How honest is your broker?

newtrader101

Well-Known Member
#1
You may have tried various brokers. Some problems will always be there, but is there a broker who doesn't compromise on integrity and honesty?
If you have been with a broker for a few years and you like them for their honesty, please share here.
Thankyou for helping.
 

CougarTrader

Well-Known Member
#3
I have tried total 6 brokers from mid 2013 till end of 2018, out of them, to my need @Finvasia has worked just fine since 14-Jan-19... no complaints!

One might sight limitations like:

1) Under-developed mobile/web app - I use NEST Desktop Terminal 99% of the time, that seldom remaining 1% is ok for me to use Scalpert Mobile App when not in-front of PC. So, I see no need to use any sophisticated showy app. NEST is stable and still the best;

2) Poor customer service - On contrary, very honestly have not faced any such issue yet. Instead of calling them or waiting in web-chat queue, I raise e-ticket in their Prism or shoot an email to their customer service and they have either solved it right way or has always called me back within 24 hours for clarification;

3) No Datafeed/Order API - To that I must say, subscribe to a decent data vendor and learn programming to automate trades using NEST - never rely on broker to facilitate these things - they never work or are faulty in the long run - always "Do It Yourself";

4) No e-DIS - Either give POA and stop whining; or just use Easiest to x-fer to their CCA BENI and sell. With Easiest there's no need for e-DIS;

5) Less Intraday Margin - That is indeed a very good thing and not a limitation! Never liked over-leveraged positions - makes it too risky to handle;

6) Pledge Mutual Funds for margin - They allow pledging of stocks/ETFs. However, this feature is yet to be introduced by them, hence, waiting!

In my experience so far so good with Finvasia, to which I've no control over circumstances that may mould in future. Whether they excel or slide down - I don't know!

P.S. Above are my generic opinion only which might not match with yours. I am not a day-trader, and, execute about 10-20 trades every month; All my positions are held overnight.
 

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