here only problem is if an investor fergets to transfer the shares in time, they will be auctioned...but all serious investors transfer well in time...

Smart_trade

 

[Happy_Singh]

It is Karvy who is at fault. They have fraudulently transfered clients' shares to its own account and pledged these shares to get loan from Bajaj Finance and few banks.

It is high time that SEBI comes down on stock brokers and stop the practice of giving a POA to the brokers....NSDL as well as CDSL has facility of transferring shares on internet and clients can transfer the shares against the settlement obligations on internet...SEBI will take some such decision soon.

This POA issue bothers all investors but brokers insist on POA.....In one of the brokers I deal with , I can transfer the shares sold using speed e of NSDL on internet from outside the broking house DP ,so they cannot transfer my shares on their own.......

Smart_trade

Someone was telling me that there is some sort of Block or Hold facility with the Demat accounts
where we can lock the shares in out Demat account, and the broker can transfer only
when the specific shares are unlocked. But not finding any documentation or reference to this

Is anyone aware of anything like this?

The safety of our shares in demat is a big concern now.

What would be the safest way to manage this?

How would having a stand alone Demat account without any POA or linked to any broker work?

Thanks

.

 

[vikas2131]

Projects okayed by Devendra Fadnavis over the past six months under the scanner

CM Uddhav Thackeray orders stop payment for all ongoing works

This will bring the state to a halt !

https://mumbaimirror.indiatimes.com...or-all-ongoing-works/articleshow/72340387.cms

 

[Smart_trade]

Investors also need to be more careful. Whenever shares are transferred from my demat account to any other account , even brokers settlement account, we get a sms and if we have not sold the shares, we should bring it to the notice of the DP and broker immediately....

Many strange things happen with brokers...I had one online trading account with a national level broker and that account I closed ( meaning gave them closure form signed and I have the acknoledgement for the same ) it some 10 years ago...and I got a mail on Saturday that as per my request the online log in and transaction password has been reset and new passwords are as under : I never asked to changed the password and I was thinking that the account is closed...so I had to send them 2 mails one on Saturday and one on Sunday saying that this is a fraudulent attempt and I will not be responsible for any trade done on this account as I had asked the company to close the account.....their customer care numbers on Monday before the market opened were not picked up and they kept it on a music for a long time...but what was happening was no music to me....

After 1 day I got a mail from the broker to ignore the password reset mail as there was an error at their end software...but no mention of closing the account yet....

Smart_trade

 

[Option Seller]

Projects okayed by Devendra Fadnavis over the past six months under the scanner

CM Uddhav Thackeray orders stop payment for all ongoing works

This will bring the state to a halt !

https://mumbaimirror.indiatimes.com...or-all-ongoing-works/articleshow/72340387.cms

tom and jerry poltics.

 

[TraderRavi]

Someone was telling me that there is some sort of Block or Hold facility with the Demat accounts
where we can lock the shares in out Demat account, and the broker can transfer only
when the specific shares are unlocked. But not finding any documentation or reference to this

Is anyone aware of anything like this?

The safety of our shares in demat is a big concern now.

What would be the safest way to manage this?

How would having a stand alone Demat account without any POA or linked to any broker work?

Thanks

.

Yes there is lock/unlock facility in CDSL. Some broker like finvasia dont insist on POA. So shares are safe in demat. You can sell by transfering from CDSL to broker account by cdsl easiest. Only problem is it takes 24 hours , so you may miss opportunity on a good day , like some day your shares jump 10% and you want to sell.
But most of the brokers including zerodha insist on POA.

 

[Smart_trade]

Yes there is a facility of locking/blocking the transfer of shares and unblocking it with all DPs...investors at small charge can take the advantage particularly when one is going out of town or going abroad for a long duration...

In Speed e there is a facility of transferring shares to a predefined broker under a particular settlement.....but big brokers dont encourage speed e for 1) Auctions increase due to clients fergetting to transfer the shares 2) Brokers transfer shares on same day on which they are sold with POA with them making it early payment and they get their margins blocked released.....this is a big advantage to brokers...

Smart_trade

 

[vikas2131]

 

[Smart_trade]

In case of Interactive Brokers when I closed my trading and Demat account with them ,I got a confirmation from them in writing that trading and Demat both accounts are closed....other brokers dont close the accounts even on our specific closure requests.

ST