Author: comparebro

Comparebrokerages interaction with Interactive Brokers

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About Interactive Brokers.

Interactive Brokers conducts its broker/dealer and proprietary trading businesses on over 100 market destinations worldwide. In its broker dealer agency business, IB provides online trade execution and clearing services to institutional and professional traders for a wide variety of electronically traded products including stocks, options, futures, forex, bonds, CFDs and funds worldwide

IB recently slashed the brokerage charges in India and the new pricing is in line with other leading discount brokers of the country.

Compare Brokerages had an interaction with IB and were able to ask pertinent questions on behalf of the Indian Investor. Hope you find the Q&A helpful in choosing your next broker.

1. How does an Indian citizen open an account with you?

An Indian citizen can open an account with Interactive Brokers for trading on
Indian and overseas markets (120 markets across 24 countries). One account is
opened with Interactive Brokers LLC that provides them access to a cash account
and allows them to purchase equities and Exchange Traded Funds around the
world. The other account is opened with Interactive Brokers (India) Pvt Ltd and
allows them to have access to the National Stock Exchange of India (NSE) to trade
stocks, options, futures and currency futures. The process to open the global
markets account is 100% online. You need to complete an online application and

submit scans of your pan card and address proof. The local markets application is
also filled out online. In addition, clients sign some physical documents.

2. What are all the exchanges/ segments one can trade on your platform?
Global – 120 markets across 24 countries for stocks and ETFs.
See the exchange list here.
India – NSE for trading on stocks, futures, options, currency futures.
See the product list here.

3. Is there any charge to open an account with Interactive Brokers?
No

4. What is usually the time taken to open an account?
For global markets anywhere between 1-3 business days. For local Indian
markets, anywhere between 5-8 days.

5. Is there any Annual Maintenance Charge?
Monthly minimum activity fee of US$ 10 for global markets, waived for those
whose account sizes are more than US$ 100K and waived for all clients for the
first three months.

Monthly minimum activity fee of INR 200 for Indian markets, waived for those
whose account sizes are more than INR 10 lakhs and waived for all clients for the
first three months.
6. Do you provide margin funding? Can one pledge shares for margin?
Yes, on NSE we do provide margin funding for stocks as per SEBI regulations.

7. How does Fund transfer/ Withdrawal work? What is the time taken for the
same?
Global – International Wire Transfer under the Reserve Bank of India’s liberalised
remittance scheme, which allows every Indian resident to wire up to US$ 250,000
per financial year (This is subject to change by the RBI).
India – Cheque / NEFT / RTGS – Time to arrive is from 1 – 4 business days.

8. How big is your team in India? 
Interactive Brokers has more than 65 employees based in India. Interactive
Brokers Group employs more than 1,000 people globally.

9. What channels of are available?
Our customer support number and details of support services are available here.

Interactive Brokers offers 24-hour weekday customer service via regional Client
Services located around the world. In addition to a wide range of answers
available online, we offer client services via phone, chat, email, fax, mail.

10. What platform and tools will be available for our Indian users? Is there a demo

available?
Our platform and tools are available here.
Interactive Brokers offers the web trader, mobile trader and Trader Workstation
(TWS), a global trading system which let you use a suite of online trading tools.
A free trial is available here.
There is no commitment and you can use the free trial for as long as you want.

11. Is there any charge for data on your platform or any charge associated with
technology/tools.

One of the things that sets Interactive Brokers apart is the broad range of
technology and tools the company provides for free. IB also offers information
from numerous research and news services at no cost.
A list of free research and news services can be viewed here
IB also provides other information sources via subscriptions.
Those can be viewed here.

For those that trade the NSE, there is currently no charge for NSE data.

 
12. Since your primary market has been institutional sales, how does IB plan to
pivot towards attracting retail participants?
We have been building online trading technology for more than 40 years and
provide competitive pricing, a broad global product line, and advanced trading
tools for our clients. Our new, lost cost pricing for the Indian markets world class
technology and breadth of products, is attractive to retail participants. As we do
globally, we believe that our customers will bring in more customers in India as
well.

13. At comparebrokerages we publish the financials of brokers so that our
customers are aware of the financial health of a broker –  IB financials show that
they have a very active prop trading, with over 100 crores in profits. Curious to know who is trading, are these through traders in India or abroad? and finally,
does this put risk to retail clients?

Interactive Brokers June 2016 metrics and other financial information can be
viewed here

We do not comment specifically on our proprietary trading business.
As you are aware, most brokers in India have their proprietary trading along with
client trading. SEBI has already set regulations protecting the clients’ interest and
we respectfully comply with them. We can say that is there is a clear segregation
of proprietary and client trading activities.

Top brokers in India as of May 2017

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Fellow traders and investors,

Find the latest list of active users as per National stock exchange data.  Active client is considered as someone who  has traded atleast once a year. Total active clients as per is 59,51,301, that is how many people have traded atleast once a year on NSE. I am guessing the unique number of people will be much lesser than that (if I have traded with 2 brokers, it will show me as active with both brokers).

