Yes, Its easy & I am familiar with
The question is about paying cash on t+2 for delivery, Does 5paisa & other follow that?
Do they (5 paisa) allow GSM stage 2 shares as well? thanks
If u have delivery they allow to sell most of the shares
Zerodha is charging 2.5% brokerage for non pis account holders
Any good broker who can charge less than this
@Nikhil.A I have a general query.
āNRI can only have one NRI PIS bank account (required for trading on repatriation basis) with a designated bank approved by RBIā
I couldnāt understand the above statement, what does it mean? Currently I have an account with ICICI and Kotak Sec and have some shares in both of them.
Suppose if I would like to open an account with discount broker and link to the ICICI PIS account (To be frank I donāt know is it a PIS account), is it possible?
Please clarify.
Thanks!!
PIS account is like a normal savings account but it is linked to a NRIās Trading/Demat account and enables an NRI to buy/sell shares. RBI permits you to have only one banker with whom you can have two PIS bank accounts (one NRE and one NRO). If you need to change the banker say from ICICI Bank to HDFC Bank (for example), then a PIS permission letter needs to be sought from RBI (through HDFC Bank). Once approved, your PIS account moves to HDFC Bank. In recent years, RBI has permitted non-PIS account to be opened by NRIs on non-repatriation basis (i.e. you cannot transfer the funds to overseas country)
Hi @rajsuccess thank you for the input.
I am specifically interested to know, can I use my PIS account of ICICI to create a trading account with Upstox and trade in both ICICI demat account plus Upstox account simultaneously?
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I do not think icici bank will allow that. You can ask them just to be sure. With their own broker (icici securities) they most likely not have this arrangement with Zerodha or other brokers.
If you intent is not to repatriate funds abroad, you can choose to have non PIS account with Zerodha with whichever bank account (NRO) they recommend.
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Recently ICICI Direct has come up with many features- one click equity, small case type portfolios, premium portfolio. Seems ICICI Direct wants to keep up with Zerodha and other disruptive discount broker platforms. Anyway, the 3-in-1 feature has always been the strength.
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Which is the best broker for sip in stocks. I have chosen HDFC Sec linked with HDFC Bank.
Go for any discount broker like upstox, zero dha or 5 paisa etc , your cost of operation will be minimum
Which broker offers margin for delivery at minimum interest cost? Does anyone offer at less than 10%?
Most are charging 18% p.a. (angel, motilal, 5paisa etc.). Interactive brokers is offering margin at 12.7%. This is the lowest I found while searching.
Please share if you know any broker who provides margin for equity delivery at low interest rates (I donāt do day trading. Only swing and position trades. Hence interested in only margin for delivery)
I believe, Icici has a product called e-margin. That gives 9% interest against collateral. So, does Hdfc securities, Axis and Kotak securities.
Zerodha charges 10%
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Thanks. I think Zerodha asks you to pledge shares to get margin? Also I was told this margin can be used in fno but not to buy more stocksā¦ Here is the policy:
āNSE/BSE Equity: Zerodha has a policy of giving up to 20 times exposure on a broad spectrum of stocks; no margin is given for delivery trades. The client needs to have enough money in his trading account to take delivery of shares failing which Zerodha can cut the position. Comprehensive real-time margins at Zerodha can be viewed here.ā
Link - Policies and Procedures ā Zerodha
I want margin normally without the hassle of pledging ideally.
Pledging of shares will be required for bothā¦
FnO margin
And for E-margin
Read this. Itās offered by Axis Bank. They charge 18% interest.
Interactive broker seems best from what I can find. 12.7% margin rate and no pledging required. Does anyone have a better option?
I am experiencing an Issue with Upstox. I request experienced investors to guide me what is the best course of action in this issue.
Basically, Upstox sold my trident positions I took on October 1st , on October 5th. Explanation is , there was a delivery failure and cut off was initiated. This is understandable. But problem starts about the money credited back to account.
Although there was a cutoff , they credited me with the amount equivalent to the days close price(32.35) in my account. I came to know that in these situations ,As per NSE rules the amount should be equivalent to 20% higher than the closing price which should be debited from defaulters account.
When I contacted Upstox, they are denying this rule and says upstox does not involve in close out and sent me a NSE link which ironically states what I am expecting(20pc). When I asked about why they are not following NSE rules, they are not responding much and asking me to contact exchange.
NSE rule regarding cutoff (https://www1.nseindia.com/products/content/equities/equities/exceptnl_situations.htm)
Reply from Upstox:
Reply again when I asked specifically quoting 20pc rule( They keep sending same link which explains the 20pc rule, but not acknowledging it. )
Contract Note Indicating the Sell Price:
What do you think about this? expecting right suggestions and if anyone had similar experience with upstox or any new age brokers,let me know.
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This is perfect and as per sebi and exchange rules. Their is nothing wrong doing . If no one tendered shares in auction then position is squared off at 20% higher as per exchange and amount is credited or debited as the respective seller and buyer
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My issue is upstox denying the 20pc rule if My post was not clear
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