Please Suggest Broker

[heart_hacker2003]

Dear Seniors,
Please suggest a broker who can provide the following facilities:
1) Providing collateral margin against my stock holdings and I should get margins of up to 100% on my stock holdings after haircut, should not have cash maintainance requirement with collateral margin. There should not be interest charge on utilisation of margin for positional option writing trades.
2) Providing intraday leverage on option writing upto 5x-10x on collateral margin (on Index i.e. Nifty and Bank Nifty).
3) Should have good trading terminal or else should provide access to NSE Now...etc.
4) Brokerage should be less.
5) Should be a trust worthy broker as I would be taking collateral margin.

Your suggestion would be valuable to me.

Thanking You All

 

[Tejas Khoday]

Dear Seniors,
Please suggest a broker who can provide the following facilities:
1) Providing collateral margin against my stock holdings and I should get margins of up to 100% on my stock holdings after haircut, should not have cash maintainance requirement with collateral margin. There should not be interest charge on utilisation of margin for positional option writing trades.
2) Providing intraday leverage on option writing upto 5x-10x on collateral margin (on Index i.e. Nifty and Bank Nifty).
3) Should have good trading terminal or else should provide access to NSE Now...etc.
4) Brokerage should be less.
5) Should be a trust worthy broker as I would be taking collateral margin.

Your suggestion would be valuable to me.

Thanking You All

I am certainly not the most senior member of Traderji but I have been here a while running our own thread. I was surprised to find that there are no replies yet. I thought there would be a flood of them from different brokers. It's always a pleasure to be the first one to do something. Anyways,

1. We do provide collateral margin against stock holdings. But the reason us or most other brokers don't provide 100% on the holdings after haircut without having cash in the account is because of our safe risk management practices. For example, let's say we give you the margin after a haircut and you make a loss on a trade, what do you expect us/broker to do? Sell your shares immediately and use the funds to make MTM settlement to the exchange? Most traders have an issue with this especially when the losses are small. If anyone thinks otherwise, is welcome to refute me.

2. Nah, not happening. We can allow clients to carry F&O trades but margins required for positions will be blocked as per SPAN + Exposure. If any broker funds your overnight position, they will have to charge you an interest on the capital provided which allows you to carry positions at a leverage of 5x to 10x. We would not do this as it is not a safe practice. It transfers risk from the trader to the broker. Not a good sign!

3. Do checkout Fyers Web and Fyers One. You might like our platforms.

4. Our charges are amongst the lowest in India. You can look them up on our pricing page.

5. Sure, that goes without saying.

Disclaimer: I am the CEO of FYERS and I may have a vested interest in answering your query. My reply should not be considered a promotional activity as I have just stated plain facts which may be useful to you in one way or another.