Which brokers don't provide broker credits ?

sapumal · 1 Which brokers don't provide broker credits ? Wed Aug 24, 2011 2:19 pm

sapumal

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Last edited by sapumal on Wed Aug 24, 2011 3:26 pm; edited 1 time in total

rcharindu · 2 Re: Which brokers don't provide broker credits ? Wed Aug 24, 2011 2:40 pm

rcharindu

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Ceylinco nope Mad

Deva · 3 Re: Which brokers don't provide broker credits ? Wed Aug 24, 2011 2:41 pm

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I am not a Asha Phillip client. Why a sudden change in their policies? Will the other broker firms follow this. If so, the market will collapse for an extended period.

banarahu · 4 Re: Which brokers don't provide broker credits ? Wed Aug 24, 2011 4:01 pm

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When others going for T+n, Asha pillip reduce credit period T+5 to T+3 for coming two monts. I think its time to change the broker... Mad

dsuranjana · 5 Re: Which brokers don't provide broker credits ? Wed Aug 24, 2011 4:03 pm

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Ceyinco has provided the credits

pushpakumara · 6 Re: Which brokers don't provide broker credits ? Wed Aug 24, 2011 4:14 pm

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Are they within the 10 brokers who are not qualified to give credit. I mentioned this in one of my previous posts there will be a problem ahead and time will tell us the next event to be unfolded. If such brokers want to amend T+5 to T+3
why not they applied this theory in year 2010 collected monies on time? Why did they they give extended credit to clients at that time and now want settlements by T+3. Can we collect the cheques also on T+3? Are there any hidden agendas? Clients will tell them " No thank you, we go elsewhere . Keep your rules to your self"

sapumal · 7 Re: Which brokers don't provide broker credits ? Wed Aug 24, 2011 4:41 pm

sapumal

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banarahu wrote:When others going for T+n, Asha pillip reduce credit period T+5 to T+3 for coming two monts. I think its time to change the broker...

Then I will have to sell it from Asha phillips and buy it again by another broker. It will cost lot

CHASE · 8 Re: Which brokers don't provide broker credits ? Wed Aug 24, 2011 5:11 pm

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sapumal wrote:

banarahu wrote:When others going for T+n, Asha pillip reduce credit period T+5 to T+3 for coming two monts. I think its time to change the broker...

Then I will have to sell it from Asha phillips and buy it again by another broker. It will cost lot

You can transfer your stocks from one broker to another. check with your new broker.

banarahu · 9 Re: Which brokers don't provide broker credits ? Wed Aug 24, 2011 6:26 pm

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sapumal wrote:

banarahu wrote:When others going for T+n, Asha pillip reduce credit period T+5 to T+3 for coming two monts. I think its time to change the broker...

Then I will have to sell it from Asha phillips and buy it again by another broker. It will cost lot

Ask from your new broker, As I heard you can transfer your account with existing credit purchases. new broker will pay for the credits and charge an interest. Interest is better than cheap selling by broker Wink

gamaya · 10 Re: Which brokers don't provide broker credits ? Wed Aug 24, 2011 9:24 pm

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SC no.

thighrokker · 11 Re: Which brokers don't provide broker credits ? Thu Aug 25, 2011 6:09 am

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CHASE wrote:
You can transfer your stocks from one broker to another. check with your new broker.

Remember, you can only transfer brokers AFTER you settle the credit.

ss7097 · 12 Re: Which brokers don't provide broker credits ? Thu Aug 25, 2011 9:35 am

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pushpakumara wrote:Are they within the 10 brokers who are not qualified to give credit. I mentioned this in one of my previous posts there will be a problem ahead and time will tell us the next event to be unfolded. If such brokers want to amend T+5 to T+3
why not they applied this theory in year 2010 collected monies on time? Why did they they give extended credit to clients at that time and now want settlements by T+3. Can we collect the cheques also on T+3? Are there any hidden agendas? Clients will tell them " No thank you, we go elsewhere . Keep your rules to your self"

Hi all,

My broker is Asha Phillip and they informed that we've to settle the credit T+3. I asked the reason and they said, even CSE approve to give Credit to their clients, CSE won't increase credit to them. Asha Phillip got 50m from CSE as credit but has to settle on T+5. If they won't settle it on time, their license going to cancel. This is the story I got from my agent.

What they have done in 2010 (as well as other brokers too), they didn't settle their credit ontime to CSE and they lend it to their clients with the interest of 16% or more. They earn more money from us giving credit without from their pockets (from the money belongs to CSE).