Make sure to check out the financial health of broking firm you are trading with on our website.

Top 20 brokers in India
ICICI SECURITIES LIMITED 631388 Top 3 full service brokers
HDFC SECURITIES LTD. 487418
SHAREKHAN LTD. 375394 ICICI SECURITIES LIMITED 631388
KOTAK SECURITIES LTD. 279305 HDFC SECURITIES LTD. 487418
AXIS SECURITIES LIMITED 269133 SHAREKHAN LTD. 375394
ANGEL BROKING PRIVATE LIMITED 238998
MOTILAL OSWAL SECURITIES LTD. 212617
INDIA INFOLINE LTD. 196904
KARVY STOCK BROKING LTD. 184349 Top 3 discount brokers
ZERODHA 182379
SBICAP SECURITIES LIMITED 172763 Zerodha 182379
GEOJIT BNP PARIBAS FINANCIAL SERVICES LIMITED 160732 SAMCO SECURITIES LIMITED 18986
RELIGARE SECURITIES LTD. 122568 RKSV SECURITIES INDIA PRIVATE LIMITED 18577
RELIANCE SECURITIES LIMITED 81505
EDELWEISS BROKING LIMITED 76387
SMC GLOBAL SECURITIES LTD. 75787
NIRMAL BANG SECURITIES PVT. LTD. 74004
VENTURA SECURITIES LTD. 69587
A detailed review of 5 paisa

5 paisa Review

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5 Paisa

5 Paisa, part of the IIFL group is an online financial services provider. It offers broking services, mutual funds, and insurance on its platform. It offers trading in equities and derivatives, it doesn’t offer commodities.

The main selling point of 5 Paisa is that they offer all financial products on their platform.

Margins

Check out the detailed margins here. Almost all the established discount brokers provide margin and brokerage calculator tools but 5 paisa does not. This is negative a because the problem of transparency that plagues traditional brokers remains.

  1.  Up to 15 Times margin for Intraday & 5 Times for Delivery(Interest charged)
  2.  Up to 2 Times for Intraday in Futures
  3.  Up to 2 Times for Intraday in option (Only on selling side)

Platforms

5 Paisa provides a platform named Trade Station for the Web and desktop. It provides a mobile application for Android.

Web Platform.

5 Paisa Trade Station is the flagship platform that it offers. To sum it up this is an extremely disappointing platform considering the fact that 5 Paisa is part of the IIFL group which has been the broking business for decades.

Describing this platform as rudimentary at best would be an overstatement. All it does is offer a set of basic functionalities with nothing in particular worth highlighting.

Charting

Charting is pretty much a non-existent feature in 5 Paisa except for a basic line chart. There are not candle charts or indicators. So if you are a trader who got interested because of 5 Paisa’s brokerage, that is the only highlight of it.

Desktop

The desktop offering of 5 paisa is similar to NEST and offers the basic functionalities. There are no particular highlights as such.  The tools seem sluggish and takes a good bit of time to startup. Discovering the functionalities can be irritating. The user experience is terribly unintuitive. If you are a regular trader and depend on using candle charts this is the only platform which offers it along with the mobile app. The charting experience in the desktop tools leaves a lot to be desired.

Mobile App

The mobile application looks decent and provides one-stop access to trading, mutual funds and insurance.

You can create 3 watch lists with 50 stocks each.  The application offers basic charting functionality with 4 indicators. The only advantage we could see is that you can access MF’s, insurance and stocks from one place. Although they say that there are no charges for their MF platform, we haven’t explored the hidden side and same goes for insurance.

Where 5 Paisa falls short

5 Paisa tries to offer a whole lot on its platforms with nothing, in particular, being a highlight. The trading platform does not offer any of the things that a regular trader would need.

Bottomline

5 Paisa is suited to the investing and saving crowd who wish to manage all their investments and personal finance obligations from a single login. We wouldn’t recommend 5 Paisa to traders or even investors for that matter because it really doesn’t offer even the basic tools that traders and investors have come to rely on.

Pros

  • A single dashboard to manage investments and insurance.
  • Low brokerage.

Cons

  • Poor trading platforms
  • Charting is extremely poor
  • The mobile app has a lot of redirect links, that end up ruining the experience.

Here is how 5 paisa stacks up against Zerodha and Upstox.

Review Of Upstox

Upstox Review

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Profile

Upstox formerly RKSV Securities is India’s second largest discount broker with over 13,000 active clients.  Started in 2012 this discount broker is funded by marquee names such as Ratan Tata, Kalaari Capital, and others. It currently contributes to over Rs. 7,000 crores in daily turnover on NSE.

This is an in-depth review of Upstox and its trading platforms. Click Here for the Upstox profile.

Pricing

Upstox follows has a simple pricing structure. It offers free equity delivery trades and charges a maximum for Rs.20 for equity intraday, F&O, and commodities. Upstox offers a brokerage calculator which makes it easier to calculate the charges.

Pricing Verdict: Upstox much like its bigger peers offers a good deal. Free equity trading will be a good draw for beginners.

