Networth Direct aka Monarch Networth capital suspended for 1 month
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.
Empowering Indian retail investors/traders,
Most popular discount brokerages in India
Fellow traders & investors,
A question asked quite often on who is the most popular discount brokerage in India. Find below an image from google trends that compare the four most popular discount brokerages in India currently.
Don’t forget to visit our homepage http://comparebrokerages.in/ to compare all their financials, charges, platforms and more.
RKSV Kalaari capital investment – Insiderview
Fellow traders & investors,
Read the news on RKSV securities raising Rs 27 crores from Kalaari Capital today morning on Economic Times. Being a CA who follows all the brokerages closely, I took some effort to go through the filings, here is quick overview of the deal:
- Firstly, the news article reads 50,000 clients. It is not correct, it is lesser than 10,000 clients as per the latest list available with the exchange. Check this post with all brokers and their active clients.
- Rs 27 Crores of investment has lead to dilution of around 18% stake in the business. So RKSV securities has been valued at around Rs 150 crores.
- The revenue from operations for the last year was around Rs 7.5 crores. The net loss for the business in the last two financial years FY 2014-15 and FY 2013-14, have been Rs 7 Lakhs and Rs 73 Lakhs respectively.
I guess it was the need of the hour for them to raise some capital, with the losses over the last two years. It is very encouraging though that VC investors are now looking at startups in the capital markets. Fundsindia (around Rs 80 crores), Scripbox (Rs 20 crores), Samco/Indian trading league (Rs 20 crores), and now RKSV (Rs 27 crores). Most of these investments were committed before the recent bloodbath on the stock markets. It would be interesting to find out from the investors if they would have committed capital with so much turmoil around.
Wishing the team at RKSV securities all the best. Also hoping that they spend the money wisely and not just blow it all out on advertising like Samco securities.
Don’t forget to visit http://comparebrokerages.in/.
Empowering Indian retail investors/traders,
Active clients – Broker wise in India
Fellow traders & investors,
Find following the list of active clients of all the brokerage firms in India – this is as of 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.
| 1 | ICICI SECURITIES LIMITED | 567188 |
| 2 | HDFC SECURITIES LTD. | 384736 |
| 3 | SHAREKHAN LTD. | 341809 |
| 4 | INDIA INFOLINE LTD. | 271383 |
| 5 | KOTAK SECURITIES LTD. | 261482 |
| 6 | KARVY STOCK BROKING LTD. | 170130 |
