Achiievers Equities

[achiievers]

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.

These are absolutely basic agreement terms of starting the trading with any of the broker. The broker has to keep enough safety to recover their money if at all lended to you to trade with higher exposures. It is all about the intention of the trader/investor. If he is ethical the brokers are never into practice of ruining their own business relationship. But certainly not at the cost of capital.

 

[achiievers]

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..

Ahh... time for some brush up on our general knowledge. firstly, all brokers need to send daily reporting of stocks held in their margin a/c on behalf of the clients both to the exchanges and sebi with individual client breakups. so if you have 1 lk of shares with us, then the exchange and the sebi is aware of the exact details of the same on a daily basis. any deviation identified in the external audit, takes my broking licence and the business unit worth several crores for a toss. No wise businessman is interested in doing it I guess.

Hence I have got no clue how to get Rs 70000/- liquidated from your stocks and also lend to the market @ 18 to 24% interest p.a. Hats off to you Sir, for such a wonderful business plan. But in India its currently not possible.

Our business volumes are comparable with the leading broking houses of India which you may also verify from your end. This calls for the fact that as an organisation we have to have huge liquidity with the exchanges to execute such huge volumes. The current deposit maintained by us with exchanges are several hundred crores and I am sure it does not require a 70000/- unauthorised money to run the show.

The mega plan took us almost 3 months for us to design to give the best to the current trading industry and it took you just a second to call it a crap. I suggest you to first use it and feel whether its a crap or something better.

Being pessimist is a virtue but we must keep our window of experimenting open though with a pessimist view.

welcome to our family in anticipation. thanks.

 

[Creep]

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.

acccchiiiiiiievers (oops I just sneezed)... ..

There were 2 things I asked, which you carefully evaded..

1. http://www.complaints-india.com/complaints/48649/Loss-of-Invested-Money-with-Share-broking-firm.html

2. A client buy's stocks and you don't deliver it to the client's demat thinking he might ask for a margin?? Are you from planet mars?? What do you do when the stock is sitting in the pool account of yours??
As you rightly said, stocks have to be sent within 24 hours to client's demat or margin a/c, and you very smartly move it to your margin account, without even anyone authorizing you?? Boss this is an online world and most of us are educated.. Also remember, what you write here cannot be deleted... You can delete your post, but not this one I am writing with your quote...
Imagine we send this post of your's to SEBI and ask them if it is the right thing you are doing?? It is like we go to a bank and give money to the cashier to deposit it into your account and the cashier puts it into some other account and then gives a reason, if you wanted loan it would be easier this way... (don't worry I am not going to, you might go delete your previous post after reading this )

Your client in your dreams, a company that can't even get its spelling right, I wouldnt even buy my toothbrush through them and over that the senior management person doesn't have the balls to accept if something is wrong..

Best of luck with ur business or I guess you don't need it because you are amongst the top brokers in the country.. acccchiiiieeeeeeeeee(sorry sneezed again)...waiting for your reply...

 

[Arjun20]

Ahh... time for some brush up on our general knowledge. firstly, all brokers need to send daily reporting of stocks held in their margin a/c on behalf of the clients both to the exchanges and sebi with individual client breakups. so if you have 1 lk of shares with us, then the exchange and the sebi is aware of the exact details of the same on a daily basis. any deviation identified in the external audit, takes my broking licence and the business unit worth several crores for a toss. No wise businessman is interested in doing it I guess.

Hence I have got no clue how to get Rs 70000/- liquidated from your stocks and also lend to the market @ 18 to 24% interest p.a. Hats off to you Sir, for such a wonderful business plan. But in India its currently not possible.

Our business volumes are comparable with the leading broking houses of India which you may also verify from your end. This calls for the fact that as an organisation we have to have huge liquidity with the exchanges to execute such huge volumes. The current deposit maintained by us with exchanges are several hundred crores and I am sure it does not require a 70000/- unauthorised money to run the show.

The mega plan took us almost 3 months for us to design to give the best to the current trading industry and it took you just a second to call it a crap. I suggest you to first use it and feel whether its a crap or something better.