Upstox is best suited for:

  • Beginners
  • Frequent traders
  • Mobile users

Margins

For equity intraday, Upstox provides margins up to 20x on F&O stocks and up to 2x on other stocks.

It provides margins up to 6X for Intraday futures. It provides up to 4x for selling options and 1X for buying using MIS, bracket and cover orders in intraday.

It provides margins of up to 3X for all commodities.

Upstox provides margins across segments only for intraday and does not provide leverage for equity delivery and overnight positions similar to other discount brokers. There is no indication yet if Upstox will come out with margin funding, but this is the margin policy at present.

Upstox provides a margin calculator to make it easy for traders to calculate their margin requirements.

Trading platforms

Upstox provides trading platforms for desktop, web, and mobile.

Upstox Pro Web

Upstox Pro is a web trading platform which was custom developed in-house. It is a lightweight platform with unique widgetized workspaces and advanced charting.

With their latest update, Upstox has introduced workspaces which can customize to users linking with widgets. Sections such a watchlist, charts, books have been made into widgets, which can be placed anywhere in the workspace.

The charting is a breeze in Upstox Pro. There are over 100+ technical indicators and 10 drawing tools. One good feature if you are a regular trader is that you can watch multiple charts side by side.

 Since watching charts in a different workspace and switching to another workspace to place an order is not optimal they will soon be launching a feature to place orders from charts.

Our verdict

Upstox Pro is a beautifully designed web platform; largely unimposing for beginners and resourceful for regular traders. It might take a bit of getting used to for beginners, it is not as easy as Zerodha Kite, the most significant competition for Upstox. One potential downside to this widgetized workspace style is that the experience on small screens won’t be the best.

Mobile

The mobile application follows a similar design scheme as the web version.

But there were some quirky things we noticed in the mobile app. Historical charts are available only in the landscape mode and not In the portrait mode. Constantly switching between two views can ruin the user experience here. Charting is easy and fast on the app and its easy see the amount of work put in by the developers.

Bracket order or OCO (One Cancel The Other) is not available. This can be a deal breaker for people who trade on the go.  If you are a mobile user then you will love the app minus the quirks. It also has a tab which shows corporate actions related to the stock and a fundamental tab data with some basic parameters. Apart from these kinks, the mobile app is a decent platform from Upstox compared to clunky, cluttered and outdated apps of other brokers.

 

Desktop

Upstox offers NEST desktop tool. NEST can best be described as a reliable workhorse which gets the job done. NEST just provides basic charting, you get 22 days of intraday charts and 1 year of historic charts. On this count, it is a disappointment.

Platforms verdict: While the web and mobile platforms are beautifully designed the desktop tool is a bit of a letdown for hardcore traders.

Mutual Funds

Upstox recently launched its own MF platform, but disappointingly it is a regular Mutual Funds platform. In the long-run direct mutual funds always give higher returns because of the absence of any intermediaries and the ensuing savings because of that.

Where Upstox falls short

A underwhelming desktop offering is a negative for a brokerage that has built such amazing web platforms.

Upstox still offers regular mutual funds and not direct mutual funds. By investing in regular mutual funds investors pay up to 1.5% upfront and 1% every year for as long as they remain invested which in the long run makes a huge difference.

Bottomline

Upstox is a solid choice with its great suite of platforms and tools. If you are a first-time trader you will most likely be drawn to the beautiful platforms at zero brokerage. Although the web platform is well crafted it takes a bit of getting used to and does not look the best on smaller screens. Overall it doesn’t matter if you are a beginner or an experienced trader if you are looking for a broker Upstox should be in your shortlist.

Pros

  • Great pricing
  • Well crafted platforms
  • Tools such a margin and brokerage calculator
  • Responsive support and learning resources
  • Easy to get started with Aadhar based signup.

Cons

  • No mutual fund platform yet
  • Turnover charges on futures and options is higher than competitors
  • The online trading platform doesn’t suit small screens.

Here is a comparison of India’s 3 biggest discount brokers. Compare pricing, active clients, financials and more.

Upstox Vs SAMCO Vs Zerodha

 

Review of Zerodha

Zerodha Review

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Zerodha is the pioneer of the discount broking concept in India and is the largest discount broker in terms of active clients. It is well known for creative advanced and intuitive platforms and it’s transparency.

Pricing

Zerodha has very a simple pricing structure. They offer free equity delivery trades and charge a maximum for Rs.20 for intraday equity, F&O, and commodity trades. Their brokerage calculator makes it quite easy to calculate charges; again a concept introduced in the country by Zerodha.

Pricing Verdict: The Zerodha pricing suits everyone; be it a beginner, or a hardcore trader. Free equity trading will be a good draw for beginners.

Zerodha is best suited for:

  • Beginners
  • Frequent traders
  • Mobile users

Margins

For equity intraday, Zerodha provides margins up to 20X on F&O stocks and up to 2X on other stocks.

They provide margins up to 2X for intraday futures and shorting options and 1X for buying using MIS, bracket and cover orders in intraday. They provide margins of up to 2X for all commodities.

