Achiievers Equities

[achiievers]

being client of achieved equity Pvt ltd the main disadvantage of Achievers equity ltd is its complicated backoffice and contract notes. you cant see report before 1 st april 2013. trade are not fully discribed. Achievers should have a web based terminal because when odin not working client need to watch his position rest all other things are excellent. you guys rocks. you guy are hope for those trader whose profit are eaten by brokerage. best wishes from side. ho sake to apna naam chota kar lo kafi. lambs hai

Thanks a lot Sir. Nam chota nehi ho payega abhi Sir. Thora accomodate kar lijiye.

All reports can be seen from your back office for all relevant financial year. you need to select the FY you need to see from the drop down list before clicking "LOGIN". Incase you need any help, please let know so that we may get back in touch with you and resolve the same.

Thanks again.

 

[bharath.mang]

Dear All,
With all regards to the overwhelming response and support received in our Mega Value Plan for 3/6/12 months, there has been some addition of some more plans to Mega Value Plan. In addition to the existing plans, MVP will now be available on 5 years , 10 years and 15 years term also. The commercials are as follows :

PRODUCT SCHEME 5 YEARS 10 YEARS 15 YEARS
MVP LIFE TIME COMMODITIES 39999 69999 100499
MVP LIFE TIME EQUITIES 19999 34999 49999
MVP LIFE TIME CURRENCIES 59999 104999 150749


Please note that applicable service tax and account opening charge of Rs 750/- would be added to the above amounts.

All our existing MVP clients can apply for these plans if required. Please feel free to drop all your queries to [email protected]

Looking forward to all your support in helping us grow bigger and better each day.

Regards
Team Achiievers.

My friend works as compliance manager in Angel, he had pulled me recently to this seminar held by NSE, I forgot the name of the lady who took the meet.. It was basically compliance people from various broking companies and she telling the best practices.

One of the things she was very categoric about and also given out a warning was about the upfront brokerage schemes, especially like the ones you have put up here.. 30k, 40k, 50k , 60k, 1lk, 1.5lk...The basic idea being milk the cow as fast as possible... .. Angel has stopped all such schemes now because they were issued a warning...
I am very surprised because I had attended this meeting only 2 weeks back and you have already announced a plan like this. Have you gotten approval from NSE for this??

 

[achiievers]

My friend works as compliance manager in Angel, he had pulled me recently to this seminar held by NSE, I forgot the name of the lady who took the meet.. It was basically compliance people from various broking companies and she telling the best practices.

One of the things she was very categoric about and also given out a warning was about the upfront brokerage schemes, especially like the ones you have put up here.. 30k, 40k, 50k , 60k, 1lk, 1.5lk...The basic idea being milk the cow as fast as possible... .. Angel has stopped all such schemes now because they were issued a warning...
I am very surprised because I had attended this meeting only 2 weeks back and you have already announced a plan like this. Have you gotten approval from NSE for this??

Dear Bharat ,
Thanks to you that you have brought up this point. Me or my colleagues from the compliance department are generally present in almost all these meets conducted by the exchanges. We are completely aware of what the exchanges are NOT ALLOWING to practice.

Just to bring some clarity, our Mega Value Plan is not an upfront / advance brokerage plan. It is an amount which we take from the clients to facilitate zero brokerage in all their trades. As a broker, we have limitations on the higher side of applying brokerage to our clients but no on the lower side. As such we have decided to charge zero brokerage to our mega value clients.
Whereas, the advance brokerage schemes take a lumpsum brokerage from the client and levy a rate of say 2p/20 or 1p/10p brokerage slab which gets adjusted from the prepaid amount paid by the client.

Our MVP is not part of the "Milking the cow as fast as possible " , rather it helps the cow retain most of the milk for its own use and benefit. Hope it clarifies. If you read through the past threads posted by our clients in this platforms, you will possible appreciate that we have come forward with a business plan where it is a winning situation for the clients.