| 7 | ANGEL BROKING PRIVATE LIMITED | 168344 |
| 8 | MOTILAL OSWAL SECURITIES LTD. | 160831 |
| 9 | GEOJIT BNP PARIBAS FINANCIAL SERVICES LIMITED | 160718 |
| 10 | AXIS SECURITIES LIMITED | 146518 |
| 11 | RELIGARE SECURITIES LTD. | 124826 |
| 12 | SBICAP SECURITIES LIMITED | 122433 |
| 13 | RELIANCE SECURITIES LIMITED | 107613 |
| 14 | EDELWEISS BROKING LIMITED | 75625 |
| 15 | SMC GLOBAL SECURITIES LTD. | 64146 |
| 16 | NIRMAL BANG SECURITIES PVT. LTD. | 60366 |
| 17 | ANAND RATHI SHARE AND STOCK BROKERS LIMITED | 58505 |
| 18 | VENTURA SECURITIES LTD. | 57598 |
| 19 | ZERODHA | 46052 |
| 20 | INDIABULLS VENTURES LTD. | 40631 |
| 21 | ADITYA BIRLA MONEY LIMITED | 40525 |
| 22 | BMA WEALTH CREATORS LIMITED | 36782 |
| 23 | BONANZA PORTFOLIO LTD. | 34015 |
| 24 | INTEGRATED ENTERPRISES (INDIA) LIMITED | 33836 |
| 25 | MASTER CAPITAL SERVICES LIMITED | 33012 |
| 26 | SHRIRAM INSIGHT SHARE BROKERS LIMITED | 31400 |
| 27 | JM FINANCIAL SERVICES LIMITED | 27314 |
| 28 | NETWORTH STOCK BROKING LTD. | 25024 |
| 29 | EDELWEISS FINANCIAL ADVISORS LIMITED | 24512 |
| 30 | LKP SECURITIES LTD. | 22274 |
| 31 | SHRI PARASRAM HOLDINGS PVT. LTD. | 21938 |
| 32 | IDBI CAPITAL MARKET SERVICES LTD. | 21321 |
| 33 | ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD. | 21101 |
| 34 | GLOBE CAPITAL MARKET LIMITED | 20092 |
| 35 | JHAVERI SECURITIES LIMITED | 19996 |
| 36 | EUREKA STOCK & SHARE BROKING SERVICES LIMITED | 18575 |
| 37 | SUSHIL FINANCIAL SERVICES PRIVATE LIMITED | 18209 |
| 38 | ARIHANT CAPITAL MARKETS LIMITED | 17948 |
| 39 | TRADEBULLS SECURITIES (P) LTD. | 17618 |
| 40 | MONARCH PROJECT & FINMARKETS LIMITED | 17062 |
| 41 | ALANKIT ASSIGNMENTS LTD. | 16721 |
| 42 | TRUSTLINE SECURITIES LIMITED | 16459 |
| 43 | WAY2WEALTH BROKERS PRIVATE LIMITED | 15795 |
| 44 | SWASTIKA INVESTMART LIMITED | 15113 |
| 45 | STEEL CITY SECURITIES LTD. | 15038 |
| 46 | EMKAY GLOBAL FINANCIAL SERVICES LIMITED | 14129 |
| 47 | ASHIKA STOCK BROKING LTD. | 14110 |
| 48 | ISE SECURITIES & SERVICES LIMITED | 12437 |
| 49 | PRABHUDAS LILLADHER PVT. LTD. | 12253 |
| 50 | JAINAM SHARE CONSULTANTS PRIVATE LIMITED | 11863 |
| 51 | ARCADIA SHARE & STOCK BROKERS PRIVATE LIMITED | 11672 |
| 52 | BGSE FINANCIALS LIMITED | 11650 |
| 53 | INDITRADE CAPITAL LIMITED | 11333 |
| 54 | KIFS SECURITIES PRIVATE LIMITED | 11009 |
| 55 | R K GLOBAL SHARES & SECURITIES LIMITED | 10356 |
| 56 | PCS SECURITIES LTD. | 10075 |
| 57 | RKSV SECURITIES INDIA PRIVATE LIMITED | 9842 |
| 58 | FAIRWEALTH SECURITIES LIMITED | 9687 |
| 59 | GUINESS SECURITIES LIMITED | 9642 |
| 60 | PHILLIPCAPITAL (INDIA) PVT. LTD | 9632 |
| 61 | STANDARD CHARTERED SECURITIES (INDIA) LIMITED | 9351 |
| 62 | DBFS SECURITIES LIMITED | 9303 |