Zerodha provides margins only for intraday across all segments; none for equity delivery and overnight positions similar to other discount brokers. They’re expected to come out with margin funding soon.

Zerodha also provides a margin calculator to make it easy for traders to calculate their margin requirements. You can use this tool to calculate your comprehensive margin requirements for intraday and delivery/overnight positions.

Platforms

Zerodha is best known for its intuitive platforms. They offer Kite and online trading platforms, Kite Mobile for Android, Kite Lite for IOS and Pi for the desktop.

Kite

Kite is a minimal online trading platform which is easy to use and easy on the eye.

Kite dashboard

Kite charting

The charting experince in Kite.

Whether you’re a beginner or a seasoned trader, Kite is the platform for you. It is a pleasure to use it since it is polished and has no clutter whatsoever. You can create multiple watchlists, analyze and compare charts, share them and more. Kite allows you to create 5 market watches and has over 100+ technical indicators. It offers bracket and cover orders which have become common these days but the limit cover order which is available on Pi, the desktop tool, is not available on Kite and the Kite mobile app yet.

Mobile App

Zerodha offers Kite on mobile and it pretty much resembles the web version. Although the app looks beautiful, you get a feeling that it’s still a work in progress. The user experience is a pleasure, no complaints on that front.

Charting is as good as it can be on a mobile device but one feature that regular traders would immediately notice is the absence of charting tools on the app. Lack of push notifications is also a downside because some people tend to get confused with the order status. The app doesn’t allow you to withdraw funds which is a disappointment.

Desktop

Zerodha offers a desktop tool called Zerodha Pi. Essentially built on top of tried and tested Nest. Pi has an impressive array of features. It offers advanced charting with over 80+ indicators.

Pi marketwatch

Pi charting

Pi Highlights

Expert advisors: You can code your own strategies in Tradescript and save them in the platform to generate buy and sell signals.

Backtesting: Pi also has a backtesting module to test your strategies.

Pi Bride: You can connect platforms such as Ami Broker, Ninja Trader, Meta Trader etc.

Scanner: Pi also has this handy feature that allows you scan for trading opportunities.

With such unique feature Pi is definitely one of the best desktop platforms in India.

Cons: The biggest drawback we see in Pi is the lack of stability. Users seem to experience niggling issues with the application. This aside Pi is one of the best platforms if you are a hardcore technical trader.

Zerodha Quant

As the saying goes “Know yourself to improve yourself”.

Quant is one of the best platform Zerodha has ever created. It is your personal trading analytics tool which essentially plots all your trades and so that you can learn by analyzing your good and bad trades.

Mutual Funds

Zerodha recently launched their direct mutual fund’s platforms called Coin. You can now invest in the mutual funds without paying any commissions. The expense ratio is a percentage of the total assets used for managing a fund’s expenses, such as advertising, operational expenses etc. The expense ratios in regular funds will be higher because of the commissions paid t0 the distributors by the AMCs. In the case of a direct fund, you will be dealing directly with the AMC and there won’t be any intermediary involved, so the expense ratios will be lower. In the long run, this translates to higher returns with direct funds.

With Zerodha Coin you can customize your SIP’s, compare funds, do historical analysis etc. You can also have a flexible SIPs wherein you can play pause your periodic investments whenever you want without any hassle.

Zerodha Coin direct mutual funds

Where Zerodha falls short

Overall Zerodha is undoubtedly one of the best brokers in India. They seem to have hit a sweet spot in terms the cost and the benefits they offer. Having said there are a few thing missing.

  • It is not possible to apply for an IPO directly. Clients have to visit a bank or apply via Applications Supported By Blocked Amount (ASBA).
  • Zerodha Q their current back office is a pain to use, it keeps crashing constantly. The good thing is that their CEO has committed to replacing the old system in a couple of months.
  • Margin funding is a sorely missed product at present.

The final word

Zerodha being the original pioneer of the discount broking model in India is definitely the real deal. They have hit a sweet spot in terms the cost and the benefits they offer. No other broker is even comparably close when it comes to innovating. It doesn’t matter if you are a beginner or an experienced trader, Zerodha should be at the very top of your shortlist. Their learning initiatives such as Varsity, TradingQnA, and Educate are the only comprehensive initiatives towards investor education in India.

Pros

  • Great pricing
  • Well crafted platforms
  • Tools such a margin and brokerage calculator
  • Unparalleled learning resources

Cons

  • No margin funding
  • Not possible to apply for an IPO directly

Zerodha vs Samco and Upstox

 

SEBI against Indian Trading league (SAMCO)

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Fellow traders and investors,

Check the recent advise from SEBI to the exchanges, circular from BSE:

As per the communication received from SEBI, regarding leagues/schemes/competitions etc offered by third party or Group Company/associate of stock broker, which may involve distribution of prize monies and advertisements issued in this regard by Stock Brokers, Trading Members are hereby advised to ensure that they shall not carry out advertisements in which celebrities form part of the advertisement.