Thanks again.

 

[bharath.mang]

Dear Bharat ,
Thanks to you that you have brought up this point. Me or my colleagues from the compliance department are generally present in almost all these meets conducted by the exchanges. We are completely aware of what the exchanges are NOT ALLOWING to practice.

Just to bring some clarity, our Mega Value Plan is not an upfront / advance brokerage plan. It is an amount which we take from the clients to facilitate zero brokerage in all their trades. As a broker, we have limitations on the higher side of applying brokerage to our clients but no on the lower side. As such we have decided to charge zero brokerage to our mega value clients.
Whereas, the advance brokerage schemes take a lumpsum brokerage from the client and levy a rate of say 2p/20 or 1p/10p brokerage slab which gets adjusted from the prepaid amount paid by the client.

Our MVP is not part of the "Milking the cow as fast as possible " , rather it helps the cow retain most of the milk for its own use and benefit. Hope it clarifies. If you read through the past threads posted by our clients in this platforms, you will possible appreciate that we have come forward with a business plan where it is a winning situation for the clients.

Thanks again.

hmmm.. are u trying to pull a fast one on me??

U take the money before we trade and yes you don't charge us after that.... So is this not an upfront brokerage??

what you are saying is like, when recently I was pulled over by a cop in the night, I said I didn't drink, but I just a couple of pegs...

Since I was part of a compliance meet, I can tell you very firmly that the lady told that no money should be taken upfront, because if you take it becomes upfront brokerage, you charge zero brokerage or whatever..

I paid Rs 50000 to you and did 1 trade and stopped trading, will you refund me the brokerage? if you are not refunding, it is milking cow but by telling the world that you are milking a donkey... ..

 

[soft_trader]

hmmm.. are u trying to pull a fast one on me??

U take the money before we trade and yes you don't charge us after that.... So is this not an upfront brokerage??

what you are saying is like, when recently I was pulled over by a cop in the night, I said I didn't drink, but I just a couple of pegs...

Since I was part of a compliance meet, I can tell you very firmly that the lady told that no money should be taken upfront, because if you take it becomes upfront brokerage, you charge zero brokerage or whatever..

I paid Rs 50000 to you and did 1 trade and stopped trading, will you refund me the brokerage? if you are not refunding, it is milking cow but by telling the world that you are milking a donkey... ..

It is an advanced brokerage plan, no doubt about that. But the difference between MVP and traditional brokers advanced brokerage is that, Traditional brokers charge advance brokerage just to charge lower brokerage rate and achiievers/RKSV is charging a fixed brokerage for unlimited trading.

Just tell me one thing, suppose you are using unlimited internet service from an ISP. But if you use it just for 1 day or if you never use internet once in a month, will you ask your ISP to refund your money or demand a reversal of rental for that month?

 

[bharath.mang]

It is an advanced brokerage plan, no doubt about that. But the difference between MVP and traditional brokers advanced brokerage is that, Traditional brokers charge advance brokerage just to charge lower brokerage rate and achiievers/RKSV is charging a fixed brokerage for unlimited trading.

Just tell me one thing, suppose you are using unlimited internet service from an ISP. But if you use it just for 1 day or if you never use internet once in a month, will you ask your ISP to refund your money or demand a reversal of rental for that month?

You are comparing apple and oranges..

I guess you have some kind of marketing deal with these guys, there is no issues if you have, but we can't let people mislead.

If you collect brokerage upfront it is called upfront brokerage and in this business if someone does it, the idea is to milk the cow as fast as possible. IN an ISP plan you typically will 90% of the time use ur internet but in markets 90% of the people won't end up using the brokerage..

I am not referring to their monthly or RKSV monthly , they are pretty good deals.. What I was pointing out is them charging 50k, 60k, 80k, 100k as brokerage upfront and especially when I was sitting in a meeting where the compliance head from NSE had warned brokers not to do so. So my query was, if they are doing have they taken approvals from the exchange or not, because as I know all such things have to be taken permissions from the exchange...

