TOTP for Illiquid Stocks- Why

primitivetrader

Well-Known Member
#11
Another situation I'm in with a different broker. if you could suggest a way out:
Tried Axisdirect for sometime. However, their Ring application was misleading with its scanners and recommendations.
On a trade which gave a profit of 5% they took a brokerage of 2.5%, leaving nothing for me. On site they claim 0.5% brokerage.

The reason they're charging is I took the first year free DEMAT plan, paying only 499/- for ac opening. However, they now say its free only if I open an Axis bank ac, so probably they're trying to make up that loss. After I pointed out the 2.5% brokerage, they've deducted that amount from the amount they want me to pay for DEMAT.

Now should I continue to use their service, or complain to authority, or pay up and quit the broker?
pay up and close (this is imp to not have any hassle in the future) the account. don't trade with banking brokers irrespective of what they are offering.
 

TracerBullet

Well-Known Member
#12
Another situation I'm in with a different broker. if you could suggest a way out:
Tried Axisdirect for sometime. However, their Ring application was misleading with its scanners and recommendations.
On a trade which gave a profit of 5% they took a brokerage of 2.5%, leaving nothing for me. On site they claim 0.5% brokerage.

The reason they're charging is I took the first year free DEMAT plan, paying only 499/- for ac opening. However, they now say its free only if I open an Axis bank ac, so probably they're trying to make up that loss. After I pointed out the 2.5% brokerage, they've deducted that amount from the amount they want me to pay for DEMAT.

Now should I continue to use their service, or complain to authority, or pay up and quit the broker?
Why even bother with them. % based brokerage is not competitive anymore. Zerodha works great. If 0.03% is an issue for small capital, then use finvasia until scaled up. Z is stable from my own exp, finvasia i used to trade 3-4 years back and was good and i have been told that they are still stable.
 

lemondew

Well-Known Member
#13
This is why
https://www.livemint.com/news/india...ogin-credentials-know-why-11652751893974.html

Brokers are demanding TOTP for illiquid stocks and derivatives, saying its mandated by NSE.
Why? Since when did the authorities have so much concern for retail traders. They side with brokers on traders' grievances. They stopped the SL-M order. They banned retail traders from many instruments by reducing leverage.
This is just a ploy to not let traders on moving stocks.
 

Vmaster369

Well-Known Member
#14
https://www.livemint.com/news/india...ogin-credentials-know-why-11652751893974.html

so kamat says its good ? he is stupid so there is one idiot guys that shares his login and we rest 6 crores ppls trading have to suffer coz of him?
is there gurantty that that stupid person will not give otp over telegram . offcourse he will. I NEED A f **** opt out from SMS otp .



OTP i think its best way to slow down placing of order ;xD ... and its a B.S idea and its actually working for there favor ;xD
How about working on Brokers and make them not fail ..i still hear story of failing brokers why > how about nse work on that instead

Should we open casein consumer court against sebi and its Stupid BS ideas ? Increase margin. have otp sms each day ...whats next >
i see days is closer THE day sebi will tell u to buy shares themself coz fii wants to dump them .... Great that is future of INDIA

Bring back himalayan baba ruler of sebi atlest in his regim there was on stupid SMS LOGIN or gay TOTP
 
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newtrader101

Well-Known Member
#15
My broker who usually shows the actual average price of BN PE options yesterday lowered it including MIS options that had been squared off.(!). To show me in profit.
Does it mean they know market is going to fall.
 

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