| 63 | VNS FINANCE & CAPITAL SERVICES LTD. | 9131 |
| 64 | SURESH RATHI SECURITIES PRIVATE LIMITED | 8946 |
| 65 | C.D. EQUISEARCH PVT. LTD | 8734 |
| 66 | DESTIMONEY SECURITIES PRIVATE LIMITED | 8724 |
| 67 | HEDGE EQUITIES LIMITED | 8689 |
| 68 | SHREE BAHUBALI INTERNATIONAL LTD. | 8531 |
| 69 | INTIME EQUITIES LIMITED | 8508 |
| 70 | MANSUKH SECURITIES & FINANCE LIMITED | 8310 |
| 71 | ADROIT FINANCIAL SERVICES PRIVATE LIMITED | 8173 |
| 72 | SSJ FINANCE & SECURITIES PVT. LTD. | 7942 |
| 73 | INDIANIVESH SECURITIES PVT. LTD. | 7877 |
| 74 | IFCI FINANCIAL SERVICES LIMITED | 7626 |
| 75 | CAPSTOCKS & SECURITIES (INDIA) PRIVATE LIMITED | 7312 |
| 76 | ASE CAPITAL MARKETS LTD. | 7294 |
| 77 | MICROSEC CAPITAL LIMITED | 7012 |
| 78 | PACE STOCK BROKING SERVICES PRIVATE LIMITED | 7000 |
| 79 | COIMBATORE CAPITAL LIMITED | 6926 |
| 80 | LSE SECURITIES LIMITED | 6852 |
| 81 | TATA SECURITIES LIMITED | 6114 |
| 82 | PRUDENT BROKING SERVICES PRIVATE LIMITED | 6030 |
| 83 | MUTHOOT SECURITIES LTD. | 5981 |
| 84 | CONSORTIUM SECURITIES PRIVATE LTD. | 5795 |
| 85 | INDBANK MERCHANT BANKING SERVICES LTD. | 5740 |
| 86 | PEERLESS SECURITIES LIMITED | 5739 |
| 87 | SAMCO SECURITIES LIMITED | 5697 |
| 88 | SYKES & RAY EQUITIES (I) LTD. | 5628 |
| 89 | SOUTH ASIAN STOCKS LTD. | 5617 |
| 90 | B N RATHI SECURITIES LIMITED | 5593 |
| 91 | SPFL SECURITIES LIMITED | 5369 |
| 92 | ELITE WEALTH ADVISORS LIMITED | 5118 |
| 93 | ATS SHARE BROKERS PRIVATE LIMITED | 4942 |
| 94 | BANSAL FINSTOCK PRIVATE LIMITED | 4717 |
| 95 | CHOLAMANDALAM SECURITIES LIMITED | 4587 |
| 96 | KUNVARJI FINSTOCK PVT. LTD. | 4495 |
| 97 | ACUMEN CAPITAL MARKET (INDIA) LTD | 4460 |
| 98 | SYSTEMATIX SHARES & STOCKS (INDIA) LTD. | 4448 |
| 99 | AMRAPALI AADYA TRADING & INVESTMENT PRIVATE LIMITED | 4438 |
| 100 | SKP SECURITIES LTD. | 4424 |
| 101 | MATALIA STOCK BROKING PVT. LTD. | 4336 |
| 102 | INDIRA SECURITIES PRIVATE LIMITED | 4287 |
| 103 | NAVIA MARKETS LTD. | 4060 |
| 104 | ALICE BLUE SECURITIES | 4050 |
| 105 | EXCLUSIVE SECURITIES LTD. | 3911 |
| 106 | DYNAMIC EQUITIES PRIVATE LIMITED | 3808 |
| 107 | NINE STAR BROKING PRIVATE LIMITED | 3735 |
| 108 | LAKSHMISHREE INVESTMENT & SECURITIES PVT. LTD. | 3709 |
| 109 | VERTEX SECURITIES LTD. | 3544 |
| 110 | ANS PVT. LTD. | 3542 |
| 111 | SW CAPITAL PRIVATE LIMITED | 3528 |
| 112 | VOGUE COMMERCIAL COMPANY LIMITED | 3510 |
| 113 | WEALTH MANTRA LIMITED | 3464 |
| 114 | SATCO CAPITAL MARKETS LIMITED | 3321 |
| 115 | ABHIPRA CAPITAL LTD. | 3230 |
| 116 | JUST TRADE SECURITIES LIMITED | 2936 |
| 117 | INDIA ADVANTAGE SECURITIES PRIVATE LIMITED | 2913 |
| 118 | ITI FINANCIAL SERVICES LTD. | 2889 |
| 119 | DIMENSIONAL SECURITIES PVT. LTD | 2863 |
