Safety of margin money

sabharwal_RK

Well-Known Member
#1
With the no of discount brokers in the markets increasing, its an important question to ask.

Recently one broker went bust (Unicorn) and traders lost their margin money.

Is there any kind of safety net available to the traders/investors or its better to switch to a larger broker specially for delivery trades?
 
#2
With the no of discount brokers in the markets increasing, its an important question to ask.

Recently one broker went bust (Unicorn) and traders lost their margin money.

Is there any kind of safety net available to the traders/investors or its better to switch to a larger broker specially for delivery trades?
And what do you think it is safe with so called big brokers
Dont forget NSEL episode, if an action is there on all these so called big brokers (as mostly big brokers are involved there) they will go bankrupt before these so called discount brokers.
Moreover, if there is no regulation for the safety of investors/traders margin money with these discount brokers, then there wont be any safety, even with these so called big brokers.
 
#5
wisdom capital are just sub brokers of different brokerage houses. Previously they used to market aliceblue and now with finserve. wisdom are not main broker themselves.
 
#6
Thanks

But it doesnt matter, whether they are sub brokers or main brokers.
Only if they have a plan (their original plan and not tailor made one), that suits my need, I will go with them otherwise not.
 
#8
Good thread to understand regarding issues with discount broker.
Just curious to know what is issue with zerodha, SAS and other discount broker and how having own demat will safeguard you. I Always get contract notes timely for each and every trade so will that not be sufficient to trust?
And can you please through more light on 10 lakh insurance? Will this be applicable only if we trade through our demat?
 
#9
Hi Trader_ks, which discount broker's trading platform do you use. And while trading online do you have some backup plan for ur internet connection coz here in noida I have good speed and service but they are not reliable the service can be disrupted anytime without notice. It can cause a great loss. So what about backup plan for internet? I am about to start trading online and gathering some knowledge.

Thanx n regards,

tn
 
#10
Hi
There are many discount brokers like Zerodha, RKSV, TSO, Achiievers and you can open your account with any of them, all are good. I am using Zerodha platform, ZT.

Perhaps you are using BSNL internet connection. For backup have a data card (dongle) of any of the service provider like Reliance, Tata, MTS, Airtel etc etc.
 

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