Yeah I gave a long list of questions to them For which I got the answers. I would share with you
1. Is it sufficient if I am a trading member for alpha membership to be able to do trading in F and O?
Ans: Yes
2. Other than deposit of 25 lacs for Fand O. Is there any other deposit for alpha in F and O?
Ans: No
3. Advanced transaction charges . Is it additional to 25 lacs deposit?
Ans : Yes. Annual 1 lac
4. Is BMC required other than 25 lacs deposit?
Ans: NO. 10 lac of 25 lac is blocked as BMC
5. Can the deposit of 25 lac be paid in form of FDR lien marked in favour of NSE, bank guarantees through NSE prescribed banks ?
Ans: Yes you can have FD and lien in favour of NSE. You would get the interest.
6. Can this deposit be utilised as margin in F and O?
Ans: Yes. 25- 10 lac for BMC. The rest 15 lac is available as margin for trading.
7. Once I get membership shall i be able to NOw platform for trading. Are there charges for using it?
Ans: Yes. Charges will be given to you from a different department. They will get in touch with you
8. Once I get membership other than taxes any other recurring costs for membership.
Ans: Taxes= 1 lac recurring annual. Nothing else
I want to be a alpha member to deal with following problems
a. High margins for Fand O. Span+ exposure by brokers.
b. Brokers are unwilling to collect margins in form of FDR bank guarantees as prescribed by NSE in INSP25612.
c. High brokerage.
9. In this context for trading for myself as a customer are there norms like clearing exams, compliance or any other norms.?
Ans: Yes you have to fullfill all compliances. Clear the exams