| 120 | HSE SECURITIES LTD. | 2849 |
| 121 | KAYNET FINANCE LIMITED | 2831 |
| 122 | SUGAL & DAMANI SHARE BROKERS LIMITED | 2701 |
| 123 | SHILPA STOCK BROKER PRIVATE LIMITED | 2693 |
| 124 | CHOICE EQUITY BROKING PRIVATE LIMITED | 2653 |
| 125 | EASTERN FINANCIERS LTD | 2632 |
| 126 | KANTILAL CHHAGANLAL SECURITIES PRIVATE LIMITED | 2619 |
| 127 | NG RATHI INVESTRADES PRIVATED LIMITED | 2611 |
| 128 | MPSE SECURITIES LIMITED | 2587 |
| 129 | ASTHA CREDIT & SECURITIES (P) LTD | 2567 |
| 130 | MANUBHAI MANGALDAS SECURITIES PVT. LTD. | 2560 |
| 131 | DANI SHARES & STOCKS PRIVATE LIMITED | 2520 |
| 132 | INTEGRATED MASTER SECURITIES PVT. LTD. | 2453 |
| 133 | FRR SHARES AND SECURITIES LIMITED | 2452 |
| 134 | ASHLAR SECURITIES PRIVATE LIMITED | 2441 |
| 135 | DB (INTERNATIONAL) STOCK BROKERS LTD. | 2394 |
| 136 | JKB FINANCIAL SERVICES LIMITED | 2222 |
| 137 | RR EQUITY BROKERS PVT. LTD. | 2217 |
| 138 | NORTHEAST BROKING SERVICES LTD. | 2107 |
| 139 | NJ INDIA INVEST PRIVATE LIMITED | 2058 |
| 140 | ORION CAPITAL AND DEBT MARKET | 2056 |
| 141 | TRADESWIFT BROKING PRIVATE LIMITED | 2025 |
| 142 | FORTUNE CAPITAL SERVICES PRIVATE LIMITED | 1807 |
| 143 | ALMONDZ GLOBAL SECURITIES LTD. | 1785 |
| 144 | ORTEM SECURITIES LIMITED | 1778 |
| 145 | GOGIA CAPITAL SERVICES LIMITED | 1756 |
| 146 | TRADEWELL SECURITIES LTD. | 1589 |
| 147 | RAGHUNANDAN CAPITAL PRIVATE LIMITED | 1568 |
| 148 | KALPATARU MULTIPLIER LTD. | 1552 |
| 149 | FORTUNE FISCAL LTD | 1541 |
| 150 | PATERSON SECURITIES PRIVATE LIMITED | 1506 |
| 151 | F6 FINSERVE PRIVATE LIMITED | 1481 |
| 152 | BALJIT SECURITIES PVT. LTD. | 1448 |
| 153 | GREENBUCKS SECURITIES PRIVATE LIMITED | 1417 |
| 154 | ACHIIEVERS EQUITIES LIMITED | 1404 |
| 155 | EDELWEISS SECURITIES LIMITED | 1397 |
| 156 | SKI CAPITAL SERVICES LTD. | 1338 |
| 157 | KARUNA FINANCIAL SERVICES PVT. LTD | 1309 |
| 158 | EAST INDIA SECURITIES LTD. | 1302 |
| 159 | RTG SHARE BROKING LIMITED | 1286 |
| 160 | BEZEL STOCK BROKERS PRIVATE LIMITED | 1255 |
| 161 | BERKELEY SECURITIES LIMITED | 1235 |
| 162 | FAST CAPITAL MARKETS LTD. | 1182 |
| 163 | INDOVISION SECURITIES LIMITED | 1175 |
| 164 | SUNFLOWER BROKING PVT. LTD. | 1154 |
| 165 | FORT SHARE BROKING PRIVATE LIMITED | 1151 |
| 166 | COMPOSITE SECURITIES LTD. | 1145 |
| 167 | PEE AAR SECURITIES LIMITED | 1089 |
| 168 | VGP PORTFOLIO | 1066 |
| 169 | MEHTA EQUITIES LIMITED | 1059 |
| 170 | INDO THAI SECURITIES LTD. | 1012 |
| 171 | TR CAPITAL LIMITED | 1008 |
| 172 | MERITS CAPITAL MARKET SERVICES PVT. LTD. | 1007 |
| 173 | BADJATE STOCK AND SHARES PRIVATE LIMITED | 976 |
| 174 | KUMAR SHARE BROKERS LTD. | 925 |
| 175 | MAXGROWTH CAPITAL PRIVATE LIMITED | 912 |
| 176 | SHREEPATI HOLDINGS & FINANCE PRIVATE LIMITED | 890 |
