Trade Smart Online

[timepass]

We consider it a competition sensitive information and hence would not like to share it at this point.

Fair enough.

Just pointing out, if a broker employed a large team, you would see it on their front page "Our team of 500 is always eager to help you with your trading.. etc..etc..".

But ok, you too have a point, VNS.

 

[market oracle]

Tradesmartonline,

Okay can you send me a PM at least? It just feels one sided if you are so information sensitive. Dude you guys don't provide anything out of the ordinary. So why do you think revealing this it would harm your best interests? You have been avoiding me for far too long now. What will you lose? It is we the traders who stand to lose money for every reason. You brokers stay clear of every risk and now you're closing your doors on me if I even ask how big your team is? Its not like I'm asking you for extra exposure or bargaining for cheaper brokerage.

 

[crazymouse]

support

Do you work on saturdays ?
I have been trying to call your support team today ie 31st Jan but nobody is picking up the phone.

 

[TradeSmartOnline]

Re: support

Do you work on saturdays ?
I have been trying to call your support team today ie 31st Jan but nobody is picking up the phone.

Hello crazymouse,
Sorry for the delayed reply.

Yes we work on Saturdays from 10:30 am -4:30 pm. Hope your issue got resolved.

 

[market oracle]

TradeSmartonline,

I request you to answer my question. Kindly act like a professional. Yours is a service providing business and you are liable to answer such queries. I ask you again, how many employees do you have in total?

 

[timepass]

TradeSmartonline,

I request you to answer my question. Kindly act like a professional. Yours is a service providing business and you are liable to answer such queries. I ask you again, how many employees do you have in total?

Where I am concerned, they have given valid reasons for not answering your question. I suppose if you really want to know, you should continue your quest outside the forum. Why not visit them, or get the information from the Registrar of companies or SEBI or some such ?

 

[market oracle]

Time pass,

I guess that's the only way. What ridiculous people can't even answer such a basic question. And we are supposed to put faith in them.

 

[timepass]

Time pass,

I guess that's the only way. What ridiculous people can't even answer such a basic question. And we are supposed to put faith in them.

As I said, they have mentioned valid reasons for their reluctance. There are limits to which some information can be released to anonymous readers on the internet because faith/trust is a hard earned feeling and should be mutual.

I guess that leaves the reader with two choices : 1) Not use their services, 2) Pursue the inquiry through other offline/physical means till satisfactory answers are available.

 

[mastermind007]

Double Charging for AMC and Delivery cost...

I am raising objection against the AMC that the company charges for having a DP Account along with Trading account because I feel that this is double Charging for the exact same facility/service...

Why should I pay for maintaining any thing if I cannot even use it without having to pay for the usage every time?

Either the company should not charge Annual Maintenance on Depository Account or must not charge 20 rs every-time trader sells something held into the DP Acct overnight.

To make matters worse, you don't even show this charge on your online calculator

To understand my objection with an example,

Example 1) consider a regular bank that charges AMC for granting debit card to a customer. They don't charge fees every time customer uses debit card (in ATM, in shopping) etc...
Example 2) A Tenant. Tenant pays X amount of monthly rent money (maintenance charge for the facility) to his landlord. If the landlord allowed the tenant to walk into apartment for free but charged 100 rs every time he had to go out, it could cause riot....

Practical consideration...
Continuing from the Example 1 above, most banks do not limit Debit card usage in shopping but do limit number of ATM withdrawals to a fixed number and further limit amount that can be withdrawn per day... These imposed limits are from practical consideration (fraud, fair usage, ATM refilling cycles) and are by-and-large reasonable.

Although I am not aware of any practical limitation that TSO has in terms of stuff being sold into and out of DP, but if TSO introduced a scheme that first X number of withdrawals (sell offs) from DP every month would not be charged 20 rs, it could be understandable...

 

[TradeSmartOnline]

Re: Double Charging for AMC and Delivery cost...

I am raising objection against the AMC that the company charges for having a DP Account along with Trading account because I feel that this is double Charging for the exact same facility/service...

Why should I pay for maintaining any thing if I cannot even use it without having to pay for the usage every time?

Either the company should not charge Annual Maintenance on Depository Account or must not charge 20 rs every-time trader sells something held into the DP Acct overnight.

To make matters worse, you don't even show this charge on your online calculator

To understand my objection with an example,

Example 1) consider a regular bank that charges AMC for granting debit card to a customer. They don't charge fees every time customer uses debit card (in ATM, in shopping) etc...
Example 2) A Tenant. Tenant pays X amount of monthly rent money (maintenance charge for the facility) to his landlord. If the landlord allowed the tenant to walk into apartment for free but charged 100 rs every time he had to go out, it could cause riot....

Practical consideration...
Continuing from the Example 1 above, most banks do not limit Debit card usage in shopping but do limit number of ATM withdrawals to a fixed number and further limit amount that can be withdrawn per day... These imposed limits are from practical consideration (fraud, fair usage, ATM refilling cycles) and are by-and-large reasonable.

Although I am not aware of any practical limitation that TSO has in terms of stuff being sold into and out of DP, but if TSO introduced a scheme that first X number of withdrawals (sell offs) from DP every month would not be charged 20 rs, it could be understandable...

Hello mastermind007,
Thanks for your feedback.

CDSL charges transaction charges on debit of shares from the demat accounts opened with the DP. Hence we apply transaction charges on sale of shares from your account. Most other Depository Participants like us usually bill this amount at the end of the month. However, it sometimes causes confusion as people have to go back and track how many debit instructions they had in the month. In an effort to be more transparent, we charge it on daily basis so that it's easier for our client to verify the amount they have been charged.

Your feedback is well taken, we'll add the list of charges on our brokerage calculator page too. However, for now it's there in our account opening form (KYC form) as well as our knowledge base.

The DP (demat) operations have their own costs associated with them and are not mandatory for a trading account. If the DP costs are subsidized by the trading operations then it'll affect the pricing we can offer for trading. Our objective is to unbundle services so you pay only for the services that you use. Hence if someone does not use a demat account he/she does not need to pay higher amount in brokerage. Moreover, if you meet the below criteria you can get your demat account converted to a BSDA account where AMC charges are waived off:

1. All the individuals who have or propose to have only one demat account where they are the sole or first holder.
2. Individuals having any other demat account/s where they are not the first holder shall be eligible for BSDA in respect of the single demat account where they are sole or first holder.
3. The individual shall have only one BSDA in his/her name across all depositories.
4. Value of securities held in the demat account shall not exceed Rupees Two Lakhs at any point of time.

In case you'd like to get the account converted please let email us at support(at)vnsfin.com regarding the same.