I am not their client, but those who are opting for such plans, make sure you shoot an email to NSE and check if there is an approval for such a scheme, you don't want to pay so much and then realize otherwise...

 

[soft_trader]

You are comparing apple and oranges..

I guess you have some kind of marketing deal with these guys, there is no issues if you have, but we can't let people mislead.

First of all, I don't have any deal with Achiievers. Several people from TJ personally know me. I am very much frank in my views and if you look into previous post of this thread you would see that I had also several times pointed about the negatives of Achiievers.

If you collect brokerage upfront it is called upfront brokerage and in this business if someone does it, the idea is to milk the cow as fast as possible. IN an ISP plan you typically will 90% of the time use ur internet but in markets 90% of the people won't end up using the brokerage..

You are saying in an ISP people typically tend to use 90% of the internet. That may not be true also. What if you go for a vacation?
Advance brokerages has its own purpose, and it is for extremely active traders only, other wise there are Rs. 5/- GPRS pack available for occasional users. Isn't it?
Traders who are subscribing to advance brokerage are well aware of their use and their purpose. If a trader trades once a month and subscribes to unlimited plan, it is clearly his fault, because he has voluntarily subscribed for it.

I am not referring to their monthly or RKSV monthly , they are pretty good deals.. What I was pointing out is them charging 50k, 60k, 80k, 100k as brokerage upfront and especially when I was sitting in a meeting where the compliance head from NSE had warned brokers not to do so. So my query was, if they are doing have they taken approvals from the exchange or not, because as I know all such things have to be taken permissions from the exchange...

You have a point, but neither NSE nor SEBI has restricted brokers from offering those long validity packages. Some telecom operators are also offering 1 year broadband plans, but do users need to mail TRAI to inquire about the legality of it? NSE has never asked brokers that before offering long validity packs they had to get a permission. So from where is the question of sending mails to NSE coming from

I am not their client, but those who are opting for such plans, make sure you shoot an email to NSE and check if there is an approval for such a scheme, you don't want to pay so much and then realize otherwise...

Long validity plans are there, for users who need them. I am comfortable in subscribing for 3/6 months maximum so I will subscribe to them. There are several types of recipes, and people will eat the food which they like to.

 

[bharath.mang]

QUOTE]

soft, if we both get into a discussion on who is right and not, we will waste time here..

You are talking about their monthly plans and I am not talking about. Do you know any ISP who charges you Rs 2lks for lifetime validity?? If someone started charging, you think they can collect that just like that without any prior regulatory approvals??

Even for mobile, we have number portability so that we are not stuck to one provider because we have a number.. Imagine paying that kind of money, you are basically stuck for ever..

This is what achieevers quoted: Dear Bharat ,
Thanks to you that you have brought up this point. Me or my colleagues from the compliance department are generally present in almost all these meets conducted by the exchanges. We are completely aware of what the exchanges are NOT ALLOWING to practice.

So it is not me saying, they are saying that exchanges don't allow charging a certain kind of fees, which is upfront brokerage and I am not talking 500 bucks monthly or someone charging 2000 monthly, which makes no difference to anyone.. But paying a lakh rupees etc, it is basically milking the cow, especially when the regulators have advised not to..

Let them come back and say that they have prior exchange approvals to run this marketing campaign and I will rest my case, if they don't then you know... Why exchange approvals, unlike an ISP, your hard earned money is sitting with your broker and you don't want to be with someone who is going against the rules, a broker breaking rules is not good for business and for all of you who think your money is safe with the broker whatever kinds he is, your are in a delusionary world.. Be it a big reputed broker or a small guy who is just starting off, you will know when the business is trying to cut corners to make money, stay away from them..

I rest my case soft, it is every man for himself, but will be very interested to know what achieevers have to say about this...