| 177 | TRANSPARENT SHARES AND SECURITIES PRIVATE LIMITED | 882 |
| 178 | SKUNG TRADELINK LIMITED | 793 |
| 179 | WELLINDIA SECURITIES LIMITED | 779 |
| 180 | URJA INVESTMENT PVT. LTD. | 778 |
| 181 | VEDIKA SECURITIES (P) LTD | 764 |
| 182 | VACHANA INVESTMENTS PRIVATE LIMITED | 678 |
| 183 | PRL STOCK & SHARE BROKERS PVT. LTD. | 656 |
| 184 | ROONGTA RISING STOCK PRIVATE LIMITED | 652 |
| 185 | VISHWAS FINCAP SERVICES PRIVATE LIMITED | 594 |
| 186 | ACTION FINANCIAL SERVICES (INDIA) LIMITED | 594 |
| 187 | COMFORT SECURITIES LIMITED | 593 |
| 188 | BOB CAPITAL MARKETS LIMITED | 557 |
| 189 | FINVASIA SECURITIES PRIVATE LIMITED | 524 |
| 190 | AJMERA ASSOCIATES LTD. | 485 |
| 191 | INTELLECT STOCK BROKING LIMITED | 438 |
| 192 | SHREE TISAI CONSULTANT PRIVATE LIMITED | 425 |
| 193 | FIRST GLOBAL STOCKBROKING PVT.LTD. | 419 |
| 194 | I VENTURES CAPITAL PRIVATE LIMITED | 399 |
| 195 | AXIS CAPITAL LIMITED | 395 |
| 196 | INTERACTIVE BROKERS (INDIA) PRIVATE LIMITED | 367 |
| 197 | MONEYPLEX SECURITIES PRIVATE LIMITED | 339 |
| 198 | PRRSAAR | 333 |
| 199 | KARMIC STOCK BROKING PRIVATE LIMITED | 329 |
| 200 | SHRIAM FINANCIAL PRIVATE LIMITED | 321 |
| 201 | BHAIJEE PORTFOLIO LIMITED | 299 |
| 202 | SAS BROKING PRIVATE LIMITED | 279 |
| 203 | CAPITAL WIZARD STOCK BROKING PVT. LTD. | 252 |
| 204 | MANALI TRADING & HOLDINGS PRIVATE LIMITED | 251 |
| 205 | PADMAKSHI FINANCIAL SERVICES LIMITED | 250 |
| 206 | KEYNOTE CAPITALS LTD. | 247 |
| 207 | DIVYA PORTFOLIO PRIVATE LIMITED | 245 |
| 208 | UBS SECURITIES INDIA PVT. LTD. | 232 |
| 209 | SAMURAI SECURITIES PRIVATE LIMITED | 187 |
| 210 | REFLECTION INVESTMENTS | 185 |
| 211 | FLOURISH FINCAP PVT LTD | 176 |
| 212 | TIME CAPITAL LTD. | 160 |
| 213 | BNK SECURITIES PVT.LTD. | 148 |
| 214 | MOONGIPA INVESTMENTS LIMITED | 143 |
| 215 | INFINITY.COM FINANCIAL SECURITIES LIMITED | 124 |
| 216 | PAN SECURITIES LIMITED | 114 |
| 217 | RELIGARE CAPITAL MARKETS LIMITED | 112 |
| 218 | PARIM FINSERV | 104 |
| 219 | FINCAP PORTFOLIO LIMITED | 101 |
| 220 | COMPUACTION FINANCIAL SERVICES PVT. LTD. | 97 |
| 221 | SAMRIDHI STOCKS PVT. LTD. | 68 |
| 222 | SRM SECURITIES PRIVATE LIMITED | 58 |
| 223 | ENRICH FIN & SECURITIES LTD. | 58 |
| 224 | NIRMAL BANG EQUITIES PRIVATE LIMITED | 52 |
| 225 | NORD FOREX INDIA PVT. LTD. | 46 |
| 226 | GOLDSTREET SECURITIES LIMITED | 45 |
| 227 | DJS STOCK AND SHARES LTD. | 35 |
| 228 | QUANT SECURITIES PRIVATE LIMITED | 34 |
| 229 | BURGEON SECURITIES | 31 |
| 230 | GOOD FORTUNE CAPITALS PRIVATE LIMITED | 30 |
| 231 | ADVENTURES INDIA FINANCIAL SERVICES LIMITED | 28 |
| 232 | KORP SECURITIES LTD | 23 |
| 233 | ANGEL SECURITIES LTD | 20 |
| 234 | OPG SECURITIES PVT. LTD. | 19 |