Being pessimist is a virtue but we must keep our window of experimenting open though with a pessimist view.

welcome to our family in anticipation. thanks.

Can you please share how we can check trading volumes or number of clients/accounts of any broker ?

 

[soft_trader]

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.

I can't agree with you achiievers, I got your point that if I happen to provide a transfer order you will be in trouble. But how all other brokers providing that.

Say I have 1lakh worth of share. You are giving me 70K as margin. Now say I have 2 open Nifty fut position. So whenever I give you a transfer order you will simply square off my open position in my account and then transfer the shares to another broker. This is the actual way, and every broker is following this path. You have the POA from me and has the power to debit shares from my Demat account whenever any I have obligation due to you.

If you are not crediting shares in my Demat then what is the purpose to open a Demat account and paying Rs. 400/- AMC for that?

I am buying shares with my money and I have every right on those shares, and those shares must remain in my Demat. Hope you get my point.

I am not pledging shares with you, then why still you are not crediting shares to my Demat?

 

[sunny_ndl]

Hello soft trader,
You are very well cornering ACHIIEVERS. I really appreciate you.
Let us see how the achiievers answer.
Hello soft trader, you are the torch bearer. Continue the pursuit for the followers .
Wish you all the best. Do you advise any one to trade F&O and Intraday equity with out delivery of stocks. I hope you got my point. please respond

 

[strongBuddy]

acccchiiiiiiievers (oops I just sneezed)... ..

There were 2 things I asked, which you carefully evaded..

1. http://www.complaints-india.com/complaints/48649/Loss-of-Invested-Money-with-Share-broking-firm.html

2. A client buy's stocks and you don't deliver it to the client's demat thinking he might ask for a margin?? Are you from planet mars?? What do you do when the stock is sitting in the pool account of yours??
As you rightly said, stocks have to be sent within 24 hours to client's demat or margin a/c, and you very smartly move it to your margin account, without even anyone authorizing you?? Boss this is an online world and most of us are educated.. Also remember, what you write here cannot be deleted... You can delete your post, but not this one I am writing with your quote...
Imagine we send this post of your's to SEBI and ask them if it is the right thing you are doing?? It is like we go to a bank and give money to the cashier to deposit it into your account and the cashier puts it into some other account and then gives a reason, if you wanted loan it would be easier this way... (don't worry I am not going to, you might go delete your previous post after reading this )

Your client in your dreams, a company that can't even get its spelling right, I wouldnt even buy my toothbrush through them and over that the senior management person doesn't have the balls to accept if something is wrong..

Best of luck with ur business or I guess you don't need it because you are amongst the top brokers in the country.. acccchiiiieeeeeeeeee(sorry sneezed again)...waiting for your reply...

tooth brush is a very important one man....

 

[soft_trader]

Hello soft trader,
You are very well cornering ACHIIEVERS. I really appreciate you.
Let us see how the achiievers answer.
Hello soft trader, you are the torch bearer. Continue the pursuit for the followers .
Wish you all the best. Do you advise any one to trade F&O and Intraday equity with out delivery of stocks. I hope you got my point. please respond

Thanks for that.

Well in my personal opinion I will definitely recommend Achiievers to any traders who want to trade only in F&O. No hidden charges. Everything is good.

But for Demat holdings, right now I will not recommend, because I am sensing something fishy.

 

[sunny_ndl]

Hello soft trader, Thanks for the reply. You please inform me that, how much margin is required to sell Nifty options. For intraday Option selling how much we need to have in trading account with Achiievers.
By this week end , my account will be opened. The verification process also completed. Pl guide me, how much we should have to shorting intraday index options.
Wish you happy trading

 

[My investmentz]

They might be lending your stock on SLB formula or might be doing reverse cash and carry
might me proving it to short sellers to save them from a auctions Ect Ect every broker does everything incuding your other fav @Creep no one is 100 % dhudh ka dhula

In the end its all about your trust and you luck i have seen people loose money with the best and biggest brokers and i have seen one small time broker in delhi with just one office 20 years in business and not even one compliant