 

[timepass]

Bharath, Sharekhan also has brokerage plans which depend on how much you pay in advance. But they refund the amount to you when the plan starts, and the brokerage is charged on your trades. Will this also amount to "advance brokerage" ??

BTW, I had made enquiries of Bezel a few months ago, but didn't open an account with them. I had forgotten about it till some time ago I received a mail from them saying that they will allow me Rs. 7 per lot in F&O and not charge any advance brokerage. "Only for you, for a limited time", they wrote . I guess that must have been a fall out of that NSE meeting.

Now, if some brokers are allowed 1 month unlimited plans, I don't see how 3/6/12/24/36/60 month unlimited plans can not be allowed.

Achiievers, please confirm that everything is up and up and that you have the necessary regulatory permissions for your brokerage plans.

QUOTE]

soft, if we both get into a discussion on who is right and not, we will waste time here..

You are talking about their monthly plans and I am not talking about. Do you know any ISP who charges you Rs 2lks for lifetime validity?? If someone started charging, you think they can collect that just like that without any prior regulatory approvals??

Even for mobile, we have number portability so that we are not stuck to one provider because we have a number.. Imagine paying that kind of money, you are basically stuck for ever..

This is what achieevers quoted: Dear Bharat ,
Thanks to you that you have brought up this point. Me or my colleagues from the compliance department are generally present in almost all these meets conducted by the exchanges. We are completely aware of what the exchanges are NOT ALLOWING to practice.

So it is not me saying, they are saying that exchanges don't allow charging a certain kind of fees, which is upfront brokerage and I am not talking 500 bucks monthly or someone charging 2000 monthly, which makes no difference to anyone.. But paying a lakh rupees etc, it is basically milking the cow, especially when the regulators have advised not to..

Let them come back and say that they have prior exchange approvals to run this marketing campaign and I will rest my case, if they don't then you know... Why exchange approvals, unlike an ISP, your hard earned money is sitting with your broker and you don't want to be with someone who is going against the rules, a broker breaking rules is not good for business and for all of you who think your money is safe with the broker whatever kinds he is, your are in a delusionary world.. Be it a big reputed broker or a small guy who is just starting off, you will know when the business is trying to cut corners to make money, stay away from them..

I rest my case soft, it is every man for himself, but will be very interested to know what achieevers have to say about this...

 

[soft_trader]

So it is not me saying, they are saying that exchanges don't allow charging a certain kind of fees, which is upfront brokerage and I am not talking 500 bucks monthly or someone charging 2000 monthly, which makes no difference to anyone.. But paying a lakh rupees etc, it is basically milking the cow, especially when the regulators have advised not to..

Let them come back and say that they have prior exchange approvals to run this marketing campaign and I will rest my case, if they don't then you know... Why exchange approvals, unlike an ISP, your hard earned money is sitting with your broker and you don't want to be with someone who is going against the rules, a broker breaking rules is not good for business and for all of you who think your money is safe with the broker whatever kinds he is, your are in a delusionary world.. Be it a big reputed broker or a small guy who is just starting off, you will know when the business is trying to cut corners to make money, stay away from them..

I rest my case soft, it is every man for himself, but will be very interested to know what achieevers have to say about this...

See bharat,

You are not understanding simple things. Just because the amount is one lakh does not makes it illegal. Why Exchange approval is required in one lakh plan and not required in low cost plan? It is like for one murder you are ok but for ten murder you need approval? The crime is the same i.e. murder.
Try to get the point that just because the plan cost's you more doesn't mean that it is illegal.

Anyway personally I don't think anyone is going to subscribe to those 3/5 years MVP plans. Instead I think it is wiser to subscribe to 3/6 months and use the rest of the money for trading. But plans are there, it is upto the user to use it or not. Some DTH companies also has 5 years plan, but do you need to subscribe to it? Is it a valid reason to complain TRAI that it is illegal to milk viewers with such long validity plans?