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[VPS SHARE]

Hi
1) If a person does not have any demat account can he still open only trading ac with you, if yes, then can he trade intraday in cash or only F&O?

2) If one opens only trading ac with you is there any provision for nomination? If not, what happens in case of death of the ac holder? Do you transfer the balance amount to the linked bank account automatically after a specific period or only on intimation to you by family members?

Hi,

1. Trading in F&O permissible without DEMAT, for trading in Cash it is mandatory even if it is intraday trading.
2. There is an option for nomination for Trading a/c also but it is not mandatory.
3. Quarterly settlement is mandatory now so after a quarter all margin money in trading a/c is transferred to linked bank a/c and all delivery of stock is as it is in client's DP.

best wishes,

Team VPS

 

[traderite]

@ VPS ,

I have an Indiabulls Demat account . If I link it to my trading account with you and I have Niftybees in this demat account worth Rs. 2 lakhs then will you give me margin benefit for trading through this investment ?

 

[VPS SHARE]

@ VPS ,

I have an Indiabulls Demat account . If I link it to my trading account with you and I have Niftybees in this demat account worth Rs. 2 lakhs then will you give me margin benefit for trading through this investment ?

Hi,

You may link your Indiabulls DEMAT to our trading a/c but unless you pledge the stock/niftybees with us we will not be able to give you margin. For all holding in DP to get margin one needs to pledge them first.

best wishes,

Team VPS

 

[a1b1trader]

Hi,
Quarterly settlement is mandatory now so after a quarter all margin money in trading a/c is transferred to linked bank a/c

best wishes,

Team VPS

What is the rationale behind imposing this rule.
What is the procedure you follow to carry on this QS.

Isnt it ridiculous, that one fine morning a trader while ordering a trade finds that he has no money in his trading account.

 

[VPS SHARE]

What is the rationale behind imposing this rule.
What is the procedure you follow to carry on this QS.

Isnt it ridiculous, that one fine morning a trader while ordering a trade finds that he has no money in his trading account.

Hi,
This rule has also come as an initiative from SEBI to protect small investors. Rationale being that client can not be kept in dark for more then a quarter by any broker. This may not be relevant to online traders who are trading themselves but to lot of small investors/traders who had suffered unauthorized trading in their accounts.

It has only added to our job as broker one more process that we need to comply with. We try to do it in a manner so that we avoid putting client in any inconvenient situation as you have mentioned in your comments. We have already done settlement for Sep qtr avoiding such situation for our clients.

best wishes,

Team VPS

 

[poortrader]

Hi,
This rule has also come as an initiative from SEBI to protect small investors. Rationale being that client can not be kept in dark for more then a quarter by any broker. This may not be relevant to online traders who are trading themselves but to lot of small investors/traders who had suffered unauthorized trading in their accounts.

It has only added to our job as broker one more process that we need to comply with. We try to do it in a manner so that we avoid putting client in any inconvenient situation as you have mentioned in your comments. We have already done settlement for Sep qtr avoiding such situation for our clients.

best wishes,

Team VPS

I have an old account with IIFL, and they have kept rs 600 in my account stating that minimum of Rs 1000 has to be kept as margin money. They only send a mail about the settlement. Can they keep money like that, can I complain to SEBI?

 

[poortrader]

free screenshot software

The nse site shows that you were incorporated in 1996 while you took membership of NSE only in 2010. In vps website you have written that you are in this business from 1996. So were you not dealing with NSE for the period 1996-2010, if not how can you claim that you have been in this business from 1996? Please elaborate on your business from 1996

 

[VPS SHARE]

free screenshot software

The nse site shows that you were incorporated in 1996 while you took membership of NSE only in 2010. In vps website you have written that you are in this business from 1996. So were you not dealing with NSE for the period 1996-2010, if not how can you claim that you have been in this business from 1996? Please elaborate on your business from 1996

Hi,

Yes we functioned as Intermediary (sub broke - NSE, BSE) in this market since 1996 till 2009 and took NSE membership in 2010. ( please go thru post no 87 on this thread).

best wishes,

Team VPS

 

[poortrader]

Can anyone give a view on the backoffice of VPS

@ VPS
Is there a demo for your backoffice?

If not plz confirm the following,
Do you give trade details for each section, intraday eq, FnO, Currency and Commodity and turnover calculations (for FNO it is settlement profit + settlement loss) as required to be filed for taxation?

 

[VPS SHARE]

Can anyone give a view on the backoffice of VPS

@ VPS
Is there a demo for your backoffice?

If not plz confirm the following,
Do you give trade details for each section, intraday eq, FnO, Currency and Commodity and turnover calculations (for FNO it is settlement profit + settlement loss) as required to be filed for taxation?

Hi,

there is no Demo of backoffice.

Please send your requirement to our support id so that we are able to confirm this.

best wishes,

Team VPS