Is there a thing like an "honest broker"?

[champaklal]

Have you found any?

 

[stock mkt rocks]

I am into broking (sub broking) for last 10 years. I have never short changed my customers.

But I read a joke a few years back that probably had the same theme as your thread . Here it is -

A day in winter was so cold that the stock broker was standing with hands in his own pocket.

 

[Smart_trade]

Have you found any?

Honest broker is as rare to find as it is to find a successful trader.

There are some honest brokers but most of the brokers are honest because of fear of NSE/SEBI inspection/ Audit which will immediately come if the customer makes a complaint. Otherwise all the brokers ( except a few ) have a gang of robbers called RMs who will trade on your behalf and finish your account if you give them a slightest chance. Most brokers earn their brokerage on trades fraudulently done by RMs.

I was the victim in case of 2 brokers and had to close these accounts with these brokers. Some national level brokers are masters in this game.

Smart_trade

 

[anuragmunjal]

the joke was initially on lawyers...someone saw a signboard outside an office stating 'honest lawyer'..... the question is how many honest people do u see (in any profession), who are in a position to use or abuse their position ??

 

[guruvenkatesh2007]

Honest broker is as rare to find as it is to find a successful trader.

There are some honest brokers but most of the brokers are honest because of fear of NSE/SEBI inspection/ Audit which will immediately come if the customer makes a complaint. Otherwise all the brokers ( except a few ) have a gang of robbers called RMs who will trade on your behalf and finish your account if you give them a slightest chance. Most brokers earn their brokerage on trades fraudulently done by RMs.

I was the victim in case of 2 brokers and had to close these accounts with these brokers. Some national level brokers are masters in this game.

Smart_trade

hi sir,

expect few means pls tell their names,,, you having which broker accounts..pls tell name or give clue . :clapping:

thanks

 

[praveen taneja]

Mera Bharta Mahaan Exept Few All are Beimaan Choice is your count me in Few or in BeImaan:thumb::thumb:

Instead of going for search for an Honest broker Go for Wrong practices done byBrokers without telling clients like selling clients posiotion without informing clients on weak days etc :thumb:Jai Ram Ji KI

 

[champaklal]

Smart trade,
Are broker afraid of SEBI/Stock Exchanges?!
I have read horror stories of easy fraud (including documentation and switching depository stocks to PMS) with the authorities not doing much ....

 

[Smart_trade]

Smart trade,
Are broker afraid of SEBI/Stock Exchanges?!
I have read horror stories of easy fraud (including documentation and switching depository stocks to PMS) with the authorities not doing much ....

Those are things of the past. These days SEBI/NSE are very strict about investor complaints. The moment complaint is received, the broker is asked to give explanation. If the complaint is serious, NSE/SEBI order immediate inspection of broker's books and they are taken to task....so cheating investors is no more easy for brokers. With so much transperency, and on line trades, margins, contracts etc....the investor is very safe unless he does something stupid like allowing broker's RM to trade on his account.

Smart_trade

 

[Kungfu]

No one in this world is honest 100%, except babies.

Broker is same, especially when they earn money by other's money. However, their dishonest is still good for almost traders to trade and earn money.

 

[Elliot Miller]

Yes,

Vault Options is the very best broker currently on the market, not only o they offer the free support for your trades and excellent customer service, but they have instant withdrawals which is one of not the main problem with other brokers, in Vault Options you get your money back within minutes.