| 235 | ICICI BANK LTD. | 7 |
| 236 | PASSION STOCK BROKING PRIVATE LIMITED | 6 |
| 237 | CREATIVE GLOBAL STOCK BROKING PRIVATE LIMITED | 4 |
| 238 | ORION STOCKS LIMITED | 3 |
| 239 | KOTAK MAHINDRA BANK LTD. | 1 |
| 240 | TRANSGLOBAL SECURITIES LTD. | 1 |
| 241 | BANSAL SHAREVEST SERVICES LTD | 1 |
| 242 | ICICI SECURITIES PRIMARY DEALERSHIP LIMITED | 1 |
| 243 | UNICON SECURITIES PVT. LTD. | 0 |
| 244 | MAX PLANWEALTH SECURITIES LIMITED | 0 |
| 245 | FIN BRAINS SECURITIES (INDIA) LTD. | 0 |
| 246 | STOCK HOLDING CORPORATION OF INDIA LTD | 0 |
| 247 | DREAMS BROKING PRIVATE LIMITED | 0 |
| 248 | CLICK2TRADE CAPITAL LIMITED | 0 |
| 249 | HDFC BANK LTD. | 0 |
| 250 | ZERODHA SECURITIES PRIVATE LIMITED | 0 |
| 251 | MNS SECURITIES LTD. | 0 |
| 252 | ORIENT CAPITAL MARKETS PVT.LTD. | 0 |
| 253 | ANAND RATHI FINANCIAL SERVICES LIMITED | 0 |
| 254 | ALKA SECURITIES LTD | 0 |
| 255 | AXIS CAPITAL MARKET (INDIA) LIMITED | 0 |
| 256 | IL&FS SECURITIES SERVICES LIMITED | 0 |
| 257 | EDELWEISS CAPITAL LTD. | 0 |
| 258 | BASANT SHARE AND STOCK BROKING PVT. LTD. | 0 |
| 259 | SHREYAS STOCKS PRIVATE LIMITED | 0 |
| 260 | ROYAL INTERNATIONAL SHARES PRIVATE LIMITED | 0 |
| 261 | FULLERTON SECURITIES & WEALTH ADVISORS LIMITED | 0 |
| 262 | INDIABULLS BROKERAGE LIMITED | 0 |
| 263 | MAHESH INVESTMENTS | 0 |
| 264 | ORIENTAL CAPITAL MARKETS LTD. | 0 |
| 265 | KOTAK MAHINDRA SECURITIES LTD. | 0 |
| 266 | ICICI WEB TRADE LTD | 0 |
| 267 | INDIAN FINANCE GUARANTY LTD. | 0 |
| 268 | M G CAPITAL SERVICES LTD. | 0 |
Empowering Indian retail investors/traders,
Orion broking bankruptcy – lesson to learn!
Fellow traders & investors,
Has been a while since I wrote a post. Writing this to reiterate the lessons to learn while choosing a broker. I had written this post when Unicon securities went bankrupt a while back, saying how we should not go with any broker who seems willingly wanting to violate rules and regulations.
Orion broking had its primary website as : http://www.orionbroking.com/ offering brokerage services in both Equity and Commodity. The company which is based out of Coimbatore, the promoters are currently underground. Cops are investigating the case now, check this news article.
Have interacted with the promoters a few times, and they for sure are definitely not crooks. Their business model was to entice clients with extreme amounts of leverage. Trade with Rs 2000 for 1 lot of Nifty and Rs 3000 for Bank nifty. In commodities they would give any leverage that you ask for, even let you trade the big gold contract with less than Rs 5000 in the account. The website doesn’t really talk about these leverages anywhere, but if you speak to any of their clients you will know.
