VPS Share - Good broker... Better plans... Best pricing...

[summer123]

I talked to customer care, she also confirmed news of not opening any new account. Its management decision, i assume something fishy with this company. They may close this business and can run-away anytime. Its Red Alert for those who have account with this broker.

 

[Trade2Learn]

Dear Traders,
VPS has send me a mail.They are withdrawing their online trading platform.They have asked all the trader to stop taking positions and withdraw the money to their bank accounts.
The mail is as follows-

Dear Traders,

It has been nice association so far and we hope that you have enjoyed this relationship as much as we have. We at VPS have strived to provide you our best that we have to offer. Till date our product remains unique in the industry and as envisaged it has delivered value for every kind of trader. Our Customer Support Desk works hard to assist you in whenever you need them.

Off late we have seen erosion in retail participation in equity market and since last three month very low level of participation in MCX. Margin in broking business are under heavy pressure and slowly but surely this business is getting out of preference of business houses. We are also considering moving out of retail broking as margins are too low and in future we may see further pressure on already wafer thin margin. In view of this we are withdrawing our online discount broking product i.e. Rs 10 per trade with MAX CAP.

It is our advice to all our clients that they may stop creating new positions in their account and try to shift their position to their other accounts with any other broker. We do not wish to cause any inconvenience to any of our client and will request them to put their request to withdraw their deposit from their accounts thru back office. We would be glad to assist you in any manner that you want thru this process. You may open trading a/c with any other discount broker and shift your positions. Our customer support desk will be available till 30 Nov 2013.

 

[ryan4ucar]

I talked to customer care, she also confirmed news of not opening any new account. Its management decision, i assume something fishy with this company. They may close this business and can run-away anytime. Its Red Alert for those who have account with this broker.

u are truly worse then a frightened kitten , if a company tells you thet are not opening account u assume that they will run with your money ... a fraudster would surely want you to open a account and then run with the money you deposit , dumb people like you are no good in this forum

 

[timepass]

This is stunning..

Dear Traders,
VPS has send me a mail.They are withdrawing their online trading platform.They have asked all the trader to stop taking positions and withdraw the money to their bank accounts.
The mail is as follows-

Dear Traders,

It has been nice association so far and we hope that you have enjoyed this relationship as much as we have. We at VPS have strived to provide you our best that we have to offer. Till date our product remains unique in the industry and as envisaged it has delivered value for every kind of trader. Our Customer Support Desk works hard to assist you in whenever you need them.

Off late we have seen erosion in retail participation in equity market and since last three month very low level of participation in MCX. Margin in broking business are under heavy pressure and slowly but surely this business is getting out of preference of business houses. We are also considering moving out of retail broking as margins are too low and in future we may see further pressure on already wafer thin margin. In view of this we are withdrawing our online discount broking product i.e. Rs 10 per trade with MAX CAP.

It is our advice to all our clients that they may stop creating new positions in their account and try to shift their position to their other accounts with any other broker. We do not wish to cause any inconvenience to any of our client and will request them to put their request to withdraw their deposit from their accounts thru back office. We would be glad to assist you in any manner that you want thru this process. You may open trading a/c with any other discount broker and shift your positions. Our customer support desk will be available till 30 Nov 2013.

 

[RAAMAKANT]

I too Got this Mail. :annoyed:
Market se bhi bada Jhatkaa......

Dear Traders,
VPS has send me a mail.They are withdrawing their online trading platform.They have asked all the trader to stop taking positions and withdraw the money to their bank accounts.
The mail is as follows-

Dear Traders,

It has been nice association so far and we hope that you have enjoyed this relationship as much as we have. We at VPS have strived to provide you our best that we have to offer. Till date our product remains unique in the industry and as envisaged it has delivered value for every kind of trader. Our Customer Support Desk works hard to assist you in whenever you need them.

Off late we have seen erosion in retail participation in equity market and since last three month very low level of participation in MCX. Margin in broking business are under heavy pressure and slowly but surely this business is getting out of preference of business houses. We are also considering moving out of retail broking as margins are too low and in future we may see further pressure on already wafer thin margin. In view of this we are withdrawing our online discount broking product i.e. Rs 10 per trade with MAX CAP.

It is our advice to all our clients that they may stop creating new positions in their account and try to shift their position to their other accounts with any other broker. We do not wish to cause any inconvenience to any of our client and will request them to put their request to withdraw their deposit from their accounts thru back office. We would be glad to assist you in any manner that you want thru this process. You may open trading a/c with any other discount broker and shift your positions. Our customer support desk will be available till 30 Nov 2013.

 

[poortrader]

It is indeed bad news for retail clients, competition was heating up and brokers like zerodha reduced turnover costs..seems the broking industry is in real bad shape.

 

[jain.er]

What about equity F&O trading?

Has any trader lost his deposit with them?

 

[sabhis]

STUNNING


Customer Support Desk- VPS
1:28 PM (3 hours ago)

to Dinesh, bcc: me
Dear Traders,
It has been nice association so far and we hope that you have enjoyed this relationship as much as we have. We at VPS have strived to provide you our best that we have to offer. Till date our product remains unique in the industry and as envisaged it has delivered value for every kind of trader. Our Customer Support Desk works hard to assist you in whenever you need them.
Off late we have seen erosion in retail participation in equity market and since last three month very low level of participation in MCX. Margin in broking business are under heavy pressure and slowly but surely this business is getting out of preference of business houses. We are also considering moving out of retail broking as margins are too low and in future we may see further pressure on already wafer thin margin. In view of this we are withdrawing our online discount broking product i.e. Rs 10 per trade with MAX CAP.
It is our advice to all our clients that they may stop creating new positions in their account and try to shift their position to their other accounts with any other broker. We do not wish to cause any inconvenience to any of our client and will request them to put their request to withdraw their deposit from their accounts thru back office. We would be glad to assist you in any manner that you want thru this process. You may open trading a/c with any other discount broker and shift your positions. Our customer support desk will be available till 30 Nov 2013.


Customer Support Team
VPS Share Company Pvt. Ltd.

 

[traderite]

At almost last moment of myself reaching at a decision of finally opening an account with VPS , they just passed this news that they are withdrawing from the business . Very shocking but true.

But this also tells the story that RETAIL TRADERS are no more finding trading business as lucrative as in the past.

Am I wrong in keeping interest in trading still.....

 

[SuperSaiyan]

How is posting that message at 2:00 pm is going to help ? and that too on friday