Trade Smart Online

[TradeSmartOnline]

Trade smart online,

If u guys reply so late, the purpose of starting the thread is defeated. Please be more quick.
Are u guys DP participants? Or like zerodha, u too have chosen third party. Suppose if third party jakes mistakes, will u refund the money???

Hello market oracle,
In case people are facing any issues we try to be more quick but for general queries on the forum there could be some lag.

Though we'd try to work on the response time in case of general queries too, we'd also encourage you to try our chat support as it is live and the response time there is immediate

Yes, we are Depository Participants ourselves.

 

[TradeSmartOnline]

Yesterday evening I chatted with your rep on your website and she told me that it's not possible to convert overnight positions into MIS intraday in NEST.

Suppose I am carrying USDINR (buy) overnight and want to convert it to MIS for intraday. The overnight margin blocked is 2158. So, on conversion will it release Rs.1079 for intraday ?

Looks like there might have been a misunderstanding. It is possible with NEST.

When you convert it to MIS the final margin blocked will be that required for MIS only and the additional margin will get released.

 

[lvgandhi]

What are your DP charges per annum and opening charges for existing client now trading in nfo only.

 

[TradeSmartOnline]

What are your DP charges per annum and opening charges for existing client now trading in nfo only.

AMC: Rs 300
Demat Account Opening charges: Rs 200

 

[timepass]

Looks like there might have been a misunderstanding. It is possible with NEST.

When you convert it to MIS the final margin blocked will be that required for MIS only and the additional margin will get released.

That sounds like a good reason to convert to NEST.

Is it the same with options ?

 

[timepass]

Is it the same with options ?

Clarification : I meant - for options sold

Also, what is the procedure for moving to NEST ? This weekend seems like a good idea.

 

[classifiedindian]

AMC: Rs 300
Demat Account Opening charges: Rs 200

So if you guys are DP members, does it mean that you are clearing members too?

 

[TradeSmartOnline]

Clarification : I meant - for options sold

Also, what is the procedure for moving to NEST ? This weekend seems like a good idea.

Hello timepass,
Yes it'll work for option writing too.

If you wish to move to NEST, please send us an email at [email protected] and give reference to the discussion on traderji and we'll have it processed.

Before migrating, please make sure that that you have installed NEST and tested the login etc with a test id from our side. Switching back to NOW would not be that straightforward and can not be done during market hours.

 

[TradeSmartOnline]

So if you guys are DP members, does it mean that you are clearing members too?

Depository Participant is different from a Clearing member. Depository is for demat accounts and as per our understanding by clearing members you are referring to clearing member for F&O, Currency etc.

We are not a clearing member. Most prominent brokers are not clearing members themselves and use the services of professional clearing members.

 

[timepass]

Hello timepass,
Yes it'll work for option writing too.

If you wish to move to NEST, please send us an email at [email protected] and give reference to the discussion on traderji and we'll have it processed.

Before migrating, please make sure that that you have installed NEST and tested the login etc with a test id from our side. Switching back to NOW would not be that straightforward and can not be done during market hours.

I understand that migrating back to NOW is tedious, but you mean, migrating from NOW to Nest can be done during the market hours ??

Anyway, it is all academic now. I chatted with your rep on the website and was told that NEST is available only for those having commodities account, which I don't have.