Achiievers Equities

[balab]

Re: Achiievers Equities Ltd

Yes this is true.
Also it is true that every other broker out there does NOT have this limitation. It cannot be possible that your RMS team found some deep secret which increases the risks based on higher per order limit. That is just nonsense and you are clearly hiding behind rules. All my other brokers (count all 6 of them) do not have this limitation. Your nearest competitor RKSV does not have this limitation.

Based on this I decided to stop trading with Achiievers. Basically it amounts to unlimited trading which is limited by per order limits. This limitation was not visible to me when I signed the contracts and paid 3 months advance subscription fees. Buyer beware.

Hi

Request you to please go through the following post posted by our clients http://www.traderji.com/brokers-trading-platforms/74228-achiievers-equities-84.html#post952560

Would also suggest to go through our RMS policy http://www.achiieversequitiesltd.com/Upload/Download/Risk Management Policy.pdf

It clearly states that "As a policy we have specified a single sauda limit, which is maximum 100000 in quantity terms which can be placed for trade and a maximum of Rs 20 lacs in order value terms across all clients registered with Achiievers Equities Ltd

Beyond that on client request we can further increase single sauda limit subject to availability of the margin."


We have enclosed URL of circular issued by NSE and article enclosed which will clear your queries on per order limit.

Further RMS is significantly related to Per Order Limit and correlated.

Higher Risk is involve when any one places a single order of 100 or 200 lots rather than multiple orders. That is the reason exchange has implemented Per Order Limit forcibly on us.

Even software also takes time to indentify MTM or Extreme Loss position in case of single big order, which can expose us and our clients to out of pocket situation. In our case chances will be more as we are giving 2 to 3 times for Intraday limits or exposure.


http://www.nseindia.com/content/circulars/COMP21992.pdf
http://www.nseindia.com/content/circulars/COMP21991.pdf
http://www.nseindia.com/content/circulars/COMP21990.pdf
http://www.thehindubusinessline.com...ly-follow-conformity-norms/article4027915.ece
http://www.business-standard.com/ar...more-steps-in-derivatives-112102400127_1.html

Further I think you have sent a mail on the same to increase your limit to 40 lacs per order limit...and our Customer Care team have reverted the details and ask for final confirmation for increase of yours per order limit to 50 lacs (10 lacs more than what you have asked) but we haven’t received any confirmation but you have again requested to increase the same further.

Hope am clear and request to please reveal the actual conversation in the forum when you are raising any queries or else its confuses.

Hope am able to clarify the entire issue.

Happy Trading !!!

 

[balab]

This says it all... from their RMS policy sheet:

As*per*our*RMS*policy*any*single*order*valuation*should*not*exceed*Rs.*20,00,000/ Rupees*Twenty*Lacs*Only)*irrespective*of*equity,*equity*derivative*and*currency
derivative*segment.*

Open query to all - which other broker has such a policy. None. Its a way to limit the unlimited trading, that's it.

 

[achiievers]

Re: Achiievers Equities Ltd

This is really very interesting. Thanks.

Regards.

PS: Do you give these Calls to all your clients or for this clients have to subscribe separately ?

Hi,

We do provide these calls to all our clients through flashing live on dealing terminals and you can also follow live to our twitter handle @InfoAchiievers to get it.

Further to get the same in your mobile you have to subscribe it with a nominal fees charged monthly,for details please click the url

http://www.achiieversequitiesltd.com/Static/Step_by_Step_Guide_SMS_Alert.pdf


Happy Trading !!!

 

[achiievers]

Re: Achiievers Equities Ltd

Yes this is true.
Also it is true that every other broker out there does NOT have this limitation. It cannot be possible that your RMS team found some deep secret which increases the risks based on higher per order limit. That is just nonsense and you are clearly hiding behind rules. All my other brokers (count all 6 of them) do not have this limitation. Your nearest competitor RKSV does not have this limitation.

Based on this I decided to stop trading with Achiievers. Basically it amounts to unlimited trading which is limited by per order limits. This limitation was not visible to me when I signed the contracts and paid 3 months advance subscription fees. Buyer beware.

@balab...Thanks for acknowledging....

Just to remind you that in your mail when we provided the circular you have acknowledged that all the brokers are having Single Order Limit and specifically mentioned one brokers name… may be they have more than us or less then us that is another matter… but you have accepted which you were reluctant earlier till the time you haven’t got the circular.

They why you are again telling that no brokers have any such limits, this is confusing ?

