Let me post for the bunch of queries together:
1. Withdrawals, no charges for withdrawing funds from the trading account and no limit on number of withdrawals.
To request for a payout, login to the backoffice and go to withdrawals, put the amount and save it. All processing is done around 7.30pm every evening. Any request placed after that is processed the next day. If your account is HDFC, it will hit your bank account the same night and if other banks, it should happen the next day by 1.30pm.
2. About contract notes, we had 2 days in the last 1 month where there were problems with our email server. We have fixed this issue immediately. Yes on the couple of such days, the contract notes might have come to you a little late.
Yesterday, was the third friday of the month. This is settlement day for all global indices f&o, settlement price is based on the special opening quotation on CME. Special opening quotation comes through only by 7pm and NSE sends us trade files late on such days. If we offer clients trading on global indices, this day the processing will happen late and hence contract note will be delivered late. Details of this can be found out on:
http://www.nseindia.com/products/content/gi/General_brochure.pdf
3. About ZT, guys though it might sound cliche.. what we are trying to do is pretty taxing at our costs. If a broker is asking for upfront commitment in terms of paying something before you trade, like the broker mentioned in the previous few posts, it is a different business..
We are working really hard, but that said there would be a couple of issues that is bound to happen however planned we are. There have been no issues as such. Software has been working smoothly and the only serious issue was that the equity payment gateway on ZT was not working. This is fixed and from monday, you can transfer funds instantly.
We had anticipated McxSX launch way back last December and hence were very keen to have all the exchanges up on our platform, It is not possible on NOW. If there are any small issues, send us an email to
[email protected], if contract note is late, if your passwords is locked, if you post issues like these on this forum, it can be pretty misleading.
Half the calls we receive during the day are people calling us up to ask for prices and they keep crowding our call n trade desk. These are not people who execute the trades, they just keep calling us for prices. We are a team of 60 people today and in a much better position to support than a year back. We will probably find a fix for this soon, but if you are one of those who keeps calling us for prices, our call n trade desk is for call n trade and customer support.
About the margin requirements please understand that nifty is up almost 15% from 5000 to 5700. So when nifty has gone up 15% the margin requirement also would have gone up 15%. ON ZT, the margin set is 40% of SPAN+ Exposure, The margin requirement can show more if there is a pending order in the system.
@vasudevan, if you are saying 14k is getting blocked in your account, I am quite surprised, because there is just 1 rule set for all our clients. But i'd call you personally and see why this is happening on monday.