On August 20th, Globe capital who is a clearing member of Orion squared off all their positions due to not being able to meet the MTM(marked to market) requirement. Standing now, after the positions were squared off, Orion owes over Rs 40 crores to Globe capital and the exchanges. This is after Orion broking’s personal and client funds which was already debited by the exchange/clearing member to meet obligations. Client funds would have anyways been debited, but what is shocking is that the promoters even liquidated stocks lying in the client demat accounts to meet exchange obligations. So currently all clients of Orion broking who had any money or stock with them are in a soup. Yes, there is Investor protection fund by the exchanges, but it will take its own sweet time.
*An update on Orion Broking Services – The active directors of Orion Broking Services have been arrested on 8th March 2016, on the grounds of the following as per the Indian Penal code –
1. Section 120B (punishment for criminal conspiracy)
2. Section 409 (criminal breach of trust by public servant, or by banker, merchant or agent)
3. 420 (cheating and dishonestly inducing delivery of property)
Kindly go through this article to know more :- http://www.thehindu.com/news/national/tamil-nadu/prime-accused-in-stock-broking-scam-held/article8333481.ece. A further probe is now being instigated against them.
Lesson to Learn?
This just goes to show that, chasing the broker who provides the highest margin may not be the best thing for you. Leverage is a double edged sword, it can not only wipe out your account in a hurry, but also the broker’s. Ensure that you choose a broker who is not over leveraging themselves and their clients.
Empowering Indian retail investors/traders,
Best trading platform in India? – Sharekhan Trade Tiger or Zerodha Pi ?
Fellow Traders & Investors,
My vote goes to Zerodha Pi and following is a comparison and my basis for considering Zerodha Pi as the best trading platform in India. There are certain pluses TradeTiger has over Pi, but overall after using both for the last few days, I think Pi is better.
Check this link to compare Sharekhan vs Zerodha in terms of everything else.
There are currently only these two contenders for the top spot. India Bulls was a close contender to be part of the top 3, but considering how disinterested the promoters are towards stock broking I have left them out.
Resource Management
Memory usage : Pi uses 1/3rd of what TT does.
CPU usage: Pi is generally lesser than TT
Bandwidth/Network Usage: Usage of Pi is lesser than TT
Marketwatch
Multiple Marketwatch: TradeTiger has an option to add multiple marketwatches, on Pi the workaround is to use workspaces.
Adding scrips: Easier to add scrips on Pi vs TT
Charting
Intraday data: TT has it only for the last 30 days. On Pi you can pull upto 365 days and more (maximum of 20,000 candles).
Historical data: TT has 10 years whereas Pi has for 5 years.
Time frame settings: TT scores over Pi, you can switch from one time frame to other quite easily. New charts have to be opened in Pi.
Indicators: Pi has 80+, whereas TT has 16+. Pi has more indicators and also has the crosshair function
Trading from the chart: feature available only on Pi.
Number of charts at one time:
TT: Maximum 5 charts
Pi: Maximum 12 charts
Option Calculator
TT has it whereas Pi doesn’t as of now.
Price alerts
Straight forward in TT, a little complex on Pi, you have to use expert advisor or scripted alerts. The advantage with Pi though is that the scripted alert/expert advisor can be used not just for price, but for any technical analysis based strategies. You can have multiple expert advisors searching and scouting for trading opportunities. You can also create consensus report using multiple EA’s.
Research calls and reports
Sharekhan has an active advisory desk, which gives out research reports which are accessible on TT.
Since Zerodha doesn’t do any research, you can’t see any fundamental data on Pi.
Overall after using Pi for the last week alongside TT, I think it is better overall. So my vote is definitely with Pi for the best trading platform in India.
Empowering Indian retail investors/traders.
Samco – Indian Trading League – Review
Fellow Traders and Investors,
All these advertisements by Kapil Dev for Indian trading league spawned my curiosity. I gave them a call which ended at Samco securities, the execution broker for Indian trading league. That is when I realized that this entire initiative is by Samco and Kapil Dev has invested into Samco.
We have already added Samco on our list of 70+ brokers where you can see everything from financials to hidden charges to everything else. Click on this link to check the review about Samco.
Samco seems to have been inspired by Zerodha, not just in terms of their pricing model, but also the Indian trading league being an extension of the Zerodha’s 60 day challenge. They have also gone one step ahead seemingly infringing the copyright violations by copy pasting a few of the pages from Zerodha whose website has been live for the last 4 + years. A couple of examples are given below:
Note that even the savings number shown by default matches Zerodha
My verdict on Samco, and should you start a relationship with them?