SEBI has now also put a caution note to all investors, check this release

A. LEAGUES / SCHEMES / COMPETITIONS WHICH MAY INVOLVE DISTRIBUTION OF PRIZE MONIES

It has come to the notice of SEBI that various entities are soliciting investors by offering leagues/schemes/competitions etc. related to securities markets. Some of the schemes may involve distribution of prize monies. Participation in such schemes including sharing of confidential and personal trading data is at investors’ own risk, cost and consequences as such schemes are neither approved nor endorsed by SEBI / SEBI recognized Exchange(s).

SEBI is issuing this caution to investors to warn about such schemes offered by third party or group company/associate of stock broker(s) etc. The investors may note that for any kind of disputes relating to such schemes or enforcement of any agreement / MoU, etc., none of the following recourses will be available to investors of such schemes:

  1. Benefits of investor protection under SEBI/ Exchange(s) Jurisdiction
  2. Exchange dispute resolution mechanism
  3. Investor grievance redressal mechanism administered by Exchange(s)

It is quite clear that these  circulars are intended against Indian Trading league (Samco). It is important that all of us investors/traders are aware of the above. 

fist

 

Empowering Indian retail investors/traders,

Comparebrokerages

Active clients – Broker wise in India – Jun 30th 2016

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Fellow traders & investors,

Find following the list of active clients of all the brokerage firms in India – 30th Jun 2016 compared versus 30th Nov 2015. This list is for equity clients only and is available on NSE website.

Active client = 1 trade in that particular financial year.

Visit our website http://comparebrokerages.in/ to compare the popular ones

30th June 2016                                                                 30th Nov 2015

