Trading for Living -- Successfully Completed one year as Full Time Trader
- Thread starter amrutham
- Start date
Have done a little bit of trading with FINVASIA with small capital.
The experience was really bad and equally SCARY.
Below are the issues till now.
1) If you sell an option, the premium amount is not credited into your account next day. But when you close your option, amount is debited.
For example, If a have one lakh balance and sell one lot of BN contract at 100, ideally my balance should be 104000 next day. But here its one lakh only.
On Day2, let us say, next the option goes against you and the option value increases to 200, then MTM is deducted from your margin and new balnace is 96000.
On Day3, option value goes back to 50, and you square it off. A further 2000 is deducted and the new balance is 94000.
You wait for one more day, the new balance is still 94000, where as it should be 102000.
You call their help desk, and the accounts department says that your actual balance is 94K only. No explanation.
To get further details, you have to wait for your RM. But they are not available during trading hours.
Really very bad experience and will close the account once the issue is resolved.
The experience was really bad and equally SCARY.
Below are the issues till now.
1) If you sell an option, the premium amount is not credited into your account next day. But when you close your option, amount is debited.
For example, If a have one lakh balance and sell one lot of BN contract at 100, ideally my balance should be 104000 next day. But here its one lakh only.
On Day2, let us say, next the option goes against you and the option value increases to 200, then MTM is deducted from your margin and new balnace is 96000.
On Day3, option value goes back to 50, and you square it off. A further 2000 is deducted and the new balance is 94000.
You wait for one more day, the new balance is still 94000, where as it should be 102000.
You call their help desk, and the accounts department says that your actual balance is 94K only. No explanation.
To get further details, you have to wait for your RM. But they are not available during trading hours.
Really very bad experience and will close the account once the issue is resolved.
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