Achiievers Equities

[a1b1trader]

Please clarify,
1. KYC form is required by you in single or duplicate.
2. Whether the KYC of the client done by CDSL ventures Ltd (initially for MF) (done in oct 11) will suffice or one has to fill new KYC
Thanks

 

[soft_trader]

One thing I should let you know is that, I bought few shares over last week. I noticed that even several days after T+2 shares not getting credited into my Demat account. They still remains in their pool account. Called them up, they told that as they are providing margins against those shares that's the reason they keeps my shares in their pool account. They also told that on quarterly settlement they will credit those shares into my Demat account.

I am really not convinced with their words. Anyway I will remain cautious and will not increase my holdings with them. I will use Achiievers mainly for trading purpose only.

 

[sunny_ndl]

Hello Soft trader, you did a better job by sharing this fact. Actually after T+2 days shares automatically credit into our DMAT account. I never heard the practice of holding stocks with the broker for purpose of collateral or margin on shares. Any how , iam eager to hear the reason from Achiievers management in this forum. By the way , how much your trading account with Achiievers.
You please respond.

 

[soft_trader]

Hello Soft trader, you did a better job by sharing this fact. Actually after T+2 days shares automatically credit into our DMAT account. I never heard the practice of holding stocks with the broker for purpose of collateral or margin on shares. Any how , iam eager to hear the reason from Achiievers management in this forum. By the way , how much your trading account with Achiievers.
You please respond.

The brokers such as Sharekhan, Ibulls, Motilal oswal, IIFL of which I have personal experience of trading all credits the shares directly to my Demat account. But achiievers is keeping it with them as it seems like it is their property. What I am unable to understand is, as POA is given to achiievers for my Demat account, then why can't they credit the shares to my Demat? Achiievers management better clarify on this.

As I am new to achiievers, roughly I am trading with 1/3rd of my total trading capital with them.

 

[strongBuddy]

The brokers such as Sharekhan, Ibulls, Motilal oswal, IIFL of which I have personal experience of trading all credits the shares directly to my Demat account. But achiievers is keeping it with them as it seems like it is their property. What I am unable to understand is, as POA is given to achiievers for my Demat account, then why can't they credit the shares to my Demat? Achiievers management better clarify on this.

As I am new to achiievers, roughly I am trading with 1/3rd of my total trading capital with them.

I think this is also the case with RKSV. In their FormA in the first page they require us to fill some optional documents. If you go over to page 10 in their form they have sentences like this:

"/I hereby further authorize you to debit / credit / transfer the amounts between the various segments either on the same Exchange and / or Exchanges to meet my/our obligation or various dues payable to you / Exchange(s). If payment of funds is required, I shall request you in writing or through the web option for funds withdrawal on the
web login. Further it may be noted that if required I may revoke this authorization at any time after giving request in writing.
This running account authorization would continue until it is revoked by me. The actual settlement of funds shall be done at least once in the preference period selected below:
.QUARTERLY .MONTHLY"/

should we give them these optional rights?. is there any reason?. because of these reasons only i am hesitating to open a trading cum demat account with them. could any experienced person clarify?. Please.

 

[Creep]

softtrader, firstly when I posted the online complaint their company rep just ignored it, which is wrong and now if they are following this practise it is the worst..

If you have 1lk of stocks and it is with them, it is as good as theirs.. They would be using 70000 from your 1lk of stocks and probably using that money to lend others at 18%18-24% per annum.. Because they also have this limited offer crap going, they might be in a spot of bother and using the scheme to get some liquidity into their system..

Call me a pessimist , but I'd rather be that than be sorry..

 

[amyeole]

I have recently opened trading a\c with zerodha and my demat with IL&FS is under processing..
My problem is how to login in www.nowonline.in
Which is member id & which is user id?

Pl help

 

[achiievers]

As per NSE press release transaction costs are going to be reduced from Oct 01, 2012. Today is 15th Oct, but no update from any broker on reduction of charges. I think none of the brokers are really passing on the benefits to us.

So far my experience with Achiievers is excellent. Please try to let us know of your experience with them once your account gets activated.

No communication from NSE to any of the Brokers till date.

But i just have a feeling that NSE would be forced to bring down their transactions costs, particularly in options segment as BSE and MCX_SX will be giving them a tough fight going forward.

Will keep you posted as and when informations are available to us.

 

[achiievers]

Please clarify,
1. KYC form is required by you in single or duplicate.
2. Whether the KYC of the client done by CDSL ventures Ltd (initially for MF) (done in oct 11) will suffice or one has to fill new KYC
Thanks

KYC Form is required in single and not in duplicate.

Need to fill in new KRA form for opening a/c . the CVL for mf does not have certain details which gets uploaded once you register for KRA. once KRA is done, you need not complete the KYC process in future with any of the brokers in future. Its a one time exercise.

 

[achiievers]

One thing I should let you know is that, I bought few shares over last week. I noticed that even several days after T+2 shares not getting credited into my Demat account. They still remains in their pool account. Called them up, they told that as they are providing margins against those shares that's the reason they keeps my shares in their pool account. They also told that on quarterly settlement they will credit those shares into my Demat account.

I am really not convinced with their words. Anyway I will remain cautious and will not increase my holdings with them. I will use Achiievers mainly for trading purpose only.

Dear Soft trader,
Firstly, we cannot keep any stock in our pool a/c for a period more than 24 hours. Within 24 hours the stock has to be transferred to either client's demat a/c or Achiievers Margin a/c account. In case where the client needs margin against share, the stocks has to be with our margin a/c else we will not be able to provide margin. this is because, if we provide margin against stocks lying in the client's Demat and at the same time the client issues any trasfer order from achiievers to any other broking house, we shall be bound to release the stocks and the entire margin provided to the client becomes naked for us.

I am sure that you would appreciate that the above idea is not prudent enough to run a business in the long term.

However, if you are not requiring any margin against stocks, your entire stocks would be transfered to your demat without any delay.

Hope this clarifies. Thanks a lot for your support all throughout.