ICICI SECURITIES LIMITED 561235 ICICI SECURITIES LIMITED 567188
HDFC SECURITIES LTD. 431292 HDFC SECURITIES LTD. 384736
SHAREKHAN LTD. 335063 SHAREKHAN LTD. 341809
INDIA INFOLINE LTD. 257260 INDIA INFOLINE LTD. 271383
KOTAK SECURITIES LTD. 242259 KOTAK SECURITIES LTD. 261482
AXIS SECURITIES LIMITED 200578 KARVY STOCK BROKING LTD. 170130
GEOJIT BNP PARIBAS FINANCIAL SERVICES LIMITED 178881 ANGEL BROKING PRIVATE LIMITED 168344
ANGEL BROKING PRIVATE LIMITED 177303 MOTILAL OSWAL SECURITIES LTD. 160831
MOTILAL OSWAL SECURITIES LTD. 173056 GEOJIT BNP PARIBAS FINANCIAL SERVICES LIMITED 160718
KARVY STOCK BROKING LTD. 167299 AXIS SECURITIES LIMITED 146518
SBICAP SECURITIES LIMITED 131682 RELIGARE SECURITIES LTD. 124826
RELIGARE SECURITIES LTD. 117695 SBICAP SECURITIES LIMITED 122433
RELIANCE SECURITIES LIMITED 102790 RELIANCE SECURITIES LIMITED 107613
ZERODHA 78180 EDELWEISS BROKING LIMITED 75625
EDELWEISS BROKING LIMITED 76730 SMC GLOBAL SECURITIES LTD. 64146
SMC GLOBAL SECURITIES LTD. 65102 NIRMAL BANG SECURITIES PVT. LTD. 60366
NIRMAL BANG SECURITIES PVT. LTD. 63221 ANAND RATHI SHARE AND STOCK BROKERS LIMITED 58505
VENTURA SECURITIES LTD. 61054 VENTURA SECURITIES LTD. 57598
ANAND RATHI SHARE AND STOCK BROKERS LIMITED 59457 ZERODHA 46052
ADITYA BIRLA MONEY LIMITED 39481 INDIABULLS VENTURES LTD. 40631
INDIABULLS VENTURES LTD. 37976 ADITYA BIRLA MONEY LIMITED 40525
MARWADI SHARES AND FINANCE LIMITED 36700 BMA WEALTH CREATORS LIMITED 36782
NETWORTH STOCK BROKING LTD. 35042 BONANZA PORTFOLIO LTD. 34015
BONANZA PORTFOLIO LTD. 33941 INTEGRATED ENTERPRISES (INDIA) LIMITED 33836
INTEGRATED ENTERPRISES (INDIA) LIMITED 32994 MASTER CAPITAL SERVICES LIMITED 33012
MASTER CAPITAL SERVICES LIMITED 32572 SHRIRAM INSIGHT SHARE BROKERS LIMITED 31400
BMA WEALTH CREATORS LIMITED 31174 JM FINANCIAL SERVICES LIMITED 27314
SHRIRAM INSIGHT SHARE BROKERS LIMITED 28985 NETWORTH STOCK BROKING LTD. 25024
JM FINANCIAL SERVICES LIMITED 28592 EDELWEISS FINANCIAL ADVISORS LIMITED 24512
TRADEBULLS SECURITIES (P) LTD. 27364 LKP SECURITIES LTD. 22274
SHRI PARASRAM HOLDINGS PVT. LTD. 23662 SHRI PARASRAM HOLDINGS PVT. LTD. 21938
IDBI CAPITAL MARKET SERVICES LTD. 21870 IDBI CAPITAL MARKET SERVICES LTD. 21321
LKP SECURITIES LTD. 21518 Asit C Mehta 21101
JHAVERI SECURITIES LIMITED 20945 GLOBE CAPITAL MARKET LIMITED 20092
ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD. 19730 JHAVERI SECURITIES LIMITED 19996
GLOBE CAPITAL MARKET LIMITED 19257 EUREKA 18575
EUREKA STOCK & SHARE BROKING SERVICES LIMITED 18315 SUSHIL FINANCE 18209
ALANKIT ASSIGNMENTS LTD. 16903 ARIHANT CAPITAL MARKETS LIMITED 17948
SWASTIKA INVESTMART LIMITED 16533 TRADEBULLS SECURITIES (P) LTD. 17618
STEEL CITY SECURITIES LTD. 13971 MONARCH 17062
ASHIKA STOCK BROKING LTD. 13540 ALANKIT ASSIGNMENTS LTD. 16721
EMKAY GLOBAL FINANCIAL SERVICES LIMITED 13517 TRUSTLINE SECURITIES LIMITED 16459
PRABHUDAS LILLADHER PVT. LTD. 12573 WAY2WEALTH BROKERS PRIVATE LIMITED 15795
ISE SECURITIES & SERVICES LIMITED 12403 SWASTIKA INVESTMART LIMITED 15113
KIFS TRADE CAPITAL PRIVATE LIMITED 12087 STEEL CITY SECURITIES LTD. 15038
TRUSTLINE SECURITIES LIMITED 12056 EMKAY 14129
ARCADIA SHARE & STOCK BROKERS PRIVATE LIMITED 11714 ASHIKA STOCK BROKING LTD. 14110
RKSV SECURITIES INDIA PRIVATE LIMITED 11239 ISE SECURITIES & SERVICES LIMITED 12437
SURESH RATHI SECURITIES PRIVATE LIMITED 11220 PRABHUDAS LILLADHER PVT. LTD. 12253
SAMCO SECURITIES LIMITED 10842 Janam 11863
VNS FINANCE & CAPITAL SERVICES LTD. 10071 Arcadia 11672
PHILLIPCAPITAL (INDIA) PVT. LTD 9677 BGSE FINANCIALS LIMITED 11650
R K GLOBAL SHARES & SECURITIES LIMITED 9474 INDITRADE CAPITAL LIMITED 11333
ASE CAPITAL MARKETS LTD. 9043 KIFS SECURITIES  PRIVATE LIMITED 11009
INTIME EQUITIES LIMITED 8930 R K GLOBAL SHARES & SECURITIES LIMITED 10356
FAIRWEALTH SECURITIES LIMITED 8766 PCS SECURITIES LTD. 10075
INDIANIVESH SECURITIES LTD. 8751 RKSV SECURITIES INDIA PRIVATE LIMITED 9842
GUINESS SECURITIES LIMITED 8714 FAIRWEALTH SECURITIES LIMITED 9687
STANDARD CHARTERED SECURITIES (INDIA) LIMITED 8535 GUINESS SECURITIES LIMITED 9642