1. Samco is erstwhile Samruddhi Securities, and this is their rebranded initiative. The financials of the company even after being in business for a very long time is quite ordinary. If you visit the link on comparebrokerages for Samco, you will see that profits are less than Rs 10lks/year for the last 3 years. The entire balance sheet size for last year (equity and commodity business together) is only around Rs 15 crores, which is the least among all the discount brokers out there. So the question arises if all these prizes – especially Rs 1 crore for the winning trader is actually for real, or just a marketing gimmick to get leads. Yes, they have a new investor in the business, but the question still arises on why would someone invest in a business like this which has quite a bad track record.
2. When this news article was released by ET on May 6th, the website Indiantradingleague.com by mistake was open for public for a few minutes. I guess they realized the folly and shut it down within 5 mins. I was one of the lucky few to have checked out what it was all about even before the launch. They were running a marketing blitz under #eknayileague to give away Rs 1lk to whoever could guess what it was all about. Since I knew what it was, entered into the contest just to see if I am able to win anything( atleast meet Kapil Dev if not for the cash prize). My submission was not even acknowledged forget any prize, the only thing I got from them were spam emails asking me to open an account with Samco the last two days.
Considering that there are not many reviews available on the trading platform and considering that they seem to be blowing this prize money out of proportion, I think it is best to avoid. Smells a little like the “Hometrade scam” back in 2002 when cricketers and actors started advertising for Hometrade which eventually collapsed and caused losses of over Rs 600 crores to the investors.
If you are looking at discount brokers, I’d advise you to choose between Zerodha or RKSV.
Empowering Indian retail investors/traders,
IIFL Rs 9.99 per executed order, just a gimmick?
Fellow Traders and Investors,
I guess you must have read the press coverage about how IIFL is reducing the brokerage to as low as just Rs 9.99 per executed order and how Mr Nirmal Jain has claimed that they can go even lower.
In Live Mint
Be very careful, because we think true to its tradition and reputation even this scheme from IIFL is conniving to say the least. Here are the reasons why:
- They will be providing you only web based platform, there won’t be any option to use the desktop or the mobile version. If you have to use the desktop or the mobile, you will have to shift to their traditional brokerage plan.
- They are having hidden charges in the name of exchange transaction charges. Check this post to know about how brokerages charge extra in the name of turnover charges. India Infoline charges 0.038% or Rs 380 per crore for futures, whereas ideally it should be only around 0.0021% or Rs 210 per crore. Similarly much higher for options (0.058%) and commodity (0.0041%).
- No option to place call n trade, you will have to move to their traditional plan if you want to do so.
Click here to see all other details about India Infoline.
So instead of being penny wise and pound foolish, it is best to avoid IIFL and use one of the reputed discount brokerages out there. Use our website Comparebrokerages, to make the best choice.
Empowering Indian retail investors/traders,
Is it safe trading with Discount brokers who are not registered on exchanges directly?
Fellow Trader and Investors,
With the advent of discount brokerage in India, there are many traditional brokerage houses trying their hand at discount broking in a different brand name. The reason for doing this under a different brand name is quite obvious, this low cost plan doesn’t eat into their existing clientele who would probably be paying a much higher brokerage. The query that I see often, is it safe to trade with such entities?
So here is the list of such brokerages:
- Compositedge Composite Investments Private Limited
- Easy Tradez Asit C Mehta
- Rupeeseed Acumen
- MyvalueTrade Mastertrust Capital Services
- Tradewalla Berkeley Securities
- Trade plus Navia Markets
- Tradesmartonline VNS Financials
- Wisdom Capital F6 Finserve (Wisdom is the only one on the list who is a different entity, all the others are owned by the parent brand)
The risk of trading in terms of technology or financial risk with such firms is equal to that of directly trading with the parent brand as all the account opening documents will be executed in name of the parent brand. So there is no increase in risk just because you trade with a brand created by the parent company to promote low cost brokerage.
Empowering retail investors and traders,
Comparebrokerages,
