Finvasia

@Finvasia A very basic query about demat...

When a client gives POA for his demat account, than does the broker's DP have to forward it to CDSL to finally get the "rights" to operate the account? Or is this something that a broker's own DP can do it internally?

Once a client gives POA, than who has authority to finally grant rights to DP? CDSL, internal DP, etc??

If the DP itself can grant the rights, than what if some unscrupulous brokers take the rights even without POA?
 

Finvasia

Well-Known Member
Hi Biker,
Please see point wise replies below:

@Finvasia A very basic query about demat...

When a client gives POA for his demat account, than does the broker's DP have to forward it to CDSL to finally get the "rights" to operate the account? Or is this something that a broker's own DP can do it internally?
Yes, after receiving POA form, Broker has to inform CDSL. Once it has been confirmed, new CML is issued by CDSL with POA as YES

Once a client gives POA, than who has authority to finally grant rights to DP? CDSL, internal DP, etc??
CDSL

If the DP itself can grant the rights, than what if some unscrupulous brokers take the rights even without POA?
DP shall only link POA after receiving original form. Further, even exchanges are informed once POA is activated. The internal and external Auditors have to keep a strong check for all compliances.

Thanks
 

josh1

Well-Known Member
Is Scalpert as fast as NEST or NOW? In my experience NOW is the fastest. Any user having experience with their Scalpert or NEST?
 

Infooo

Active Member
Is Scalpert as fast as NEST or NOW? In my experience NOW is the fastest. Any user having experience with their Scalpert or NEST?
Scalpert is the worst app you would ever find for trading.. it's highly unreliable, damn slow , keep on hanging.. you name a problem you would find it in scalpert.. no wonder most of my friends who use to hv Finvasia as their broker and depends on scalpert for frequent trades have shifted their volume to others.
 
Bro, all 3 can be used for different reasons. NEST is desktop only. Regarding NOW, it has web. mobile and desktop where as SCALPERT is web and mb only. What do you plan to trade ?
Is Scalpert as fast as NEST or NOW? In my experience NOW is the fastest. Any user having experience with their Scalpert or NEST?