SHCIL SERVICES LIMITED 8466 PHILLIPCAPITAL (INDIA) PVT. LTD 9632
SS CORPORATE SECURITIES LIMITED 8167 STANDARD CHARTERED 9351
MONARCH PROJECT & FINMARKETS LIMITED 8057 DBFS SECURITIES LIMITED 9303
PRUDENT BROKING SERVICES PRIVATE LIMITED 7972 VNS FINANCE & CAPITAL SERVICES LTD. 9131
PACE STOCK BROKING SERVICES PRIVATE LIMITED 7850 SURESH RATHI 8946
MANSUKH SECURITIES & FINANCE LIMITED 7850 C.D. EQUISEARCH PVT. LTD 8734
MUTHOOT SECURITIES LTD. 6976 DESTIMONEY SECURITIES PRIVATE LIMITED 8724
CAPSTOCKS & SECURITIES (INDIA) PRIVATE LIMITED 6951 HEDGE EQUITIES LIMITED 8689
LSE SECURITIES LIMITED 6785 SHREE BAHUBALI INTERNATIONAL LTD. 8531
LATIN MANHARLAL SECURITIES PVT. LTD. 6706 INTIME EQUITIES LIMITED 8508
DESTIMONEY SECURITIES PRIVATE LIMITED 6433 MANSUKH SECURITIES & FINANCE LIMITED 8310
C.D. EQUISEARCH PVT. LTD 6418 ADROIT 8173
MICROSEC CAPITAL LIMITED 6243 SSJ FINANCE & SECURITIES PVT. LTD. 7942
IFCI FINANCIAL SERVICES LIMITED 6154 INDIANIVESH SECURITIES PVT. LTD. 7877
AMRAPALI AADYA TRADING & INVESTMENT PRIVATE LIMITED 5734 IFCI FINANCIAL SERVICES LIMITED 7626
TATA SECURITIES LIMITED 5610 CAPSTOCKS 7312
PEERLESS SECURITIES LIMITED 5312 ASE CAPITAL MARKETS LTD. 7294
YES SECURITIES (INDIA) LIMITED 5227 MICROSEC CAPITAL LIMITED 7012
KUNVARJI FINSTOCK PVT. LTD. 5170 PACE STOCK BROKING 7000
SPFL SECURITIES LIMITED 5161 COIMBATORE CAPITAL LIMITED 6926
NAVIA MARKETS LTD. 4432 LSE SECURITIES LIMITED 6852
ALICE BLUE SECURITIES 4346 TATA SECURITIES LIMITED 6114
CHOICE EQUITY BROKING PRIVATE LIMITED 3917 PRUDENT BROKING 6030
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KAYNET FINANCE LIMITED 2859 SAMCO SECURITIES LIMITED 5697
AMBALAL SHARES & STOCKS PRIVATE LIMITED 2822 SYKES & RAY EQUITIES (I) LTD. 5628
SHREE KANHA STOCK BROKING PVT. LTD 2775 SOUTH ASIAN STOCKS LTD. 5617
NJ INDIA INVEST PRIVATE LIMITED 2684 B N RATHI SECURITIES LIMITED 5593
JYOTI PORTFOLIO PRIVATE LIMITED 2675 SPFL SECURITIES LIMITED 5369
JUST TRADE SECURITIES LIMITED 2615 ELITE WEALTH ADVISORS LIMITED 5118
ASTHA CREDIT & SECURITIES (P) LTD 2469 ATS SHARE BROKERS PRIVATE LIMITED 4942
EASTERN FINANCIERS LTD 2366 BANSAL FINSTOCK PRIVATE LIMITED 4717
ASHLAR SECURITIES PRIVATE LIMITED 2234 CHOLAMANDALAM SECURITIES LIMITED 4587
MODEX INTERNATIONAL SECURITIES LTD. 2057 KUNVARJI FINSTOCK PVT. LTD. 4495
NORTHEAST BROKING SERVICES LTD. 2012 ACUMEN CAPITAL MARKET (INDIA) LTD 4460
ALMONDZ GLOBAL SECURITIES LTD. 1741 SYSTEMATIX 4448
MULTIPLEX CAPITAL LTD. 1710 AMRAPALI AADYA 4438
CIL SECURITIES LTD. 1550 SKP SECURITIES LTD. 4424
KALPATARU MULTIPLIER LTD. 1531 MATALIA STOCK BROKING PVT. LTD. 4336
ANKIT SECURITIES & FINANCE COMPANY PRIVATE LIMITED 1483 INDIRA SECURITIES PRIVATE LIMITED 4287
COMPOSITE INVESTMENTS PRIVATE LIMITED 1466 NAVIA MARKETS LTD. 4060
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PSB SECURITIES LIMITED 1407 EXCLUSIVE SECURITIES LTD. 3911
MLB CAPITAL PRIVATE LIMITED 1375 DYNAMIC EQUITIES PRIVATE LIMITED 3808
ANUSH SHARES & SECURITIES PVT.LTD. 1314 NINE STAR BROKING PRIVATE LIMITED 3735
KARUNA FINANCIAL SERVICES PVT. LTD 1221 LAKSHMISHREE INVESTMENTS 3709
BERKELEY SECURITIES LIMITED 1131 VERTEX SECURITIES LTD. 3544
INDOVISION SECURITIES LIMITED 1130 ANS PVT. LTD. 3542
EDELWEISS SECURITIES LIMITED 1129 SW CAPITAL PRIVATE LIMITED 3528
BEZEL STOCK BROKERS PRIVATE LIMITED 1088 VOGUE COMMERCIAL COMPANY LIMITED 3510
RTG SHARE BROKING LIMITED 992 WEALTH MANTRA LIMITED 3464
SKUNG TRADELINK LIMITED 992 SATCO CAPITAL MARKETS LIMITED 3321
EXPONENTIAL FINANCIAL SERVICES PRIVATE LIMITED 989 ABHIPRA CAPITAL LTD. 3230
ARHAM SHARE CONSULTANTS PRIVATE LIMITED 986 JUST TRADE SECURITIES LIMITED 2936
MOTISONS SHARES PRIVATE LIMITED 958 INDIA ADVANTAGE 2913
VERACITY FINANCIAL SERVICES PVT LTD 908 ITI FINANCIAL SERVICES LTD. 2889
AMBIT SECURITIES BROKING PVT. LTD. 868 DIMENSIONAL SECURITIES PVT. LTD 2863
VGP PORTFOLIO 867 HSE SECURITIES LTD. 2849
VACHANA INVESTMENTS PRIVATE LIMITED 691 KAYNET FINANCE LIMITED 2831
GCL SECURITIES PVT LTD 575 SUGAL & DAMANI SHARE BROKERS LIMITED 2701
