Indian Trading League / SAMCO

[simplebuthard]

Mailed yesterday to [email protected] regarding how to reedit online application which I already filled, no replies so far. I wonder if this is the case for Sales support then what could be expected for technical support queries later.

I didn't get reply from samco. but myself found what was the issue.

I actually went directly to samco.in website and filled up the form through the Open an acct link. That was the issue I wasn't able to reedit the forms.

What I actually should have done it, go straight into indiantradingleague.com website and filled the form. Today I did it and it said email already exists and logged in ITL website using the samco.in login and it already showed my filled form through picking from the samco.in database.

Happily edited the few errors which was due and also offered the coupon code for free acct. Actually this coupon completely makes free all opening fees even if you selected trading, demat plus commodities acct but I applied only for trading acct as I will be trading only FNO segment.

 

[Jai Mata Di]

If any one know wheather CO or BO is available with them and margin requirement with CO(5X?) and MIS(2X OR 2.5X), please share the info. Also last time of square of CO/MIS is important for us(later is better). Future margin for both Nifty and Bank Nifty is higher than Z. Lets see what is the margin for MIS. Z already giving 40%(2.5x) benifit.
Their email response is little slower....

Best Wishes & Happy Trading.
H.C.

 

[simplebuthard]

If any one know wheather CO or BO is available with them and margin requirement with CO(5X?) and MIS(2X OR 2.5X), please share the info. Also last time of square of CO/MIS is important for us(later is better). Future margin for both Nifty and Bank Nifty is higher than Z. Lets see what is the margin for MIS. Z already giving 40%(2.5x) benifit.
Their email response is little slower....

Best Wishes & Happy Trading.
H.C.

They have written detailed post in samco blog about their margin policies. BO is not available, it seems as there is no mention about that but CO available.

http://blog.samco.in/samco-margin-policies-and-limits/

 

[Jai Mata Di]

I found in their blog very interesting thing:-

More often than not, the margin levied in cover orders shall be [(Trade Price – Stop Loss Price) * Quantity].

Is that means, for a 30 point stop loss, CO margin is 30*25=Rs 750?
I think RMS have to consider the slippages. :lol:
Even it is Rs 500 (possibility of 20 pt slippage in 2008 like worst case) for 1 Lot Nifty CO with 30 point SL margin. Then we can trade with Rs 1250/Lot.

Eager to know the real margin Nifty using CO with 20-30 point Stop Loss. If someone get that info please share (whenever possible).

Best Wishes & Happy Trading.
H.C.

 

[TraderRavi]

brokerage refunded monthly/quarterly to top 3 only or all profitable traders (like zerodha), in ITL ?

 

[simplebuthard]

brokerage refunded monthly/quarterly to top 3 only or all profitable traders (like zerodha), in ITL ?

Brokerage will be refunded along with prizes for winners. Top 3 positions only the winners (in weekly league, only one winner). So being profitable doesn't make any sense with ITL.

 

[simplebuthard]

I didn't get reply from samco. but myself found what was the issue.

I actually went directly to samco.in website and filled up the form through the Open an acct link. That was the issue I wasn't able to reedit the forms.

What I actually should have done it, go straight into indiantradingleague.com website and filled the form. Today I did it and it said email already exists and logged in ITL website using the samco.in login and it already showed my filled form through picking from the samco.in database.

Happily edited the few errors which was due and also offered the coupon code for free acct. Actually this coupon completely makes free all opening fees even if you selected trading, demat plus commodities acct but I applied only for trading acct as I will be trading only FNO segment.

Yesterday I updated them via email to let them know my issue solved.

Got reply via email now as following;

Sorry sir, we could not reply to you as we are receiving a lot of mails due to the overwhelming response we have received. Please feel free to contact us in case of any query.

 

[Jai Mata Di]

I wrote a letter to Samco that, your nifty margin is 10% is on higher side than other famous discount brokers (Like Z). They still have not replied.
But silently from today they reduced Nifty margin requirement to 8% in their margin calculator.
They are flexible & competitive enough. :thumb:

MIS requirement is 40% of NRML.
Now we have to know how much margin advantage we can get from CO.

As they are giving costly advertisment on CNBC to target mainly clients from traditional brokers with very high brokerage(than discount brokers) like SBI, HDFC, ICICI, Reliance etc they may not be interested to open a thread here(IMO). But, it seems that they are flexible & competitive enough.

Best Wishes & Happy Trading.
H.C.

 

[timepass]

Received a call from them about my email this afternoon.

1) Yes, it is nest trader. 90% says that it can be installed alongwith the other nest installation, on a different drive

2) bracket orders not available at present.

 

[Smart_trade]

Does the competition have separate sections for futures and options traders or it is just one section for all ?

Smart_trade