This is forced to us by SEBI and Exchanges...its beyond our control and before that there was no such Surveillance...and believe me this has been done by SEBI for retail investors only to safeguard from a any such freak or erroneous order.

Further need to know few things from you.

1 Do we have limited you from trading for any turnover or volume.

2 Is there any bindings on TO or Volume for the day.

3 Have you able to place 2nd order once you place the Single Order of Maximum Limit.

4 Do you were able to place multiple order for the Maximum Order Limit.

Then where do we have not provided the unlimited trading ?

Further if you have any queries feel free to call our customer care desk or write to us…we will be happy to serve you.



Happy Trading !!!

 

[ram2010]

This says it all... from their RMS policy sheet:

As*per*our*RMS*policy*any*single*order*valuation*should*not*exceed*Rs.*20,00,000/ Rupees*Twenty*Lacs*Only)*irrespective*of*equity,*equity*derivative*and*currency
derivative*segment.*

Open query to all - which other broker has such a policy. None. Its a way to limit the unlimited trading, that's it.

There is a difference between unlimited trading per month

and limit per trade.

why do you confuse with each other.

you can do any no. of trades per month.

 

[a1b1trader]

@ Achiievers
What procedure one should follow if he does not want refund of funds due to quarterly settlement and what is the upper limit for this compulsory refund.
Thanks

Please answer to this query.

By upper limit, I mean the amount above which, you have to go for compulsory refund, say it is 1K, 5K, 10K, 25K or 50K like that.

As, because of this rule, I had to suffer on 1.4.14, as I had no balance in my trading account and it was a bank holiday, so I was unable to transfer any amount to my trading account. Though when I checked sometime at 2 pm, the amount was there, but it was too late by then.

Thanks

 

[achiievers]

Re: Achiievers Equities Ltd

Please answer to this query.

By upper limit, I mean the amount above which, you have to go for compulsory refund, say it is 1K, 5K, 10K, 25K or 50K like that.

As, because of this rule, I had to suffer on 1.4.14, as I had no balance in my trading account and it was a bank holiday, so I was unable to transfer any amount to my trading account. Though when I checked sometime at 2 pm, the amount was there, but it was too late by then.

Thanks

Currently it is 10000....earlier there was no limit if anyone has 1 rupees also has to be refunded.

We have raised our concerned and represented our and client views through our Associaition ANMI And BSE Broker's Forum to SEBI, to make it annually or on clients sole discretion if he or she want to be take the facility of running account settlement Monthly/Quarterly/Annually or not at all.

Happy Trading !!!

 

[Trade_Like_A_Tiger]

This says it all... from their RMS policy sheet:

As*per*our*RMS*policy*any*single*order*valuation*should*not*exceed*Rs.*20,00,000/ Rupees*Twenty*Lacs*Only)*irrespective*of*equity,*equity*derivative*and*currency
derivative*segment.*

Open query to all - which other broker has such a policy. None. Its a way to limit the unlimited trading, that's it.

I trade with Destimoney apart from Achiievers for more then 1 year and they also have Single Order Limit http://www.destimoney.com/PDF/RMSPolicy_Equity.pdf

 

[achiievers]

Re: Achiievers Equities Ltd

Pick Of the Week 07.04.2014​

Scrip-SSLT
CMP-193
Target-215-235
Stop Loss-175
Recommendation-Buy Above 194

SSLT- stock has broken out of the multi month falling trend line ( by connecting high of April 2010 and feb 2012), and stock is consolidating above its break out zone forming a immediate support at 175-174 levels.


Scrip-COALINDIA
CMP-282
Target-305-325
Stop Loss-264
Recommendation-Buy Above 284

COALINDIA- coalindia is moving in sideways trend from july 2013 , and recently crossed its 200 DMA with very high volumes which is a very bullish signal.


Happy Trading !!![/QUOTE]

 

[achiievers]

Re: Achiievers Equities Ltd

Pick Of the Week 11.04.2014​

Scrip-MMTC
CMP-64
Target-72-80
Stop Loss-56
Recommendation-Buy Above 65

MMTC- MMTC- stock is in side ways trend after falling from 300 levels and conolidaing in the range of 62-50 has broken its nine month resistance and look positive in current scenario.


Scrip-APTECH
CMP-76
Target-87-96
Stop Loss-68
Recommendation-Buy Above 77

APTECH- stock has broken out of the multi month falling trend line ( by connecting high of Sep 2009 and August 2011), and stock is consolidating above its break out zone forming a immediate support at 70-71 levels.



Happy Trading !!!