BEST BULL STOCK TRADING 575 SHILPA STOCK BROKER PRIVATE LIMITED 2693
PRL STOCK & SHARE BROKERS PVT. LTD. 570 CHOICE EQUITY BROKING PRIVATE LIMITED 2653
BEELINE BROKING LTD 561 EASTERN FINANCIERS LTD 2632
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MSE FINANCIAL SERVICES LTD. 536 NG RATHI INVESTRADES PRIVATED LIMITED 2611
ADWEALTH STOCK BROKING PRIVATE LIMITED 492 MPSE SECURITIES LIMITED 2587
KHAMBATTA SECURITIES LTD. 430 ASTHA CREDIT & SECURITIES (P) LTD 2567
I VENTURES CAPITAL PRIVATE LIMITED 387 MANUBHAI MANGALDAS 2560
PRRSAAR 386 DANI SHARES & STOCKS PRIVATE LIMITED 2520
PROFICIENT EQUITIES PRIVATE LIMITED 265 INTEGRATED MASTER 2453
SAS BROKING PRIVATE LIMITED 262 FRR SHARES AND SECURITIES LIMITED 2452
KEYNOTE CAPITALS LTD. 239 ASHLAR SECURITIES PRIVATE LIMITED 2441
NNM SECURITIES PVT. LTD. 183 DB (INTERNATIONAL) 2394
SPACE ANG INDIA CORPORATION 140 JKB FINANCIAL SERVICES LIMITED 2222
SODHANI SECURITIES LTD. 123 RR EQUITY BROKERS PVT. LTD. 2217
PAN SECURITIES LIMITED 104 NORTHEAST BROKING SERVICES LTD. 2107
SRI BHEEMESWARA SECURITIES (P) LTD 54 NJ INDIA INVEST PRIVATE LIMITED 2058
UNITY FINCAP PVT. LTD. 46 ORION CAPITAL AND DEBT MARKET 2056
MOTISONS SECURITIES PVT LTD 22 TRADESWIFT BROKING PRIVATE LIMITED 2025
QUANT SECURITIES PRIVATE LIMITED 7 FORTUNE CAPITAL 1807
ICICI BANK LTD. 5 ALMONDZ GLOBAL SECURITIES LTD. 1785
FORTUNE CAPITAL SERVICES 2 ORTEM SECURITIES LIMITED 1778
JKM STOCK VISION 1 GOGIA CAPITAL SERVICES LIMITED 1756
TRADEWELL SECURITIES LTD. NA TRADEWELL SECURITIES LTD. 1589
RAGHUNANDAN CAPITAL PRIVATE LIMITED NA RAGHUNANDAN CAPITAL PRIVATE LIMITED 1568
KALPATARU MULTIPLIER LTD. NA KALPATARU MULTIPLIER LTD. 1552
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PATERSON SECURITIES PRIVATE LIMITED NA PATERSON SECURITIES PRIVATE LIMITED 1506
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ACHIIEVERS EQUITIES LIMITED NA ACHIIEVERS EQUITIES LIMITED 1404
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SUNFLOWER BROKING PVT. LTD. NA SUNFLOWER BROKING PVT. LTD. 1154
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FAIRWEALTH SECURITIES LIMITED NA FAIRWEALTH SECURITIES LIMITED 2305
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VGP PORTFOLIO NA VGP PORTFOLIO 1066
MEHTA EQUITIES LIMITED NA MEHTA EQUITIES LIMITED 1059
INDO THAI SECURITIES LTD. NA INDO THAI SECURITIES LTD. 1012
TR CAPITAL LIMITED NA TR CAPITAL LIMITED 1008
MERITS CAPITAL MARKET SERVICES PVT. LTD. NA MERITS CAPITAL MARKET SERVICES PVT. LTD. 1007
BADJATE STOCK AND SHARES PRIVATE LIMITED NA BADJATE STOCK AND SHARES PRIVATE LIMITED 976

Networth Direct aka Monarch Networth capital suspended for 1 month

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Fellow traders & investors,

Networth Stock Broking Ltd., (New Name: Monarch Networth Capital Limited) has been suspended from trading for a period of one month on charges of participating in “Circular Trading”, a manipulative trading practice, between 1st of  August 2002 and 16th of October 2002 and in doing so driving the price of G. G. Automotive Gears Limited from Rs.23 to Rs. 115.30 in the 38 day period.

Networth’s  broking license was suspended for a period of one month by SEBI in April of 2011. But the order was overturned by a Special Appellate Tribunal(SAT). On further appeals from the regulator, and a Supreme Court order dated 20th May 2016, Networth, now Monarch Networth Capital Limited has been asked to cease all trading on exchanges for a period of one month starting 21st May 2016.

Check this link from BSE for more.

Our view on what should you do?  

The balance sheet of the company seems to be in an okay shape. PAT of Rs 3 crores for FY 14/15. But still if you are a client you would not be able to take a trade with them from monday. It is best advised to move your business from this brokerage to another firm. You can use our portal Comparbrokerages to decide.

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Empowering Indian retail investors/traders,

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