Finvasia

brokenbull

Well-Known Member
Dear TJ Members,

Based on the SEBI circular, following changes shall be implemented effective from tomorrow 1st September 2020

Closure of CCA account for margins:
Based on the new system, brokers shall return all the shares available in their CCA account to client’s Demat account. For additional limits against collateral, new pledge system shall be used. So, no need to transfer shares to Broker CCA account. We shall return back all the shares in CCA account today. In case you have utilized margin, we shall ask you to fund the account today online.
Alternatively, tomorrow you need to deposit and share copy of margin short amount as cheque with today’s date (31 Aug 2020) before 1 PM else the position shall be squared off before market close tomorrow. The deposit receipt must be sent to [email protected]

Pledge of Shares
In case client wants to get limits against collateral, they need to pledge the shares in favour of TM/Clearing Member. It can be done using CDSL Easiest. Here is the link to know the process

“How to Pledge Shares via Easiest | Finvasia”

Please NOTE
  • Shares pledged before 4 PM shall be available for limits on the next working day.
  • Make sure you select Exchange as “NSE” and Segment as “All Segments” during pledge.
  • If you have pledged the shares, you need to un-pledge the shares before selling.
  • Client should have POA active to get limits on the pledged shares.
  • Client can use DIS and/or give POA to sell the shares. In case the POA is active, client will be able to see and sell the shares from the trading application.
  • Pledge shares will not be visible in trading application. You can check in our Back office or Easiest.
Why POA:
In case, you sell the shares, we need POA to transfer shares from your Demat account to Exchange Pool account directly for trade settlement. Also, in case the account gets debit due to any MTM loss, we need to sell the shares on T+5. So, POA is must to avail pledge services.

Un-pledge
You can request to unpledge the shares in Easiest as well.
Shares un-pledged before 1 PM shall be available on next working day for selling or transfer.

Revised charges
Pledge: Rs 20 Plus GST per transaction
Un-pledge: Rs 20 Plus GST per transaction

Margin for BUY & SELL inCash segment
To buy shares in MIS, exchange VAR margin shall be applicable on upfront basis. To know the margin, visit Margin Calculator https://www.finvasia.com/calculators

To buy in CNC, full margin is required for delivery.
To sell from your Demat account, there will be no need to have additional upfront 20% cash margin.
If client sells on T day, there will be no margin to purchase from the sold shares value on T day and T+1 Day both. Clients can only use funds on T+2 day.
Also, no fresh buying on the realised profit on T Day

Margin for BUY & SELL inDerivative segment
There shall be no change in margins to buy and/or sell in derivative trading such as FO, CDS, MCX and NCDEX.

REMEMBER
If you sell Shares, you cannot buy anything on T Day
If you sell Futures, you can buy back Futures and Options buy & Sell on T day
If you sell Options, you can only buy options on T day

Regards
Dear Finvasia
1) I dont have POA on record(opened a/c 4 months ago)
2) Iam unable to figure out Easiest for Finvasia ( Ido have eDis pin for zerodha)
3) Though there is no problem in futures (currency& commodity) , for cash stock unable to buy in CNC as dont know how to sell the purchased stock next day (T1) or day after (T2)
4) I dont care about margin/pledging etc (as I have ample funding )
5) Tell me how to sell cash equity bought under CNC (since I can buy small lots unlike futures) next day or later? (because of this issue I am unable to trade cash stocks properly.
 

brokenbull

Well-Known Member
Dear Finvasia, for clients who have Easiest, how cab they sell shares from today onwards without PoA? There must be many clients whose PoA is stuck in transit or are unable to move outside those who opened account during the lockdown period. Have you considered any solutions for them because eDIS is for sure a Niti Ayog kinda 5 year planning just like ScalpreT update. Please suggest the way out Thanks
Iam in the same boat !I have no POA (new a/c opened 4 months ago) , I am unable to figure out Easy in CDSL for Finvasia ( In Zerodha no problem as I received eDis pin ) . I dont face any problem in trading curency futures / commodity futures (trade only Silver micro& Nat gas), Problem is trading cash stocks. Sometimes I buy my favourite stocks in finvasia & if get stuck (stock down ) &I want to long the stock , I take loss in Fivasia & buy in zerodha in CNC at 3.15pm . Hope Finvasia gets Dis pin facility soon. Then I can shift more funds to finvasia
 

brokenbull

Well-Known Member
This is scalpert for you today at 915 to 920.. no trading allowed.. even previous positions not allowed to cover
I trade via Finvasia Android APP mostly as in the laptop running tradingview charts + Zerodha kite chart+ zerodha order page
sometimes when Finvasia app fails (wont show pending or excuted orders) , that time in panic I will open Nest which of course is quite stable & excute buy or sell of the opened position .
Iam in no mood to complain about finavasia as they are offering free intraday brokerage & auto MIS order close out at3.20pm with out any charge (unlike zerodha)
 

Finvasia

Well-Known Member
Dear Finvasia
1) I dont have POA on record(opened a/c 4 months ago)
2) Iam unable to figure out Easiest for Finvasia ( Ido have eDis pin for zerodha)
3) Though there is no problem in futures (currency& commodity) , for cash stock unable to buy in CNC as dont know how to sell the purchased stock next day (T1) or day after (T2)
4) I dont care about margin/pledging etc (as I have ample funding )
5) Tell me how to sell cash equity bought under CNC (since I can buy small lots unlike futures) next day or later? (because of this issue I am unable to trade cash stocks properly.
Hi @brokenbull! You need POA to sell shares from your demat account with us. We are working on eDIS facility and we'll keep you updated. Regards
 
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this is for me. have been waited for 30 min to get assigned. no one cares to reply, they just transfers from one person to another person, doing it intentionally so ill cut the chat. still waiting for the reply lets see..